Why are my payouts going into my balance instead of my bank account?

[Jacksonwheeler]

Hi,

Did something change in my store that I’m not aware of as it relates to payouts? For some reason my payouts have been going into my Shopify balance instead of my bank account on file? I don’t recall opting into this and would prefer the funds be sent to my banks as soon as possible. 

thank you

jackson

[Elias]

Hi, @Jacksonwheeler.

Thank you for reaching out and bringing this to our attention.

I understand that your payouts have been going into your Shopify Balance account and you didn't make any changes to your payout account. It's important to note that if you've recently signed up for Shopify Balance, then your payout account is automatically switched to Shopify Balance. This way, you can receive your payouts in your Shopify Balance account in as little as one business day, and any remittances or repayments that you need to pay can be automatically withdrawn from Shopify Balance. That said, you can also transfer funds from your Shopify Balance account to your bank account. 

If you prefer having the payouts go directly into your banking account, then you can change the payout account back to your bank. However, if you have financing through Shopify Capital, then you'll need to ensure that there are funds in your account for remittances or repayments by transferring funds to Shopify Balance or changing your payout account.  

Since you can receive your payouts within one business day using your Shopify Balance account, then would you continue using Shopify Balance as your payout account?