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stripe and chargeback question, can the bank close your account?

Discussion in 'Business & Tax Advice' started by nohnoh, Jul 27, 2015.

  1. nohnoh

    nohnoh Newbie

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    Has anyone delt with chargebacks and stripe?


    I'm assuming they will close your account if too many build up. In addition, since the stripe account has banking account information like routing and account numbers, will the bank also take action? Can the bank close your account?


    I am selling vero items.
     
  2. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    A bank will close an account for strange, unusual or inappropriate activity; e.g. wires going to and coming from certain countries, too many checks bouncing, deposited checks not legitimate but there should be no issue if you and Stripe are at odds there.

    As long as the money that Stripe is charging back is in your account to go to them when they request it there should be no issues.
     
  3. uʍouʞu∩ǝɥ┴

    uʍouʞu∩ǝɥ┴ Registered Member

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    Just like any other payment processor STRIPE will close your account if you go over the aloud chargeback %..
     
  4. HostStage

    HostStage Jr. VIP Jr. VIP

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    I believe the chargeback rate shall not exceed something around 3% or you would have your stripe account closed. That's the main reason why you can get your account closed.
    They don't communicate with banks at all. According to your activities they may contact your governement though using your personal information.
    You will be able to withdraw your funds and they will give you a delay for you to sort things out.