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Eligibility requirements for Shopify Balance

Shopify Balance is a commercial card available only to merchants with a physical residential address in the United States or Puerto Rico. If eligible, then you'll automatically receive a Shopify Balance account when activating Shopify Payments for the first time. Your account will be available to use as soon as your first Shopify Payments payout arrives or your identity is verified.

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Shopify Balance account requirements

To be eligible for a Shopify Balance account, you need to meet the following requirements:

  • You must have a physical residential address in the United States or Puerto Rico. Other U.S. territories aren’t supported.
  • You must provide a business address where your business physically operates and is located. Registering agents, virtual addresses, co-working spaces, and mail box services aren't eligible business addresses.
    • You should enter the address where your business physically operates, even if it is different from what is shown on your documents.
  • You must have a valid U.S. Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
  • Shopify Payments must be set up or activated when setting up for Shopify Balance. If you deactivate Shopify Payments, then you must also close your Shopify Balance account.
  • You must have two-step authentication activated on your Shopify account.
  • Your store must be actively subscribed to a Shopify plan.
  • Your business type must not be prohibited from using Shopify Payments. Review the Shopify Payments Terms of Service for the United States to ensure your business type isn't prohibited.
  • You must meet the same information requirements as Shopify Payments. This might include verifying additional details or your identity. Learn more about identity requirements and address verification when using Shopify Payments.

Account requirements for businesses with multiple owners

If your business has multiple owners, then you must additionally meet the following requirements:

  • The authorized representative that's opening the account must provide their SSN or ITIN.
  • The authorized representative that's opening the account must have a physical residential address in the United States or Puerto Rico. Other U.S. territories aren’t supported.
  • Any beneficial owners with 25% or more ownership must provide proof of identity. This can be either an SSN, ITIN, or a government-issued photo ID such as a passport.

Shopify Balance card use requirements

Shopify Balance is a commercial card, and you can only use the card for business purposes. Any use of your Shopify Balance card for personal, family, or household purposes may result in immediate termination of your Shopify Balance account.

Shopify Capital remittances or repayments

Because your Shopify Balance account is connected to your Shopify Payments account, any Shopify Capital remittances or repayments that you need to pay are also withdrawn from Shopify Balance. If you have financing through Shopify Capital, then ensure that there are funds in your account to pay for remittances or repayments by either transferring funds to Shopify Balance or changing your payout account.