What impact does the bank closing have our our Shopify stores? Not finding much information on this but see that Shopify is a customer that continues to be listed in news related to the bank closing? What guidance is Shopify giving us? Should we temporarily shut down Shopify Payments?

Hello, On Friday March 10, 2023, the United States Federal Regulators shut down the Silicon Valley Bank (SVB). Shopify knows that you might’ve been impacted, and we’re doing everything we can to help you. You can use the information on this Silicon Valley Bank (SVB) FAQ page to find answers to spec…

Does the SVB shutdown affect us as store owners?

That’s my concern as well. I have customers paying for their purchases. Do I need to stop?

I found an article on thehill.com saying the following: “Silicon Valley Bank’s clients included brands such as Shopify, ZipRecruiter, Pinterest and venture capital firm Andreessen Horowitz, among others.” I was trying to find out if I should deactivate Shopify Payments and just use PayPal, not sur…

I asked Shopify Support about this directly. They said: “Upon checking, the payout functionality for both Shopify Payments and Shop Pay Installments is not impacted by the Silicon Valley Bank closures. Merchants who currently have a Silicon Valley Bank account on file for Shopify Payments have had …

Noticed payments to my Shopify Capital loan have been paused. Hoping it doesn’t effect the ability to get capital cash advances.. I know it’s too early to tell but this could probably be one of the negative ramifications moving forward.. Small businesses like mine reley on that advance every 5 mont…

Not sure you need to do anything. 95% of the liquidity in SVB is accounted for. However I did notice that Shopify Capital payments have been paused. I just hope it doesn’t affect the ability to get new cash advances moving forward as that was probably their main bank for supplying cash to loan custo…

I got this from a different post. this answer was posted about 15 minutes ago. “I asked Shopify Support about this directly. They said: "Upon checking, the payout functionality for both Shopify Payments and Shop Pay Installments is not impacted by the Silicon Valley Bank closures. Merchants who cu…

Are we sure more people are affected? I’ve had a payment from my Shopify payments account say “pending” since Wednesday night/Thursday even though I’m scheduled for daily payments it still hasn’t gone through. And no, I don’t use SVB.

What a coincidence my payouts are on hold as soon as this news dropped… dealing with this is a nightmare whether it’s because of this or not.

How does Silicon Valley Bank's closure affect our online stores?

Shopify Discussion

AshleyJ March 11, 2023, 5:06pm 3

I’d like to know this too. Will payouts be held because of this mess?

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How does Silicon Valley Bank's closure affect our online stores?

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