Shopify bank account verification and failed payouts

The two common bank problems

Shopify payouts can stop for bank reasons in two ways: the bank account cannot be verified as yours, or a payout is sent and the bank rejects it. Both usually come down to details you can fix yourself.

Bank account requirements

• The name on the bank account must match the legal business name or the account representative on your Shopify Payments account.
• It must be a checking or current account that can receive transfers. Shopify says savings accounts and some money-transfer services are not supported.

If Shopify asks you to verify ownership

Shopify may ask for a recent bank statement (it says issued within the last 6 months) showing the account holder name, account details, bank name and issue date. Upload it only through the secure request in Settings > Payments. Shopify says not to email bank documents to Support.

Shopify notes that some payouts may be paused until the bank account is verified.

If a payout failed

• Open the Payouts page and read the "Failed payout" message.
• Common causes Shopify lists: incorrect details, no matching account, unsupported currency or account type, a beneficiary name mismatch, or a closed account.
• Fix the cause, then reactivate payouts. Shopify says replacing the bank account reactivates payouts automatically.
• If the details are correct and the payout still fails, contact your bank. If you cannot update the details yourself, contact Shopify Support.

After you change bank accounts

Shopify says a recent change can temporarily hold payouts while the new account is reviewed, and that a payout already on its way still goes to the old account.