Hello, I just wanna confirm something about paypal express checkout. Can I know when I will get money transferred to my bank after my customers agreed to purchase my products with paypal? Becuase I've heard something that the merchant didn't get the money from paypal right away after they place order. Instead, they got money AFTER the product arrive at them which I think its a problem if you need the money again for ads budget.
FOR EXAMPLE: my product has 30 days shipping time, and if my customers agreed to purchase via paypal, I will get that money after the item arrived which in this case, at least after 30 days. Is this true for paypal express checkout? and via other payment, we get the payment after they fulfill the order. Can someone confirm this to me? Thanks.
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With PayPal, usually, the funds from your customer's order will show up in your bank account straight away. Once the customer completes the order, PayPal will remove the funds from the customer's account and transfer the funds to your PayPal business account straight away.
There is an option to manually or automatically capture payments on all of your orders. If you manually capture the payment, this means once the order shows up in your Shopify admin, you can first review it and decide whether or not to accept the order. Until you capture the funds, they will be held in a pending state. If you decide to fulfil the order, you can capture the payment at this time and the funds will be transferred to your account. If you decide not to fulfil, you can decline to capture which will send the funds back to the customer. It's important to note that if you are capturing payments manually, then you will have to capture the payment for each order before the authorization period for that order ends. You won't be able to collect any money for an order after the authorization period ends.
Automatic capture means the payment is accepted for you instantly once the order is completed. As long as you make sure you have your payments set to capture automatically, the funds should show up in your PayPal account straight away. You can always reach out to PayPal's support team to be sure, they can go over any possible delays in payment. So you won't have to wait between getting paid and investing those funds back into your business!
With other payment gateways, the time between the customer completing the order and the funds hitting your account can vary depending on the gateway. For example, if you were using Shopify Payments, this would be the pay period.
Also, if you are using a credit card processor that transfers the funds directly to your actual bank account rather than an online account like PayPal, there can be bank processing times to consider. This is the time it takes for your bank to receive the funds, process them, then deposit them into your bank account. Usually, this can take 24-48 hours! It is best to check with your bank to be sure about their processing times.
I know there is a lot of information above, so do let me know if you'd like me to clarify anything. Happy to keep chatting here.
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