Multi-currency and payouts to multiple accounts?

Solved
MackJon
Tourist
25 0 3

Hi,

Is it possible to get Shopify Payments to pay into separate accounts, or add more payment providers for individual countries?

With all the promotion of Shopify multi-currency, we opted to combine our sites earlier this year. It's now much easier to operate, but it's a nightmare for book-keeping. Is there a way to have multiple shopify payments on the system, so (for example) that the EU transactions payout to the EU side of the business and the UK transactions go to a UK account?

Or is there an alternative provider who can do this for us?

Or, should I just give up and go with running multiple stores again?

Cheers

Jon

Accepted Solution (1)

Accepted Solutions
Maz
Shopify Staff
76 21 15

This is an accepted solution.

Hey @MackJon,

 

Your question is a great one! I can appreciate how this would be beneficial for you and your business. 

With Shopify Payments, currently this is not possible as there is only room for one bank account on file. All funds would be sent to the bank account on file, unless you opt to change your bank account details. If you would like EU transactions to go to an EU bank account and UK transactions to go to a UK account, then you would require multiple stores.

I am currently unaware of a provider that has this option, however I have noted this feedback with our developers to review. While it's not possible right now, it may be something that could be considered in the future.

 

Let me know if you need anything else!

 

 

Maz | Social Care @ Shopify 
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 - Was your question answered? Mark it as an Accepted Solution
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View solution in original post

Replies 3 (3)
Maz
Shopify Staff
76 21 15

This is an accepted solution.

Hey @MackJon,

 

Your question is a great one! I can appreciate how this would be beneficial for you and your business. 

With Shopify Payments, currently this is not possible as there is only room for one bank account on file. All funds would be sent to the bank account on file, unless you opt to change your bank account details. If you would like EU transactions to go to an EU bank account and UK transactions to go to a UK account, then you would require multiple stores.

I am currently unaware of a provider that has this option, however I have noted this feedback with our developers to review. While it's not possible right now, it may be something that could be considered in the future.

 

Let me know if you need anything else!

 

 

Maz | Social Care @ Shopify 
 - Was my reply helpful? Click Like to let me know! 
 - Was your question answered? Mark it as an Accepted Solution
 - To learn more visit the Shopify Help Center or the Shopify Blog

View solution in original post

MackJon
Tourist
25 0 3

Hi,

Thanks for the info. Yeah, it does seem a shame, as it looks like that's the only option available to me. 

We'd be happy to sign-up for Shopify payments in the other countries we operate. Overall we've got most of the single site operating using features like multi-currency, local pricing, translation for each region - so it's behaving as it should. However, we're probably now going to have to create and sync multiple sites again - which is what the single site has removed.

To confirm, there is no roadmap or plan for this? It seems this is the way Shopify is heading (single store, multiple markets), especially with the 'Shopify Markets' coming, that this would be a logical step. I need to make the decision in the new year about how we progress and I'd hate to find out that this would come in at some point.

Jon

Maz
Shopify Staff
76 21 15

Hi Jon,

 

I really appreciate your feedback on this and wanted to thank you for that. We definitely understand that being able to separate sales for each location, and add different bank accounts for payouts means a lot to you as part of your business workflow.

For the moment, while we have had a lot of feedback surrounding this, we currently do not have a timeline of if and when this feature would be rolled out to our merchants. Although there's no guarantee of an approval and when it will be rolled out in future updates, I have high hopes for this. Additionally, you can keep an eye on our Shopify Changelog page, to keep updated on the latest news about our platform.

Have a great day!

 

 

Maz | Social Care @ Shopify 
 - Was my reply helpful? Click Like to let me know! 
 - Was your question answered? Mark it as an Accepted Solution
 - To learn more visit the Shopify Help Center or the Shopify Blog