I have been looking into switching to the shopify platform, however I hear too many stories of Shopify Payments suddenly withholding a payout of funds and it sometimes being a nightmare to get this fixed. I do not plan on dropshipping, but run a digital educational membership site, as well as another site where I make and ship the items myself. From what I hear most issues seem to be with dropshipping sites.
I'd like to hear of anyone else experiencing issues with Shopify Payments suddenly holding funds - which can really hurt a business, if not end it altogether. Am I worried too much about something that will likely never occur, or are my concerns justifed?
Thanks for reaching out about your concerns with using Shopify Payments. I'd be happy to quickly touch on some things to consider:
We can require different pieces of information from you depending on your location and business to verify your identity and your business when using Shopify Payments. Holds can be placed on your Shopify Payments account while we conduct these reviews, but typically they are standard reviews that take approximately 24-72 hours to complete. As well, typically these holds are on your payouts only, and do not stop your customers from being able to checkout using Shopify Payments. We have a recent Community post that reviews Shopify Payments account verification in detail, that'd I'd recommend running through as well.
Do you have any other questions about migrating to Shopify that we can help answer? Let us know!
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