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Hello, I hope you are doing well. I want to use 'Shopify Payments' on my Shopify store, so could someone please clearly explain the requirements? I will set up a UK-based LLC, but will I need to use the same bank account I open for my LLC on my Shopify store?
Or can I use a virtual bank account like Wise, etc., for receiving payments on my Shopify store? Also, is it mandatory to use a UK bank account for payment receiving? My store is based in 'Pakistan,' where Shopify Payments is not available. Can I use a Pakistani bank account for receiving payments, even if my LLC is registered in the 'UK'?
For example, if I must use a UK bank, what would be the maximum tax I would have to pay, whether I use a virtual bank or a physical UK bank?
I have these confusions, and I would be grateful if someone could clarify them.
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