Transferring funds with Shopify Balance

You can transfer funds between your Shopify Balance accounts, to your Shopify Balance accounts from a connected bank account, and from your Shopify Balance account to a bank account. Shopify Balance transfers are sent immediately, but they can take up to 6 business days to be delivered. You can view your remaining daily transfer limit on the Balance page in your Shopify admin.

Transfer funds between your Shopify Balance accounts

If you already have multiple Shopify Balance accounts set up, then you can transfer funds between them.

To set up additional Shopify Balance accounts, learn more about creating multiple Shopify Balance accounts.

Steps:

1. From your Shopify admin, go to Finance.

2. Click Transfer funds.

3. From the From drop-down menu, select the Shopify Balance account that you want to transfer the funds from.

4. From the To drop-down menu, select the Shopify Balance account that you want to move the funds to.

5. Enter the amount you want to transfer.

6. Click Review details.

7. Click Transfer funds.

Transfer funds between your Shopify Balance account and a connected bank account

You can transfer funds from a bank account that you've connected to your Shopify Balance account and from your Shopify Balance account to a bank account. Funds can take up to 6 business days to arrive in your Shopify Balance account. If you need to cancel a transfer, then you must cancel it within the first 2 days after the transfer is authorized. You can transfer funds to your Shopify Balance account or from your Shopify Balance account.

Transfer funds to your Shopify Balance account

You can transfer money to your Shopify Balance account from a bank account using your Shopify Balance account details.

Steps:

1. From your Shopify admin, go to Finance.

2. Click Main.

3. Select the account that you want to add money to.

4. To copy your Shopify Balance account details, complete the following actions:

   1. Click Account settings, then click Show details.
   2. Click the clipboard icon.

5. Log in to your existing business or regular bank account where you want to draw the money from.

6. Follow your bank's regular process to transfer money out of your bank account using your Shopify Balance account details.

Transfer funds from your Shopify Balance account

You can transfer funds from your Shopify Balance account to a connected bank account. Most transfers submitted before 1:00 pm EST arrive on the same day. Transfers submitted after 1:00 pm EST or on weekends and holidays are processed the next business day.

For security reasons, you might receive a prompt to authenticate your account again.

Steps:

Remove a connected bank account from your Shopify Balance account

If you no longer want a bank account connected to your Shopify Balance, then you can remove it in your Shopify admin.

Steps:

1. From your Shopify admin, go to Finance.

2. Click More actions > Connected bank accounts.

3. Click for the bank account that you want to remove.

4. Click Delete account.

Send money to a recipient

You can send money directly to individuals or businesses by saving them as recipients with their bank account details.

Add a recipient

Before you can send money to a recipient, you need to add their details.

Steps:

1. From your Shopify admin, go to Finance.

2. Click More actions, and then click Recipients.

3. Click Add.

4. Select Individual or Business.

5. Enter a legal name and a nickname for the recipient, and then click Save.

6. In the Accounts section, click Add details.

7. Choose the delivery method for this bank account:

   • Automated clearing house (ACH) transfer: There is no charge for ACH transfers.
   • United States domestic wire: A $10 USD fee applies per transfer.

8. Enter the recipient's routing number and account number, and then click Add.

You can add multiple bank accounts to a recipient. Ensure that the routing number matches the delivery method you selected — many banks have separate routing numbers for ACH and wire transfers. Using the wrong routing number might cause delays or a failed transfer.

Send money to a recipient

After you've added a recipient, you can send them money from your Shopify admin or the Shopify Balance mobile app.

Steps:

Remove a recipient from your Shopify Balance account

You can remove a recipient from your Shopify Balance account in your Shopify admin or in your Shopify Balance app.

Steps:

Automatic transfers between your Shopify Balance accounts

Automatic transfer rules let you manage and automate how you distribute your Shopify Payments payouts across your Shopify Balance accounts. You can choose which transactions and bills to prioritize so they're paid on time. You can distribute your funds across multiple Shopify Balance accounts to cover expenses such as employee payroll, inventory purchases, and marketing. You don't need to set up a separate Shopify Balance account to collect sales tax. When you open a Shopify Balance account and activate sales tax collection, an additional Shopify Balance account is created.

Set up automatic transfers

You can create up to five additional Shopify Balance accounts dedicated to different expenses and have funds automatically transferred to those accounts when your Shopify Payments payouts are paid out. For example, you could create separate Shopify Balance accounts for your own pay, employee payroll, marketing, inventory, and savings and then create an automatic transfer rule to have payouts divided into these accounts. You can customize the percentage of payouts that are sent to each account. The following are some examples of how you can allocate your funds:

• Owner's pay-first: Reserve a margin up front for your own payroll, and then limit spending to the remainder of your funds.
• Growth-first: Prioritize future growth by funding ads and supplier payments before other expenses.
• Commitments-first: Cover payroll and payables first, and then allocate the remainder of your funds.

Steps:

1. From your Shopify admin, go to Finance.

2. Click Transfer funds.

3. Click Auto-transfers.

4. Optional: If you want to control how your sales tax is managed, then select Set aside sales tax to edit your tax settings at any time.

5. Select Distribute remaining funds across accounts.

6. Select one or more Shopify Balance accounts that you want to distribute your payouts to. If you need to create a new Shopify Balance account for a specific purpose, then click .

7. Assign a percentage of funds to each account.

8. Review the automatic transfer rule, and then click Confirm.

Your bank is unavailable on Plaid

If your bank isn't available on Plaid, then you can log in to your bank account and transfer funds using your Shopify Balance account's routing and account numbers. Funds transferred using your Shopify Balance account's routing and account numbers might take up to 3 business days to be available in your Shopify Balance account.