Anyone use stripe?

DrKen · Apr 22, 2021

So we just got our account closed saying "our business is high-risk and most likely reek up in charge backs".

Funny thing is we are tax filing firms and some of our client want to pay via monthly plan. So we absolutely have no charge back history and our business is as legit as it can be and our partners are all CPAs. Even our local bank approved our bank accounts with CC which has lower risk tolerance than Stripe and we have go for physical face to face interview with all the original supporting docs before we can open company bank account etc.

We do all our AML and KYC before we accept our client, our contract with client are iron clad because we ask our lawyer to draft it for us.

We even offered Stripe to put our fix deposit in stripe account to cover their risk level BUT it was not enough for STRIPE. It was really disappointing how we do everything right yet still they close our account. Turns out we are not the only one!

So if you guys have similar disappointing experience, please leave 1 star review at https://www.trustpilot.com/review/stripe.com ugh

and anyone has a suggestion on payment gateway that supports subscription model?

Crewchief007 · Apr 22, 2021

Use HoneyBook, problem solved.

Or, you could take a chance with PayPhal.

theeyeinside · Apr 22, 2021

They are garbage

If you get a chargeback or YOU cancel an order because you suspect fraud, THEY KEEP THE FEE

Just use a Wordpress WooCommerce shopping cart hook to Authorize.Net. Authorize.net sweeps into your bank account daily

End of problem

Sincerely,

The Eye

DrKen · Apr 22, 2021

Crewchief007 said:
Use HoneyBook, problem solved.

Or, you could take a chance with PayPhal.

theeyeinside said:
They are garbage

If you get a chargeback or YOU cancel an order because you suspect fraud, THEY KEEP THE FEE

Just use a Wordpress WooCommerce shopping cart hook to Authorize.Net. Authorize.net sweeps into your bank account daily

End of problem

Sincerely,

The Eye

Thanks guys!

Is there any payment subscription gateways that are available either in UK, Netherland, China, Hong Kong. That's where our branch are located at.

MisterF · Apr 22, 2021

DrKen said:
Thanks guys!

Is there any payment subscription gateways that are available either in UK, Netherland, China, Hong Kong. That's where our branch are located at.

Have a look at WorldPay if you're in the UK, they'll assign you a business manager who will come out to meet you ( pre Covid )

SpanishFlu · Apr 22, 2021

I've never used Stripe before, but I am disappointed in big companies like Stripe. They do whatever they want and You can't do anything.

Topiano · Apr 22, 2021

DrKen said:
We even offered Stripe to put our fix deposit in stripe account to cover their risk level BUT it was not enough for STRIPE. It was really disappointing how we do everything right yet still they close our account. Turns out we are not the only one!

You could have read their restricted business policy before opening one. This would have safe you a lot of hassle.

https://stripe.com/restricted-businesses

clark123 · Apr 22, 2021

Topiano said:
You could have read their restricted business policy before opening one. This would have safe you a lot of hassle.

https://stripe.com/restricted-businesses

We applied our business account from Hong Kong with stripe, still got rejected so no matter whether its a restricted country or not, your fate is still sealed lol. Depends on those review team mood, I guess.

I guess op got really bad luck or shitty review staff reviewing his account and there is no way to appeal it. Pretty much dictatorship

Topiano · Apr 22, 2021

clark123 said:
We applied our business account from Hong Kong with stripe.

Are you working with restricted business too ? It’s always not about the supported country but model of business you run .

clark123 · Apr 22, 2021

Topiano said:
Are you working with restricted business too ? It’s always not about the supported country but model of business you run .

No for us, we have a real physical store in HK and we also sell our product online. So just normal brick and mortar shops with the online shops not sure how risky is this business model.

Topiano · Apr 22, 2021

clark123 said:
No for us, we have a real physical store in HK and we also sell our product online. So just normal brick and mortar shops with the online shops not sure how risky is this business model.

What niche is that ? Most of the unsupported business listed on there page often falls under the B&M model.

clark123 · Apr 22, 2021

Topiano said:
What niche is that ? Most of the unsupported business listed on there page often falls under the B&M model.

just normal canned food, frozen food, and snacks.

Topiano · Apr 22, 2021

clark123 said:
just normal canned food, frozen food, and snacks.

I don’t see you having a problem.

clark123 · Apr 22, 2021

Topiano said:
I don’t see you having a problem.

I know rite!! we were so shocked like op lol and just said fked it and moved on lol

Topiano · Apr 22, 2021

clark123 said:
I know rite!! we were so shocked like op lol and just said fked it and moved on lol

OP is running a business model enlisted in their list of restricted businesses

Keep Up · Apr 22, 2021

Stripe is impossible to work with. Once they decide to close your account and hold your funds for 90 days, theres nothing you can do to convince them otherwise..

DrKen · Apr 22, 2021

MisterF said:
Have a look at WorldPay if you're in the UK, they'll assign you a business manager who will come out to meet you ( pre Covid )

Thanks will look into it through UK branch but they accept international payments rite?

SIM-3089037 said:
I've never used Stripe before, but I am disappointed in big companies like Stripe. They do whatever they want and You can't do anything.

pretty much yeah, only thing we can do is bring them bad rep.

Topiano said:
OP is running a business model enlisted in their list of restricted businesses

WOW! really? tax filing service is restricted business? Would you please link me to their list where it says because I just went through their list and cant find this service fall into any of the their restriction list.

meannn · Apr 22, 2021

I have been using but lost a lot of accounts there. They are the easiest company to ban customer. Sad.

DrKen · Apr 23, 2021

meannn said:
I have been using but lost a lot of accounts there. They are the easiest company to ban customer. Sad.

ah it seems its definitely not for business here to stay because the can pretty much terminate your account for no reason. Imagine I got 20+ customers on monthly subscription each $1K+ and suddenly stripe terminate your account woa!! cant imagine

augustwu · Apr 23, 2021

I lost two of my accounts recently
There is still funds in my account
I don’t know where the funds will go to

Anyone use stripe?

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