Payout schedule

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BlastedFX
New Member
12 0 0

Hi everyone! I am a bit confused about the payment schedule for a Shopify payments payout (Canada)

If I wanted to do weekly payouts on Wednesday's would the payment period be for the 7 days? Ex. Nov. 24, 2021 - Dec. 1, 2021? Money earned between those dates is what would be deposited for the payout on Dec. 1, 2021? 

Thanks!

Accepted Solution (1)

Accepted Solutions
Kimi
Shopify Staff
200 25 53

This is an accepted solution.

Hi @BlastedFX!

If you've selected the weekly schedule for your payout period, then you can expect to see funds transferred to you for orders which had payments that were captured within the weekly (7-day) payout period. In saying this, there is a cutoff time to factor in orders and payment captures, and for Shopify Payments payouts the cutoff time is 12 UTC. This means that if, for example, you captured an order's payment after 12 UTC on Tuesday November 30, you'll see this payment being added to Wednesday December 8's payout rather than the one on Wednesday December 1. Please note that Co-ordinated Universal Time (UTC) is not adjusted for Daylight Savings, so this may also result in a regional perceived time difference in our payout times.

It's also important to note that this payout schedule refers to the date on which Shopify transfers the funds over to your account. Payouts may take longer to reach your bank account, and this is based on your bank's own processing times. You can double check this with your bank if you'd like to know more about the amount of time the funds will appear in your bank account.

Kimi | Social Care @ Shopify 
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 - Was your question answered? Mark it as an Accepted Solution
 - To learn more visit the Shopify Help Center or the Shopify Blog

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Replies 2 (2)
Kimi
Shopify Staff
200 25 53

This is an accepted solution.

Hi @BlastedFX!

If you've selected the weekly schedule for your payout period, then you can expect to see funds transferred to you for orders which had payments that were captured within the weekly (7-day) payout period. In saying this, there is a cutoff time to factor in orders and payment captures, and for Shopify Payments payouts the cutoff time is 12 UTC. This means that if, for example, you captured an order's payment after 12 UTC on Tuesday November 30, you'll see this payment being added to Wednesday December 8's payout rather than the one on Wednesday December 1. Please note that Co-ordinated Universal Time (UTC) is not adjusted for Daylight Savings, so this may also result in a regional perceived time difference in our payout times.

It's also important to note that this payout schedule refers to the date on which Shopify transfers the funds over to your account. Payouts may take longer to reach your bank account, and this is based on your bank's own processing times. You can double check this with your bank if you'd like to know more about the amount of time the funds will appear in your bank account.

Kimi | 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

BlastedFX
New Member
12 0 0

@Kimi 

 

That makes perfect sense! Thank you so much