How to Add a Bank Account to Pay for Your Invoices on Shopify

Adding a bank account to pay for your invoices is an essential step for running an online store on the Shopify platform. This process is available to all Shopify merchants, regardless of their plan. By setting up a verified bank account, you ensure that your subscription fees and other invoices are paid seamlessly.

Step 1: Go to Settings and Select Billing

After logging into your Shopify admin interface, click on the Settings option (represented by a gear icon) located at the bottom left corner of the interface.

Next, in the Settings menu, click on Billing.

Step 2: Click Add Payment Method and Select Bank Account

• In the Current billing cycle section, click Edit billing profile.
• To add a new bank account, click Add payment method.
• If you’re replacing an existing bank account, click the … button next to the current bank account and select Replace. If necessary, choose Bank account as the Payment method type.

Step 3: Enter Billing Information for the New Bank Account

Once you’ve chosen to add a new bank account, you’ll need to provide Shopify with your bank account details. Enter the account number and routing number. You’ll also need to specify the account holder’s name and indicate whether the account is a Personal or Business account.

Step 4: Click Start Verification

After entering all the necessary information, click Start verification to begin the verification process.

Step 5: Confirm the Deposits

Within 1-3 business days, Shopify will make two small deposits (each less than $1.00) into your bank account. Once you receive these deposits, return to the Billing information section in Shopify and enter the exact amounts in the corresponding fields to confirm the account.

Step 6: Set the Verified Bank Account as Your Active Payment Method

If you want to use the newly verified bank account as your primary payment method, check the box labeled Make this bank account my active payment method.

Step 7: Complete Verification

After confirming the deposits and setting the account as your active payment method, click Finish verification to complete the process.

If the verification is successful, the bank account you registered will be listed as Active. From this point onward, this account will be used to pay for your Shopify invoices.

What to Do If Verification Fails

If your bank account verification fails, Shopify will notify you with a message stating that the verification was not successful. In such a case, double-check the bank account details you’ve entered. If the problem persists, contact your bank to resolve any issues. Additionally, you can reach out to Shopify Support for further assistance.

Summary

Adding a bank account to pay for your invoices on Shopify is a straightforward process that all merchants can complete. Be sure to enter your bank account details accurately and follow the verification steps closely. If you encounter any issues, don’t hesitate to seek help from your bank or Shopify Support.

Related Posts:

• How to Edit Bank Account Information on Shopify
• Shopify Payment Schedule: How to Schedule Your Payouts
• How To Change Shopify Payment Method