Manage your payout method
Partners have several ways of receiving payouts, including PayPal, Bank Account, and Wire Transfer. Access to specific payout methods depends on your country or region and the currency that you want the payout converted to. For example, in Canada, with a final payout in CAD, you might have access to PayPal and Bank Account payout methods.
Before you can add a new payout method, you need to create a Hyperwallet account in the Partner Dashboard. When you create a Hyperwallet account, you're agreeing to the Hyperwallet terms of service and privacy policy.
All communications about payout methods using Hyperwallet will come from Shopify by email or through the Partner Dashboard. Any changes to your Hyperwallet account or payout methods should only be made through the Partner Dashboard.
On this page
Fees
Shopify payouts are always issued in USD, however, new payout methods allow you to receive your final payout in another currency, including your local currency in most cases. You're responsible for paying any currency conversion fees.
Receiving payouts in USD
If you receive your payouts by PayPal, Bank Account, or Wire Transfer in USD, and then convert to another currency after the payout has reached your PayPal wallet or financial institution, then the payout will be subject to the exchange rates and currency conversion fees that are set by PayPal or your financial institution.
Receiving payouts in a currency other than USD
If you choose to receive your final payout to PayPal, Bank Account, or Wire Transfer in a currency other than USD, then the currency conversion will be done by Hyperwallet before it reaches your PayPal wallet or financial institution, and is subject to the following base exchange rate and currency conversion fees:
- The base exchange rate is based on rates within the wholesale currency markets on the conversion day or the prior business day, or if required by law or regulation, set at the relevant government reference rate.
- The currency conversion fee, equal to 0.50% of the payout amount, is applied and retained by Hyperwallet. Shopify has secured this preferred currency conversion fee in collaboration with Hyperwallet to benefit Shopify Partners.
Identity verification
In some countries or regions, you might be required to verify your identity to receive payouts.
If you operate as a business (such as a limited liability company, partnership, or corporation), then you might need to provide identity verification details before receiving your first payout. If you operate as an individual (such as sole proprietorship or single-member limited liability company), then you might be required to provide identity verification details when your earnings reach a certain threshold. Shopify notifies you by email if identity verification is required and directs you to provide the required information and documentation in the Partner Dashboard.
Compliance checks
In some countries or regions, and for some currencies, Hyperwallet and your bank or financial institution might require more information to process a payout. The thresholds and requirements for compliance checks are different depending on the country or region of operation. Shopify notifies you by email if a payout is on hold because more information is required.
Payout on hold or failed
Hyperwallet will put a payout on hold (or indicate that the payout has failed) if the payout method details are incorrect. You'll receive an email from Shopify asking you to change your payout method or to contact Shopify Support.
Hyperwallet will also put a payout on hold (or indicate that the payout has failed) if the payout amount exceeds the transaction limit for that payout method.
In general, payouts have the following transaction limits:
- PayPal - up to 100,000 USD
- Bank Account - up to 500,000 USD
- Wire Transfer - up to 5,000,000 USD
If your payout method exceeds the general limits listed above, or the limits specific to your country or region and currency, then you'll receive an email from Shopify asking you to change your payout method.
You can retry processing a failed payout from the Partner dashboard.
Create a Hyperwallet account
Creating a Hyperwallet account gives you access to all the payout methods available in your country or region and currency. If your company is a business (such as a limited liability company, partnership, or corporation), then you might need to provide business-specific information to complete the account creation.
Steps:
From your Partner Dashboard, go to Settings.
In the Payouts section, click Manage payout method.
In the Hyperwallet account section, fill in the fields, and review the Hyperwallet terms of service.
Click Submit.
You'll receive an email from Shopify confirming the account creation.
Make changes to your Hyperwallet account
You can make changes to your Hyperwallet account details in the Partner Dashboard. If you make changes to your Hyperwallet account, then you'll need to add a payout method again.
Steps:
From your Partner Dashboard, go to Settings.
In the Payouts section, click Manage payout method.
In the Hyperwallet account section, make changes to fields, and review the Hyperwallet terms of service and privacy policy.
Click Submit.
You'll receive an email from Shopify confirming the changes to your Hyperwallet account. You'll need to add a payout method, because the change resets your account.
View your current payout method
Steps:
From your Partner Dashboard, go to Settings.
In the Payouts section, under Payout Method, view the details of your current payout method.
You can also click Manage payout methods to view your current payout method and the other payout methods available for your country or region.
View available payout methods by region and currency
The available payout methods are different depending on the country or region and the currency that you select.
Steps:
From your Partner Dashboard, go to Settings.
In the Payouts section, click Manage payout method.
In the Payout method details section, under Add transfer method, select your Country/Region first, and then your Currency.
You'll view the transfer methods available for your country or region and currency.
Add a payout method
You can only have one payout method. If you want to make changes to your current payout method, then you need to add a new payout method to replace the old one.
Requirements
- You've created a Hyperwallet account.
- You have your banking and account details ready, if applicable
Steps:
From your Partner Dashboard, go to Settings.
In the Payouts section, click Manage payout method.
In the Payout method details section, under Add transfer method, select the Country/Region of your PayPal account or bank account first, and then your Currency. You'll view the transfer methods available for your country or region and currency.
Click the transfer method that you want to add.
Fill in the fields, and then click Submit.
The new payout method details are now under Current payout method and you'll receive your next payout by this method. You'll also receive an email from Shopify confirming the new payout method.