How to Link Your Payset IBAN to Shopify to Receive Payouts

If you operate an e-commerce business using Shopify, you can receive your store payouts directly to your Payset account using your IBAN — no need for a separate payment processor in most cases.

This guide explains how to link your Payset IBAN to Shopify Payments, what requirements apply, and when Stripe might (or might not) be used instead.

Requirements for Linking a Payset IBAN to Shopify

Before connecting your Payset account, please make sure your IBAN meets Shopify’s eligibility criteria:

• The IBAN must be SEPA-compatible.
• The IBAN prefix must start with one of the following supported country codes:
  GB, DK, MT, or SG (all available with Payset accounts).
• The currency of your Shopify payouts must match your Payset IBAN’s currency (for example, GBP payouts must go to a GBP IBAN).
• The account holder's name entered in Shopify must match the name registered in your Payset account.

If you are unsure whether your Payset account meets these criteria, please contact support@payset.io before connecting it to Shopify.

Step-by-Step: How to Add Your Payset IBAN to Shopify

1. Log in to your Shopify Admin.
2. Go to Settings → Payments.
3. Under Shopify Payments, click Manage.
4. Scroll to Payout accounts and click Add bank account.
5. In Payout currency, select the same currency as your Payset IBAN.
6. In Bank account country, choose the country corresponding to your IBAN prefix (e.g., United Kingdom for GB, Denmark for DK, Malta for MT, Singapore for SG).
7. Under Account owner, enter the account holder name exactly as shown in your Payset account.
8. Enter your IBAN and BIC/SWIFT, as displayed in your Payset dashboard.
9. Click Next, then confirm to add the account.
10. Once added, click the three dots ... next to the account and select Set default, if you want all payouts to go there automatically.

💡 Tip: Shopify usually sends payouts automatically on a daily or weekly basis, depending on your payout schedule.

Alternative Option: Linking Stripe Instead of a Direct IBAN

Shopify Payments is powered by Stripe. However, whether you can use Stripe directly depends on your store’s registered country.

Here’s how it works:

• If your store is based in a country where Shopify Payments is available (such as Romania), you cannot activate Stripe separately — Shopify uses Stripe behind the scenes as its payment processor.
• In these countries, Shopify Payments + Payset IBAN is the correct setup (and offers all the same benefits as using Stripe directly).
• Using Shopify Payments also helps you avoid additional third-party transaction fees and ensures smoother integration with Shopify’s features.

If, for specific reasons (e.g., your business type violates Shopify Payments’ Terms of Service), you believe you need to use Stripe directly, you can contact Shopify Support to request a review or special permission.