Managing Multi-Currency Payouts with Shopify Payments

For stores with a broad international customer base, handling payouts in multiple currencies can help you optimize the payment process. On this page, you can find detailed information on how to handle Multi-Currency Payouts using Shopify Payments, including adding multiple bank accounts, understanding international payout fees, and the implications of selling in various currencies.

Eligibility for Multi-Currency Payouts

If you want to receive payouts in multiple currencies, then you must adhere to certain Shopify subscription, location, and bank account requirements.

Eligible Shopify plans

If you're on the Advanced Shopify plan, or Shopify Plus plan, then you can add up to a total of 8 bank accounts in different currencies. This means you can avoid certain currency exchange fees when receiving payouts, processing refunds, or dealing with chargebacks, if you have an account set up in the relevant currency. The currencies you can receive payouts in depend on the region your store is based in and the bank account you want to use.

Note

If you're on the Basic Shopify, or Shopify plan, then you aren't eligible for multiple payout currencies. You can receive payouts only in your domestic currency, but you can sell in multiple currencies. Learn more about selling in multiple currencies. Basic Shopify and Shopify plan merchants in Canada can choose USD as their default currency instead of CAD, and a 1.5% payout fee applies.

Eligible regions

Multi-Currency Payouts are available only for merchants located in certain regions. Payouts that you receive in your domestic currency aren't charged a payout fee. Learn more about supported payout currencies.

Each additional currency that you add is subject to a fee depending on your plan and region. Multi-Currency Payouts are available in the following regions:

Regions where Multi-Currency Payouts are available, and the possible, non-domestic currencies you can choose from.

Store location	Currencies supported with Multi-Currency Payouts
Australia	NZD, USD
Austria	AUD, CAD, CHF, CZK, DKK, EUR, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR
Canada	USD
Germany	AUD, CAD, CHF, CZK, DKK, EUR, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR
Italy	AUD, CAD, CHF, CZK, DKK, EUR, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR
Netherlands	AUD, CAD, CHF, CZK, DKK, EUR, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR
Spain	AUD, CAD, CHF, CZK, DKK, EUR, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR
United Kingdom	AUD, CAD, CHF, CZK, DKK, EUR, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR

Bank account requirements

The bank accounts you can use to receive payouts, depends on where you're located and the currency of the account. There are certain currency and bank account requirements that you must fulfill in order to use the currency and bank account to receive payouts:

• Merchants based in Europe:
  • Bank accounts must be based in Europe with a supported International Bank Account Number (IBAN) that can pay out in the selected currency.
• Merchants based in the United Kingdom:
  • You can only have GBP payouts issued to a bank account based in the United Kingdom (UK).
  • You can receive international currency payouts by using a European bank account with a supported IBAN that can be paid out in the selected currency.
  • USD can be added with a US-based bank account.
  • USD can also be added with a UK or European IBAN.
• Merchants based in Australia:
  • Only bank accounts based in Australia are supported.
• Merchants based in Canada:
  • You can receive payouts in USD and CAD by using a bank account in Canada that pays out in CAD or USD.
  • You can receive payouts in USD by using a bank account located in the United States that can pay out in USD.

Setting up Multi-Currency Payouts

If you're on the Advanced Shopify plan, or Shopify Plus plan, in an eligible Shopify Payments region, you can set up more than one bank account with Multi-Currency Payouts. With Multi-Currency Payouts, you can add a secondary payout account in an international currency, and orders paid for in that currency will be paid out to that bank account. Multi-currency payouts allows you to sell in a secondary currency and receive payouts in that currency without incurring Foreign Exchange (FX) fees.

Add a bank account for Multi-Currency Payouts

If you're on the Advanced Shopify plan, or Shopify Plus plan, in an eligible Shopify Payments region, you can set up more than one bank account with Multi-Currency Payouts. For example, for business located in Canada, you can link two bank accounts and receive payouts in both CAD and USD. You can add a bank account to receive payouts in an international currency.

Steps:

1. From your Shopify admin, go to Settings > Payments.

2. In the Shopify Payments section, click Manage.

3. In the Payout accounts section, click Add bank account.

4. In the Payout currency section, select the currency of your bank.

5. In the Bank account country section, enter the country your bank account is located in.

6. In the Account owner section, add the name that displays on the bank account that you want to add.

7. Add your bank account information. The information you need to enter depends on the country your bank account is located in. For example, if you select Germany as the country your bank account is located in, you can add an International Bank Account Number (IBAN).

8. Click Next to add the bank account.

Set a default bank account for payouts

If you use Multi-Currency Payouts, and add additional bank accounts to your Shopify Payments account, then you must set one of the bank accounts as your default. If you don't set a default account, then the bank account you add during the setup of Shopify Payments is considered your default account for payouts.

Your default bank account is the account payouts are sent to if you don’t have a bank account set up in the currency used to pay for an order. For example, you are based in the United Kingdom, and you have accounts set up in Great British Pounds (GBP) and United States Dollar (USD). Orders placed in GBP are paid out to your GBP bank account, and orders placed in USD are deposited to your USD account. If you receive an order in another currency - for example, Canadian Dollars (CAD) - then these funds are exchanged into your GBP and deposited into your default, GBP account.

Steps:

1. From your Shopify admin, go to Settings > Payments.

2. In the Shopify Payments section, click Manage.

3. In the Payout accounts section, click ... next to the bank account that you want to make as default.

4. Click Set default.

Replace a bank account

You can replace a bank account you have added at any time, from your Shopify admin:

Steps:

1. From your Shopify admin, go to Settings > Payments.

2. In the Shopify Payments section, click Manage.

3. In the Payout accounts section, click ... next to the bank account that you want to replace.

4. In the Confirm old bank account section, enter the details of the account you want to replace.

5. In the Bank account section, enter the Account owner name, and bank accounts details of the account you want to add. It isn’t possible to change the country and currency of the account you want to add. The account you want to add must be in the same currency as the account you're replacing.

6. Click Next.

Delete a bank account

If you no longer want to receive payouts in a specific currency, then you can delete the payout account from your Shopify admin:

1. From your Shopify admin, go to Settings > Payments.

2. In the Shopify Payments section, click Manage.

3. In the Payout accounts section, click ... next to the bank account that you want to delete.

4. On the delete currency dialog, you can review the account that future payouts of this currency will be deposited to. Payouts will be deposited to your default account if an account in that currency isn’t added.

5. Click Confirm to delete the account.

Considerations for Multi-Currency Payouts

Review the following considerations to learn more about getting paid in multiple currencies:

• Supported currencies: Each supported currency must have a dedicated bank account. For example, your bank account in CAD currency needs to be located in Canada, but your bank account in USD currency can be located in either Canada or the United States.
• Handling orders in non-account currencies: Orders placed in currencies that don't have a specific payout account are exchanged into the default account's currency, applying the appropriate exchange fees.
• Refunding in multiple currencies: Refunds are processed in the same currency as the order was placed in. Learn more about refunding orders.

Fees

Multi-currency payout fees are charged for any bank account that is set up in a non-domestic currency. Domestic currency is dependent on your Shopify Payments region and can be found here.

If you add additional payout bank accounts in different currencies to your domestic currency, then you will be charged a percentage fee per payout. The fee you pay is dependent on your location and the Shopify plan you are on.

International payout fees for adding additional, international bank accounts to receive payouts in Shopify Payments.

Region	Advanced Shopifuy plan	Shopify Plus plan
Global regions	1.5%	1%
Canada	1.5%	1.25%

Legal and financial considerations

Before engaging in multi-currency selling or setting up Multi-Currency Payouts, you should consult with a legal or tax expert to understand any potential implications related to international commerce. This helps ensure compliance with applicable laws and regulations and will help you to make informed decisions about your international sales strategy.