Where does the money from Shopify go?
Shopify Payments transfers funds to the bank account you have entered on the Payment providers page in your Shopify admin.
How long does Shopify hold your money?
Does Shopify payments hold your money?
This means unless customers chargeback, this money is held/ “kidinapped” for 6 months by Shopify. Lastly, Shopify says you can use other payment providers who would take this risk: HOWEVER, Shopify collects fees for Stores using any other payment providers as well.
What exactly does Shopify do?
Shopify is a subscription to a software service that offers you to create a website and use their shopping cart solution to sell, ship, and manage your products. Using their service, you can get access to easy to use admin panel where you can add products, process orders and enter store data.
Does Shopify take a percentage of sales?
Basic Shopify charges 2.9% + $0.30 per transaction, while Advanced Shopify drops just half a percentage point to 2.4% + $0.30. But Shopify’s transaction fees aren’t your only option, and this Q&A should throw some light on the alternatives.
How often does Shopify payout?
The pay period is 5 days plus the number of days remaining until Friday. For example, if your customer places an order on your store on a Wednesday, then the funds from that order are sent to your bank account on the Friday of the following week, 8 business days later.