Shop Pay Installments payouts are failing to deposit despite correct bank info and successful Shopify Payments deposits. The issue began after enabling Installments on September 4; multiple payouts have failed since. A support ticket was submitted two weeks ago with several follow-ups, and the merchant was advised not to disable the payment option.
Shopify staff note many banks are rejecting payouts from Affirm (the provider behind Shop Pay Installments) when the bank account beneficiary name differs. Due to complexity, cases must be escalated to the Shopify Payments team; this ticket is already escalated and cannot be expedited.
Actions/updates: wait for the escalated review; keep Shop Pay Installments enabled as advised. No concrete fix or timeline was provided.
Status: unresolved and ongoing. Another participant reports the same problem and asks if a solution was found, stating they’ve received no answers. Key open question: when a resolution will be provided or what specific changes (e.g., bank beneficiary name) might be required.
I added Shop Pay Installments as a parent option on September 4th. It was my understanding that payouts would be made the same bank account as my Shopify payments. However my shop pay payments failed and are not able to be deposited. The bank info is correct as I have been receiving my Shopify payments.
It has been 2 weeks since I submitted a ticket via Chat and I have followed up about six times via email, chat and phone and I am being told I am in the que. However since then there has been more payments that have failed and they advised me not to disable the payment option until the issue is resolved.
Thank you for bringing this to our awareness. We are finding that a lot of banks aren’t accepting the payments from Affirm if the bank account beneficiary name is different. The issue does require an escalation to our Shopify Payments team for further review due to the complexity of the issue. From the sounds of it, your ticket has already been escalated to the appropriate team. While I can appreciate that this is an urgent matter for you, we will need to wait for your ticket to be reviewed before an update can be provided as the process can not be expedited.