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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

#481

Post by wtetzner »

iLoveOncall wrote: post #138
mikece wrote: post #125

Earlier quoted context omitted.

I was banned by PayPal once because I didn't sign up with an SSN or EIN and proceeded to make enough to trigger a review because they couldn't file a proper 1099-K on me. This was an oversight on my part and I offered to correct the situation by submitting any documentation they needed -- photo ID, SSN, prior year tax returns to PROVE that I was paying tax on the revenue coming from PayPal, the new LLC and EIN I had…

No, not legitimate at all. PayPal had banned me because I was under 18 when I opened my account, they then allowed me to open a new one (right after this one got suspended) and it has been working fine without any issue since then (10 years+). Stop doing shady stuff.

> Stop doing shady stuff.

If PayPal requires an SSN or EIN, why do they even allow you to create an account without one?

Re: Stripe has decided to nuke my entire business

#482

Post by devwastaken »

rsync wrote: post #451
redeeman wrote: post #133

Earlier quoted context omitted.

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.

In the contract with stripe I can guarantee there's a "we can do anything we want" clause. The solution to these issues is functional government so we can regulate out that language and hold entities responsible.

Re: Stripe has decided to nuke my entire business

#483

Post by rglover »

innocentoldguy wrote: post #194

Stripe did something similar to our company so we switched to Parallel Economy ( https://www.paralleleconomy.com ). We've been happy with it so far.

Do they have API docs you're aware of? Started the application process but they want to lock you into a monthly fee/termination fee scheme without really explaining how their service works.

Re: Stripe has decided to nuke my entire business

#484

Post by [deleted] »

ddalex wrote: post #331
sudden_dystopia wrote: post #287

Earlier quoted context omitted.

This is how an auto insurance company I used to work for wrote policies. They didn’t underwrite them until there was a claim and then they would rescind the policy and deny the claim when they found a “material misrepresentation”. They called it underwriting on the back end.

This seems like straight fraud.

[deleted]

Re: Stripe has decided to nuke my entire business

#486

Post by encryptluks2 »

ceejayoz wrote: post #434
encryptluks2 wrote: post #413

Earlier quoted context omitted.

I do believe that there could be an argument that discrimination on hair color could fall under national origin or color: Under 29 CFR § 1606.1, national origin is defined as but not limited to: An individual's, or his or her ancestor's, place of origin; or because an individual has the physical, cultural or linguistic characteristics of a national origin group.

With the current court, almost certainly not; they're not inclined to expand the definition of "disparate impact" like that. If a future Court ever decides hair color denotes national origin, fall back to a different example of your choosing; people with tattoos, Mac users, viola players.

Hair color is something you're born with and is a genetic mutation based off lineage and other factors. I don't think they directly corelate and it wouldn't necessarily even make it to the Supreme Court. Most businesses aren't going to appeal to say that they can discriminate based on hair color nor willingly admit to doing so, nor would they ever likely make the argument that they did it and that it is okay.

Re: Stripe has decided to nuke my entire business

#487

Post by encryptluks2 »

tharne wrote: post #456
encryptluks2 wrote: post #399

Earlier quoted context omitted.

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…

LOL, wait until you hear about ERISA and learn that everything you just said is wrong for most employee insurance plans and that you can't even get damages when they act in bad faith.

Re: Stripe has decided to nuke my entire business

#488

Post by treis »

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.

It's half true. There's not really underwriting for auto policies like there is with life or home insurance. You register your rating rules with the state and anyone who qualifies gets a policy. All the risk calculations and pricing are just look up tables and done automatically.

Now if you are in line for a large payout the insurance company will definitely review your application to see if you lied. Significant lies will get your policy cancelled and no payout. So don't lie on any insurance applications.

Re: Stripe has decided to nuke my entire business

#489

Post by phpthrowaway99 »

rglover wrote: post #467
phpthrowaway99 wrote: post #446

Stripe has an office in San Francisco. I definitely don't recommend trying to go inside, but I really wish people would organize protests at these business locations. If hundreds of people protested outside stripe for canceling customers with zero communication, maybe the employees would notice.

While I typically support the "punk rock" approach, this isn't good to suggest. All it takes is one unstable person going cocoa puffs for someone to get hurt or something bad to happen.

Do you feel this way about all protests? Or just ones based around protecting people's incomes?

Re: Stripe has decided to nuke my entire business

#490

Post by tdeck »

sschueller wrote: post #278
imdsm wrote: post #128

Stripe CEO Patrick Collison: "What is happening?" => basically, a major uptick in attempted fraud over the first half of this year that necessitated making our systems stricter. But have an idea for a structural fix here. More soon. (DM me if you've had problems on this front.) https://twitter.com/patrickc/status/1550136569482252289

Why is it still possible to commit so much fraud with credit cards? Where is the second factor for CC use online or some other more secure way? When I use my VISA chip and pin credit card online I sometimes depending on merchant/amount/etc have to approve the transaction via the credit card app. Should this be the defacto standard?

It's because merchants tolerate a certain amount of fraud loss in order to reduce friction for the customer when making a payment. The same reason nobody ever checks you ID when you pay with a credit card in a store (unless you're in Vegas where they seem to do that, for some reason).
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