Missing 20k From Shopify Payments Payouts

[ecombgrize]

One of my stores had roughly $20k in reserves that were supposed to get released around this time in July 2024, so today I checked my store and couldn't find this payout.

I had to double check to make sure I wasn't going crazy, but $20k is a large sum of money so I knew I wasn't making things up.

I went ahead and pulled all the data for this store, and another store to compare to make sure the data was accurate.

Store 1: Jan 1 2024-July 19 2024

$142.4k in net sales

$100,458 in Shopify payments

$43,800 in paypal

Exported Payout Data from Shopify:
$100,458 in sales

$5,115 in fees

$93,410 paid out

$1930 left owed. This is within a small margin, and doesn't account for chargebacks/refunds so this store seems to be fully up to date on payouts. It also doesn't show any payouts owed so this store is fine.

Store 2: July 1 2023-July 19 2024

$448,411 in net sales

$302k in shopify 

$136k in paypal

$12.1k in stripe

Exported Payout Data from Shopify:

$297,530 in sales

$14,160 in fees

$261,170 paid out

$22.2k left owed based off of exported data, even though Shopify dashboard shows $302k in Shopify payments and the exported data shows $297,530 in Shopify Payments.

Now this is a large discrepancy, and proved to be on par with what I remembered being owed for this store. 

Can anyone explain where these missing funds went? I would hate to have to get a legal team involved on this matter. There is also another store of mine that appears to be missing payouts, only a few grand that's not due to be paid out for a few more months, so I haven't pulled the data on that one yet.

In my payouts section, there is nothing up top showing 'previous payout' 'next payout' 'balance' and 'reserved funds' like there is in my other stores.

[Made4uo-Ribe]

Hi @ecombgrize 

You will need to contact Shopify support regarding this. 

[ecombgrize]

That was the first thing I did, but was of no help

[ecombgrize]

Still no help from Shopify

[NickatMadisons]

This is happening to us to. Major monthly descrepencies between shopify payments accepted and actual payouts! Looking at upwards of 8% per day! 

[msp24]

Same.  I have been in business with Shopify for 10 years and nothing has change my end and NOW, with no notice, no information they are holding $25K hostage.  Last month it was $43K and after HOURS on chat with support, suddenly the next day it was released.  This is outrageous and a violation of Shopify's own terms (payments are made each business day).  Ironically, while they are holding my money hostage, I am being hit up CONSTANTLY  by Shopify Capital to loan me money because my business is so good.  Class action, anyone?  

[ecombgrize]

They are definitely violating their terms and breaking the law. If we round up a few others, we can get something going for sure. Their customer support is beyond terrible. For a publicly traded company, this is not acceptable.

[BraxHunt]

did you ever get your funds back???

[msp24]

I finally received my payment balance after 'reverifying' my banking information a dozen times.  The banking information never changed and Shopify was able to deposit smaller increments daily, so it clearly wasn't a banking issue.  Shopify now changed the payout dashboard so you can't see pending payouts.  Now, according to my accountant, the annual discrepancy in my sales vs Shopify deposits/payouts is $68K year to date.  Shopify support is no help.  Funny, Shopify stock jumped 21% in one day after Q3 earnings report.  Hmmmm.