How Long Does Shopify Take to Pay Out? [Clear Explanation]

If you’ve just started using Shopify for your online business and are still unfamiliar with the platform, you may be wondering, “How long does Shopify take to pay out?” Don’t worry, we will help you understand this.

In this article, we’ll answer how long it takes to receive payments from Shopify and provide details about their payment process. Let’s get started now!

Overview of the payment process on Shopify

Shopify Payments serves as a helpful payment tool provided by Shopify to streamline payment reception for merchants. Opting for Shopify Payments eliminates the need to deal with the complexities of setting up a third-party payment gateway, offering you direct and hassle-free payment processing within your Shopify interface.

When customers make purchases, they input their payment details. Through Shopify Payments, their credit card payments are promptly processed.

Although there might be a brief lag between when a customer makes a payment and the funds coming into your account, this process applies to both Shopify Payments and other third-party providers.

The time it takes to transfer money from the payment platform to your bank account depends on your payment provider and bank. After the money arrives in your Shopify sales account, you can smoothly withdraw it to your bank account.

How long does Shopify take to pay you?

First payout: Waiting period

Getting your first payout from Shopify is often the most time-consuming. Like other payment platforms, Shopify takes time to test and calibrate your store, making sure everything is correct and secure. This end-to-end inspection may take up to 7 business days. This is just a one-time process; after that, payouts will be faster and more regular.

The following payment accounts: Time and frequency

Once you get through the first payment step, Shopify Payments will run on a regular schedule. For example, in the United States, it typically takes around 3 business days for the money from a sale to reach your bank account.

This time may vary depending on your country and bank preferences. At the same time, you can adjust the payment frequency as you like. Although the default is daily (except weekends and holidays), you can choose to be paid weekly or monthly.

Checkout times may vary depending on your store’s country preferences.

For example, if your store is based in Japan, you will receive payments every Friday. This is calculated from the order date plus the number of days remaining until Friday.

• If someone orders on Wednesday, Shopify will transfer the payment into your account within 8 workdays.
• If they order on Sunday, you’ll get the payment within 5 workdays.

How to check scheduled payouts

To check your scheduled payment accounts, visit your Shopify admin to better understand your payment configuration.

1. Navigate to Settings.
2. Select Payments.
3. Click the View Payments account button in the Shopify Payments section.

Here, you’ll see a list of payment accounts and the expected date you’ll receive your funds.

Each payment account will have a different status:

• In Action: Payment is still in process and not yet complete.
• Paid: Your payment has been sent from Shopify and is on its way to your bank account. Bank processing may take 1–5 business days.
• Failed: An error occurred during your deposit. Detailed information about the error will be displayed so you can resolve it.

If the payout fails, what should you do?

If payment fails, follow these steps:

1. Check instructions: Review the “Payment failed” message on your Payments page. It may provide instructions on updating banking information or retrying your account.
2. Update account information: Ensure your bank account details are accurate and valid. Once updated, failed payments can be automatically reprocessed within 72 hours.
3. Contact your bank: If your account is valid but the issue persists, contact your bank directly to investigate.
4. Learn more: Refer to Shopify’s Receive payments with Shopify Payments documentation for detailed guidance.

Factors Influencing Payout Times

Several factors affect how long it takes to receive funds from Shopify:

1. Bank Processing Time: Shopify may release funds within 3 business days, but banks can take longer to transfer them.
2. Payment Gateway: Using third-party gateways may add extra processing steps before funds reach your bank.
3. Holidays and weekends: Payments are not processed on weekends or holidays.
4. Trading Issues: Delays may occur due to payment authorization problems or additional verification requirements.

Conclusion

FAQ: How long does Shopify take to pay out? is a common concern for online retailers.

The payout time varies depending on your payment gateway, banking service, and geographic location. Shopify aggregates transactions before transferring them to your account, which optimizes the process but can make tracking individual orders and fees more complex.

While offering multiple payment gateways increases customer convenience, it also adds complexity when managing and comparing transactions.