Is there a quicker way to access customer payments on ecommerce platforms?

[shar27]

Im running in to the same issue and i don't know if there is a better system for it or not. When a customer pays, their payment isn't released to me until 3-5 business days after. Instead of waiting, I've been using my own money to pay for these orders to speed up the process. However, this is going to become unmanageable once the orders increase. 

Is there a faster way of using the customers payment or is it simply just a case of waiting for the customers payment?

I appreciate your help. 

Thanks, 

[Ivy]

Hi there, @shar27.

There is no way to speed up payment processing times, so in this case, as you mentioned above, it is just waiting for the payments to go through. To get a more accurate idea of your payment period, you can select your country from this list and then click into "pay periods". This will then give you the exact payment processing times for your country. 

I can definitely understand it can feel unmanageable especially when your order volume increases. One possible work-around to the payment paeriods that may be of interest to you is Shopify Balance - this allows you to manage your finances right from your store's admin. It has the added bonus of receiving money from your Shopify sales up to 4 days earlier than a bank. You can read the requirements for Shopify Balance here to see if this may work for you. I trust this helps, thank you. 

[shar27]

Is there a UK equivalent?