Emergency: Unjustified Withholding of Funds and No response from the team handling this.
Dear Shopify Community Members,
First of all, I ask you to read this message before you want to opt for shopify.
I recently migrated from WooCommerce to Shopify, we encountered some unexpected issues that are jeopardizing the financial stability of our business.
After only 7 days of using Shopify Payments, we were faced with a 120-day 100% hold on our funds, i.e. 43,000 euros, under the pretext of covering possible chargebacks, when we had none. that time. We are still worried about not receiving these funds and our business is suffering the disastrous consequences of this situation.
This 100% hold not only affected our cash flow, but it also disrupted our business operations, leading to delays in shipping orders. Despite our responsive customer service and efforts to inform our customers of potential delays, some have unfortunately issued chargebacks without contacting us, impacting our reputation and finances.
After several emails and hours of talking to support, Shopify indicated that they would reduce the hold period to 60 days if our dispute rate remained low. However, with the implementation of this 100% hold, we have unfortunately been confronted with disputes, directly linked to this blocking of funds. Under these circumstances, we are concerned that Shopify will not release funds after 60 days, even though these disputes are entirely their fault.
We would like to point out that this 100% hold to cover chargebacks is completely disproportionate, and that 10-20% would have been more than enough. Additionally, we now fear that we may never get our funds back, as has happened to other merchants who were unfairly classified as a "risky business" by Shopify, causing them to lose their entire funds after 120 days.
But now, despite our numerous attempts to contact Shopify by email to immediately release our funds because our business is in bad shape, we have received no response for a week. Even the intervention of our lawyer, who sent them a registered letter issuing formal notice and requesting late payment interest of 10% per week, went unanswered.
We would like to resolve this issue amicably, but we are compelled to alert the Shopify community to this concerning situation. We hope someone can provide us with some assistance or quick clarification.
Ticket ID: c4b8dfe2-0fb0-40fe-88a5-c0bfe8a23339
Your support in this matter is greatly appreciated.
Sincerely
