Access Your Sales Money Faster with Shopify Balance

Table of Contents:

1. Introduction
2. The Frustration of Accessing E-commerce Sales Money
3. Shopify's New Feature: Shopify Balance
4. What is Shopify Balance?
5. Benefits of Shopify Balance
   • 5.1 Earn Cashback when Spending on Marketing, Shipping, and Growing Your Business
   • 5.2 Cashback when Hiring Shopify Experts
   • 5.3 Exclusive Offers and Discounts
   • 5.4 Get Paid Faster
6. Traditional Process of Getting Sales Money
7. Shopify Balance vs. Traditional Banks
8. Setting up Shopify Balance
9. Conclusion
10. Need Help with Your Shopify Store?

The Frustration of Accessing E-commerce Sales Money

As a new e-commerce seller, one of the most frustrating aspects can be accessing your money after making sales. This frustration is particularly evident if you are using a print-on-demand service, where you need to pay for your orders promptly after making a sale. However, sometimes accessing that money can be a lengthy and complicated process. To address these issues, Shopify has recently introduced a new feature called Shopify Balance, which aims to provide a solution for sellers facing these challenges.

Shopify's New Feature: Shopify Balance

Hey, everyone! Welcome back to the channel. For those of you who are new here, my name is Carrie, the founder of Shirt School. Today, I want to discuss a new feature introduced by Shopify called Shopify Balance. If you're an e-commerce seller frustrated with delayed access to your sales money, Shopify Balance might just be the solution you've been looking for.

What is Shopify Balance?

Shopify Balance is a banking feature offered by Shopify that allows you to manage your money and business in one place. It aims to streamline the process of accessing your funds quickly and efficiently. By signing up for a free Shopify Balance account, you gain access to a range of benefits and features designed to make your e-commerce experience smoother.

Benefits of Shopify Balance

5.1 Earn Cashback when Spending on Marketing, Shipping, and Growing Your Business

One of the main benefits of Shopify Balance is the opportunity to earn cashback when you spend on marketing, shipping, and growing your business. As a Shopify seller, you can enjoy a two percent cashback when you use the Shopify Balance debit card for these essential expenses. This cashback feature provides a financial advantage for your business, allowing you to reinvest the saved money into further growth opportunities.

5.2 Cashback when Hiring Shopify Experts

In addition to cashback on business expenses, Shopify Balance offers an incentive for sellers who hire Shopify experts to help build or level up their stores. By using your Shopify Balance debit card for expert services, you can receive a 10% cashback. This not only aids in cost reduction for your business but also encourages you to seek professional support when needed, knowing that you'll receive a cashback as a bonus.

5.3 Exclusive Offers and Discounts

Shopify Balance provides exclusive offers and discounts for various partners, including Google and Facebook. These partnerships offer additional value to Shopify sellers as they can access exclusive discounts or deals that can be beneficial for their marketing and business growth strategies. By being a part of Shopify Balance, you unlock these opportunities to maximize your profits and resources.

5.4 Get Paid Faster

One of the standout features of Shopify Balance is the ability to access your sales money much faster compared to traditional banking methods. Instead of waiting for days or even weeks for your funds to reach your bank account after a sale, Shopify Balance allows you to access the money you make through your Shopify store the next business day. This gives you increased liquidity and the ability to reinvest your profits promptly.

Traditional Process of Getting Sales Money

To better understand the significance of Shopify Balance, let's quickly go over the traditional process of accessing your sales money. When a customer makes a purchase on your store, the money they pay goes into a holding account with Shopify. Although you can see the money in your Shopify account, it doesn't yet get paid out to you. After two business days, Shopify processes a deposit to your bank account. However, depending on your bank's processing times, it can take additional days for the money to reach your account.

Shopify Balance vs. Traditional Banks

Comparing Shopify Balance to traditional banks reveals notable differences in terms of speed, fees, and convenience. With Shopify Balance, you can get paid the next business day, which can be up to four times faster than traditional banks. Moreover, Shopify Balance eliminates fees, including monthly fees and transfer fees. You don't have to deal with extensive paperwork or complicated processes—it's all connected within your Shopify account. Additionally, Shopify Balance offers up to $2,000 cashback per year, providing significant savings and benefits for your business.

Setting up Shopify Balance

Setting up Shopify Balance is quick and straightforward. Inside your Shopify store, click on the "Finances" button on the left-hand side. Within the finances section, you'll find the "Balance" option, where you can open up a Shopify Balance account. Follow the on-screen instructions, and Shopify will send you a debit card that will grant you access to your funds in a much shorter timeframe.

Conclusion

In conclusion, Shopify Balance offers an excellent solution not only for accessing your sales money faster but also for benefiting from cashback rewards and exclusive offers. If you're someone who needs immediate access to capital or wants to take advantage of rewards to grow your business, Shopify Balance is worth exploring.

Need Help with Your Shopify Store?

If you need additional help setting up and optimizing your Shopify store, we have a free Shopify Store Build Cheat Sheet available for download on our website, ShirtSchool.com. This cheat sheet provides 13 essential steps to ensure you don't miss any crucial aspects when building and launching your store. It will serve as your guide, helping you stay organized and get selling faster. Head over to ShirtSchool.com and download the cheat sheet for free. We'll see you next week!

Highlights:

• Shopify Balance provides a solution for e-commerce sellers frustrated with delayed access to their sales money.
• The new feature allows sellers to manage their money and business in one place, streamlining the process of accessing funds.
• With Shopify Balance, sellers can earn cashback on marketing, shipping, and hiring Shopify experts.
• Exclusive offers and discounts are also available for partners like Google and Facebook.
• The standout benefit is the ability to get paid faster, with access to sales money the next business day.
• Shopify Balance eliminates fees, offers cashback rewards, and provides up to $2,000 cashback per year.
• Setting up Shopify Balance is quick and can be done directly within your Shopify store.
• Shopify Balance is an excellent option for those who need immediate access to capital and want to take advantage of rewards to grow their business.

FAQ:

Q: How long does it take to set up Shopify Balance? A: Setting up Shopify Balance is a quick and straightforward process that can be done within minutes in your Shopify store.

Q: Can I earn cashback with Shopify Balance? A: Yes, Shopify Balance offers the opportunity to earn cashback when spending on marketing, shipping, and hiring Shopify experts.

Q: Are there any fees associated with Shopify Balance? A: No, Shopify Balance eliminates fees, including monthly fees and transfer fees.

Q: Can I access my sales money faster with Shopify Balance? A: Yes, Shopify Balance allows you to access your sales money the next business day, which can be up to four times faster than traditional banking methods.

Q: Are there any additional benefits to using Shopify Balance? A: Absolutely! Shopify Balance provides exclusive offers and discounts for partners such as Google and Facebook, as well as up to $2,000 cashback per year.