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

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

#51

Post by bombcar »

JumpCrisscross wrote: post #41
edwinwee wrote: post #31

Earlier quoted context omitted.

We don’t touch reserved funds (and don’t earn interest off them either). The funds are saved for individual Stripe accounts and are only used to cover refunds and disputes from their customers.

> don’t earn interest off them either Why not? You could use it to lower the cost of your services. (Someone is obviously earning interest on it. Better you than your bank.)

Probably trying to avoid a conflict of interest. The magnanimous thing to do would earn interest and track it and refund that interest minus taxes to the final fund recipients- either the business or the customer. Might even be tax free if setup right.

Even the IRS does it.

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

#52

Post by [deleted] »

unethical_ban wrote: post #48
WheatMillington wrote: post #38

Earlier quoted context omitted.

>I’m the person leading the effort to make sure that people have fewer bad experiences with Stripe. No offence, but you're doing a bad job.

The person posts an essay on their perspective and that’s what you have to say?

[deleted]

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

#54

Post by thot_experiment »

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…

What if, get this, instead of all this vague shit about doing better you just had a support team you could talk to without blowing up on twitter/hn?

If I wanted to charge people on the internet right now I would go with Authorize, even though I've used Stripe in the past and had good experiences. Now my understanding is that I pay for the convenience of the better API etc. with the inconvenience of being unable to talk to a human that can make decisions if something goes wrong, unless I get sufficient upvotes/retweets.

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

#56

Post by Komodai »

Tomte wrote: post #27

You're fine with having payments refunded for (presumably) services rendered? Either it's not a business, but a mere hobby, or there is something to it you're keeping from us. Probably the former, but it makes me immediately suspicious, even with the recurring and well-documented "situation" with Stripe.

No post body was provided.

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

#57

Post by zomglings »

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…

No post body was provided.

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

#58

Post by maxbond »

e28eta wrote: post #26
etaioinshrdlu wrote: post #13

Sounds exactly like PayPal. Is there a law of nature that forces payment processors to act like this?

Not a law of nature, but there are laws of man against “Tipping-off” [1]. Add in the fact there are people trying very hard all the time to defraud the payment processor. So now you can directly measure false negatives in fraud detection, but your false positive rate is harder to figure out. And whatever mechanism you use to recover from false positives can be abused by true fraudsters. So it becomes a hard problem -…

You're suggesting this likely happens because the payment processor has reported their suspicions to a regulator who isn't getting back to them in a timely manner, and so they can't release the funds until they do? I'm a bit confused because it seems to me that the tip off is when they won't disburse your funds.

ETA: Maybe it's more that they can't give you any information because they can't allow adversaries to differentiate between glitches, random screenings, and investigations?

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

#59

Post by johnhaddock »

zomglings wrote: post #57
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…

Quoted post unavailable.

We’ve been investigating this case for the past 24 hours, and it's not straightforward. I can’t share more publicly here, but we’re in touch directly with OP.

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

#60

Post by benjaminwootton »

thot_experiment wrote: post #54
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…

What if, get this, instead of all this vague shit about doing better you just had a support team you could talk to without blowing up on twitter/hn? If I wanted to charge people on the internet right now I would go with Authorize, even though I've used Stripe in the past and had good experiences. Now my understanding is that I pay for the convenience of the better API etc. with the inconvenience of being unable to ta…

This is all I want from any service that I buy from. Good, responsive support without scripted responses and black hole email addresses.

Surely that is even more important with a business critical payment provider?

I’ll forgive a lot if that is in place.

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