For security reasons, Lopay accounts may be put on hold, meaning they are unable to take payments or receive payouts. This article explains why this happens and what you need to do to help reactivate your account.
Why does Lopay put accounts on hold?
At Lopay we understand the responsibility of dealing with people’s money and we have strict security checks in place to ensure our technology is safe and secure for all our merchants and their customers.
When our automated systems detect signs of suspicious activity such as patterns associated with fraudulent businesses or customer complaints it will place the associated account on hold until we can investigate further.
These alerts are designed to help us identify potentially suspicious activity from bad actors, and protect our network from fraudulent transactions. However, no system is perfect, and sometimes genuine users will have their accounts put on hold.
What happens if my account is put on hold?
If your account is put on hold, we’ll need more information from you before we can get you up and running again - please see an overview of the process below:
Account on hold
If our systems put your Lopay account on hold, your app home screen will be replaced by an 'Account on hold' screen. You will be unable to take payments or receive payouts until your account is reviewed. You will also receive an email that explains that your account is on hold, and outlines all the pieces of information we require to be able to unblock your account as quickly as possible.
Information submission
Please provide the following information by emailing [email protected]:
a) a description of your business; and
b) evidence of your business activity, for example:
• Your business licence
• Your physical or online presence
• A business bank statement or utility bill
• Customer invoices or correspondence
• Supplier invoicesManual review
Our Review Team will consider all the information that you provide alongside any payment activity and the account information provided at registration. If the Review Team have any questions they will get in touch as quickly as possible.
Decision
Once your information has been reviewed, the Review Team will lift the hold as quickly as possible and you will be notified that your account is active again.
In cases where the evidence provided was insufficient or deemed to be fraudulent, the account will remain on hold. Any funds in the account will be frozen for 120 days from the last transaction to allow for any customer disputes /chargebacks to be responded to before funds are paid out. A 5% review fee will be applied to all funds paid out after 120 days. Once all funds are paid out, the account will be closed.
Appeal
If you do not agree with the decision reached you may submit further evidence by emailing it to [email protected]. This evidence will be considered by our Review Team and you will be notified if the initial decision is changed. However no further response will be provided if the initial decision is upheld - for security reasons, we cannot provide any explanation or additional detail on the decision reached.
How long does it take to reactivate my account?
We understand that having your account put on hold can be a frustrating experience and, once your additional information has been received, our Review team work hard to reactivate accounts as quickly as possible - typically this is the same day. However, when further investigation is required or the requested documentation isn’t provided, the review process can take longer and we cannot provide a minimum timeframe.
For any further questions or help, please email [email protected]