This just happened to me, they are holding on to money for 90 days. Ruining my business operations of course. In my opinion I'm sure there is grounds for lawsuits for this if someone would be willing to take the effort. They state that Stripe/Shopify Payments can put your account at risk at anytime, and that's fine. It's their business, HOWEVER; this should not include any money that is to be paid out; that means Shopify is affecting my business but if I can't afford to purchase my customer's products and ship it to them, that affects the customer's money and products. That is in my opinion ILLEGAL. This money is not Shopify's, it is either mine as a store or the customers. I was unable to refund this money to the customer EITHER. This is insane, they do this with thousands of stores and MILLIONS of $ that Shopify holds for 6 Months+ that means that can use and invest in their business, as I'm sure no one regulates this money to be held in a safe account and not be used. This means unless customers chargeback, this money is held/ "kidinapped" for 6 months by Shopify.
Lastly, Shopify says you can use other payment providers who would take this risk: HOWEVER, Shopify collects fees for Stores using any other payment providers as well. So these FRAUDSTERS collect your annual/monthly store fee, tell you to use other providers (who collect their own fees as well) and collect fees ON TOP OF THAT, and collect your domain fees. Do not use these guys, no money you make is worth allowing them to make money off of you and control your Store like they own it.
PLUS They have the AUDACITY to tell you to sell your store when you try and close it, so they can make some sort of fee on that.
I’m in the same boat now there’s no one to talk to at Shopify all scripted responses was marked and upgraded as urgent I have to spend hours on the live chat to here that my money is now on hold until Dec 10th 4 months away no reason no fraud just that’s what Shopify does meanwhile my buisness is crippled and it’s making me ill thinking about it they are liars and thieves they have stolen my money there’s not a single person to talk to there’s no one to contact it’s the worst by far platform stay right away
We are in the same boat with payments being on hold for no reason at all.
No one who picks up the phone can solve the problem; still waiting for someone from their "accounting team" to reply back to give a reason why payment is on hold.
We are having legal look at this and starting the process to sue.