41–50 of 105 posts
Since you'll eventually have to understand all the legal aspects of operating a business, you might as well start off that way.
1) It makes perfect sense that a new account is created and that transactions pre-incorporation are not automatically imported. Your new company is required to have accurate books; you can't pretend that transactions executed before the company existed (ie. by you personally?) were actually executed by the company you've later incorporated. 2) SVB seems to be nobody's favorite bank, but it's quite clear to me that th…
With one saving grace, they are known to be highly tolerant of unusual situations. Might help if you are running a weird startup.
I suspect (without proof) that if you are a big trusted entity, Stripe and the whole financial system probably greases the wheels a bit to improve your success rate...
SVB has a reputation as having really bad tech, a bit overly beaurocratic and annoying in general. With one saving grace, they are known to be highly tolerant of unusual situations. Might help if you are running a weird startup.
My biggest problem with Stripe is that roughly 50% of transactions are declined! This is a huge business problem. Not uncommon either for Stripe users. I suspect (without proof) that if you are a big trusted entity, Stripe and the whole financial system probably greases the wheels a bit to improve your success rate...
If you email in (https://support.stripe.com/contact), we also have a declines team that can investigate (I'm also happy to help at edwin@stripe.com).
If you're not in the US, let me first point out that Azlo doesn't even support international transfers. They do not have login system for multiple founders. I'm very sure they don't work with ITIN and require SSN to open an account. Also, only one debit card. No checkbooks.
It appears that you somehow expect every step of the process to be smooth as butter. But nothing about running a startup will be like that. Transferring subscriptions from one Stripe account to another should be the least of your problems when porting an existing business with transactions to a c-corp. Talk to a lawyer and an accountant to understand what you got yourself into. Since you're trying to migrate transactions before the incorporation into the company account, you should talk to them earliest you can.
Earlier quoted context omitted.
OP: In the past, edwinwee has offered this same sentiment only to later ignore me. I'm not sure if he got busy or if he's just trying to save face. Previous: https://news.ycombinator.com/item?id=18081918
I'm curious what you might've asked that led them not respond. Your profile says "Rubyist and fraud expert" so I'm guessing you might've asked a fraud-related question that, perhaps, they are legally/morally/somehow restrained from contacting you further? Are you a customer of theirs? If it was a Ruby question, on the other hand...
I am a customer of theirs for many of my products and clients (all together transact millions each year), yes. They have a great platform and I love what they do for developers at large. Their support could use some tweaking and they could be more transparent, but progress is an arc.
My biggest problem with Stripe is that roughly 50% of transactions are declined! This is a huge business problem. Not uncommon either for Stripe users. I suspect (without proof) that if you are a big trusted entity, Stripe and the whole financial system probably greases the wheels a bit to improve your success rate...
Oof, that is a problem...a decline rate like that is not normal. Have you seen our guide on reducing your decline rate? https://stripe.com/docs/declines If you email in ( https://support.stripe.com/contact ), we also have a declines team that can investigate (I'm also happy to help at edwin@stripe.com).
Does Stripe publish any statistics on what is normal for decline rates, perhaps broken down by categories like payment method, whether it's a first payment or a subsequent subscription payment, how effective the various automatic retry strategies are at saving an initially failed charge, etc?