We had same issue and not getting any response from shopify. We have just started shop and showing same message "Your Shopify Payments account is on hold". Its very frustrating and annoying shopify is doing. Even not giving valid reason.
They told me my account is high risk and closed it i have a business registration for my business and i was using stripe as payment and paypal too even amazon pay. I lost my account that I spent hundreds of dollars to create and design.
im having the same issue as all of you, they are holding over $40k and i cant even access the stores because they are inactive... and even after the 120 days they say the payout failed and i get no further responses from risk