Hey there, @Hannah1023
Bo here from Shopify Support!
If your payout has failed it is usually due to the account not meeting the requirements of Shopify Payments or that the details entered were incorrect due to a typo. Your bank account needs to meet the following:
- The account is a full checking account, or a current account in the UK and Ireland.
- The account uses the payout currency of your region.
- The account can accept electronic bank transfers.
Note: Savings accounts, flex-currency accounts, virtual accounts, and money-transferring services that mimic bank accounts are not supported by Shopify Payments.
Each region also has local requirements that the bank account must adhere to:
- Australia - The bank account must be with a physical bank in Australia, in AUD currency, and eligible for BECS transfers.
- Austria - The bank account must be in EUR currency, be eligible for SEPA transfers, and have an IBAN that starts with the following letters: AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE.
- Canada - If your payout currency is CAD, then the bank account must be with a physical bank in Canada, in CAD currency, and eligible for ACH transfers.
If your payout currency is USD, then the bank account must be with a physical bank in Canada or the US, in USD currency, and eligible for ACH transfers.
- Denmark - If your payout currency is EUR, then the bank account must be in EUR currency, be eligible for SEPA transfers, and have an IBAN that starts with the following letters: AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE. If your payout currency is DKK, then the bank account must be in DKK currency, be eligible for SEPA transfers, and have an IBAN that starts with DK.
- Germany - The bank account must be in EUR currency, be eligible for SEPA transfers, and have an IBAN that starts with the following letters: AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE.
- Hong Kong SAR - The bank account must be with a physical bank in Hong Kong SAR and in HKD currency.
- Ireland - The bank account must be with a physical bank in Ireland, in EUR currency, and eligible for FPS transfers.
- Italy - The bank account must be a business bank account in EUR currency, be eligible for SEPA transfers, and have an IBAN that starts with AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE.
- Japan - The bank account must be with a physical bank in Japan, a Futsu account, and in JPY currency.
- The Netherlands - The bank account must be a business bank account in EUR currency, be eligible for SEPA transfers, and have an IBAN that starts with AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE.
- Belgium - The bank account must be a standard checking bank account in EUR currency, be eligible for SEPA transfers, and have an IBAN that starts with AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE. Other types of bank accounts, and accounts with virtual providers are supported, but might result in increased payout failures.
- New Zealand - The bank account must be with a physical bank in New Zealand, in NZD currency, and eligible for BECS transfers.
- Singapore - The bank account must be with a physical bank in Singapore, and in SGD currency.
- Spain - The bank account must be in EUR currency, be eligible for SEPA transfers and have an IBAN that starts with the following letters: AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE.
- Sweden - If your payout currency is EUR, then the bank account must be in EUR currency, be eligible for SEPA transfers, and have an IBAN that starts with the following letters: AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE. If your payout currency is SEK, then the bank account must be in SEK currency, be eligible for SEPA transfers, and have an IBAN that starts with SE.
- United Kingdom - The bank account must be with a physical bank in the United Kingdom, in GBP currency, and eligible for FPS transfers.
- United States - The bank account must be with a physical bank in the United States, in USD currency, and eligible for ACH transfers.
Most checking accounts can accept the electronic bank transfer types listed above. Checking accounts that are set up to accept only wire transfers don't work with Shopify Payments. To confirm that your account can accept the transfer type listed for your region, contact your bank.
As you want to change the bank account associated with your Shopify Payments but the system will not allow you to do so, I will be reaching out to you directly to authenticate you as the owner of the account and escalate this to our Account Integrity team to make this change possible. These escalations generally take 2-3 days.
Speak Soon,
Bo
Bo | Retired Staff Member
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