If you were going to use Shopify to build your eCommerce store, you will want to understand how Shopify pays their shop owners. Shopify has their own proprietary system that they use to process your customers payments. At regular intervals Shopify will pay their shop owners the amount due minus any applicable credit card processing fees. This does not include your monthly charge to use the Shopify. The good thing about using Shopify that it is already integrated into your store. You do not have to worry about fixing things when they go wrong. Although it is a 100% safe way of doing business one line, you may be wondering how they will pay you.
If you live in the United States or Australia you can have your money transferred in as little as three business days. Keep in mind that business days are Monday through Friday. Unfortunately, if you live in Canada or the United Kingdom, you will have to wait 7 business days. You will also want to remember that on each country’s respective federal holidays, the banks will be closed.
Shopify will let you withdraw money daily. So you can always be one step ahead of them when receiving your money. Processing speed are typically much faster than what they say. Many people claim to have received their money and 24 to 72 hours.Chances are good that they will have same day transfers at some point. Many eCommerce credit card processors have gone to same-day payments.
Lastly, Shopify may hold funds to check for fraud when you first set up your store. They could be held up to 30 days, especially if you sell and the electronics category.
Shopify is an easy platform to learn to use. It is a lot easier than having to set up an e-commerce store yourself. If you want to find out more about how to use Shopify and some secrets that you will not hear of widely spoken, enter your email address below and we will send you our free report.
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