Modified on Thu, 25 Jun at 3:47 PM
Credit Deposits allow customers to prepay into a stored credit balance and spend it on future orders.
Set up a credit deposit product
- Go to Products > New Product.
- Click Credit Deposit.
- Add the name, description, and inventory.
- Set the price. This is the dollar amount that will be added as stored credit to the customer’s account.
- This product defaults to hide on main catalog. Toggle that off if you want it visible on your main catalog.
Note: Stored credit is applied automatically at checkout on the customer’s next order. Credit Deposits are purchased separately from a normal cart and existing stored credit cannot be used to buy a Credit Deposit. This keeps balances growing with real funds.
Using Credit Deposits for a subscription-style club
Credit Deposits can also be used to power a subscription-style club. This is just one way to set it up. Adapt it to whatever works best for your business. Here's a general framework to get started:
- Set up a Credit Deposit for a fixed amount (e.g., $50).
- Create a new club and link to this page so members understand how Credit Deposits work before joining. Learn how to set up a club.
- Decide on a charge schedule, for example, the 1st of every month, and communicate this to customers ahead of time.
- Create a release within the club and set the release date to match your charge date. Learn more about releases.
- Send the release email a few days before the release date so customers have time to update their payment info if needed. To allow members to skip a cycle, make the release customizable with a minimum quantity of 0.
- Run the release on the charge date. The Credit Deposit amount will be added to stored credit for every club member with a valid payment method on file.
- Repeat steps 4 through 6 for each charge cycle - monthly, quarterly, or whatever cadence you've communicated to customers. Each cycle requires creating a new release and running it manually. This is not an automatic charge.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article