This is a serious warning to anyone thinking of starting a new business on Shopify.. Although their platform is good and pretty easy to setup, when something goes wrong with this service you are on your own. Recently Shopify have been in touch "we have reviewed your account and decided we are going to stop paying out YOUR money to you and put you on 90 day payouts, this includes all past transactions that have not yet been paid out."
Now you might think Shopify are well within their rights to do this? - but if you had £75,000 taken out of your business, you still have to pay all wages, cant buy any more stock. Also the VAT is due on all of those sales. Shopify already changed my payout terms to 30 days because they didnt like how well we were doing as a business. I get reminded all of the time that we are in the top 1% of performing stores on Shopify blah blah blah.
The annoying thing about all of this is all of these orders have been shipped, fulfilled and completed, surely Shopify should be looking into actual customer complaints instead of potential "risk." We sell £299 items on our store for this Shopify charge us £6.50 per transaction, a number of transactions are flagged as fraudulent from customers, we leave these and contact the customer in case these are fraudulent. Some are and some arent, but we find that we get some really angry customers when we tell them orders have been held because of fraud. The fraudulent customers have charged back and we would of been down £299 if we had sent the products and chargeback occurs. Shopify's response to these chargebacks? "risky" lets put them on 90 day terms, in fact.. All of that other money that was processed and sent out with tracking numbers, lets hold on to that and accrue interest. The annoying thing is Shopify has already been paid for those and taken their cut. Shopify have made thousands from us (we are one of the top performing stores as mentioned)
Shopify havent been willing to cooperate on this at all and just expect you to be OK with it. This isn't the first case I've heard of either, lots of customers complaining about payouts and lets face it, we are in business to at least try and make some money. I WOULD SERIOUSLY WARN ANY STARTUP OR BUSINESS WHEN STARTING A SHOPIFY TRIAL.
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