Shopify Holding ALL Funds over 120 Days due to "Risk of Chargeback"

lifeboosstsss
Visitor
2 0 0

Just like the title says, they are holding payment funds over 120 days. This is absolutely crazy. Every single shopify store I open they will put this on there after a weeks worth. I am tired of Shopify doing this. The crazy part is, I have 0 chargebacks and 0 HIGH RISK orders. This is the most stupidest thing I have ever seen from shopify. After 5 shopify accounts have been locked due to this, I have decided to post on this forum to see what I should do from here on out. I need help, there has to be a way around this. Every time I email them, they will eventually say its a "final decision" 

BACKGROUND: Every store I start up eventually leads to this. Started one 5 days ago from todays date. FIRST they hit me with "business verification" in order to make sure its a legit business (holding payments) After I submitted the documents they wanted, they lifted my account. I was so happy. NOT EVEN 2 HOURS LATER. My account is now back on hold, and payments will be released in the next 120 days due to chargeback risk. Someone please help, Shopify WILL NOT do anything to fix this. NOR they will do anything 

Replies 3 (3)

lifeboosstsss
Visitor
2 0 0

If anyone could help or need more information please reply, I want to get this resolved

Shay
Shopify Staff
2831 442 577

Hi @lifeboosstsss, thank you for sharing this experience here. I definitely recognise how difficult it can be for a small business to have your payouts on hold for 120 days. While I can't change this decision, I am happy to share some additional details with you about how these decisions are made and alternative options you can use while this review is processing. 

 

Shopify Payments is a payment gateways provided by Shopify and powered by multiple banking partners (depending what country you are located in). During the KYC (Know Your Customer) process the banks that power Shopify Payments will provide an assessment of the merchant account and whether they believe it to be a high risk or well suited to the gateway. If the banking partners are concerned about a high risk of chargebacks, which can be decided based on the products you are selling or other risk factors, then a payout hold will be put in place. 

 

This decision is made by our banking partners and cannot be overturned by our support. Once the payout hold period is complete, all payouts held in reserve are deposited into the merchant account. 

 

Shopify Payments is only one payment gateway you can use, and if your business is not suitable for this gateway you can choose to use a different one. I recommend taking a look at the available payment gateways for your business and maybe choose one that is better suited: Shopify Gateways.

Shay | Social Care @ Shopify 
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Risktakerzz21
Visitor
2 0 0

I’ve had my funds held for 120 days now and they promised to release my funds and deposit them to my account April 4,2024 and they haven’t deposited my funds. I emailed them and all they told me is “we have escalated this for funds to be released” it’s completely ridiculous after I waited 120 days patiently to get my funds and to be hit with that . What can I do now . They don’t respond to my emails anymore and take forever to reply