We had same issue and not getting any response from shopify. We have just started shop and showing same message "Your Shopify Payments account is on hold". Its very frustrating and annoying shopify is doing. Even not giving valid reason.
Experiencing the same thing now waiting for them to get back to me its such a pain
These clowns are still at it. We've decided to bail and go to a different platform due to the hostile Shopify team.
Our story is similar to yours; feels like we've been lied to, used and stolen from. Yucky.
I'm going through the same process & I've no idea where this is going to lead me. this is not professional at all.
I would like to know how it went, did you solve the problem?