Our store is relatively new and we have been trying to get our Facebook/Instagram store set up for months now. We have been in the verification process since November, having submitted several documents for verification (including Bank Statements). The Overview page says "We weren't able to verify your shop" but the Settings Page says "Your shop is in review. You’ll need to wait until it’s approved before making any changes to your business assets."
I'm afraid that if I deactivate and reactivate the account connection, it will break the verification process. But at this point I'm not even sure the verification is taking place.
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