Unable to withdraw funds from your bank account

schandy
Visitor
1 0 0

I use Transferwise as my bank account for Shopify and they do not allow merchants like Shopify to do direct withdrawals.

My Shopify account is negative due to a charge-back however I have more then enough to cover the negative balance with my sales but Shopify wants me to clear the negative chargeback before they release my payouts. So I have $150 in negative charge-backs but $450 in sales, how can I resolve this? Can I cover the negative payment with my credit card? I don't want to change my bank account. Please let me know what options I might have.

 

Thanks in Advance

Stephan

Reply 1 (1)

Julie
Shopify Staff
1109 106 367

Hi, @schandy!

Julie here from Shopify Support. I'd be happy to offer some insight here. 

First off, I'm sorry to hear that you've received a chargeback. Chargebacks can be quite stressful, but we do have a help doc on managing chargebacks and inquiries that should help make the process a bit easier. There, you'll learn about the chargeback process and how you can submit evidence against it. 

In regards to the negative Shopify Payments balance, it sounds like your bank account does not support debits and may be incompatible with Shopify Payments. If we are unable to debit the account, then the chargeback will instead be recouped from your future sales until the full amount is recovered. 

I also should indicate that it's important to ensure that your account meets the bank account requirements for Shopify Payments. Savings accounts, flex-currency accounts, virtual accounts, and money-transferring services that mimic bank accounts are not supported by Shopify Payments, so it's likely that your account falls into one of these categories. To update the account, you can simply follow the directions outlined in our help doc on configuring Shopify Payments

Lastly, to help mitigate against future chargebacks, I recommend checking out our help doc on preventing chargebacks and inquiries. There's a few tips in there on how to investigate suspicious orders, inform customers on your store policies, and how to keep your customers updated during the shipping process. I think you'll find it quite useful!

Did you happen to receive an email from our Shopify Payments team about your bank account? 

Julie | Social Care @ Shopify 
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