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Stripe is about to refund €147k worth of payments to my all of my customers

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Re: Stripe is about to refund €147k worth of payments to my all of my customers

#151
I am perpetually confused by these threads. If I was facing withheld cashflow in the tens of thousands, I'd have a lawyer ready to go. But here you are, like the other threads, posting on HN about it.

You also appear —as other threads have— to have carried on pushing money into this black hole long after the initial problems. If a payment processor doesn't start giving me my money, I stop using them.

As others have said, stop double-counting your losses. If you send out stock that cost you $100k, expecting $150k, your loss isn't $250k. You have lost $100k and some marketing. You might argue that you've lost potential sales too but if you try to write those off in your accounts, I can't imagine a tax authority that isn't going to audit you back to the stone-age for that sort of stunt.

Honestly the more throwaways I see making these accusations of Stripe, the less I believe them. If nothing else, you're an idiot for not limiting them damage earlier.

Re: Stripe is about to refund €147k worth of payments to my all of my customers

#152
UPDATE : Stripe has just closed our account without further notice and refunded the whole balance.

When we go to our dashboard we get a query saying "Unable to load this view", so I guess that's €250.000,00 that have just vanished.

Please consider if you want to use Stripe for your business.

Re: Stripe is about to refund €147k worth of payments to my all of my customers

#153
post #40

Bring them to court. It's enough money to make it worth the risk.

Bringing to court will take another $100k, probably tied up for years.

But the legal office could talk to the finance office and tell them they have little hope to win, so they release the funds before even getting started.

Re: Stripe is about to refund €147k worth of payments to my all of my customers

#154
post #44

This is the Nth horror story I've seen about stripe. It's the new Google. Good docs and a sane technical API make my life as a dev easier. But I'd rather use a payments vendor that I can trust not to deep 6 my company a year later. Any recommendations? Ideally they still have good docs and a sane API.

This is heavy confirmation bias. You look at the 2-3 bad stories posted on HN every month but ignore the hundreds of thousands of companies using Stripe that don't have any issue.

When the bad story is somebody losing an amount equal to your life savings the 100s of success stories don't seem as important.

Re: Stripe is about to refund €147k worth of payments to my all of my customers

#157
post #8

Here's the kicker when you had merchant account with an "evil" old school bank you could just walk over and talk to human.

Yes, but evil old school bank likely would not process 'card not present' transactions at all.

Of course they do. Their APIs are just way worse and documentation can be really bad as you have to connect to decades-old systems. But once it's up and running they will honor their agreement.

Re: Stripe is about to refund €147k worth of payments to my all of my customers

#160
post #145

Earlier quoted context omitted.

And Stripe isn't a Merchant of Record. They even have a specific product to overcome this, Stripe Tax.

According to all of the information the OP has given they are in this case. If you have evidence to the contrary I'm all open to it but it does not apply here unless you have information that contradicts the OP in a believable way. Also: note that Stripe has all kinds of technical countermeasures in place to detect money laundering and other terms violations and it may well be that everything looks totally above boar…

The evidence in the services that Stripe provide, they do not handle taxes for you. They act as a payment gateway provider with some software add-ons.
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