UK Based - GBP only option as Shopify Payment Payout?

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New Member
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In one thread I read this

"Currently, if you are in the UK and using Shopify Payments, your default currency must be set to GBP. "

 

But in the support page:

"Stripe users in some countries can use multiple bank accounts for different settlement currencies. Should you receive payments in a presentment currency that is the same as your bank account’s settlement currency, Stripe automatically creates a payout to that account and does not perform currency conversion."

 

Question, How do I change the settlement currency?

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Shopify Staff
Shopify Staff
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Hey @Enteddy!

 

Cal here from Shopify, thanks for reaching out to us!

 

This is a great question! It is a requirement with Shopify Payments to have a bank account set to the same currency where you are located. So for Shopify Payments, the above quote is correct "Currently, if you are in the UK and using Shopify Payments, your default currency must be set to GBP". More info can be found here if you would like to take a look.

 

While Shopify Payments is indeed powered by Stripe, Stripe's payment gateway is a separate gateway and would have their own separate policy. It looks like you're quoting Stripe's help docs here but this wouldn't apply to Shopify Payments gateway. Shopify Payments would have its own Terms of Service and payment methods.

 

If you would prefer to receive payouts with a different currency (other than GBP), you may need to consider choosing a different gateway. Here's a list of alternative gateways you can connect with if you would like to take a look.

 

Please let me know how this goes!

 

Cal | Social Care @ Shopify
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