Multi-Currency Payouts on Shopify: Requirements, Setup & Fees

If your store sells to customers in multiple countries, setting up payouts in different currencies can help reduce conversion losses and simplify your payout flow.

However, this feature is only available if your store meets certain plan and regional requirements. Also keep in mind that additional fees may apply when receiving payouts in foreign currencies.

Multi-Currency Payout Requirements

Before setting this up, make sure your store meets the requirements. If everything is in place, you’ll be able to add up to 8 bank accounts in different currencies.

Plan Requirements

The feature is not available on all Shopify plans. If your plan does not support multi-currency payouts, you can still sell in different currencies, but all payouts will be automatically converted into your store's primary currency.

• Basic, Grow, and Shopify — payouts only in the primary currency
• Advanced and Shopify Plus — multi-currency payout support (up to 8 accounts)

Important: for stores from Canada on Basic or Grow plans, the option to receive payouts in USD instead of CAD is available, but with a fee.

Additional Requirements

To activate multi-currency payouts, the following is required:

• The store must be on the Advanced or Shopify Plus plan
• The business must be registered in a supported region
• The bank account must be located in a supported country
• The account must be registered under the store owner's name

Available Regions

The feature does not work in all countries. It is also important to understand that payouts in the primary currency are not subject to additional fees, while all other currencies are.

You can determine the base payout currency for your region in the your payout settings in the admin. Below is a compatibility table for regions and currencies:

Store Location	Bank Account Countries	Additional Available Payout Currencies
Australia	Australia	NZD, USD
European countries (Germany, France, Spain, Italy, Austria, Belgium, etc.)	Supported European countries, United Kingdom, United States (exclusively for USD)	AUD, CAD, CHF, CZK, DKK, GBP, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR
Canada	Canada, United States	USD
Hong Kong	Hong Kong	EUR, GBP, JPY, USD
Singapore	Singapore (SGD, USD), European IBAN (EUR), United Kingdom (GBP), Japan (JPY)	EUR, GBP, JPY, USD
UAE (Plus plans only)	UAE	USD
United Kingdom	Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, United States (USD only)	AUD, CAD, CHF, CZK, DKK, EUR, HKD, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR
United States	United States (USD), Australia (AUD), Canada (CAD), Europe (EUR), United Kingdom (GBP)	AUD, CAD, EUR, GBP

Bank Account Requirements

The bank accounts you can use to receive payouts depend on your location and the account currency.

Legal Entity Location	Allowed Account Locations	Notes
Europe	Europe (IBAN), United States (USD only)	Accounts must have an IBAN to conduct transactions in the selected currency. US dollars can be withdrawn either to accounts in the US or via a European IBAN.
United Kingdom	United Kingdom (GBP, USD), Europe (IBAN), United States (USD only)	Payouts in British pounds are sent strictly to accounts within the UK. US dollars can be credited to a UK IBAN, a European IBAN, or an account in a US bank.
Australia	Australia only	Only bank accounts in Australia are supported for processing payouts.
Canada	Canada, United States	You can receive payouts in Canadian and US dollars using a Canadian bank account, or payouts in US dollars using a US bank account.
Hong Kong	Hong Kong	All payouts, including Hong Kong dollars, US dollars, euros, British pounds, and Japanese yen, must be made to a bank account in Hong Kong.
Singapore	Singapore (SGD, USD), Europe IBAN (EUR), United Kingdom (GBP), Japan (JPY)	You can receive payouts in Singapore dollars (SGD) or US dollars (USD) using a bank account in Singapore. Payouts in euros (EUR) can be received using a European IBAN, payouts in British pounds (GBP) using a bank account in the UK, and payouts in Japanese yen (JPY) using a bank account in Japan.
UAE	UAE	You can receive payouts in UAE dirhams or US dollars using a bank account in the UAE. Multi-currency payouts in the UAE require a Shopify Plus plan.
United States	United States (USD), Australia (AUD), Canada (CAD), Europe (EUR), United Kingdom (GBP)	Standard payouts are made to US bank details. To work with other currencies (e.g., euros or pounds), accounts opened in the respective foreign regions will be required.

Setting Up Multi-Currency Payouts

If your store meets the requirements, you can add additional accounts to receive payouts in the required currencies.

When a customer pays for an order in a specific currency, the funds are credited to the corresponding account without conversion.

Adding a New Payout Account

For businesses located in regions like Canada, where both Canadian dollars (CAD) and US dollars (USD) are widely used, you can link two bank accounts to receive payouts in each currency. You can also add a bank account to receive payouts in a foreign currency.

In the Shopify admin:

1. Go to Settings → Payments
2. Open the Shopify Payments → Manage section
3. In the payouts block, click Add bank account
4. Select the account currency
5. Specify the country where your bank account is located
6. Add the owner's details and bank credentials
7. Add your bank account information. The required information depends on the country where your bank account is located. For example, if you select Germany as the country where your bank account is located, you will be able to add an IBAN.
8. Click "Next" to add the bank account.

Primary Payout Account

One of the accounts must be designated as the primary account. If this is not done, the system will assign the account specified during initial registration as the primary one.

If a buyer makes a payment in a currency for which you do not have a dedicated account, the money is sent to your primary account.

To assign a primary account, follow these steps:

1. In the Shopify admin panel, go to Settings > Payments.
2. In the Shopify Payments section, click "Manage".
3. In the "Payout accounts" section, click the three dots (...) next to the bank account you want to set as default.
4. Click "Set as default".

Replacing a Bank Account

You can replace a bank account at any time: to do this, you need to confirm the current details and specify the new account. At the same time, the currency must remain the same (for example, if the old account was in EUR, the new one must also be in EUR).

Removing a Bank Account

If a currency is no longer used, the account can be removed. In this case, payouts will be automatically redirected to the primary account.

Considerations for Multi-Currency Payouts

Supported Currencies and Bank Accounts

A separate bank account is required for each supported currency. For example, your Canadian dollar bank account must be located in Canada, while your US dollar bank account can be located in either Canada or the United States.

Processing Orders in Currencies Different from the Account Currency

If you receive an order in a currency for which you do not have a separate bank account, the funds are converted into the currency of your primary account. A fee is charged for the currency conversion.

Refunds in Multiple Currencies

Refunds are issued in the same currency as the original order. The refund amount is debited from the bank account in the specified currency.

If you do not have a bank account in the currency in which the original order was placed, the refund will be debited from your primary bank account in the national currency.

For example, if you remove a bank account after an order is placed, the refund will be debited from your primary account.

Chargebacks in Various Currencies

Chargebacks are processed in the same currency as the original order. If a customer disputes a payment, the refund amount is debited from the bank account in that currency. If you do not have a bank account in the currency in which the original order was placed, the chargeback amount will be debited from your primary bank account. A currency conversion fee may apply.

Fees for Multi-Currency Payouts

The fee applies only if the payout occurs in a currency other than the store's primary currency.

• Payouts in the primary currency — no fee
• Payouts in other currencies — with a fee

Important: the fee depends not on the conversion, but on the payout currency itself.

For example, if you are located in Canada and your national currency is the Canadian dollar:

• For transfers to your bank account in Canadian dollars, the multi-currency payout fee is not charged.
• For transfers to your bank account in US dollars, the multi-currency payout fee is charged.

Fee Amount

The rate depends on the plan and region:

• Advanced — around 1.5%
• Shopify Plus — lower (approximately from 1% to 1.25%)

Legal and Financial Aspects

Before setting up and expanding into international markets, it is important to consult with a lawyer or a tax specialist.

This will help:

• Comply with the laws of different countries
• Correctly account for taxes
• Avoid financial risks

If you have any questions about setting up multi-currency payouts or need help with integration, feel free to reach out to us. We’ll help you figure things out and set everything up for your specific use case.

Email: info@icestoregroup.com
Telegram: https://t.me/icestoregroupshopify