US Shopify account, selling in USD but want funds to come to Australia

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I live in Austraia and want to create a USD Shopify account that is targeted to US. It will be POD produced and shipped in the US. I live in Australia and want the funds sent back to Australia. Can someone tell me how this work and if there will be lots of bank fees back and forward receiving money in AUD and then paying for product in USD.

I do have a US bank account but I am not sure if this will suddenly change where I have to pay tax for earning the money.

Thanks

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Shopify Staff
Shopify Staff
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Hi, @Raquel3!

Julie here from Shopify Support.

While you can choose to sell in whichever currency you like, it's important to make sure that your payment gateway is capable of accepting and converting foreign currencies. Have you already selected a payment gateway? If so, are you using Shopify Payments?

Shopify Payments actually has a feature that allows merchants to sell and get paid in different currencies. However, your payout bank account needs to be located in the same country as your store; in this case, you'll just need to use your Australian bank account, as your US bank account will not be compatible. When a customer purchases a product in USD, Shopify will then convert your payout to AUD. Just keep in mind that standard currency conversion rates will apply. 

There are many other great advantages to using Shopify Payments. For example, using Shopify Payments means that you also won't be responsible for any transaction fees, even if your customer uses an alternative payment gateway (such as PayPal Express) to make their purchase. You'll also be able to track and manage your payouts directly within your Shopify admin, making payment tracking simple. 

If you aren't using Shopify Payments, then I recommend reaching out to your payment gateway directly for advice. They will be able to let you know which currencies you can accept payments in and whether you are able to use a US bank account. 

Finally, is your store already setup to sell in USD? You can view and change your store's currency if you haven't already made your first sale in Settings > General. If you have already made your first sale, then you'll just need to contact our Support team to change your store's currency. 

I hope this helps guide you in the right direction! Feel free to respond here if you require any clarification or have any further questions.  

Julie | Social Care @ Shopify
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Hello, I am also located in Australia, but instead of using our current Australian Shopify site, we have a different Shopify site for the US. Can you please tell me if it is possible for the US site to pay USD into an Australian foreign currency account (an account held in Australian that is set up to accept USD)? Because we pay our suppliers in USD we want to avoid converting the funds to AUD. But we do not have a bank account or address in the US so we cannot open an account in the US. Instead we are hoping a foreign currency account in Australia will be ok?  

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Shopify Staff
Shopify Staff
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Hey, @Nicola123!

Thanks for joining in on the conversation.

Currently, Australian merchants using Shopify Payments can only accept payouts in AUD. Although your bank account is capable of accepting funds in USD, I'm afraid that this is not a supported payout currency through Shopify Payments. 

That being said, we do have an internal system in place for feature requests and I'd like to raise your suggestion with our developers. In situations like your own, I can definitely see how it would be beneficial to receive your payout in the same currency you are selling in.

We regularly announce new platform features in our Changelog, so feel free to keep an eye out there for updates!

Julie | Social Care @ Shopify
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But if the Shop if a US shop then can we accept USD payouts in an
Australian foreign currency account? We have opened a second Shopify site
that is American
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I'll second the need for funds from US sales to be allowed to go to a USD account. I've also had to jump through all the hoops and found I'm forced to convert funds (in my case to NZD), and am amazed this isn't logged as a change request already.

Thanks for following this up for us all - I know I'm not the only other one either.

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Shopify Staff
Shopify Staff
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Thanks for following up, @Nicola123!

Is your the address associated with your US store an American address? This would be the address that you have entered in Settings > General. If so, we do require that you have a US bank account (rather than an Australian foreign currency account) and an SSN for your Shopify Payments account, as it would be registered in the US. If your store address is based in Australia, then you'll need to use Shopify Payments Australia and would only be able to receive payouts in AUD. 

I understand that this isn't ideal and as previously mentioned, I have gone ahead and sent this feedback up to our developers. It would be great for merchants to receive payouts in the currency of their choice if their bank account supports it. Hopefully this is something that can be implemented in the near future! 

Julie | Social Care @ Shopify
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Shopify Staff
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Hi, @corecoachonline

Thank you so much for your feedback. I completely understand how useful it would be to receive payouts in the same currency in which you pay your suppliers and I think it would result in a more simple and streamlined workflow.

This is definitely a feature request we've received before and the more feedback we get, the better, so I've just added your name to the ballot. Hopefully this is something that our developers can look towards implementing sometime in the near future. 

Thanks again for your feedback! 

Julie | Social Care @ Shopify
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