Payout has been on hold for over 220 days!

[AtteS]

Hi! My store's payout has been on hold for over 220 days now. I have contacted support like 30-40 times in total, and I haven't got any help at all. Everytime the support advisor says the same thing: "You need to wait for the Shopify Payments team to contact you". They have still never contacted me. I have asked the support to get me in contact with someone of higher authority (for example directly with the payments team), but they just say it's not possible.

It would be really nice to get my money out of Shopify, so I can continue living my life normally and continue my businesses.

Anyone got any idea what should I do?

[Charlesfred]

You should file a formal complaint with Shopify Support and consider contacting a legal advisor if the issue isn’t resolved soon.

[Beacon-Jason]

Hi @AtteS 

Providing a more detailed response on why the payout was put on hold in the first place would allow the community to better understand your situation. 

Shopify may hold payouts for various reasons, including standard reviews, verification of account details, incorrect bank information, product eligibility issues, or risks of chargebacks. To resolve the issue, it's recommended to contact Shopify support and follow their instructions, potentially providing necessary documentation or updating account details.

Reasons for Payout Holds:

Standard Reviews:
Shopify may conduct routine reviews of accounts to ensure the safety of both the platform and the store owner.

Account Verification:
Shopify may need to verify your identity or account information to ensure it matches the banking partners' requirements.

Incorrect Bank Details:
If your bank account information is incorrect or not properly verified, payouts may be held.

Product Eligibility:
Certain products or services may not be eligible for Shopify Payments, leading to holds.

Risk of Chargebacks:
If Shopify's banking partners identify a high risk of chargebacks, they may hold payouts until the risk is mitigated.

Violation of Terms of Service:
If your store or activities violate Shopify's Terms of Service, payouts may be held.

Steps to Resolve a Payout Hold:
1. Contact Shopify Support:
Reach out to Shopify's live support team to understand the reason for the hold and the required steps to resolve it.
2. Provide Necessary Information:
Be prepared to provide any requested information or documentation, such as proof of orders or fulfillment details.
3. Update Account Details:
Ensure your bank account information and other relevant details are accurate and up-to-date.
4. Follow Instructions:
Carefully follow the instructions provided by Shopify support to address the specific issue causing the hold.
5. Follow Up:
If the hold persists, follow up with Shopify support to inquire about the status and ensure the issue is resolved.

[AtteS]

Hi!

The payout is on hold because I received too many chargebacks in a short period of time. The banking details are correct etc etc. And contacting Shopify support is useless. As I said, I have already contacted them over 30 times. And I have not got any help at all. Everytime they say something like: "I will mark this ticket as high priority and make sure this will be resolved as soon as possible." First time they said that like 120 days ago and still nothing from them. Idk what to do...

[Beacon-Jason]

A payment hold due to a high chargeback rate means your payment processor views your account as high-risk. Chargebacks cost processors time and money, and a high rate suggests potential issues with your business model, products, customer service, or fraud prevention. The hold is a protective measure for the processor to cover potential future chargeback losses. Your goal is to demonstrate that you understand the issue, have taken concrete steps to fix the root causes, and are now a lower risk.

It's highly likely that you are not submitting adequate information in order to resolve the hold on your account. Responses must be clear and concise with a firm action that you will work towards reducing your chargeback rate back to satisfactory levels. 

1. Acknowledge and Contact Your Processor Immediately.

2. Review your chargeback data.

3. Create a detailed chargeback reduction plan. 

4. Develop and implement an action plan.

5. Communicating, monitoring, and negotiation. 

6. Continuously monitor your chargeback rate. 

7. Provide regular updates to Shopify.

8. Formally request hold.