Finding the best business bank account for Shopify can positively impact your e-commerce success. As online retail continues to grow, choosing the right banking partner has become important for managing cash flow, processing payments and scaling your business. 

Whether you’re just launching your first Shopify store or looking to upgrade your banking solution, the right account can boost your operations and provide valuable tools for growth. We’ve researched and compared some of the top banking options to help you make an informed decision.

Features to Look for in a Bank Account for Shopify

A good business account should simplify your financial processes, separate personal and business expenses, and cater to the unique needs of an e-commerce business. Below are the key features to look for when selecting a bank account for your Shopify store.

Integration for Seamless Payments

Look for a bank account that integrates directly with Shopify to simplify payment processing. This integration allows you to connect your bank details effortlessly, ensuring smooth payouts from Shopify transactions. Accounts that extend this integration to accounting software can further streamline operations by automatically tracking income, expenses and taxes without manual data entry.

Multi-Currency Support for Global Sellers

If your store serves international customers, multi-currency support is a must. This feature allows you to accept payments in various currencies while minimizing conversion fees. By reducing these costs, you can maximize your revenue and better serve a global audience.

Payment Processing and Refund Solutions

A bank account with built-in payment processing solutions can save you time by simplifying credit card transactions and handling refunds efficiently. These tools ensure that your customers have a seamless checkout experience while making it easier for you to manage cash flow.

Advanced Financial Tools for Business Insights

Consider accounts that offer additional features like cash flow management, expense categorization and financial reporting. These tools provide valuable insights into your business’s financial health, helping you make informed decisions and plan for growth.

The Top Business Bank Accounts for Shopify

There are dozens of business accounts suitable for Shopify—here are our top picks. These accounts offer seamless Shopify integration, expense tracking, international payment support and other features tailored to e-commerce businesses.

1. North One

When it comes to choosing the best bank account for Shopify, North One is the top option. North One offers a set of features specifically tailored for e-commerce businesses, making it a great choice for Shopify merchants. 

One of these tools is its Revenue Dashboard, which provides an easy-to-use overview of your business’s financial health. This tool allows you to track incoming payments, monitor expenses and get a real-time snapshot of your revenue, making it easier to manage your cash flow and make informed decisions. 

Furthermore, North One’s integration with Shopify ensures that your payments and transactions are processed efficiently. With no hidden fees and a straightforward structure, North One offers simplicity and transparency—key elements for Shopify sellers looking to keep their finances organized.

2. PayPal

PayPal is a popular choice for Shopify merchants due to its ease of use and wide recognition. As one of Shopify’s default payment providers, PayPal automatically integrates with your store, making it a convenient option for accepting payments. Its Seller Protection program provides coverage for online transactions, protecting against fraud and chargebacks. Plus, PayPal offers access to financial services such as working capital loans and business credit cards, which can help you grow and scale your business.

3. Relay

Relay is another great option for Shopify sellers, particularly those looking for fee-free banking. With Relay, you can open up to 20 checking accounts, helping you organize your cash flow and allocate funds for different business purposes. 

Relay also integrates with Shopify. The platform offers useful features like secure collaboration, which allows employees or accountants to access financial data with role-based permissions. Finally, Relay provides flexible payment options, including ACH and wire transfers, and supports international transactions.

4. Chase Bank

For merchants seeking a well-established bank with a range of business banking services, Chase is a reliable option. Chase’s business accounts come with various features such as expense tracking, custom reporting and access to a wide range of financial tools. 

With its vast network of branches and ATMs, Chase is an ideal choice for businesses that may need in-person support or access to physical banking services. Chase’s integration with popular accounting software like QuickBooks also makes it easier for Shopify sellers to manage their finances.

5. Bank of America

Bank of America offers business banking services designed to support small businesses. With its online banking platform, you can easily track and manage payments, deposits and expenses. Bank of America’s business accounts come with tools to help you manage cash flow, automate bill payments and create financial reports. Plus, it provides options for merchant services, including credit card processing and fraud protection, which can be helpful for Shopify sellers looking to expand their payment capabilities. 

While Bank of America may come with higher fees compared to some online banks, its service offerings make it a strong choice for those who need more than just a simple checking account.

Build Your E-Commerce Business on the Back of Strong Financials

Selecting the best business bank account for Shopify goes beyond basic banking features—it’s about finding a financial partner that understands and supports the needs of e-commerce businesses. While North One stands out for its features and user-friendly dashboard, each option we’ve reviewed offers distinct advantages for different types of sellers. Research each bank thoroughly—including its fees and features—to find the right support for your company.

FAQs About Shopify Banking Solutions

Which bank is the best for Shopify? 

The best bank for Shopify ultimately depends on your specific business needs, but North One is a top choice for many merchants. Its integration with Shopify, along with useful features like the Revenue Dashboard, provides an easy way to manage your cash flow and track revenue. 

Other great options include PayPal, which offers a straightforward setup and protection for sellers, and Relay, which provides fee-free banking and tools for managing multiple accounts. Ultimately, it’s important to choose a bank that offers integration with your Shopify store and provides tools to simplify financial management.

Do I need a business bank account for Shopify payments? 

While it’s not strictly required to have a business bank account to process Shopify payments, it is highly recommended. Having a separate business account makes it easier to manage your finances by keeping personal and business transactions distinct. It also streamlines tax filing and simplifies financial tracking. Plus, many business accounts offer valuable tools, like expense tracking and financial reporting, which can help you make informed decisions and better manage your Shopify store’s income and expenses.

Should I have a business account for Shopify? 

Yes, having a business account for Shopify is beneficial for several reasons. A dedicated account keeps your financial transactions organized and separate from personal funds. This separation simplifies accounting and makes tax preparation much easier. Many business accounts also include features tailored for e-commerce businesses. These features may include Shopify integration, expense tracking, and international payment options.