Payouts and settlement times with Shopify Payments in Luxembourg
With Shopify Payments in Luxembourg, you can receive payouts in Euro (EUR) 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.
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Settlement times for Shopify Payments in Luxembourg
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 Luxembourg, 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 Luxembourg is €1 EUR. 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 Luxembourg
Shopify Payments fees are location-dependent and can vary. To get the most accurate and detailed information about fees, refer to the pricing page for Luxembourg.
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 Luxembourg, 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:
From your Shopify admin, go to Settings > Payments.
In the Shopify Payments section, click Manage.
View the rates that apply to different payment methods.
Receiving payouts in multiple currencies with Shopify Payments in Luxembourg
If your store is on the Advanced plan or the Shopify Plus plan, then you can set any supported payout currency as your default payout currency. If your default payout currency is your domestic currency of EUR in Luxembourg, 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. Orders that are placed in a currency that isn't set up to receive Shopify Payments payouts 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.
You aren't charged extra fees for orders in your domestic currency paid out to a bank in your domestic region, 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 subscription plan. For example, if you use Shopify Payments in Luxembourg and you choose USD as your default currency, then you're charged a Multi-Currency Payout fee.
Supported payout currencies with Shopify Payments in Luxembourg
You can receive payouts in the following currencies when using Multi-Currency Payouts with Shopify Payments in Luxembourg:
| Payout currency | Bank account location | Domestic currency | Multi-Currency Payout fee |
|---|---|---|---|
| EUR | 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 | Yes | No |
| AUD, CAD, CHF, CZK, DKK, GBP, HKD, HUF, JPY, NOK, NZD, RON, SEK, SGD, ZAR | 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 | No | Yes |
| USD | 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 | No | Yes |
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:
Desktop
From your Shopify admin, go to Settings > Payments.
In the Shopify Payments section, click View payouts.
Mobile
From the Shopify app, tap
, and then tap 
Settings.In the Store settings section, tap Payments.
In the Shopify Payments section, tap View payouts.
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.
Shopify Payments fees don't include Value-Added Tax (VAT) for stores in Europe with the exception of Ireland. You might need to account for VAT at the local applicable tax rate on your VAT return. To get this information, you can either download a generated invoice, or export a file with your transaction information.
For stores in Ireland, 23% VAT is charged in addition to the Shopify Payments fees.
Download a generated invoice
You can download monthly invoices to submit with your tax claim. Each invoice includes the total VAT paid on transaction fees for all orders made in your store that month. Generated invoices use the UTC time zone, which might be different from your store's time zone. If you want a report that uses your store's time zone, then you can export a list of your store's transactions as a CSV file.
The invoice for each month generates on the 5th of the following month. For example, the invoice for June generates on July 5th. If there aren't any transactions with Shopify Payments for a month, then no invoice generates for that month.
Steps:
From your Shopify admin, go to Finance > Payouts.
Click Documents.
In the Tax documents dialog, for the invoice that you want to download, click Download PDF.
Export transactions
You can export a list of your store's transactions as a CSV file. The CSV file includes a VAT column for European merchants.
Steps:
From your Shopify admin, go to Finance > Payouts.
Click Transactions.
Click Export. A CSV file downloads in your browser.
Open the CSV file in a spreadsheet editor. The last column of the CSV file displays the amount of VAT collected on each transaction.
Use the SUM tool to calculate the total amount of VAT that you've collected.