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 learn more about the rewards program, refer to the Shopify Balance rewards.

Shopify doesn't charge any fees for using your Balance card, but ATM provider fees may apply. You can find more information about fees in your Terms of Service.

Shopify Balance account requirements

Shopify Balance accounts are not available to all merchants. To open a Shopify Balance account, you need to meet the following requirements:

  • be a store based in the United States or Puerto Rico (other United States territories are not supported)
  • have Shopify Payments set up or sign up for Balance when signing up for Shopify Payments
  • have a valid US Social Security Number (SSN)
  • have a single account owner for Shopify Payments (you can have partnerships)
  • be on any Shopify plan except for Shopify Plus

Set up your account

If you're eligible for a Shopify Balance account, 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 monthly account statements.

Steps:

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

  2. On the Account activity card, click View statements.

  3. Select the statement to view. The statement opens in a new tab.

Receiving payouts with a Shopify Balance account

When you sign up for a Shopify Balance account, it is automatically set as your Shopify Payments payout account. Using your Balance account, you can receive your Shopify Payments earnings in as little as one business day from the transaction processing date. Business days do not include weekends or US holidays.

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.

Connecting to third-party apps

Through our integration with Plaid, you can connect your Shopify Balance account to third-party apps, such as Venmo or Wise, to enable you to do even more with your account, like send money, make payments directly to vendors, and keep track of expenses. For more information about which third-party apps you can connect to, refer to the Plaid apps page.

Steps:

  1. Log in to the third-party app and follow the steps to set up a payment method.
  2. Select to add a bank and to instantly verify your account by logging in.
  3. Select Shopify Balance account.
  4. From the login screen, log into your Shopify store.
  5. In the third party app, complete the steps to connect your account.

Enabling low balance alerts

When you have low balance alerts activated, you are sent an email when your account balance drops below a preset value. The default value is 100.

Steps:

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

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

  3. Under Notifications, click the toggle to activate or deactivate low balance alerts.

  4. Optional: Click Change amount to change the account balance value that will trigger a low balance alert.

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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