Getting Paid to Your Bank
How your money reaches your bank depends on which payment provider you've connected. Here's how it works for each.
If You Use PayPal
PayPal lands your sale amount in your PayPal balance. From there, you transfer to your bank on your own schedule.
Adding Your Bank to PayPal
Log into paypal.com (or click Open PayPal Dashboard from your ShopBroker Payments Settings)
Go to Wallet in PayPal
Tap Link a bank account
Enter your bank details (transit number, institution number, account number)
PayPal verifies the account, sometimes through small test deposits
Withdrawing to Your Bank
PayPal doesn't auto-payout to your bank. You initiate transfers manually:
From your PayPal account, tap Transfer or Withdraw
Choose your linked bank account
Enter the amount
Confirm
Most transfers complete within 1-3 business days. PayPal also offers instant transfers for a small fee on eligible accounts.
Tips for PayPal
Link a bank account before your first sale so funds can move quickly
Verify the account through PayPal's test deposit flow
Consider PayPal's transfer fee structure when planning withdrawals
If You Use Stripe
Stripe automatically pays out to your bank on a schedule you set. No manual transfers needed.
During Stripe Onboarding
When you set up Stripe Connect, you're prompted to add:
Your legal name (must match bank account)
Bank institution
Account number and transit/institution numbers
Payout schedule preference (daily, weekly, or monthly)
Adding Bank Info Later
Complete Stripe's verification steps
Enter your banking details
Stripe may send a small verification deposit
Confirm the amount to verify
Changing Bank Accounts
To update your bank account later:
Go to Payments > Settings (click your profile picture, then Payments, then the Settings tab)
Click Manage in Stripe to open Stripe Express
Look for Payout settings or Bank account
Add new account details
Remove old account if needed
What You'll Need (Either Provider)
For Any Bank Connection
Bank account number
Transit number (5 digits)
Institution number (3 digits)
Account holder name (must match your provider profile)
Finding Your Numbers
Look on:
A void cheque
Your online banking "account details"
Your bank's mobile app
If unsure, contact your bank.
Verification Deposits
Some verifications send two small deposits to your account (usually under $1). You'll need to:
Wait 1-2 business days
Check your bank statement
Enter the exact amounts to confirm
This proves you own the account.
Common Issues
Name Mismatch
Your provider profile name must exactly match your bank account name. If they differ:
Use your legal name on both
Business accounts need business names
Contact support if you need help
Verification Taking Long
Small deposits can take up to 3 business days. If longer:
Check your spam folder for emails
Verify account details are correct
Contact PayPal or Stripe support depending on which provider
Can't Find Routing Info
For Canadian banks:
Transit: Branch number (5 digits)
Institution: Bank code (3 digits)
Account: Your account number
Format varies by bank. Check your online banking or call the bank.
Payout Schedule Options (Stripe Only)
Choose when funds transfer automatically:
Daily: Every business day you have a balance
Weekly: Once per week on your chosen day
Monthly: Once per month
You can change your schedule in the Stripe Express dashboard anytime, accessible from Payments > Settings > Manage in Stripe.
PayPal doesn't have a fixed payout schedule; you transfer on your own timeline.
Business vs Personal Accounts
Personal
Fine for casual selling. Use your personal name and bank account.
Business
If you sell frequently, you might want to:
Register as a sole proprietor or corporation
Use a business bank account
Use a Business account on PayPal (or business details on Stripe)
Talk to an accountant about tax implications
Security Tips
Never share bank details except through official PayPal or Stripe flows
Use strong passwords on your accounts
Enable two-factor authentication
Review payouts regularly
Questions?
Having trouble connecting your bank? Our support team can guide you through the process. Email [email protected].