My Stripe account got blocked - what will happen to my money?

I

ImNotYourToy

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Hey guys,
I opened account on Stripe.com and they blocked my account after 2 days of using, saying my business is a "high risk" for them and that they don't want to work with me. They also say something about refunds or whatever, but I'm sure i didn't had even one chargeback from even 1 customer.

Anyhow, I have about 1,200 Euro in my account. Are they going to send refunds to all of my customers and empty my account? Are they going to hold the money and for how long if yes? will they force me to confirm my account with an ID to get the money (even after the "frozen period" of the money is over)?

Please give me only based-on-experience answers, and not just estimations.
Thank you!
 
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By the way, this is the email they sent me while blocking my account:
"Our systems recently identified charges that appear to be unauthorized by the cardholder, meaning that the owner of the credit or debit card did not consent to these payments. This unfortunately means that we will no longer be able to accept payments for XXXXXXXX.

Refunds will be issued in 5–7 business days, although they may take longer to appear on the cardholder's statement. Please refer to your dashboard for a list of the charges to be refunded[1].

We're sorry that we won't be able to offer you service going forward, but our restrictions here are firm. If you believe that we've made a mistake, we'd like to remedy the situation as quickly as possible. To help us effectively revisit your account, please complete the following form: ..."
 
Usually, if they are going to hold your money they will tell you in the email if they do decide to hold it, they usually keep it for 90 days. and the only way around that is to hire a lawyer that knows his shit when it comes to payment processing. Being as they only have 1200 you would probably just want to wait it out if they do end up holding it. make sure to check your Scheduled payouts page and see if they canceled any future payouts or if they still show that they are on the way
 
Usually you will get your money back
If they refuse to give you your money, contact a lawyer
 
wilsjac1 said:
Usually, if they are going to hold your money they will tell you in the email if they do decide to hold it, they usually keep it for 90 days. and the only way around that is to hire a lawyer that knows his shit when it comes to payment processing. Being as they only have 1200 you would probably just want to wait it out if they do end up holding it. make sure to check your Scheduled payouts page and see if they canceled any future payouts or if they still show that they are on the way
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So the option that they will refund all of my customers with the money after blocking my account isn't exist?
Also, after 90 days period will I get the money automatically or they will hold it until I confirm my identity?
 
They will return you the money after a period, stripe don't hold the blocked account funds for a long time
 
What were you selling that was deemed "High risk" ?
 
onlywin said:
What were you selling that was deemed "High risk" ?
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I was curious about that too.
From the email you showed, it seems you got chargebacked or the customer complained about an unauthorized transaction. Do you know what happened ?
 
No one in this thread has given you the correct answer (unsurprisingly). If they've stated in the email they will refund your charges, that's exactly what they will do. They will start reversing the payments over the next x days to your clients.

Something about your activity has flagged on their system and after manual review they've decided to completely shut you down.

There's really no point in fighting this in my opinion, especially over a relatively small amount. Any legal fees you incur will likely be significantly higher and your chances of winning are all but zero. Stripe are a multi-billion dollar company and are very well covered when it comes to this shit
 
onlywin said:
What were you selling that was deemed "High risk" ?
Click to expand...

You do realize that's just a generic term they use. It can mean absolutely anything. He could have been selling completely legitimate low risk products, but something else on his account was deemed unacceptable to them. They won't reveal jack to you about their security procedures and it's pointless asking
 
Fight for your money. You should always get more information and not just give up on your money like that.

While you may not have success - at least you know you tried your best to recoup the money. It's worth spending an hour or two on the phone or through email even if your chance is just 5%.
 
UPDATE: Those scammers indeed refunded all of my customers, while all of them already got the service. Not only I lose the money the customers paid me, and the effort and time of work to provide their service, also Stripe caused me losing money to supply the service for the clients! It's insane! How can they legaly do that?! I'm shocked. For sure will fight for what they did.
 
ImNotYourToy said:
UPDATE: Those scammers indeed refunded all of my customers, while all of them already got the service. Not only I lose the money the customers paid me, and the effort and time of work to provide their service, also Stripe caused me losing money to supply the service for the clients! It's insane! How can they legaly do that?! I'm shocked. For sure will fight for what they did.
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they did the same to me, stripe used to be good but now it has shitty practices
 
ImNotYourToy said:
How can they legaly do that?!
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The email you quoted in post #2 explained that:
"Our systems recently identified charges that appear to be unauthorized by the cardholder, meaning that the owner of the credit or debit card did not consent to these payments."

The most likely issue is that your customers were using stolen cards, which is fairly common on newly established sites with no fraud prevention.
 
Stavro said:
The email you quoted in post #2 explained that:
"Our systems recently identified charges that appear to be unauthorized by the cardholder, meaning that the owner of the credit or debit card did not consent to these payments."

The most likely issue is that your customers were using stolen cards, which is fairly common on newly established sites with no fraud prevention.
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So why not just refund the cards that had chargebacks? Unless ALL of his revenue were charged back? Seems..unlikely no?
 
adverts said:
So why not just refund the cards that had chargebacks? Unless ALL of his revenue were charged back? Seems..unlikely no?
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The first chargeback would have triggered a manual review, and during that review they likely found evidence of the remaining cards being stolen as well.
 
They've clearly mentioned in the mail they will refund the customers. You're not getting your money back, unfortunately.
 
Stavro said:
The first chargeback would have triggered a manual review, and during that review they likely found evidence of the remaining cards being stolen as well.
Click to expand...

That's fine. I just don't think PayPal, Stripe, or any other payment processor would refund *everything* unilaterally within evaluating each case because they're out of their 2.9% + whatever commission as well then they refund.

I would just be surprised if 100% of my customers were all using stolen credit cards.
 
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