Can I Connect Wise to Shopify? Easy Integration Guide

If you use Shopify to host your business’s eCommerce store, you might be wondering how easy it is to withdraw funds into your Wise Business account, and if this is even possible.

With Shopify and Wise, you can manage incoming transactions and outgoing transactions and handle your business’s finances seamlessly.

In this blog post, you’ll discover whether you can connect Wise to Shopify, and the benefits of using both together.

Receive eCommerce payments
with Wise Business

Can I Connect Wise to Shopify?

In short: yes, you can connect your Wise account to Shopify.

You will need to have the full Wise Business account with account details. If you have the free Wise Business account for sending payments, then you can simply pay a one-off fee to unlock account details. This will allow you to get paid in GBP, EUR, AUD, CAD, USD and more. These account details can be used for Shopify and other platforms, customers, and suppliers around the world.

To receive USD with your Wise account details, you can use the details listed for US payments.

By connecting Wise to Shopify, you can create a cohesive system for receiving and managing transactions from customers. What’s more, you’ll never have to pay any monthly fees or worry about minimum balance requirements.

Step-by-Step Guide to Connecting Wise to Shopify

Open a Wise Business Currency Account

To connect Wise with Shopify, the first thing you’ll need to do is open a Wise Business currency balance.

Here’s how you can do that:

1. Navigate to Wise in your web browser or open the Wise app, and login to your account
2. Click the ‘+Open’ button and select ‘Currency Balance’
3. Choose the currency you’d like to receive money with
4. Now you’ll need to wait to complete an additional verification step which involves uploading documents for your security. You’ll be prompted in the app if this is the case
5. Once you’ve been verified, you can access your local details within the Wise app. Select the currency you need, click on ‘Receive’, and select ‘View and share account details’

Now, with this currency account you can get paid through Shopify either automatically or manually.

There are various documents you’ll need on hand to prove your identity during verification, which usually include the following:

• Proof of identity eg passport or driving licence
• Proof of address eg bank statement or a utility bill in your name
• Business documentation which may vary according to your type of business
• Names, date of birth, and country of residence information for any shareholders or directors who own 25% or more of the business

Add your Wise Business Account Details to Shopify

Now that you have your Wise Business account set up, you have local account details you can use to get paid through Shopify. While the process of connecting Wise with Shopify might vary based on your location and which payment gateway you use with Shopify, here’s what you need to do now:

1. Log into your Shopify account and find ‘Settings’
2. Select ‘Payment Options’
3. Enter your Wise account details for the currency you wish to receive payment in
4. Check that your details are correct and confirm

Benefits of Using Wise for Shopify Payments

Every time Shopify pays out your funds, you can receive them directly into your Wise Business account. That way, you don’t have to worry about intermediaries or transaction fees.

While Shopify doesn’t have payout fees, it does have other fees associated with transactions - especially if you sell to overseas customers.

One of the most important reasons to connect Wise and Shopify if you have them is to get the best deals when customers pay you in different currencies. You’ll have lower international transaction fees when you use your Wise account details with Shopify.

When a customer pays in a currency different from your payout currency, Shopify applies a currency exchange rate and a conversion fee at the time of payment capture.

Receiving payouts by PayPal, bank account, or a USD wire transfer, then converting to another currency once the payout has arrived will incur exchange rate and currency conversion fees.

Wise integration with Shopify allows you to receive money in your local account details without conversion fees.

When you get paid by a customer in Spain, you can receive the money into your Wise EUR account. When a customer from the US makes a purchase, you can receive the funds into your USD account. You can also exchange currencies within your Wise Business account at the mid-market rate if needed. Easy.

The Stress-Free Way to Receive International Payments

A Wise Business account is your ticket to minimal international transaction fees and receiving funds from global clients as if you were a local.

It’s an easy way to get paid from Shopify without getting surprised by unexpected fees eating into the money you actually receive. You can simply open a Wise Business account online and connect Wise to Shopify.

Open a Wise Business account online

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies. You can get major currency account details for a one-off fee to receive overseas payments like a local. You can also send money to countries.

Set up a Wise Business account today to enjoy:

• No monthly fees
• International payments at the mid-market rate
• Easy batch payments
• Simple QuickBooks and other accounting integrations
• Multiple currency management in one place