My store was doing very well and went viral overnight. Shopify started holding my funds and caused a delay in orders. They had no reason other than the fact that my account was new. The delay in orders caused 14 chargebacks (out of 1,000+ orders). Now they have closed my payouts account with no warning, and are holding the funds for another three months, after holding them since July. They have frozen my balance account and will not give me any access to my money. This is very frustrating. Shopify is the reason for the chargebacks. I used all of my profits to fulfill orders, hoping that the reserve funds would be released. Now they are holding the reserve funds even longer. I now have no profits and no access to the money that I made. I’m unable to fulfill orders and my customers are angry. This has been the worst experience for a small business owner. The only reason my store is an elevated risk is because of Shopify!!!
Update: we emailed Justin with the Shopify balance team. We have already swapped payment processors due to this experience, we were able to transfer our remaining funds to an external business account, and the issue is resolved! However, it has been very frustrating. Shopify is a great platform for hosting, but if you are doing a large volume of orders, we do not recommend them as a payment processor.