Selling and getting paid in different currencies
The currency that your customers use to pay for their orders can be different from the currency of your payouts from Shopify Payments. That is, your store currency can be different from the currency of your bank account.
Suppose that your store is located in France, but the majority of your customers are in the United States. If you sell to a lot of Americans, then set your store currency to United States dollars (USD). Your payout currency will be Euros (EUR).
Learn more about selling in local currencies with Shopify Markets.
On this page
Your store uses the following currencies:
Store currency - the currency of your Shopify admin and your reports. For example, this is the currency that you use when you set prices for your products. Although your payouts can only be in your local currency, your store currency can be any that are listed in the currency selector in your store settings. See Changing your store currency for more information.
Payout currency - the currency that Shopify Payments uses when it deposits money into your bank account. Your choice of payout currency depends on the location of your store. Your payout bank account might need to be located in the same country as your store. For example, if your store is located in Canada and you want to be paid in CAD, then you need a CAD account that is based in Canada, while a USD bank account can be based in Canada or the United States.
Shopify Payments supports the following country and payout currency pairings:
|Available payout currency (bank account currency)
|Australian dollars (AUD)
|Canadian dollars (CAD) or United States dollars (USD)
|Czech Koruna (CZK) or Euros (EUR)
|Krone (DKK) or Euros (EUR)
|Hong Kong SAR
|Hong Kong dollars (HKD)
|Japanese Yen (JPY)
|New Zealand dollars (NZD)
|Romanian Leu (RON) or Euros (EUR)
|Singapore dollars (SGD)
|Swedish Krona (SEK) or Euros (EUR)
|Swiss Franc (CHF) or Euros (EUR)
|Pound sterling (GBP)
|United States Dollar (USD)
Currency exchange and conversion fee
A currency exchange rate and a conversion fee are applied when a payment is captured. If the currency needs to be converted for a refund, then the current currency exchange rate, and not the currency exchange rate at the time of the order, is used in the conversion. Conversion fees are not applied for refunds that require currency conversion.
You can view the following information in your Shopify admin:
- the current currency exchange rate from Payment providers.
- the currency exchange rate that was used for an order from the order's timeline.
Changing your payout currency
If your country supports multiple payout currencies, then you can change your payout currency to another supported currency. To receive the payouts, you need to have a bank account in the currency that you want to be paid in. For example, if your store is located in Canada, and you want to be paid in US dollars (USD), then you need to have a bank account that accepts USD.
To change your payout currency, update your Shopify Payments banking information on the Payment providers page in your Shopify admin.
Changing your store currency
Your store currency is the currency that is used in your Shopify admin. It's the currency that you price your products in and that's used in your reports.
You can view and change your store currency from the Store currency section of the Store details settings page.
Impact of changing store currency
Before you change your store currency, review the following impact of this change on your store:
- The currency of your product prices and discount rates update automatically, but not the amount. For example, if you change from USD to CAD, then a product that was listed as 20 USD is now listed as 20 CAD.
- The amount and currency of shipping rates aren't updated automatically.
- Gift cards with remaining balances in the old currency will no longer work.
- Apps that have currency requirements different from the new currency won't work after the currency has been changed.
- Changing your store currency might affect your reports, due to currency rate fluctuations and the report update cycles.
- Changing your store currency might affect orders with pending payments.
- Refunds processed after a currency change will also be affected by the currency change due to the difference in values.
- If you use a payment provider other than Shopify Payments, then the currencies of all of your markets will update to match the new currency. Learn more about changes to your primary market when you change your store currency.
- If you are using Paypal Express, then your new currency might not be supported.
Complete the following actions before you change your store currency:
- Resolve any pending payments before changing your store currency.
- Review your apps to make sure they are compatible with the new currency. If you're unsure whether an app will continue to work after changing your store's currency, then contact the app developer for clarification. Apps built by Shopify will continue to work with your new currency.
- If your store has PayPal Express activated, then make sure that the new store currency is supported by PayPal. If the new currency isn't supported by PayPal, then you need to deactivate the gateway before you switch, or consider a supported currency instead.
- From your Shopify admin, go to Settings > Store details.
- In the Store currency section, select your new store currency from the list. If you aren't able to select a new currency, then you need to contact Shopify Support to change your store currency.
- Click Save.
After you update your store currency, review and update the following store settings:
- Review and update your product pricing. Because the value of different currencies is rarely equal, a product's value will likely be different in a new currency, which can impact your profit margins.
- Review and adjust discounts to align with the new store currency.
- Delete your existing shipping rates, then add the rates back in manually to display rates in the new currency.
- Issue new gift cards to customers who have gift cards with remaining balances.
- If you aren't using Shopify Payments, then update your markets when you change your store currency.
Payouts in multiple currencies
If your business is based in Canada and your store is on the Advanced Shopify or Plus plan, then you can connect two bank accounts and receive payouts in CAD and USD currencies with Shopify Payments. Payouts are sent to separate bank accounts that are in each respective currency. For example, orders in CAD currency are routed to your CAD bank account, and orders in USD currency are paid out into your USD bank account.
Review the following details to learn more about getting paid in multiple currencies:
- Supported currencies: You can have one bank account per supported currency. Your bank account in CAD currency needs to be located in Canada, but your bank account in USD currency can be located in Canada or the United States.
- Payouts for orders in a currency without a dedicated payout account: Any currencies that don't have a dedicated payout account are exchanged into the currency of your default bank account and exchange fees are applied.
- Foreign exchange fees: When the payout currency and the currency you're selling in match, your customers don't have to pay a currency conversion fee. If you want to include this fee in your international pricing strategy, then consider using price adjustments for the associated market.
- Refunds: Refunds for payouts in multiple currencies work in the same way as other refunds. Credit card transaction fees aren't returned when you issue a refund. Learn more about refunding orders.
When you receive a payout in another currency, you're charged an international currency payout fee. These fees are based on your Shopify plan:
- If you're on the Shopify Plus plan, then you're charged a 1.25% payout fee.
All other Shopify plans are charged a 1.50% payout fee.
Here is an example internal payout fee calculation:
100 USD payout - (2% Shopify Payments fee + 0.22 USD) - 1.25% international currency fee = 96.53 USD.
International currency payout fees apply to payouts in non-domestic currencies, even if you aren't receiving payouts in multiple currencies.
For merchants based in Canada receiving USD payouts prior to May 24, 2023, if you choose to keep your existing setup with only USD payouts there will be no changes to your payout fees. However, if you decide to add a second CAD bank account to your store, then any payouts received in USD will be subject to an international currency payout fee.
Add a bank account for payouts
You can add a bank account to receive payouts in an international currency.
- From your Shopify admin, go to Settings > Payments.
- In the Shopify Payments section, click Manage.
- In the Payouts bank accounts section, click Add.
- In the Bank country section, select the country where your bank account is registered.
- In the Add a bank account section, enter your bank account number.
- In the Payouts currency section, select a currency in which you want your payouts to be paid out into your bank account.
- Click Add bank account.
Change your default bank account for payouts
After you add a second bank account for payouts, your first bank account is considered as your default account. Currencies that don't correspond to your bank account's currency are deposited to your default bank account.
For example, suppose you receive payouts in CAD currency in your first bank account and in USD currency in your second bank account, and you're also selling in EUR currency. If you receive an order in EUR currency, then EUR is exchanged into the currency of your default bank account, in this case CAD, and exchange fees are applied.
You can change your default bank account for payouts.
- From your Shopify admin, go to Settings > Payments.
- In the Shopify Payments section, click Manage.
- In the Payouts bank accounts section, click ... next to the bank account that you want to make as default.
- Click Make default, and then click Make default.
Legal and tax considerations
You should review any potential legal or tax implications involved with selling in a currency that is different from the one associated with the country where your store is located.