I have a Canadian corp that runs a Shopify store. Currently the store currency is USD so our customers pay in USD.
Our payout are currently in CAD linked to a Canadian Bank.
We recently opened a US-based USD bank account. We’d like to prevent unnecessary loss on conversions and would like to switch our payout currency to USD remitted to our US-based USD bank account.
When I check the payout page, I saw the option to change both the Bank Location AND the payout currency.
2 Questions;
If I proceed will there be any issues?
Further still, will there be any additional charges for remitting my store currency (USD) to a US-Based USD account, as opposed to the current CAD bank?