Shopify Payments for Finland

Merchants based in Finland can use Shopify Payments to accept credit cards and other popular payment methods.

Requirements for Shopify Payments

To use Shopify Payments, ensure that you can meet the following requirements.

Prohibited businesses

Some types of businesses and services are not permitted to use Shopify Payments. To check if your business can use Shopify Payments, review the list of prohibited business types on theShopify Payments Terms of Service for Finland.

Bank account requirements for Shopify Payments

Make sure that your bank account meets the following requirements before you connect it to Shopify Payments:

• The bank account is in EUR currency and with a bank in Finland.
• The bank account is eligible for SEPA transfers.
• The bank account has an IBAN that starts with the following letters: AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, IE, IT, LU, NL, NO, PT, or SE.

Checking accounts that are set up to accept only wire transfers don't work with Shopify Payments. Savings accounts, flex-currency accounts, virtual accounts, and money-transferring services that mimic bank accounts aren't supported by Shopify Payments.

To confirm that your account can accept the transfer type listed for your region, contact your bank.

Personal information requirements for Shopify Payments

In response to regulations in different countries, you're required to provide information about you and your business. The information is collected to help identify merchants using Shopify Payments, including the beneficial owners of a particular corporate entity. The purpose of collecting this information is to comply with regulatory requirements designed to prevent money laundering, terrorist financing, and other financial crimes.

As local rules and regulations evolve, Shopify and its partners might reach out to collect additional information about you and your business. These standard reviews can occur at anytime during the lifespan of your Shopify account.

The information that Shopify is required to collect differs from country to country, but typically includes documentation about the following:

• the individual creating the Shopify Payments account
• the business associated with the Shopify Payments account.
• the individuals who ultimately own or control the business, which includes the business owner or a senior executive with legal signing authority for the business

Acceptable document types for individuals and businesses in Finland include the following.

Identity documents:

• Passport
• Driver's license - scans of front and back are required
• Identity card - scans of front and back are required
• Residence card - scans of front and back are required

Address documents:

• Utility bill - dated within 6 months
• Bank statement - dated within 6 months
• Mortgage statement - dated within 6 months

Company/entity documents:

• Financial statements
• 文章的ssociation
• Trade registration
• Commercial register extract
• VAT registration

Accepting payments

In most countries, when your business is a sole proprietorship you're automatically set up to accept all major payment methods as soon as you create your Shopify store with Shopify Payments activated. Your card rate is based on your store's Shopify subscription plan, and you can change plans whenever you want.

Businesses in Finland can accept Visa, Mastercard, and American Express debit and credit cards, as well as payments usingBancontactandiDEAL.

The following accelerated checkout methods can be used with Shopify Payments in Finland:

• Apple Pay
• Google Pay

Pay periods

Yourpay periodrefers to the amount of time between the date that a customer's payment is captured and the date that those funds are sent to your bank account. The date and time that a customer's payment is captured is recorded in UTC time. Funds from payments that are captured on Friday, Saturday, and Sunday are grouped and sent together as one payment.

In Finland, the pay period is 3 business days.

Learn more aboutgetting paid with Shopify Payments.

Tax reporting

As a merchant, you are required to abide by all applicable regulations, including tax reporting. Depending on your jurisdiction, Shopify Payments might also be required to report your sales to the local tax authorities.

Shopify Payments fees don't include Value-Added Tax (VAT) for stores in Europe with the exception of Ireland. You may need to account for VAT at the local applicable tax rate on your VAT return. To get this information, you can either download a generated invoice, or export a file with your transaction information.

For stores in Ireland, 23% VAT is charged in addition to the Shopify Payments fees.

Download a generated invoice

You can download monthly invoices to submit with your tax claim. Each invoice includes the total VAT paid on transaction fees for all orders made in your store that month. This feature uses the UTC time zone, which might be different from your store's time zone. If you want a report that uses your store's time zone, then you can export a list of your store's transactions as a CSV file.

The invoice for each month is generated on the 5th of the following month. For example, the invoice for June is generated on July 5th. If you had no transactions with Shopify Payments for a certain month, then no invoice is generated for that month.

Steps:

1. 从你的Shopify admin, go toSettings>Payments.
2. In theShopify Paymentssection, clickView payouts.
3. ClickDocuments.
4. On theTax documentsdialog box, clickDownload PDFnext to the invoice that you want to download.

You can now submit this invoice with your tax claims.

Export transactions

You can export a list of your store's transactions as a CSV file. The CSV file includes a VAT column for European merchants.

Steps:

To export your transactions:

1. 从你的Shopify admin, go toSettings>Payments.
2. In theShopify Paymentssection, clickView payouts.
3. ClickTransactions.
4. ClickExport. ACSV filedownloads in your browser.
5. Open the CSV file in a spreadsheet editor.
6. The last column of the CSV file displays the amount of VAT collected on each transaction.
7. Use theSUMtool to calculate the total amount of VAT that you've collected.