Payouts and settlement times with Shopify Payments in Hungary

With Shopify Payments in Hungary, you can receive domestic currency payouts in Euro (EUR) or Forint (HUF) 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.

Settlement times for Shopify Payments in Hungary

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 Hungary, the minimum settlement time is 3 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 Hungary is €1 EUR or 360 HUF, depending on your payout currency. 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 Shopify Payments in Hungary

Shopify Payments fees are location-dependent and can vary. To get the most accurate and detailed information about fees, refer to your region's pricing plan page.

The plans and pricing page is accessible only in the language and currency specific to that country. If you need to translate the plans and pricing page, then you can use a browser extension, such as the Google Chrome extension.

View payment rates in your Shopify admin

If you've set up Shopify Payments in Hungary, then you can access information about the specific rates and fees applicable to your store location and chosen plan. For more details about applicable fees, you can access the Shopify Payments Terms of Service from your Shopify admin.

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 Hungary

The currency that you receive payouts in can be different from the currency that your customers pay in. Whether you can receive payouts in more than one currency depends on your Shopify plan.

Receiving payouts without Multi-Currency Payouts

If your store isn't on the Advanced plan or the Shopify Plus plan, then you aren't eligible for Multi-Currency Payouts, and you can set only one payout currency. You can still sell in multiple currencies, but all payouts are converted to your single payout currency. If you receive an order in a currency that's different from your payout currency, then the funds are converted to your payout currency and you're charged a currency conversion fee. For example, if your payout currency is EUR and you receive an order in HUF, then the HUF is converted to EUR and a conversion fee applies.

Receiving payouts with Multi-Currency Payouts

If your store is on the Advanced plan or the Shopify Plus plan, then you can use Multi-Currency Payouts to receive payouts in more than one currency. You can choose any supported payout currency as your default payout currency, and add bank accounts to receive payouts in other currencies. Two types of fees can apply, depending on the payout currency and whether a currency conversion occurs.

A Multi-Currency Payout fee applies whenever you receive a payout in a non-domestic currency, even if no currency conversion occurs. The fee amount depends on your location and Shopify plan. You aren't charged a Multi-Currency Payout fee when you receive payouts in your EUR or HUF domestic currency.

A currency conversion fee applies when an order is converted to a different payout currency. This happens when you receive an order in a currency that you don't have a bank account for, so the funds are paid out to your default currency bank account. You aren't charged a currency conversion fee when you have a matching bank account for the order's currency.

Supported payout currencies with Shopify Payments in Hungary

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

If you want to receive payouts in multiple currencies, then you must adhere to 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: