Why isn't Shopify releasing my payment balance?

[Shqipe07]

Hi,

I have had very many problems with shopify payments since 4 months now.

I got a hold on 15% of my revenue at the end of December 2023, I then got payouts until early january until Shopify suspended me completely. After that I contacted Shopify every week about my balance which I haven't received yet. Each time they say they are working on it and that they understand how serious this problem is for me.

I understand that some of my sales are on hold, only I still have no information on when I will get this money. And my balance that is not on hold I have no information about it either and this while I have been in contact with them every week for 4 months.

After several months I got a response from "shopify's legal team" about a payout but we didn't get very far with that either.

So we still don't know after 4 months when we will get our money. We as a company currently have not received 50% of our revenue and we have had many problems since we have had this problem, we had to purchase our products, pay ads and pay taxes while we did not have access to our 50% of our revenue.

I am sincerely very disappointed with Shopify, I did not expect this from them and their communication is extremely horrible.

I would advise everyone to think twice about using shopify payments, once there is something with your account they are your worst enemies.... 

[HUNTEDFOX]

SAME PROBLEM:  We built YOUR business, Shopify.  WHY are you destroying OURS?

After opening our second store, we verified everything and were approved for Shopify Payments. After several transactions, I signed in to find that my payout of over 6k was on hold and I had to contact Shopify, which as we all know has migrated to a "chat bot".  This raises a RED FLAG. Why am I being asked to chase down a problem that I was never alerted to?  I'm told they will "email me".  2 days later without any response from Shopify, monies were still on hold, I'm getting frustrated.

Aren't there laws surrounding the handling of monies? 

YUP, there are- on both sides of the coin.   
In this case: Shopify is the Payment Processor- while WE are the Consumer. 
______________________________________________________________________________________________________________________________
US Electronic Fund Transfer Act (EFTA) and Regulation E
EFTA: The Electronic Fund Transfer Act (15 U.S. Code § 1693 et seq.) establishes the rights and liabilities of consumers and the responsibilities of all participants in electronic fund transfer systems.

• Regulation E: Implements the EFTA and includes requirements for:
• Disclosure of Terms and Conditions: Payment processors must clearly disclose the terms and conditions under which funds may be withheld.
• Error Resolution: Procedures must be in place to resolve errors promptly, including those related to withheld funds.
• Unauthorized Transactions: Handling and reporting unauthorized transactions and notifying the consumer promptly.

1. Unfair, Deceptive, or Abusive Acts or Practices (UDAAP)

• Enforced by the Consumer Financial Protection Bureau (CFPB), UDAAP prohibits financial service providers from engaging in unfair, deceptive, or abusive acts or practices. Withholding funds without proper cause or clear communication can be considered a violation

___________________________________________________________________________________________________________________________________

After finally getting a response, Shopify asked me to verify the same documents I had previously provided to open the account. This seems negligent, especially now that they have $6,300 of our funds. I provided the documents again, and Shopify confirmed the account was in "good standing" and payments would be processed.  Yet, 15 minutes later, they sent another notification putting the account on hold again,  blocking incoming payments as well as the payout.  

For three days, I've been emailing Shopify “Customer Support” to find out what is needed now to resolve this issue. NO one can give me an answer.  They have "escalated my request" yet cannot seem to get tot he bottom of it and deliver a direct response towards a resolution.  Despite all of my emails and requests, I still receive the same false and inconclusive emails from Shopify:

"Hi there,

Thank you for reaching out. I understand the urgency of the hold on your payments. Two escalated tickets (Ticket #47680900 and Ticket #47610956) are actively addressing your concerns. Our specialized teams are working diligently on your case and will update you as soon as they have information."

This situation is debilitating and unreasonable. Shopify's actions are unlawful and unethical. They cannot withhold our money without providing any response or actionable steps within a reasonable time frame. They are using our cash for their business needs, while harming ours. 

After 8+ years with Shopify - what used to be excellent customer service has now become an absolute nightmare.

I'd happily start a class action suit, as I am clearly not the only one affected.

Shopify is BREAKING THE LAW.
Shopify's actions are Unfair, Deceptive, & Abusive

This is absolutely unacceptable. 

[OmfgReallyNicki]

They are doing this to me as well, I have 3 stores and they placed all 3 on hold, each has a seperate email and they claimed I would have recieved an email but none if them did, and the chat can't access anything or get any information they just say they will escalate it and then I get no response... I need this money to operate but they don't care. The keep saying it's fine customers can still pay but if I'm shipping items I paid for and paying the shipping only to get no money I will run out of capital and be unable to even run my business. And there is litteraly nothing I can do. I will be switching platforms immediately this is insane.