TIFU by using Stripe as a payment processor for my small business

Post by peanuty1 » Thu, Jul 28, 2022, 2:50 PM UTC

vilfredoparet0 wrote: post #178

A quote from Patrick Collison from one of the last "HN support threads": "We actually have an ongoing project to reduce the occurrence of these mistaken rejections by 90% by the end of this year. I think we'll succeed at it. (They're already down 50% since earlier this year.)" At this point it is obvious that he/his PR staff are lying. The only question is: What are some good Stripe alternatives?

Post by anonymousab » Thu, Jul 28, 2022, 2:50 PM UTC

xyzzy_plugh wrote: post #101

nfreising wrote: post #88

Earlier quoted context omitted.

I don't think Stripe holding money is the problem here. The problem to me seems that there is no support to be reached at Stripe to dispute their decision or get a human to answer. I agree that OP's business doesn't seem that healthy if $3000 are such a big problem, however that doesn't make Stripe's non-existing support any better.

I've dealt with Stripe support and it's been... fine? Good even? I can only assume that if they've gone radio silent there's a reason. I'm not convinced Stripe is acting in bad faith, as shitty as this is. (Unlike, say, PayPal, who is notorious for shit like this). At least one instance I'm aware of has to do with anti-money laundering regulations, where it can be disallowed to communicate regarding a pending investi…

Post by peanuty1 » Thu, Jul 28, 2022, 2:52 PM UTC

leoff wrote: post #20

vemv wrote: post #11

If it was, say, a $30000 charge I could give Stripe the benefit of doubt, but $3300 is a pretty ordinary amount for any retailer. Could be e.g. a laptop sale, or three phones? When I see Stripe's apology here it will not be enough for me - not at least without a detailed blog post / postmortem. Until/if that moment happens, I'll regard Stripe as an untrustworthy entity and will recommend doing the same to do anyone I…

> When I see Stripe's apology here it will not be enough for me I'm actually just starting a business using Stripe for handling payments, and this makes me very concerned. Is there an alternative service one could use? Is there a way not to give these shady companies power to steal all my money?

Post by austenallred » Thu, Jul 28, 2022, 2:52 PM UTC

ziddoap wrote: post #288

austenallred wrote: post #263

Earlier quoted context omitted.

Having watched a lot of these stories go down one thread in many of them is Stripe was required by some combination of regulators/banks to freeze funds of someone who has been selling cannabis, and because of privacy cannot openly say that such is the case. The person proceeds to escalate and escalate through every customer service option (including Reddit, HN) not necessarily because they’re not getting a response,…

And what does any of that have to do with Elon, Doge, Hashcat, OpenDNS, BTC, or hacking a phone? How could any of those reddit posts be relevant?

Post by SyneRyder » Thu, Jul 28, 2022, 2:53 PM UTC

cdmoyer wrote: post #271

The OP later clarified that it wasn't a normal transaction. They sold a "cheap company van" using their stripe business account. That seems like a huge liability, since a used car seems extremely likely to cause a chargeback. I don't think dealerships would accept a credit card payment (other than deposit) for this reason. https://www.reddit.com/r/smallbusiness/comments/wa1zob/dont_...