Woke up to this nice surprise yesterday:
Your Shopify Payments account is on hold
We’re unable to deposit your Shopify Payments payouts into your bank account.
I have already received 2 payouts and was scheduled to receive another. No emails from Shopify asking for an ID or anything. No emails from them at all, actually. I've emailed and started a chat - no help, and no information. I sell clothing, so no banned products. The lack of clarity is a bit crazy. They're doing a good job of giving free advertising to Big Cartel and WooCommerce though...
It doesn't sound like you're account is disabled - just that payouts are paused. It's not that weird for payment gateways (and this isn't platform specific) to do this especially if their banking partners have asked for more info. The requests for more info do tend to come after a few successful transactions or when you start doing certain volumes.
If you've been asked or prompted to chat to the support team, do that to get the process started. Things to do with money and risk need to be handled be a dedicated team so you should get more clarity once you chat to them.
I get the concern. Best to wait until you've heard back from the risks / payments team since those guys are the ones that would generally handle this. The frontline support team can escalate the ticket to them so it gets the eyes it needs. You chatting in to support was the right first step.
I also sell clothing and they did the same thing to me.It turned out that they wanted me to provide a license from all of the brands that I sell stating that I am able to resell their items. It really stinks because now I have to pay a credit card company to process my payments. I am a reseller that gets my 100% authentic produces from stores that have huge clearances or thrifty shopping.
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/ "kidnapped" 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.