Why are my payouts failing and how can I resolve it?

[camyd]

Hey my payouts have been on hold & failing for nearly 2 weeks at first i was told it may be problems with banking and to change accounts & retry I did that followed all instructions told to me to do and still have yet to get my funds or even given a reason why on hold. I have never experienced any problems with payouts previously. It seems through all this i’ve been going on circles with no help. How can this resolved really holding back my business expansion after only 2 months of operation.

[Shay]

Hi @camyd 

Could you share a bit more details about what is happening in your admin and with your payouts -

Are you using Shopify Payments?

Have you been in contact with our payment support team?

Are you seeing an error message that "Payouts are on hold during a review" or do you see "Payouts failed"?

Some of the reasons a payout can fail are:

• Incorrect bank account information
• Account currency mismatch (Merchants can only receive payouts in their regional currency)
  
• Invalid account type (Must be a checking account, accepts ACH/FPS/BECS transfers)
• Incorrect beneficiary/recipient name
• Using as digital bank account instead of one connected with a physical bank.

When troubleshooting payouts, there is a long wait time between attempts as the system tries to deposit the payout. If it fails it takes 3-7 business days for it to be returned to our system so that we can attempt the payout once more. 

Please continue working with our Shopify Payments team to resolve this. 

[camyd]

Hey Shay like I have previously mentioned this has been going on since mother’s day. It now says my payouts and shopify payments are on hold. I have been in contact with someone with very long response times which isn’t beneficial to me. I have changed banking info 2-3 times with nothing working. My third attempt of the payout again failed and again this is stopping my business from flowing