Stripe Corporate Card • Hacker News Board

Re: Stripe Corporate Card

#131

Post by Dunedan » Tue, Sep 10, 2019, 4:44 PM UTC

herostratus101 wrote: post #120

Wait, let me get this straight. You get $5000 of AWS Credits that don't expire and don't require any minimum level of spending by signing up for this card?

From the Terms of AWS Promotional Credits:

> 10. Promotional Credit is valid for a limited time only and expires on the

> date indicated when you receive the applicable Promotional Credit code (or

> such other date designated by us or in these Terms). Failure to use

> Promotional Credit before its expiration date will result in its forfeiture.

> We reserve the right to cancel Promotional Credit at any time. No refunds

> will be granted for any expired or cancelled Promotional Credit.

https://aws.amazon.com/awscredits/

Re: Stripe Corporate Card

#132

Post by willyg123 » Tue, Sep 10, 2019, 4:45 PM UTC

ttcbj wrote: post #21

Well, 2% on some things + 1% on everything else is better than I am getting with Amex now. Plus, $50k in free processing is like $1,450 in free money. Honestly, I wouldn't believe that deal, except that I have a multi-year history with stripe as our CC processor and it has been nothing but positive and as-promised. So, I submitted an application. It sounds like a great deal to me.

If you fly, ever, business gold AmEx cannot be beaten. 4x points on the first $150k spent on two categories of your choice. Then, 25% off(!) flights booked with points at AmExTravel.com.

I will definitely be getting the Stripe card because the intro offers are so good. But, the airfare discounts alone at AmEx Travel are so good it will continue to be my go-to corporate card.

Re: Stripe Corporate Card

#133

Post by myalphabet » Tue, Sep 10, 2019, 4:54 PM UTC

tempsy wrote: post #127

myalphabet wrote: post #66

Earlier quoted context omitted.

Wait, how do these cards work, then? The corporate cards I've used (eg AmEx Corporate) did indeed require a personal guarantee and a personal social security number from each individual who had an account.

American Express has both "Business" and "Corporate Business Cards." The "Business" ones require a personal guarantee. For some color, I've signed up for multiple Amex Business cards in the past as a "sole proprietor" even though I was really just churning the cards for the rewards. You just input your SSN for the EIN. The Corporate Amex cards don't require a personal guarantee.

The AmEx card I used was 100% a Corporate card (not a Business card) and definitely did require a personal guarantee.

edit: After some searching, it appears AmEx offers corporate cards both with and without personal guarantees, and it's up to the company to decide which they want to do. In my case, at one of the largest consulting companies in the world, they required personal guarantees.

Re: Stripe Corporate Card

#134

Post by mjhea0 » Tue, Sep 10, 2019, 4:55 PM UTC

pc wrote: post #107

brettcvz wrote: post #22

It’s impressive to see the velocity of new products that Stripe is putting out. I’d be really interested to see a blog post or similar on how they decide which initiatives to invest in, how they structure those teams and set milestones, etc

[Stripe cofounder] Thanks! We're always paranoid that we're too slow, for whatever it's worth. We're still iterating on the supporting models and frameworks. We think a lot about pace layering -- how do we have teams that think on multi-year horizons (infrastructure, security, etc.) alongside teams that are rapidly iterating at much earlier stages of development. I think a lot goes wrong when organizations insist on…

I really wish you'd focus time and energy on documentation and examples for the current products. I wrote this blog post after a very frustrating experience with Stripe Connect: https://testdriven.io/blog/setting-up-stripe-connect-with-dj...

Re: Stripe Corporate Card

#135

Post by poxrud » Tue, Sep 10, 2019, 4:57 PM UTC

gzer0 wrote: post #57

jbverschoor wrote: post #15

Earlier quoted context omitted.

Let’s say you have an issue because stripe suddenly you’re business is fraudulent (read: you got great coverage on HN and suddenly have 1000 extra customers) Stripe flags you and blocks your account. Done. Now your income and money to spend depends on their customer service. Many people have had the same with PayPal, and some with regular banks. So yes, take the card, but also take 5 other cards.

Stripe has been receiving a suspicious amount of praise from HN. Really beginning to wonder if this is all organic at this point. Obviously lots of employees in the comments which they are not hiding that fact. But still makes me want to dig deeper than the surface (as everyone should).

If you've ever had to setup an ecommerce site before Stripe was around you'd understand why they get so much praise. Your only options were either navigating the complex and expensive world of merchant accounts or dealing with PayPal's horrible API and customer service.

Re: Stripe Corporate Card

#136

Post by porker » Tue, Sep 10, 2019, 4:58 PM UTC

Scirra_Tom wrote: post #26

collision wrote: post #25

Earlier quoted context omitted.

[Stripe co-founder] As multiple commenters note, UK and EU interchange is significantly lower than that in the US. So the rewards market tends to be different as a result. That said, launching this in the UK would still be attractive to us. We don't think rewards are the primary thing businesses are looking for. As we talked to founders, it seems like they all want a corporate card early on for their business spendin…

Thanks for reply! From our point of view, a card where we could use our USD and EUR balance to make USD/EUR payments would be one of the biggest pulls if possible. I think recurring USD charges for UK based businesses are probably quite prevalent. I don't think many UK startups realise how much they lose out on being charged in GBP on these transactions (especially with debit cards). There's likely an opportunity her…

> From our point of view, a card where we could use our USD and EUR balance to make USD/EUR payments would be one of the biggest pulls if possible. I think recurring USD charges for UK based businesses are probably quite prevalent.

> I don't think many UK startups realise how much they lose out on being charged in GBP on these transactions (especially with debit cards). There's likely an opportunity here to educate UK businesses and use that to promote this sort of card.

That's what we use Transferwise and their Borderless Account for.

The challenger banks have similar offerings, with multi-currency accounts behind them. We don't have enough in other currencies to need that (yet, it's on my TODO list) . Not being stung for foreign currency transaction fees is why we put all non-GBP expenditure through Transferwise

Re: Stripe Corporate Card

#137

Post by belthesar » Tue, Sep 10, 2019, 4:59 PM UTC

The spending controls look attractive to me. I have an org that might be a good candidate, as we have several teams that need to manage expenses. Historically, we've used business pre-paid debit cards to control maximum spending, with individual authorizations managing how much folks can spend. It's okay, but it doesn't scale well.

Regarding the controls on the Stripe cards, do they have a concept for Roles? I'd like to be able to say "Managers have a monthly/yearly spending authority up to X, and Directors have a spending authority up to Y", and as we onboard new folks, to put them into a role to manage that quickly and easily.

Re: Stripe Corporate Card

#138

Post by martymacfly » Tue, Sep 10, 2019, 4:59 PM UTC

Thx for this info

Re: Stripe Corporate Card

#139

Post by desigooner » Tue, Sep 10, 2019, 5:01 PM UTC

jakelazaroff wrote: post #12

On top of the more normal percentage cash back, the partner benefits (like 5% off DigitalOcean) make this really appealing. Potentially interesting wrinkle: you're not allowed to carry a balance (from https://stripe.com/docs/corporate-card/faqs ).

it's basically a charge card.

Re: Stripe Corporate Card

#140

Post by mjhea0 » Tue, Sep 10, 2019, 5:01 PM UTC

mjhea0 wrote: post #134

pc wrote: post #107

Earlier quoted context omitted.

[Stripe cofounder] Thanks! We're always paranoid that we're too slow, for whatever it's worth. We're still iterating on the supporting models and frameworks. We think a lot about pace layering -- how do we have teams that think on multi-year horizons (infrastructure, security, etc.) alongside teams that are rapidly iterating at much earlier stages of development. I think a lot goes wrong when organizations insist on…

I really wish you'd focus time and energy on documentation and examples for the current products. I wrote this blog post after a very frustrating experience with Stripe Connect: https://testdriven.io/blog/setting-up-stripe-connect-with-dj...

Moving from the legacy checkout to elements was complex since you do not mention in the docs that validation checks no longer get checked on the client and instead have to happen on the sever.