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Stripe increasing "instant payout" fees by 50%

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Re: Stripe increasing "instant payout" fees by 50%

#81

Post by withinboredom »

ffpip wrote: post #42
BillyTheKing wrote: post #34

Earlier quoted context omitted.

for Fintechs who're using Stripe as a way to allow users to purchase stock/remittances/e-wallet balances etc. instant payouts are very important since in most cases people who load with stripe also consume those funds on the platform instantly

Won't they have a rolling period, since a lot of customers just add funds and might not use it? So you can use the balances from the people who added money 2 days ago, today.

In many countries (including most states in the US), comingling funds between users is how you go to "jail" as it is usually a criminal offense.

see: Money Transmission laws

Re: Stripe increasing "instant payout" fees by 50%

#82

Post by immibis »

Gasp0de wrote: post #77
immibis wrote: post #48

Earlier quoted context omitted.

It's apparently lower than "I made a raycaster in 256 bytes" and higher than "I got banned from Stack Exchange for not supporting Israel". I can't really tell where the bar is.

I can't see where the original post links to, but if what the commenter said is true, you got banned not for "not supporting Israel" but instead for "supporting the slaughter of 200 teenagers".

Well, yes. That's how this works. In politics, nobody ever says they are punishing you for $obviously_insane_thing_to_punish_someone_for - they make a more plausible excuse to accuse you of. That woman arrested in Russia for holding a blank sign wasn't arrested for holding a blank sign - she was arrested for attempting to destroy Russia or something like that.

But this is too far off-topic. The point is, that was evidently below the bar of what's allowed on Hacker News even though I'd think as many people would have wanted to know what's going on on SE, as want to see a cool raycaster.

Re: Stripe increasing "instant payout" fees by 50%

#83

Post by joshstrange »

qmarchi wrote: post #2

Anyone have a list of providers that use Stripe Connect?

I’m confused by your question. They mention Connect in the FAQ but this only applies to instant payouts, honestly it seems more confusing that they mention Connect at all in this context. What are you getting at or trying to figure out with your question?

I’m interested because my business used Stripe Connect but this change seems to have zero change for me. If businesses want instant payouts they can decide that on their own and if they want to eat the fee, it doesn’t matter to me.

Re: Stripe increasing "instant payout" fees by 50%

#84

Post by Yujf »

Gasp0de wrote: post #78
sitzkrieg wrote: post #55

Earlier quoted context omitted.

lets run away from math if it sounds bad!

Ok so if something previously was free and now costs 1c per transaction, you would think "Stripe increasing price infinitely" would be a good title? Just because it is true that doesn't make it a good title. A good title should create a realistic expectation of the article content.

No that would not be good. I agree that you should choose the correct way to represent something.

But here a 50% increase creates a realistic expectation to me.

Re: Stripe increasing "instant payout" fees by 50%

#86

Post by southernplaces7 »

Yawn. In some countries at least, (mine for example) Paypal does the same. If I get a payment (and let me add that I detest paypal but, such are the choices of some employers), I can wait 24 to 48 hours for my money, or I can get it instantly at any time Monday to Friday between 6:15 am and 10 pm, but at an additional cost of roughly 3 dollars. Bear in mind that this is on top of their atrocious, thieving obligatory exchange rates and any other fees they tack onto payments sent to you.

Of course I'm nearly certain that sending me that money instantly costs Paypal nothing, but enshittification creeps into all things, sort of like the dust created by dead skin and human trash. It permeates. Though in Paypal's case, shitty service has been a byword for decades already.

Edit: when occasionally receiving payments in crypto on the other hand, I get charged minimal fees, can convert to my local currency at essentially market exchange rate, and can have the money transferred to my actual bank account at any time 24/7 for free. Yes yes, HN hates crypto and blah blah, but outside the bubble, there are people who find these things useful.

Re: Stripe increasing "instant payout" fees by 50%

#87

Post by 0wez »

pentagrama wrote: post #52

A more honest title to me: Stripe increasing "instant payout" fees from 1% to 1.5% on US Current title: Stripe increasing "instant payout" fees by 50%

exactly. so tired of people saying: huehuehue this is correct, its just 50% comon bro the only reason i clicked is because i was like: wtf you need to pay 50% fee of the 100%?

i dont care about anyone trying to say: huehehue thats how its written. no its not.

but yeh i guess ppl rather focus on shitposts and talk endlessly

Re: Stripe increasing "instant payout" fees by 50%

#88

Post by 0wez »

0wez wrote: post #87
pentagrama wrote: post #52

A more honest title to me: Stripe increasing "instant payout" fees from 1% to 1.5% on US Current title: Stripe increasing "instant payout" fees by 50%

exactly. so tired of people saying: huehuehue this is correct, its just 50% comon bro the only reason i clicked is because i was like: wtf you need to pay 50% fee of the 100%? i dont care about anyone trying to say: huehehue thats how its written. no its not. but yeh i guess ppl rather focus on shitposts and talk endlessly

and even on a hacker site its just a shame for ppl actually defending this title. its #1 phishing/SE method to trick people

Re: Stripe increasing "instant payout" fees by 50%

#90

Post by throwaheyy »

withinboredom wrote: post #81
ffpip wrote: post #42

Earlier quoted context omitted.

Won't they have a rolling period, since a lot of customers just add funds and might not use it? So you can use the balances from the people who added money 2 days ago, today.

In many countries (including most states in the US), comingling funds between users is how you go to "jail" as it is usually a criminal offense. see: Money Transmission laws

That by itself is not commingling. Money is fungible, and https://en.m.wikipedia.org/wiki/Float_(money_supply) is a well established and widely used concept.
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