Why shopify payments has not implementing USD payouts in Hong Kong and Singapore?

gacontre
Tourist
5 0 3


https://support.stripe.com/questions/usd-payouts-for-singapore-and-hong-kong-users


Stripe recently launched USD payouts for merchants located in  HK and SG  however on my Shopify Payments It does not allow me to add a USD account to receive my payments In USD Currency. (all my sales are in USD  so I dont want Shopify to send payouts is HKD and lose $ on conversion rates)

I know They use Stripe as a Backend.

Please advise.

USD Payouts for Singapore and Hong Kong Users
Receiving USD Payouts for Users in Hong Kong and Singapore

Frequently Asked Questions

I want to receive USD Payouts, How do I get started?
Currently, all Singapore and Hong Kong based merchants will be able to access this feature, with the exception of Custom and Express accounts. You can only add a USD bank account after you

complete account activation.
HKD.jpg

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Trevor
Community Moderator
Community Moderator
2773 362 559

@gacontre 

While Stripe may provide a feature, Shopify Payments may not support it. At this time, it is not possible to be paid out in USD when operating in Hong Kong as the bank account must be with a physical bank in Hong Kong SAR and in HKD currency. That said, if you are the business owner and you're based outside of the United States, but your business is located in the United States, then we may be able to provide Shopify Payments US which would allow you to receive payouts in USD. To have this reviewed, the account owner would need to provide all of the following documents: 

  • Government-issued photo ID (driver's license, passport, etc. - non-US ID may be accepted)
  • A Tax ID in the United States:
    1. EIN if you are LLC/Corp
    2. SSN if you are Sole Proprietor
  • Business registration document (Registered in the US with the government)
  • Proof that the business is operating from the US. This can include tracking showing you are shipping from the US or proof of a physical US address (not a forwarding address).
  • A USD checking account opened with a real US banking institution, located on US soil. Virtual banks and currency services will not work for this; it has to be a real US bank.

If the required documents can't be provided, or if the account is not eligible to use Shopify Payments after the review, then using Shopify Payments for your local region would be the best route to take. 


Trevor | Community Moderator @ Shopify 
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gacontre
Tourist
5 0 3

I have the Business and USD Bank Accounts in HK. Shopify payments needs to implement this as all my sales are in USD and Shopify Payments is making Currency Conversion not only to my payout account but also Clients are claiming they are charged an International Conversion Rate Even though they are charged i. USD,.  

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Trevor
Community Moderator
Community Moderator
2773 362 559

@gacontre 

I don't believe your customers should be getting charged a conversion fee unless they are using a credit card that is issued outside of the United States and/or not set in USD. I'd welcome you to contact Shopify Support with order examples so they can get this reviewed for you. 

 


Trevor | Community Moderator @ 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

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