Payouts and settlement times with Shopify Payments in Hong Kong SAR

With Shopify Payments in Hong Kong SAR you can receive payouts in Hong Kong Dollar (HKD) on all subscription plans. If your store is on the Advanced plan or the Shopify Plus plan, then you can receive payouts in multiple currencies. The currency that your customers use to pay for their orders can be different from the currency of your payouts from Shopify Payments. Learn more about selling and getting paid in different currencies.

This guide explains payout currencies, settlement times, processing fees, and how to view your transaction history with Shopify Payments in Hong Kong SAR.

Settlement times for Shopify Payments in Hong Kong SAR

Settlement time refers to the amount of time between the moment that a customer's payment is captured and when those funds are available to be sent to your bank account. The timestamp for capturing a customer's payment is recorded in Coordinated Universal Time (UTC). Payments captured on Friday, Saturday, and Sunday are consolidated and sent as a single payout.

In Hong Kong SAR, the minimum settlement time is 4 business days. When you begin receiving payouts, your settlement time is longer, but as you reliably fulfill orders on time, your settlement time can decrease to match the minimum settlement time for your region.

The minimum payout amount for Shopify Payments in Hong Kong SAR is $10 HKD. If a payout is less than this amount, then it stays in a pending state until more funds are available to pay out.

Learn more about getting paid with Shopify Payments.

Fees for using Shopify Payments in Hong Kong SAR

Shopify Payments fees are location-dependent and can vary. To get the most accurate and detailed information regarding fees, visit the plans and pricing page for Hong Kong SAR. This page provides a breakdown of the rates and fees associated with Shopify Payments based on your selected plan.

View payment rates in your Shopify admin

If you've set up Shopify Payments in Hong Kong SAR, then you can access information about the specific rates and fees applicable to your store location and chosen plan.

Steps:

1. From your Shopify admin, go to Settings > Payments.

2. In the Shopify Payments section, click Manage.

3. View the rates that apply to different payment methods.

Receiving payouts in multiple currencies with Shopify Payments in Hong Kong SAR

If your store is on the Advanced plan or Shopify Plus plan, then you can choose any supported payout currency as your default payout currency. Review the following considerations for Multi-Currency Payout fees and currency exchange fees:

• If your default payout currency is your HKD domestic currency, then you won't incur Multi-Currency Payout fees.
• If you set up additional bank accounts for payouts, then Multi-Currency Payout fees apply based on your location and Shopify plan.
• If orders are placed in a currency not set up on your Shopify Payments account to receive payouts, then they are paid out to your default currency bank account.
• If the account is in a non-domestic currency, then you incur a currency exchange fee.
• If orders are in your domestic currency and paid out to a bank in your domestic region, then you aren't charged extra fees, even if your domestic currency isn't your default payout currency.

If you choose a non-domestic currency as your default currency, then any payouts that you receive are charged a Multi-Currency Payout fee depending on your location and Shopify plan. For example, if you use Shopify Payments in Hong Kong SAR and you choose USD as your default currency, then you're charged a Multi-Currency Payout fee.

Supported payout currencies with Shopify Payments in Hong Kong SAR

You can receive payouts in the following currencies when using Multi-Currency Payouts with Shopify Payments in Hong Kong SAR:

If you want to receive payouts in multiple currencies, then you must meet certain currency, Shopify subscription plan, location, and bank account requirements. Learn more about Multi-Currency Payouts.

View your payouts

You can view your payouts in the Shopify admin and review any payout transfers that are pending, in transit, paid, or failed.

Steps:

Tax reporting

As a merchant, you're required to abide by all applicable regulations, including tax reporting. Depending on your jurisdiction, Shopify Payments might also be required to report your sales to the local tax authorities.