Aria here, I'm on the Social Care team at Shopify.
I'm not sure which payment gateway you are using. If it's Shopify Payments, there's only room for one bank account on file. All payments will be sent there unless you change your bank details. To get payments for different products going to different accounts, you'd need more than one store.
With Paypal, you can have more than one bank account. When a customer chooses to pay by Paypal, the funds will normally go straight into your Paypal account. You can then log in and manually initiate a transfer to your bank account. At this point, you can decide which bank account to transfer it to.
If you are using a different gateway, I would recommend you contact their customer support to ask if it would be possible to link more than one bank account. They should be able to answer that for you.
Another option would be to send all payments to one account to simplify things. You can keep track of how much of your sales should be in the other account and just transfer a lump sum from one account to the other.
Would any of those suggestions work for you? Let me know if you need more help figuring this out.
I have a similar situation. We want to sell a new product category that is under our roof/branding, but has one additional/different co-owner from the rest of our items. Sales for these items should run through a different bank account as it is technically a separate legal entity. Currently all sales run through the default Shopify payment processor.
It sounds like we would need to add a third-party payment processor and somehow assign just these (three) items to be processed through that? Where would I figure out how to do that?
Paypal is probably your best bet for that but you can find the list of all third-party gateways in this guide. They are listed by country so you should click on the country you're located in to get an accurate list.
Keep in mind, you can only have one credit card gateway set up on each store. You can have alternative payment methods such as Paypal and Amazon Pay set up in addition to your credit card gateway but you can't force particular customers to pay with a particular gateway, they'd always be given all the options that are set up. If you deactivate Shopify Payments, you will then be subject to transaction fees as listed in our pricing guide, as well as credit card fees paid to the third-party gateway.
You might be better to speak to your accountant about the best way of separating the funds or paying out the funds to the other party.
Another option could be an app such as Multi-Vendor Marketplace. The additional/different co-owner could be set up as a 'vendor' to automate payouts to their account in the event those particular products are sold.
Do you want customers to be aware they'd essentially be buying certain products from a certain business or were you hoping to streamline it as one brand for your customers?
I want to integrate the donation with multiple firm . I want to transfer donation amount directly to firm no in my account .If i will transfer the amount to my account then transfer to firm then there will be tax issue with my account . Over all I want product amount to my account and donation amount to related firm . How it will possible with Shopify ?
The only way you could really do that is by using a marketplace app as I mentioned above. You'd set up a vendor to receive the donation amount and set yourself up as a vendor to receive the cost of the product. The app will then send the payouts accordingly.
Hello, I am in a similar situation where I am managing a site for a client who sells both apparel merchandise & CBD topical ointment. It sounds like neither PayPal or Strip allow CBD products. We're hoping for a 3rd party payment gateway that 1.) allows CBD products and 2.) is able to divide payouts to separate bank accounts either depending on the 2 store locations we have setup (in locations) or by product categories or tags. Any help or tips is greatly appreciated.
Hoping you can help clarify a part of this for me. (this is for another store I help manage with no CBD related products)
Are you saying that if we setup PayPal as the payment gateway some customers would still have the option to use other payment options and anyone who did not use PayPal we would then not have the option to split the funds from the PayPal account?
If that's the case I'm thinking a MULTI VENDOR MARKETPLACE sounds like a good option. Do you agree or have any input before I go down that path?
I apologize for the delay in response.
Which country are you in? I can let you know which payment gateways are available for your country but you'd need to contact the payment gateways individually to establish if they are right for your business model.
Multi-vendor marketplace apps are certainly a great option if you're looking for payments to automatically be allocated to certain vendors.
Is there a possibility to get the payout in two currencies, for eg USD and Euro if our bank account allows us to hold multiple currencies at the same time? So, for e. g. if a customer from Europe pays in Euro and a customer from the US pays in USD, the payout happens in the respective currencies in our bank account instead of changing the currency.