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Stripe Treasury

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Re: Stripe Treasury

#171

Post by rattray »

rattray wrote: post #127

Bit of an aside, but as a new entrepreneur selling physical products ( https://narwallmask.com ) I've been surprised by how much time I spend banking. Moving money around is way more of a headache than I would have anticipated. And that's before you even get into questions of working capital etc. As a former eng at Stripe who didn't know this product was coming, I'm very excited to see what gets built on top of it, a…

(since a few folks have been interested in the mask and this is hn, I should mention that I'm currently looking for some freelance frontend dev help right now - I don't have time to fix the hideous parts of my homepage and it's giving me heartburn. Email in profile).

Re: Stripe Treasury

#172

Post by edwinwee »

cdnsteve wrote: post #137
tarstarr wrote: post #5

Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!

Any ETA when this will be available in Canada? I'd like to learn more.

No ETA just yet, but we want to make Treasury available in Canada.

Re: Stripe Treasury

#173

Post by edwinwee »

einpoklum wrote: post #158
tarstarr wrote: post #5

Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!

Hello Tara, Do you allow transactions by and with users in states which the US is (illegally) imposing sanctions on? Like Iran?

No, regulations would prevent Stripe from working with users that have business in sanctioned countries.

Re: Stripe Treasury

#174

Post by edwinwee »

james2406 wrote: post #151
tarstarr wrote: post #5

Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!

Hi Tara, Thank you for dong this Q&A. Really interesting to see that Stripe is heading into the BaaS space! Will you be offering any consumer loans solutions in the future?

No solid timeline—right now Stripe is mainly focused on helping businesses grow.

Re: Stripe Treasury

#175

Post by renewiltord »

rattray wrote: post #169
renewiltord wrote: post #165

Earlier quoted context omitted.

What a fascinating device! Did you find that airlines are willing to accept it? They no longer accept my half-mask respirator with P100 filters.

Thanks! Usually yes - sometimes the gate attendant doesn't understand that the exhale is filtered (I assume this was the problem with your respirator). We have guidance on that here: https://narwallmask.com/pages/usage-guide#h:flying

Yeah, I actually had an attachment to filter the exhale valve. I decided to just swap out as soon as they asked rather than explain (because I had a 3M 1860 N95 in my pocket) which seems to have been the right choice since one of them started to get belligerent about the respirator very quickly as I started taking it off. It looks like they're very sensitive to people doing non-standard things.

I'm not even one to argue with people in these situations so I was happy to play along but that attendant seemed eager to escalate.

Perhaps having the extra filters like you recommend might help, but I suspect it wouldn't have. Hope things have improved since then (a month ago on Alaska).

Re: Stripe Treasury

#176

Post by jdmichal »

conductr wrote: post #159
tempsy wrote: post #125

Earlier quoted context omitted.

It’s a question of defensibility if some regulator came to you and asked why you allowed certain individuals through because a black box told you without any additional context. And I don’t think anyone builds their own KYC from ground up - it’s more whether you have context for a decision with your own vendor implementation vs a black box yes or no.

Isn’t it Stripe’s partner bank that is ultimately underwriting all the KYC on a platform like this? I assume they’ve signed off on how Stripe has implemented it so as to be sufficiently defensible

Ding ding. Notice to open the Treasury account, you need to specify the bank. Stripe is not owning the accounts, the bank is, so KYC is pushed to them.

EDIT: For those that think that just opening the accounts as Stripe would be a workaround, the answer to that is "beneficial ownership" and is part of KYC.

Re: Stripe Treasury

#177

Post by artvark11 »

rattray wrote: post #127

Bit of an aside, but as a new entrepreneur selling physical products ( https://narwallmask.com ) I've been surprised by how much time I spend banking. Moving money around is way more of a headache than I would have anticipated. And that's before you even get into questions of working capital etc. As a former eng at Stripe who didn't know this product was coming, I'm very excited to see what gets built on top of it, a…

Is that an actual product or a joke page? I can't imagine anyone actually wearing something like that.

Re: Stripe Treasury

#178

Post by callmeed »

tarstarr wrote: post #5

Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!

I was denied access to Stripe Issuing for a project I have in the works. I wasn't given a lot of details why or when I could reapply.

Is the same thing going to happen with Stripe Treasury? How can I find out if what I want to do is permissible now that Treasury exists?

Re: Stripe Treasury

#179

Post by edwinwee »

callmeed wrote: post #178
tarstarr wrote: post #5

Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!

I was denied access to Stripe Issuing for a project I have in the works. I wasn't given a lot of details why or when I could reapply. Is the same thing going to happen with Stripe Treasury? How can I find out if what I want to do is permissible now that Treasury exists?

Was it perhaps for a more consumery-type use-case instead of business? Issuing (and Treasury) are mostly focused on building for businesses at this moment (but are also expanding the number of use-cases). Could you email me at edwin@stripe.com and I can take another look?

Re: Stripe Treasury

#180

Post by rattray »

artvark11 wrote: post #177
rattray wrote: post #127

Bit of an aside, but as a new entrepreneur selling physical products ( https://narwallmask.com ) I've been surprised by how much time I spend banking. Moving money around is way more of a headache than I would have anticipated. And that's before you even get into questions of working capital etc. As a former eng at Stripe who didn't know this product was coming, I'm very excited to see what gets built on top of it, a…

Is that an actual product or a joke page? I can't imagine anyone actually wearing something like that.

I know it can be hard to believe, but it's very real (just like COVID). Maybe this quote from a recent customer helps explain:

> I'll look like a freak in the mask, but a LIVING freak. Thank you.

We sold over 1000 of them in our first week, not many returns. I've been wearing mine for months and get way more interest/thumbs-up than "looks".

We do get our fair share of internet trolls, though.

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