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Stripe Treasury

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201–210 of 265 posts

Re: Stripe Treasury

#201
post #163

Earlier quoted context omitted.

> Clearbanc, a financial services company, uses multiple Stripe products If Clearbanc tried to use a Stripe product today, it obviously uses the words "investor" and "Fund me" on its landing pages, "democratize access to capital," - so it sounds like crowdfunding, even though I know Clearbanc's business isn't. Your contractor compliance team would say no, but a Stripe W2, who is equipped for this kind of nuance, woul…

I'm confused. Are you trying to say that Stripe is violating their own policies by offering a clearing-house API to facilitate their customers getting loans from banks? Or are you trying to say that a Stripe customer would be in violation of Stripe's policies, if they used this facilitaton-of-loans to provide loans to their own customers? Because I think the first statement is obviously false; and the second statemen…

"I'm confused. Are you trying to say that Stripe is violating their own policies by offering a clearing-house API to facilitate their customers getting loans from banks?"

I think your parent is expressing (among other things) frustration about the fact that Stripe is presenting this product as a very modern, very Internet-based, very progressive product that we expect will be governed by the same kind of opaque, sometimes capricious enforcement of ToS/AUP that google uses to unexpectedly lock people out of their gmail accounts or "de-monetize" their youtube accounts for no discernible reasons ...

... but at the same time, this isn't a free email account and it isn't a video service - it's serious, grownup business involving real money.

So the question becomes, what kind of people are manning the back end infrastructure and how much of it is driven by algorithms ? As your parent describes, he can go to an actual bank and sit down with a real employee and have a substantive conversation with nuance and understanding ... which you can't have with an algorithm.

Re: Stripe Treasury

#202

Earlier quoted context omitted.

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

So it's a faulty and discriminatory service then.

Sounds like something to take up with the US Government to be honest. Every payment processor faces this challenge.

Re: Stripe Treasury

#203

Earlier quoted context omitted.

I'm aware of that practice, and that's why I would hope that we could build something like the often talked about USPS bank, or whatever, so everyone can have equal access to real banking with no predatory practices. Not that any gig companies are doing this yet, or even thought to do it, but I just don't like the idea of this being done in a "company scrips"-like fashion, there are some things that should be totally…

> and that's why I would hope that we could build something like the often talked about USPS bank, or whatever, so everyone can have equal access to real banking with no predatory practices. I signed up on the wait list and emailed patio11 specifically to build such a product. Regarding your point about company scrip, I think prevention against that is best served by reaching out to your Congressional representatives…

Will be interesting to see this product allows you to support customers who are e.g. on the ChexSystems list or have inadequate ID. Since it is real banks under the hood, same problems may apply.

Re: Stripe Treasury

#204
post #59
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!

This is SUPER cool - congrats on the launch! A few questions: Do you plan to offer Stripe Treasury to non-marketplace small businesses / individuals? I ask because the #1 thing I've been wanting for the past few years is basically Stripe Bank :) I hate Bank of America. I'm not happy with any of the other startup banks. And honestly, at this point my first instinct when seeing Stripe Treasury is "Imma just build my ow…

"I hate Bank of America. I'm not happy with any of the other startup banks. And honestly, at this point my first instinct when seeing Stripe Treasury is "Imma just build my own bank for myself!" (and that actually looks like a real possibility, at least technically)."

I did this with Twilio - which is to say, I built my own little personal telco with Twilio.

It's not without it's ups and downs but there are a lot of interesting little superpowers I now have over my telco interactions that I would not otherwise have ...

Re: Stripe Treasury

#205
post #59
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!

This is SUPER cool - congrats on the launch! A few questions: Do you plan to offer Stripe Treasury to non-marketplace small businesses / individuals? I ask because the #1 thing I've been wanting for the past few years is basically Stripe Bank :) I hate Bank of America. I'm not happy with any of the other startup banks. And honestly, at this point my first instinct when seeing Stripe Treasury is "Imma just build my ow…

I don't wanna try and sell it here, but I like and use simple.com. If you haven't tried it I recommend it.

Re: Stripe Treasury

#206
post #77

Earlier quoted context omitted.

Outsourcing KYC is essential if you want preventative measures. Having your own just allows you to learn from getting stung.

Corollary: Outsourcing KYC means they learn from you getting stung.

You can have your cake and eat it, too: - Start with a third-party KYC solution - Slowly develop your own and compare the results with the one from the provider - When your own solution provides something similar to the other one, you can abort the subscription

Re: Stripe Treasury

#207

Earlier quoted context omitted.

> and that's why I would hope that we could build something like the often talked about USPS bank, or whatever, so everyone can have equal access to real banking with no predatory practices. I signed up on the wait list and emailed patio11 specifically to build such a product. Regarding your point about company scrip, I think prevention against that is best served by reaching out to your Congressional representatives…

Will be interesting to see this product allows you to support customers who are e.g. on the ChexSystems list or have inadequate ID. Since it is real banks under the hood, same problems may apply.

[deleted]

Re: Stripe Treasury

#208
post #204
post #59

Earlier quoted context omitted.

This is SUPER cool - congrats on the launch! A few questions: Do you plan to offer Stripe Treasury to non-marketplace small businesses / individuals? I ask because the #1 thing I've been wanting for the past few years is basically Stripe Bank :) I hate Bank of America. I'm not happy with any of the other startup banks. And honestly, at this point my first instinct when seeing Stripe Treasury is "Imma just build my ow…

"I hate Bank of America. I'm not happy with any of the other startup banks. And honestly, at this point my first instinct when seeing Stripe Treasury is "Imma just build my own bank for myself!" (and that actually looks like a real possibility, at least technically)." I did this with Twilio - which is to say, I built my own little personal telco with Twilio. It's not without it's ups and downs but there are a lot of…

Yes! I totally get it and love that.

Sincerely,

--A guy who built his own Asterisk PBX-in-a-linux-box that sat on his desk in 2004 and had 2 physical phone lines plugged into it and today, 16 years later, is still running slight variations of the exact same scripts (although now in the cloud w/ VoIP, but same same).

Re: Stripe Treasury

#209
post #204
post #59

Earlier quoted context omitted.

This is SUPER cool - congrats on the launch! A few questions: Do you plan to offer Stripe Treasury to non-marketplace small businesses / individuals? I ask because the #1 thing I've been wanting for the past few years is basically Stripe Bank :) I hate Bank of America. I'm not happy with any of the other startup banks. And honestly, at this point my first instinct when seeing Stripe Treasury is "Imma just build my ow…

"I hate Bank of America. I'm not happy with any of the other startup banks. And honestly, at this point my first instinct when seeing Stripe Treasury is "Imma just build my own bank for myself!" (and that actually looks like a real possibility, at least technically)." I did this with Twilio - which is to say, I built my own little personal telco with Twilio. It's not without it's ups and downs but there are a lot of…

Can you elaborate on some of those telco superpowers? And perhaps some of the downsides as well? Curious more than anything!

Re: Stripe Treasury

#210
If I were to build a Bank on top of this, what's stopping Stripe from coming up with their own Banking service that undercuts my bank on every financial metric imaginable due to their higher margins?

Honestly that seems pretty inevitable given Stripe Corporate Card came out almost immediately after Stripe Issuing.

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