Can I use bank deposit as the only payment option for my online store?

[Wesam7]

Good Afternoon, I have some questions about accepting manual payments.

1. I wanna add bank deposit as a checkout option to my store, So what type of bank account I need to accept payment and receive the money ? Is it personal or business bank account ?

2. I'm based in iraq so will I have any problem receiving money from Usa and Europe by ( Bank Deposit ) payment?

3. Is it okay to run a store and bank deposit is the only payment option available ?

Thanks.

[Daniel]

Hi there, @Wesam7! 

Welcome to the Community! Definitely a great place to gather some input regarding anything about the platform! 

With regards to your inquiry, please review the following resources:

1. The kind of bank account you need will depend on the payment method you have chosen. To see your options and add this to your store, please review this help document on adding additional payment methods. 
2. Please review this list to see all possible gateways that you can use as alternative gateways since you are in Iraq.
3. Any business can be successful with only one mode of payment accepted however, we urge you to look at the resources above so you can provide other alternatives for your prospective customers as well. Having options when it comes to collecting your profits is a good thing. 

Definitely let us know how these resources work out for you. 

[Wesam7]

Hey daniel, Thanks for your reply !

I have checked all possible payments alternative in Iraq, But most of them if not all of them do not accept individual sellers unless you have merchant account and license and I don't know how to get it .

What type of bank account do you recommend when receiving payments ? Is it personal or business account ? 

thank you

[Daniel · Accepted solution]

Every business is different so we urge you to see what kind of account suits yours the best but the good thing about Shopify is that you can use both. 

[Wesam7]

Alright, Thank you

[Daniel]

The pleasure is all mine, @Wesam7. 

Please keep utilizing the Community for anything that you may need regarding Shopify. We are always ready to provide the help that you need to navigate through the platform.