Is using a personal account for business deposits advisable?

Shopify Discussion
1

I am asking about the place to deposit the money. Is it OK to use a personal account?

Please advise.

Thanks!

2

Hi, @Sayaka_1 .

Thank you for reaching out!

You can definitely use your personal bank account as the account your payouts get deposited into. A great feature Shopify just recently added is Shopify Balance. Shopify Balance is a set of linked financial products from Shopify designed for merchants, including a money management account, spending card, and cashback rewards. Shopify Balance is an account that Shopify Payments payouts are deposited into (within 1 business day) and can be used to make purchases both within (themes, apps, Experts Marketplace) and outside of Shopify (inventory etc.). I recommended looking into Shopify Balance if you would prefer to have your business and personal accounts separate.

Please let me know if you have any further questions! I would love to learn more about your business. What type of products do you sell?

Talk soon,

1 Like
3

Got it!

Thanks, @Emily_50

4

I clicked on Shopify Balance by accident and I just want to use my bank account. I can’t find anywhere where I can cancel the Shopify Balance card. Please help me get out!

5

Hi, @Wendybird .

Thank you for reaching out!

Did you open a Shopify Balance account accidentally and need to close it? or did you select your Shopify Balance as the payout account and need to switch it? I would be happy to help you once I have a bit more information.

Please let me know if you have any further questions! I would love to learn more about your business. What type of products do you sell?

Talk soon,

6

I was helped by a very nice man named Theo in Asia. He got rid of my
account for me. I found no other way to do it. After being pushed into one
wrong keystroke I wasted about five hours of my time trying to undo what is
designed to never be undone.

7

Hi, @Wendybird .

Thank you for your reply. I am sorry you had difficulties closing your Shopify Balance account.

I appreciate you providing this information to me and I would be happy to provide this feedback to our team on your behalf.

Please let me know if you have any further questions!