Shopify Payments for the United Kingdom
Businesses based in the United Kingdom can use Shopify Payments to accept Visa, Mastercard, American Express, Maestro, Discover, Diners Club, and UnionPay debit and credit cards.
Requirements for Shopify Payments
To use Shopify Payments, ensure that you can meet the following requirements.
Some types of businesses and services are not permitted to use Shopify Payments. To see whether you can use Shopify Payments, check the list of prohibited business types for the United Kingdom.
More details can be found in the Shopify Payments Terms of Service (TOS).
Bank account requirements for Shopify Payments
Make sure that your bank account meets the following requirements before you connect it to Shopify Payments:
- The bank account is a full checking account (current account) with a bank in the United Kingdom in GBP currency.
- The bank account is eligible for FPS transfers.
Checking accounts that are set up to accept only wire transfers don't work with Shopify Payments. Savings accounts, flex-currency accounts, and money-transferring services that mimic bank accounts aren't supported by Shopify Payments. Although virtual bank accounts are supported, you might experience more payout failures with these accounts.
To confirm that your account can accept the transfer type listed for your region, contact your bank.
Personal information requirements for Shopify Payments
In response to regulations in different countries, you're required to provide information about you and your business. The information is collected to help identify merchants using Shopify Payments, including the beneficial owners of a particular corporate entity. The purpose of collecting this information is to comply with regulatory requirements designed to prevent money laundering, terrorist financing, and other financial crimes.
As local rules and regulations evolve, Shopify and its partners might contact you to collect additional information about you and your business. These standard reviews can occur at any time during the lifespan of your Shopify Payments account.
The information that Shopify is required to collect differs from country to country, but typically includes details about the following:
- the individual creating the Shopify Payments account
- the business associated with the Shopify Payments account
- the individuals who ultimately own or control the business, which includes the business owner or a senior executive with legal signing authority for the business
To help the verification process, when providing documents as evidence, ensure that your documentation:
- is clear and and large enough to read
- is correct, valid, and up-to-date
- is complete with all details visible
- is free of any errors or typos
- matches the information provided
Acceptable document types for individuals and businesses in the United Kingdom include the following.
- Driver license
- Resident permit
- Citizen card
- Electoral ID
- Validate UK
- Driver license
- Utility bill
- Bank statement
- Government-issued letter
- Solicitors letter
- Council or housing association documentation
- Benefits Agency documentation
- Electoral Register entry
- NHS Medical card
- GP letter of registration with the surgery
- VAT registration
- Certificate of Incorporation
- Companies House Document
- HM Revenue and Customs: VAT certificate
- HM Revenue and Customs: account statement
- Charity Commission Document
- OSCR Scottish Charity Regulator
In most countries, when your business is a sole proprietorship you're automatically set up to accept all major payment methods as soon as you create your Shopify store with Shopify Payments activated. Your card rate is based on your store's Shopify subscription plan, and you can change plans whenever you want.
Businesses in the United Kingdom can accept Visa, Mastercard, American Express, Maestro, Discover, Diners Club, and UnionPay debit and credit cards. Accepting Discover automatically allows acceptance of Elo.
Your pay period refers to the amount of time between the date that a customer's payment is captured and the date that those funds are sent to your bank account. The date and time that a customer's payment is captured is recorded in UTC time. Funds from payments that are captured on Friday, Saturday, and Sunday are grouped and sent together as one payment.
In the United Kingdom, the pay period is 3 business days. The minimum amount that can be paid out for Shopify Payments accounts in the United Kingdom is 1 GBP. If there's a payout for less than this amount, then the payout stays in pending state until more funds are available to pay out.
Learn more about getting paid with Shopify Payments.
As a merchant, you are required to abide by all applicable regulations, including tax reporting. Depending on your jurisdiction, Shopify Payments might also be required to report your sales to the local tax authorities.