how do i find my shopify transaction fees

Does Shopify Charge You For Every Transaction?does shopify charge you fees on all your,sales and tra

Kerry Egeler

Updated on Jan 23,2023

Does Shopify Charge You For Every Transaction?

does shopify charge you fees on all your,sales and transactions let's find out,what's up everybody and welcome back to,the channel and if you're brand new here,want to say hey my name is carrie i'm,the founder of shirt school and on this,channel we bring you the best strategy,secrets and hacks to grow your online,t-shirt apparel e-commerce business if,you're just starting out with shopify or,you're thinking about starting up a,shopify store you might be doing your,research and you see that there are,additional fees on transactions when you,use shopify now i've heard from a lot of,people when they're comparing different,platforms or they're just trying to,figure out where to start their store,that they are under the misconception,that shopify is charging them some kind,of additional transaction fees or maybe,credit card fees on all their sales,today i want to break down how this,works and what the fees are and,hopefully in some confusion for you when,we look at the shopify website you see,that there are three main plans for,using shopify the first one is a basic,plan 29 a month and then you have 79 and,299 now most people are on this 29 a,month plan it's the one that i always,recommend and if we scroll down we see,right here that when it comes to shopify,payments that we go to online credit,card rates and there is a 2.9,fee plus 30 cents per transaction and,then if you're selling in person it goes,down to 2.7,plus no you know zero cents per,transaction,let me explain how this works when,you're starting up an e-commerce,business first you're going to need a,platform like shopify and there are many,other alternatives on the market you,might have heard of woocommerce or,bigcommerce where you could start up,something on wix or godaddy there are a,lot of different e-commerce platforms in,addition to your e-commerce platform,you're going to need a payment processor,this is the company that's going to take,all the credit cards for you and they're,going to process those credit card,payments and then pay you out whatever,you're due now with those payment,processors there is always a fee,associated with that and so the payment,processor has to pay visa and mastercard,and american express and all these you,know credit card companies to,accept their credit cards so there is a,fee associated with that and how those,payment processors make their money is,they charge a fee to the merchant which,would be you the business owner and they,just take a cut of that so if we pay 2.9,percent the payment processor might pay,you know visa one percent and they keep,the difference so with pretty much any,online business you need your main,platform like a shopify and you need a,credit card processor to be able to take,payments hey if you're enjoying this,video and learning something would you,do me a quick favor just hit that like,button it really really helps us out and,it's completely free to you to do also,consider subscribing to the channel we,put out new videos all the time we'd,love for you to become a part of the,family now what shopify has done here is,they have brought the credit card,processing into their platform built in,and that's what shopify payments is,shopify payments allows you to take all,the credit cards built into shopify,without having a third-party credit card,processor it actually makes it a lot,easier and a lot less techie and it's,one less thing you have to worry about,as a business owner so just to be clear,if you were using another platform other,than shopify most of those platforms,will require you to hook up with a,third-party credit card processor and,the most commonly used company is called,stripe stripe is not an e-commerce,platform like shopify or woocommerce or,bigcommerce they are strictly a credit,card processor and they make almost all,their money from processing credit cards,for merchants and for businesses like us,so as you can see on the stripe website,here the fees that stripe charges are,2.9,plus 30 cents,that sounds awfully familiar well that's,exactly the same as what shopify charges,shopify just has the ability built in so,just to be clear shopify is not charging,you any additional fees on your,transactions or any additional credit,card fees that you would not be paying,anywhere else there is no platform you,will find that will be 29 a month and,will charge you zero percent on your,credit card fees that doesn't exist out,there you would have to have another,payment processor like stripe and,they're going to charge you the exact,same amount as shopify so shopify has,just simplified credit card processing,by bringing those fees in-house and,again making it just a lot easier for,you to set up and use if you're just,starting out with shopify or you're,looking to set up your first shopify,account have something really cool i,want to give you we have teamed up with,shopify and they've given us this custom,offer specifically for our audience when,you go to shirtschool.com,shopify you can set up a 14-day free,trial to use the shopify platform and,then after you sign up you'll get in,your email a 13-step shopify store build,cheat sheet from us at shirt school so,by using that link below to set up your,shopify account you get the cheat sheet,plus the 14 day free trial and you can,get your shopify store set up and get,some additional help from us so if,you're considering starting with shopify,just go over to shirtschool.com shopify,set that up and get that free cheat,you

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Shopify Fees 2020 | How Much Does it Cost to Sell on Shopify?

Shopify Fees 2020 | How Much Does it Cost to Sell on Shopify?

is it actually cheaper to sell on,Shopify than Etsy let's find out hey,guys welcome back to confessions of a,girlboss my name is Kristy and I help,women turn their passion into their,business today we are gonna find out if,it's actually cheaper to sell on Shopify,versus Etsy I have a few videos talking,about Etsy fees how it's broken down my,biggest Etsy bill ever so I will leave,them linked up in the right-hand corner,I believe it's up here yeah I believe,it's up here for you to check out in,case you have missed them but today,we're going to go through Shopify fees,and kind of break down the different,pricing structures that they offer and,we're really gonna find out if it is,cheaper to sell on Shopify vs. Etsy if,you haven't already and you do like,these types of videos and be sure to hit,that red button down below and subscribe,to my channel I post new videos every,Monday Wednesday and Friday all about,turning your passion into your business,if you are still on the fence about,opening a Shopify store be sure to sign,up for my free five-day crash course in,migrating from Etsy to Shopify it'll,walk you through absolutely everything,you need to know to get your Shopify,website up and running all of my hints,and tricks that I used when I opened my,Shopify store and it's really chock-full,of so much information that it's totally,free so click that link in the,description box down below to get access,to that crash course so Shopify's fee,structure is very different to Etsy's,first of all there are no listing fees,and I was so happy when I figured this,out because I was paying so much to Etsy,in listing fees every month and it was,just a huge chunk that was taken off of,my bill in my finances it was awesome,but basically what Shopify does is they,charge different transaction fee rates,based on what plan you have so I'm gonna,come over to my computer now and walk,through the different plans that Shopify,offers kind of the different perks of,having each plan and then we're gonna,come on back and talk about an example,of how much money I've saved if I was,using Shopify 100% the biggest year of,my business okay so we are currently on,the Shopify pricing page,so as of right now they are actually,extending their free trial to 90 days so,if you are on the fence now is the,perfect time to try Shopify out 90 days,it's like amazing,so basically Shopify has three fee,structures and these are all monthly,prices so you have basic which is 29,regular 79 and advanced $2.99 so for,this first section you basically get all,of these same features with each tier,there's just a few discrepancies like in,the staff accounts you get some more,with the more expensive plan and with,the locations for the Shopify,point-of-sale you also get more,locations with the more expensive plan,but each each plan features an online,store unlimited products and no listing,B's staff accounts 24/7 support a sales,channel locations manual order creation,discount codes free SSL certificate,abandoned cart recovery and gift cards,so abandoned cart recovery is one of my,favorite features and I don't believe,this was available in the basic plan,when I had my store but basically what,you can do is if somebody adds stuff to,their cart and they go to check out but,they abandon the checkout process you,can send them an email a certain amount,of time later saying oh hey did you,forget this was here and hopefully bring,some more people back to your store to,finish that purchase so the biggest,difference in this section is the,reports so you do get some more detailed,reporting with the to more advanced,plans and you get the advanced report,builder with the most expensive $2.99,plan and then the $2.99 plan is the only,plan that has the third party calculated,shipping rates okay so as for shipping,again basically all the same you do get,a bit of a bigger discount when you go,up to that 299 plan I didn't really use,Shopify for shipping I talked about this,on Monday's video but I used a different,app to do all of my shipping on so stay,tuned for Monday's video to take a look,at that but the app that I also use to,give you a discount on shipping too and,then the two advanced plans are the only,ones that have the Priority Mail Kubik,pricing,okay so payment and fee structure is,probably the biggest thing you're here,for,so basically all plans will get the,fraud analysis which is awesome Shopify,will basically tell you if you should be,on the alert for a fraudulent order or,if it is safe to ship it so basically a,Shopify has a Shopify payments platform,so it's a built in platform within,Shopify it's very similar to Etsy,payments it's kind of how they capture,orders and how they process orders so if,you sign up for that which I do suggest,you do sign up for it if it is available,in your country because it is really,easy to use and it is a lot cheaper to,use that with Shopify so if you sign up,for that you don't have any additional,processing fees for your orders which is,huge you literally only have the credit,card rates that you see here so the,online credit card rates are again,pretty comparable 2.9 percent plus 30,cents and then that goes down to 2.4,percent plus 30 cents I believe the 2.9,percent plus 30 cents is also what you,would pay on PayPal it is really,comparable to all e-commerce platforms,and then you do have the in-person,credit card rates that go from 2.7,percent down to 2.4 percent and then,this is the fee that you will pay if you,decide not to use Shopify payments so,this is the fee you will pay plus the,additional fees from that third-party,vendor if you decide to not use Shopify,payments and then last but not least is,the point-of-sale so all plans are,compatible with the point-of-sale and,they are all 89 dollars a month if you,want to do the point-of-sale Pro or you,can try it out until the end of October,2020 so that is everything they also,have a Shopify Lite plan for nine,dollars which means you could just sell,on Facebook so if you're into that maybe,give that a try and then they also have,Shopify plus but that is basically,everything if you are on the fence like,I said I would definitely take advantage,of this because that is huge ok so,hopefully that breakdown made sense to,you I will leave a link in the,description box down below to that page,I just showed you in case you want to,dive into it a little bit deeper but I,feel like it is pretty straightforward,so now let's go back and do a comparison,so if you watched my biggest Etsy bill,ever video which I will leave a link up,here or up here I honestly I have no,idea I have no idea which site I should,really get that down but if you watch,that video you will know that when I,made 108 thousand dollars,I paid Etsy eleven thousand one hundred,twenty dollars in fees which is nuts so,for fun I had to go back and I have to,see how much money I would have saved if,I had that same here with my Shopify,site one hundred percent so since a,Shopify doesn't charge card processing,fees and they also don't charge listing,fees that is a huge chunk that is taken,off of my bill already because those,were three thousand one hundred,ninety-eight dollars and four thousand,four hundred dollars respectively so,that's a lot so I went through on I just,did the calculations manually so for,that year I had a four thousand two,hundred and twenty seven orders so for,those orders I did the thirty cents,which is part of the transaction fees,for Shopify and I did calculate this on,the basic plan and I am looking down,because I have my computer here with the,numbers I calculated this on the basic,plan so the two point nine percent so,just wait so for the transaction fees I,would have paid a four thousand four,hundred and seventeen dollars in,transaction fees for my one hundred and,eight thousand dollar-a-year,now I didn't want to just forget about,the monthly fee so I did just do the,twenty nine dollars a month,this is give or take because as you will,see in Monday's video there are apps you,can use for Shopify and they do add up,so it's very possible that I could have,paid more but in my eyes I'm just using,the basic plan and not using any,additional features or apps or anything,like that because you don't get those,apps with Etsy anyway so for the monthly,fees the twenty nine dollars three,hundred and forty eight dollars for the,year so the total fees for Shopify are,you ready,where four thousand seven hundred and,sixty-five,dollars compared to on Etsy eleven,thousand one hundred and twenty dollars,that is a savings of over seven thousand,almost seven thousand dollars which is,nuts over seven thousand wait I can't do,math hold on six thousand three hundred,and fifty five dollars in savings that,is in sanity so I want to preface this,by saying as I said in that video during,that year I was doing 99 percent of my,like advertising and my like bringing,people into my shop I wasn't using at,the SEO because I didn't have it set up,I didn't understand it so I was doing,all of this work to bring everybody to,my shop and I was paying Etsy like they,were doing the work so I had just been,navigating people towards my website I,could have saved so much money so I,wanted to kind of point this out to you,guys in black and white especially if,you are like me and you haven't set up,your Etsy SEO correctly or you're not,offering free shipping so you're not,getting those added perks of being the,top placement which is ridiculous,but yeah so I would have saved six,thousand three hundred dollars so I just,wanted to point this out hopefully that,Shopify fee breakdown made sense to you,if you have any more questions leave it,in a comment down below and I will be,sure to answer them for you,but yeah yikes okay I'm gonna leave this,video here for today if you haven't,already be sure to subscribe to my,channel you can either click the red,button down below or my face right here,and if you want to keep on learning be,sure to hit any of those two videos over,there as well so I will see you in my,next video,have a good day stay safe and thank you,for watching bye

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