If you searched about how often does Shopify payout before, you probably got a very generic answer to your question that didn’t really answer the question.
Because of that, I feel like you need to know exactly how often Shopify pays out and what you need to do in order to have everything set up properly.
When you set up your online store, you will also have to select your payment gateway for Shopify. There are many options you can choose, with different fees and processing time, available in different parts of the world.
Now, there is one very important thing you need to consider. If you’re planning to use the Shopify Payments option, you will see all your stats and funds directly in your Shopify dashboard. If you choose a third-party payment gateway, then you will need to check your stats in their dashboards, and you will depend on them.
On Shopify’s support domain, you will be able to see the different payment gateways and the method you’re paid through.
Here, we will talk about Shopify Payments, Apple Pay, Google Pay, and Shopify Pay. Besides the fact that they are the most popular, you get paid directly by Shopify’s system.
How Often Does Shopify Payout?
The right answer here is “it depends.” It depends on the payment gateway you use and your location. In general, for the United States and Australia, the pay period is of two business days.
Of course, this doesn’t mean that after two days you will have you money in your bank account. You need to also consider the time needed for your bank to process the payment until you see the money in your bank account.
As I said, if you’re in the United States or Australia, you will get paid every two days. Most European countries Shopify Payment is available in, as well as New Zealand, receive payments every two days, while Italy, Singapore, Sweden, and Hong Kong receive payments every four days. In the case of Japan, payments are only processed on Fridays, regardless of when the payment was made.
Tracking Your Payments
Using the Shopify Dashboard, you can track your payments at all times. Since payments are synced with the orders, you have a very good overview on the whole situation.
A very important thing you need to pay attention to is the fact that your store’s information need to be complete before receiving a payment. This means that your business details and banking information need to be updated and confirmed. If they’re not, the money will be refunded to the buyer in 21 days.
In general, you will be able to see all your payments from the dashboard. Some will appear as “Paid,” others will appear as “Scheduled.” The ones marked as “Paid” have already been sent to your bank account, while the “Scheduled” ones are waiting for an action.
You can either send them manually or create scheduled withdrawals at your set dates.
If you want to use other payment gateways, you need to see how fast they process the payments. PayPal and Amazon Pay, for example, can send your money in one to three days.
In conclusion, you can find out how often does Shopify payout depending on the region you’re in and the bank you’re working on, but it’s not a long process and you can have your money in a very short time.