Shopify Holding Funds for 120 Days!

retroclothing
Visitor
2 0 0

Shopify this is the worst. I received an email in June in reference to me updating my shipping and funds would be held. I shipped out all my orders and they released my funds. Fast forward to 30 days later I get another update that my funds are being held for 120 days and I can't use shopify payments anymore. Over 25,000 being held until December. 

 

Cant contact customer service because somehow they assume web text and email is the best form of communication. Having to wait around 3 days for a generic email stating the reasons behind them reviewing my account cant be disclosed. Shopify even told me to refund orders or cancel orders and let customers check out again. Being realistic, whos really going to do that SHOPIFY??? Even if we offered refunds, how will they get the money back if you holding all my funds. Even the money I HAVE in my reserved account. 

 

In the meantime, no funds available for shipping or to continue Manufactuing of my orders.  I can understand future orders but why is the money that cleared being held.

This is so frustrating because Shopify how am I supposed to continue on a business owner.

 

Nothing to expedite the process, no real resources, no real answers. 

I thought Shopify was supposed to help small businesses.

 

Anyone experienced this and actually received their funds back after the hold. 

 

ATP, I'm going to find another site to do my business with. I just want my money.

 

 

Replies 3 (3)
JackDaniels23
Shopify Partner
7 0 2

I had the same issue back in May. It is a disaster.  I wish I would have known all the things that could happen if you have a few returns.  Shopify will count cancelled orders as returns as well, so you can't edit orders or cancel during order entry.  My entire business was gone overnight.  I have been running my business for about 3 years now.  They froze my payouts, so I had zero capital or eventually funds from other sources ran out.  Then you realize what is really going on.  They are not making money of your business.  There is no warning either.  All I have to say is have a backup plan.  This situation ruined my reputation in my industry.  I was dumb and took out Shopify Capital payday loans. I would have never started here if I knew what was going to happen.  People need to listen to others that are posting threads similar to this.  Shopify does not give a damn about you, your family or your dog.  They want new customers to sign up and be done in a year or enterprise customers on Shopify Plus.  (Read the Shareholder Meeting Notes) You aren't going to get a lawyer because they are in Canada and Canada sucks.  If you think any government entity is going to waste their time with a carp hole platform like Shopify. Good Luck.  You need to learn the basics of programming and develop your own site.  Get a real payment processor too. I went around Shopify to Strip and Shopify still takes their cut and monitors your payments.  They MONITOR everything you do.  This is no joke.  If you think you backed up your theme and files.  Good.  They are not on your PC anymore.  I work around the clock. Have you ever seen someone access your PC in real time?!?!? It is not a comfortable feeling.  Good luck to all, and please build a backup site.  Have a plan.

retroclothing
Visitor
2 0 0

Did you ever get ur funds back tho? I’m okay with them shutting me down… just want what’s rightfully mines 

JackDaniels23
Shopify Partner
7 0 2

No, They held them in a "Reserve Fund."  That was basically my working capital.  I tried to move money out of my balance account, but they will dead end you every which way.  So if there is no working capital, that puts you behind even more.  The stress is unbearable. I manufacture the products and raw materials are easy to obtain.  The few returns I had were close contacts. Shopify doesn't see e-mails and/or hear conversations that you have with customers.  All they see is a returned sale. Which put my return ratio over 1%.  I calculated my return ratio at .3%.  They included orders that I manually cancelled.  It just seemed like there was a distinct time where they wanted to close my business and move on.  I had just paid off a capital loan.  They told me it was their Bank and Payment Processor (Strip.)  It's weird I was able to open an account with both their bank and Stripe without any issues.  I am still trying to recover months later, but my reputation in my Industry is tarnished now.  Have a backup plan.  Don't use their bank account on the platform.  Have your payouts go into that account then transfer them out. Download your theme file, Backup Everything, download all your transactions. (Payments, Payouts, Customer Transactions, Etc....)  They will not provide you anything.  Good Luck! Move on and never look back.