This is how to sell in USD on Shopify if you’re Canadian
This is for any Canadian Shopify store owners who want to sell in USD. It makes a lot of sense to sell in USD because a lot of suppliers only sell in USD, USD are more valuable (usually), and you have to pay for Shopify in USD anyway… even tho it’s a Canadian company… which makes no sense.
For some businesses, selling in USD actually means you will have to exchange currency much less often. But it is pretty tough to set up a Shopify store in USD if you’re just starting out. So here’s what to do:
Get a USD account from RBC.
It’s basically that simple. As far as I know, this is the only way for Canadians to receive USD before they’re ready to set up a business account.
Why?
Shopify can’t deposit USD to a CAD account (because they would have to exchange currency first.) So even if you have a USD account with your day-to-day bank, there’s no way to deposit directly to that account.
RBC US Personal Banking (costs $2 per month and) is actually tied to a US bank and has a US routing number — so you’re literally depositing to a US bank, not just a US account at a Canadian bank.
I don’t work for RBC. I don’t even really like RBC. If there was another way, I’d tell you. But as far as I know, this is the only way you can avoid just going to the US and opening an account there (BTW, is that even possible for non-citizens?)
Here’s how:
- Get an appointment at RBC and tell them you want a US account.
- When you have your routing number (they’ll give it to you when you set up the account) go to settings in Shopify.
- Then click on Payments.
- Update your Shopify Payments settings with that shiny new routing number.
- You’re done.
So that’s it. If you found this helpful, please follow me on Medium.
Do you have another workaround for this? Let me know in the comments?
Tried it and didn’t work? Comment below and I’ll try and help you out.