Shopify Balance & Reserved Funds Disappeared

[advantcommerce]

We made a switch from our Shopify Payments SGD bank account to a brand new Shopify Payments USD bank account on May 21, 2024. We had a balance of about 6-7k SGD in balance and 10k SGD in reserves which were unpaid. The 10k SGD reserves would release on July 23, 2024. And we thought the remaining 6-7k SGD balance would continue to pay out. 

However, after the switch to the Shopify Payments USD bank account, we've stopped receiving the remaining payout balance of 6-7k SGD. The last payout was May 24, 2024. 

I reached out to support on May 28, 2024. And it has been escalated to Shopify's billing & payments team. I heard back from them on June 7, 2024. I was informed that they would help to transfer 6k SGD in reserves to my USD account. 

It's concerning because I had more money to be paid out and now it is missing! There is a huge discrepancy in pay out and I don't even know where my money is. 

I wanted to check my SGD balance once more, so I took a pause on all of my advertising and business. I made a switch again from USD bank account to SGD bank account, in hopes to view the balance and reserve in SGD. To my horror, the payout was $0 in balance. There is nothing left there. 

I quickly switched back to my USD bank account once more, and the nightmare just begun. All my previous USD balance is also now $0 in balance. 

At this point of time, I do not know how I can move on from here. My cashflow has been greatly disrupted, I have to pay my suppliers and software costs, bills, etc. 

What should I do from here? I can't even call Shopify and their payment and billing team takes 1 business day to reply each time. Everything is crashing down at this point, and I don't even know where my money is...

[Erin]

Hi, @advantcommerce. Thank you for sharing all of that context. For more help with this it's best to let the billing team continue looking into this. If your ticket was escalated to them, then your ticket is in the right place and is being worked on. If you have any questions for that team please email the thread where you are speaking to them and they will get back to you as soon as they can. In the meantime, I'd recommend you not make any changes to your Shopify Payments account as this will likely cause additional issues and increase the amount of time it will take for the billing team to resolve this with you. If you haven't yet, I'd also recommend sending them an email to let them know of the changes you've made so far so they can look into that with you as well as the initial issue.

[philipbida]

Was this issue ever resolved? I´m currently in the same situation.. Switched payout bank and my whole balance and reserved funds are gone. It was around 30.000EURO... The support doesn´t even seem to understand my issue and keeps talking about a singular payout. Please tell me you got this resolved, money can´t just disappear like that.

[advantcommerce]

Hey, eventually I was contacted by Shopify Payments team, and they helped to rectify the issue. I already got my half of my previous payout, and the rest of the reserved funds will be released on the due date (23rd July 2024). I recommend to not switch back to your original currency payment, as it will cause more problems. Crossing my fingers everything goes smooth on 23rd July. 

You can always check your pending payouts under transactions. 

[philipbida]

Thank you for your reply, how long did you have to wait for this? And what did you do for them to contact you? Since all my tries to contact support feels pointless, they are not helping or giving reassurance at all..

[Gufranshaikh]

Hey I'm having the same problem and it's a huge trouble for me as well, did yours get resolved? Any tips on how I can do it as well? Your help will be much appreciated, Thankss!!!