Managing your Shopify Balance account

From the Shopify Balance page, you can access your account activity, view statements, and transfer funds.

To learn more about your Shopify Balance card, refer to managing your card. To more about the rewards program, refer to the Shopify Balance rewards.

Shopify Balance account requirements

Shopify Balance accounts are currently in early access and are not available to all merchants. If you are eligible, then you will receive an email inviting you to join Shopify Balance. To open a Shopify Balance account, you need to meet the following requirements:

  • be a store based in the United States
  • have a valid US Social Security Number (SSN)
  • have a mobile phone that can receive text messages
  • have Shopify Payments enabled

Set up your account

If you are selected for Shopify Balance early access, then you can use the following steps to set up your account.

Steps

  1. From your Shopify admin, go to Finances > Balance.

  2. Click Open account.

  3. Review your Shopify Payments information, and then click Confirm.

  4. Enter your SSN and mobile number, then click Confirm.

  5. Check the box to confirm that you agree with the Shopify Balance Account Agreement and the Shopify Balance Card Agreement, including financial institution partner privacy policies and E-SIGN disclosure, then click Open account.

After your Shopify Balance account is set up, it becomes the account connected to your Shopify Payments account. Your payouts will be deposited into your Shopify Balance account, including any financing that you receive through Shopify Capital.

Manage your account

After you have set up your account, you can perform any management tasks from the Shopify Balance page.

View your Shopify Balance account information

You can view your account number and your routing number.

Steps:

  1. From your Shopify admin, go to Finances > Balance.

  2. Click Manage account.

  3. Click Show details.

For security reasons, you might receive a prompt to authenticate your account again.

View your Shopify Balance account statements

You can view your statements for the last 12 months.

Steps:

  1. From your Shopify admin, go to Finances > Balance.

  2. Click your account number, and then click Download monthly statements.

  3. Next to the monthly account statement that you want to download, click Download PDF.

Shopify Balance account transaction limits

Your Shopify Balance account has daily spending limits for different transaction types. Daily spending limits are reset at midnight UTC. However, there's no limit to the number of transactions that you can process daily or monthly.

Shopify Balance daily transaction limits by transaction type.
Transaction type Daily limit
Cash withdrawals 1,000.00
Card spending 30,000.00
ACH transfers out 50,000.00

Transferring funds to or from your Shopify Balance account

Transfers are sent immediately, but they can take up to three business days to be delivered. You can currently transfer funds only in USD.

Transferring funds to your Shopify Balance account

  1. From your Shopify admin, go to Finances > Balance.

  2. Click Move money.

  3. Under Add funds to Balance, click the clipboard icon to copy your Shopify Balance account details.

  4. Log in to your existing business or regular bank account where you’d like to draw the money from.

  5. Go through your bank’s regular process to transfer money out of the bank using your Shopify Balance account details.

Transferring funds from your Shopify Balance account

  1. From your Shopify admin, go to Finances > Balance.

  2. Click Move money.

  3. Under Transfer funds from Balance, enter the transfer details.

  4. Optional: Click Add an account to create a new recipient. You need to have the account number and routing number for the payee in order to transfer funds.

  5. Optional: Enter a description. The description will appear on the recipient's account.

  6. Click Next.

  7. Confirm that the details are accurate, and then click Transfer funds.

For security reasons, you might receive a prompt to authenticate your account again.

Changing your payout account

You can change the account that your Shopify Payments earnings are deposited into at any time.

Steps:

  1. From your Shopify admin, go to Finances > Balance.

  2. On the Shopify Balance page, click Manage account.

  3. On the Shopify Balance account page, click Change payout account.

  4. Under Confirm old bank account, enter your Shopify Balance account information.

  5. Enter the new account information and click Save.

  6. Select your reason for changing your account and click Confirm.

  7. Click Done.

Cash flow insights

The cash flow insights overlay displays an at-a-glance view of your cash flow for the last two months. You can compare your income to your spending to see if you are earning or losing money. Cash flow insights breaks down your spending into the your top five spending categories so that you can ensure that your money is being spent where it should be. You can also view the total on your upcoming Shopify bill.

For a more detailed overview of your store's finances, refer to the Finances overview.

Steps:

  1. From your Shopify admin, go to Finances > Balance.

  2. Under Cash flow this month, click View all insights.

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