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Stripe Atlas

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Re: Stripe Atlas

#361

Post by reviseddamage »

michaelschade wrote: post #289
pbreit wrote: post #276

Earlier quoted context omitted.

I'm still a little confused on whether or not this is better than incorporating in your own country. Is this more geared to accelerator startups who are thinking of moving to the US? Certainly US incorporation is not required (or even all that helpful?) in establishing a US presence?

Great question! I've learned a lot about this as I've gotten to hear from entrepreneurs that tried to setup in their own country, but ultimately came to the US. The video on our site gives some glimpse into the problems these entrepreneurs run into: https://stripe.com/atlas#stories The gist is that certain countries have a better business and banking infrastructure than others for entrepreneurs looking to establish a…

Why SVB and not WF? Seems odd that the sponsor bank for your payfac distribution, that has more resources than SVB, won't equally house the account for this new vertical. Any particular reason?

Re: Stripe Atlas

#362

Post by bootload »

"Once you’re invited to Stripe Atlas, you’ll provide us with some more information about your product, team, and how you’d like to set up your new company (like the name!)."

From the FAQ, [0] Is Stripe creating a startup incubator?

[0] How Does it Work? https://stripe.com/atlas/faq#How-does-it-work

Re: Stripe Atlas

#363

Post by tammyp »

reviseddamage wrote: post #361
michaelschade wrote: post #289

Earlier quoted context omitted.

Great question! I've learned a lot about this as I've gotten to hear from entrepreneurs that tried to setup in their own country, but ultimately came to the US. The video on our site gives some glimpse into the problems these entrepreneurs run into: https://stripe.com/atlas#stories The gist is that certain countries have a better business and banking infrastructure than others for entrepreneurs looking to establish a…

Why SVB and not WF? Seems odd that the sponsor bank for your payfac distribution, that has more resources than SVB, won't equally house the account for this new vertical. Any particular reason?

I'm curious about this as well. How did you choose your banking partner and what considerations did they have re: kyc/aml in this venture?

Re: Stripe Atlas

#364

Post by michaelschade »

Scarbutt wrote: post #350
michaelschade wrote: post #338

Earlier quoted context omitted.

We are looking into it :-)

does stripe support personal bank accounts? I have a U.S personal bank account but I don't live in the U.S. nor do I'm a U.S. citizen, in my country there isn't anything as awesome as Stripe, the bank infrastructure here is pretty bad and non existent for online payment processing of credit cards. All my clients will reside outside the U.S. but I want to use U.S/Stripe as a proxy for getting paid.

While we include a new bank account when you incorporate through Atlas, you can update your Stripe account to use a different bank account—like your personal account—if you prefer. That said, using a checking account over a personal bank account might make more sense for your business; you'd want to get advice on this to decide the best setup for you.

Re: Stripe Atlas

#365

Post by amgin3 »

hizanberg wrote: post #42
amgin3 wrote: post #31

Is there really a market for this? Why would anyone outside the US want to open a US company when you can just as easily open a company and bank account in a tax-free country with little/no oversight?

Which country lets you easily open a bank account and accept Stripe Payments with little/no oversight?

Belize, Nevis, British Virgin Islands are all places you can incorporate for little cost and no taxes, there are many online services that will set it up for you just like Stripe is doing in the US. With a corp in one of these countries, you can then open a bank account in Singapore, Hong Kong, etc. where there is no oversight on your account so you are free to do what you want.

Re: Stripe Atlas

#366

Post by ben174 »

glossyscr wrote: post #82

I just checked the prohibited businesses https://stripe.com/de/prohibited-businesses I am fine with most of them being prohibited but at some points it's getting quite restricted: 1. Virtual currency that can be monetized, re-sold or converted to physical or digital products or services or otherwise exit the virtual world 4. Sexually-oriented or pornographic products or services 9. Engaging in deceptive marketing pra…

> who decides what is 'deceptive'

Stripe does. No one is entitled to use their service. It's their decision.

Re: Stripe Atlas

#367

Post by notlisted »

yeahrightfam wrote: post #215
zrail wrote: post #207

Earlier quoted context omitted.

> no volume discounts This is false. They have volume pricing breaks starting at 80k USD, 30k GBP, 30k EUR, etc processed. Check your country's pricing page. US example: https://stripe.com/us/pricing

https://memberful.com/blog/stripe-vs-paypal/ Obviously depends on your use case but with PayPal you break even at $5,000. Way lower than 80k month. And "get in touch", yeah I know what happens when you try get in touch with them. Also consider adding: [Disclaimer: I write books about integrating Stripe with your business]

Re: your link I organize once-yearly events (in de US) with up to 1000 attendees, incl. 30% Western-European cc holders (not from the fraud-prone countries in Europe).

In addition to the higher fee structure for international cards, Paypal's refusal rate of international cards was atrocious.

The final drop in the bucket was that after 5 years (same event, same time-frame, same number of attendees, same volume), Paypal froze all funds 3 days before the event was to take place.

Switched to Stripe 3 years ago rarely have a problem. Great interface, great support, no penalty-for-amex rates, low 'card declined' rates, proper handling of disputes (unlike paypal who typically found in favor of the person paying) Daily automated deposits (after 7 days) are a major plus too. Definitely worth the extra money ($500 on 75k volume as per your table shouldn't make anyone pick Paypal)

Re: Stripe Atlas

#368

Post by JoshTriplett »

Someone1234 wrote: post #272
JoshTriplett wrote: post #216

Earlier quoted context omitted.

> 9. Engaging in deceptive marketing practices (here: who decides what is 'deceptive') If you have to ask whether you're being deceptive, or the answer depends on who decides, you're doing something horribly wrong.

Except I could argue that most major company's sales pages are deceptive. I mean just look at cellular or cable services in the US, find me ANY that isn't being deceptive in one way or another. Heck I'd even argue that Google Fiber's page has several statements and claims which are suspect.

> I mean just look at cellular or cable services in the US, find me ANY that isn't being deceptive in one way or another.

And cellular and cable companies are some of the most hated in the US, not least of which for deceptive practices.

Re: Stripe Atlas

#369

Post by plumeria »

pbhjpbhj wrote: post #115
amalag wrote: post #99

Earlier quoted context omitted.

How would you receive the money from the US bank account then?

Would they need to, they could perhaps [mostly] purchase capital items by transfer of funds directly from the USA bank to the seller?

Or using a credit card issued by their US bank?

Re: Stripe Atlas

#370

Post by SkyMarshal »

reviseddamage wrote: post #361
michaelschade wrote: post #289

Earlier quoted context omitted.

Great question! I've learned a lot about this as I've gotten to hear from entrepreneurs that tried to setup in their own country, but ultimately came to the US. The video on our site gives some glimpse into the problems these entrepreneurs run into: https://stripe.com/atlas#stories The gist is that certain countries have a better business and banking infrastructure than others for entrepreneurs looking to establish a…

Why SVB and not WF? Seems odd that the sponsor bank for your payfac distribution, that has more resources than SVB, won't equally house the account for this new vertical. Any particular reason?

Having used SVB at two startups now, they just get startups in a way that the big banks don't. They're not a huge multinational behemoth with its own corporate culture, but rather they specialize completely in the SV business/tech/startup world, it's their DNA. That little intangible is worth a lot.

https://en.wikipedia.org/wiki/Silicon_Valley_Bank

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