Ask HN: Stripe holding funds for 120 days for no reason • Hacker News Board

Re: Ask HN: Stripe holding funds for 120 days for no reason

#121

Post by solardev » Mon, Oct 24, 2022, 9:16 AM UTC

johnhaddock wrote: post #35

I’m the person leading the project to make sure that people have fewer bad experiences with Stripe. I’m not sure what is driving the uptick in posts on the subject to HN in particular (obviously we pay attention to broader online discussion in addition to monitoring our support systems, though we know it creates an incentive for people to publicize their situation). On the topic of Stripe and these kinds of incidents…

Yuck. This is the worst sort of corporate damage control speak I've ever seen on here. I was dubious about your company before, but after your post, I don't think I'll ever use you as a payment processor.

Cut the crap, please. Have the CEO step in and stop your broken automated flags. Put real humans in the appeals process and give them meaningful powers. Stop giving people the run around, and stop posting meaningless fluff.

Re: Ask HN: Stripe holding funds for 120 days for no reason

#122

Post by KptMarchewa » Mon, Oct 24, 2022, 12:33 PM UTC

maxbond wrote: post #63

KptMarchewa wrote: post #44

Earlier quoted context omitted.

I would guess AML, not fraud.

I think they're saying there's an inherent ponzenomics to payment processing, wherein the might use AML as an excuse to paper over a lack of liquidity by stalling withdrawals. Lots of cryptoasset exchanges will freeze withdrawals over fictitious security or AML concerns when they're going under, for instance.

I haven't seen real example of this in real money financial institutions. Haven't followed crypto exchanges though.

Re: Ask HN: Stripe holding funds for 120 days for no reason

#123

Post by maxbond » Tue, Oct 25, 2022, 1:38 AM UTC

KptMarchewa wrote: post #122

maxbond wrote: post #63

Earlier quoted context omitted.

I think they're saying there's an inherent ponzenomics to payment processing, wherein the might use AML as an excuse to paper over a lack of liquidity by stalling withdrawals. Lots of cryptoasset exchanges will freeze withdrawals over fictitious security or AML concerns when they're going under, for instance.

I haven't seen real example of this in real money financial institutions. Haven't followed crypto exchanges though.

I'll add that I'm also not aware of something like this happening outside of crypto exchanges & don't actually hold an opinion on this hypothesis, as I'm not familiar enough with payment processors to know one way or the other. My comment makes me sound like I support this hypothesis, but that's a mistake in my wording.

Re: Ask HN: Stripe holding funds for 120 days for no reason

#124

Post by vnjp » Tue, Oct 25, 2022, 4:01 AM UTC

I have an SaaS service with let twitter user automate their twitter account such as send direct message to new follower, search and retweet /favorite tweets, tweet in schedule, delete all tweets at once , and so on.

I use Stripe as payment method. And Stripe suspended my account 1 week ago. They said they do not allow social media business.

It is a bad experience for me.