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Stripe has decided to nuke my entire business

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Re: Stripe has decided to nuke my entire business

#451

Post by rsync »

redeeman wrote: post #133
senko wrote: post #56

This is bad. There are more and more Stripe horror stories like this, and from an outsider perspective it looks awfully like PayPal behaved back in the day (probably still does but I'd never touch it again as a merchant). I have positive experiences with using Stripe in my last startup and we're currently building Stripe integration on another, which will process about 50% of our revenue (the other payment method bei…

I have personal knowledge of more than one instance where stripe totally screwed over small companies and simply decided to ignore any contact for more than half a year, withholding the money and putting everyone in limbo. yeah, im sure its a minority of accounts at stripe, but seriously, do not take the chance!

There is no way they ignored legal service.

Op speaks of calling and emailing and reaching out … instead, pay your lawyer 30 minutes and have the letter hand delivered to their legal department.

I can’t predict what will happen but it won’t be ignored.

Re: Stripe has decided to nuke my entire business

#452

Post by marcosdumay »

jacobr1 wrote: post #403
illumin8 wrote: post #376

Earlier quoted context omitted.

I'm pretty sure this would be considered a deceptive business practice by most courts of law. You can't just straight up lie about the terms of a business agreement - i.e. if you say you've evaluated a customer's creditworthiness but you really haven't I think there is a very good argument that any agreement was not made in good faith, however, Stripe's ToS probably requires mandatory arbitration, etc, so I'm not sur…

Arbitration doesn't mean no-recourse or bias toward to the provider.

Arbitration does absolutely means a bias to the party that requires it. You can't have a long-term relationship with a company and not acquire some bias.

Re: Stripe has decided to nuke my entire business

#453

Post by tobinfekkes »

We are in the process of moving off of Stripe Connect (with 60+ accounts) for this very reason. It's one big black box. They are a liability, not a service.

Very sorry to hear of your situation, but it's because of people sharing stories like this that we've been planning our migration away to a more responsible (and responsive) processor for awhile.

It's a ton of work to build new integrations, migrate data, and disrupt customers. Which tells you just how bad of an experience it is with Stripe when we'd rather spend a 6-8 months moving away.

Re: Stripe has decided to nuke my entire business

#454

Post by hnburnsy »

A little off topic but just like the suggestions here to have multiple payment processors, in your personal life have multiple checking accounts at different banks. Many banks are shutting down accounts for no apparent reason most likely due to AML and KYC. Your money can be tied up and you have no way to pay bills or get cash.

Re: Stripe has decided to nuke my entire business

#455

Post by brightball »

hinkley wrote: post #213
brightball wrote: post #167

Earlier quoted context omitted.

Under ChargeBee's terms, they must provide you with your data for up to 120 days following any termination. So there's that at least. > 7.2.3. Data Export Following termination or expiration of a Subscription, We will retain that Account’s Service Data for one hundred twenty (120) days from such date of termination or expiration (“Data Retention Period”). I mean, ideally we need an open source PCI compliant equivalen…

SLAs only entitle you to a refund, not compensation for lost income. If you’re not making at least four times as much off a service as you pay for it, you really need to think about why you use that service. Power can go out. Promises from the power company don’t fix that. Only backup power does.

Point here was that you’d hypothetically be able to get all of your data to setup an alternative if you had to, rather than just being shut down and waiting for them to fix it.

Re: Stripe has decided to nuke my entire business

#456

Post by tharne »

encryptluks2 wrote: post #399
jtbayly wrote: post #346

Earlier quoted context omitted.

What company!!!??? Please don't just leave all of us hoping we aren't the unlucky guy that is using that company.

I wouldn't be surprised to find it is most insurance companies. The insurance industry as a whole is seriously messed up and congress seems unwilling to do anything about it.

> I wouldn't be surprised to find it is most insurance companies.

In the U.S. I guarantee you that most insurance companies are NOT doing this. What this company is doing is called "Bad Faith" in insurance jargon. And the penalties for this sort of behavior are enormous, and can even include the possibility of the company losing its license to sell insurance in a particular state.

> The insurance industry as a whole is seriously messed up and congress seems unwilling to do anything about it.

Congress doesn't do much with insurance because insurance in the U.S. is regulated at the state level, not the federal level.

Re: Stripe has decided to nuke my entire business

#457

Post by engineeringwoke »

tmpz22 wrote: post #218

Just a reminder while this may seem like a Good vs. Evil clash between OP and Stripe we will never have all the facts. OP does not enumerate their business model or go into details about their customers and transactions. Stripe absolutely should not share internal customer information. While we may see Stripe chime in the thread, and make summary judgements, we will almost surely not have total visibility (and thus c…

Sure, but the government should legislate that companies be given a reason and not stonewall customers. The absurdity of allowing companies to giga-scale and not have real customer service is just dumb and bad for society

Re: Stripe has decided to nuke my entire business

#459

Post by vkou »

naasking wrote: post #422
brk wrote: post #158

Earlier quoted context omitted.

IMO it is not the "you must be a fraudster" logic as much as "we have enough other customers that we can burn you without much worry of repercussions". As much as I hate government intervention in business, it really seems like there needs to be a way to force companies to actually be direct, accessible, and reactive in cases like this. I went through something similar with Venmo randomly locking my account after I r…

Making competition easier in this space is another way to solve it. If Stripe had 15 competitors all of whom were API compatible so you could switch in 5 minutes, any bad PR would drive customers away in droves. Government has made entry to this space hard which is why there aren't enough competitors, so they're really the source of the problem.

Government hasn't made entry to this space hard, the banks that Stripe partners with have. Because they don't want to deal with high-risk transactions. They are the gatekeepers here, and Stripe has to bend over backwards to make them happy. They'd much rather burn individual customers, than jeopardize their entire business.

Re: Stripe has decided to nuke my entire business

#460

Post by donmcronald »

btilly wrote: post #334
vertis wrote: post #87

The worst part about these type of cases is not being able to get a straight answer. There is a whole subset of big tech that has taken the "you must be a fraudster therefore we can't unfuck the situation" approach to customer support. It's an arms race with fraudsters that eventually sucks in legitimate businesses.

The problem is that Stripe has identified you as possibly being a fraudster. Any information that they give you about what they suspect and why is information that a real fraudster could use next time to try and evade the detection algorithms. It is like this with virtually any security system. Adding feedback you can use for debugging also makes the system much easier to compromise.

How many fraudsters are maintaining a business relationship for 6 years? 6 years! And the OP doesn't even get a courtesy phone call before termination. That's messed up.
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