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What happens when stripe account gets blocked?

Discussion in 'BlackHat Lounge' started by GrumpyBoy, Jul 20, 2017.

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Will I lose all my money if my stripe account gets blocked?

  1. Yes

    100.0%
  2. No

    0 vote(s)
    0.0%
  1. GrumpyBoy

    GrumpyBoy Regular Member

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    hello everyone, i have started a dropshipping store on shopify. I am from india and stripe is not available here. And other payment gateways available in India doesn't support dropshipping business model. So I have to use only PayPal Express Checkout. But then I read @nihalsad guide about dropshipping. He mentioned that you can use Payoneer Virtual US Bank account. I got approved on payoneer and got a US bank account. I entered it and stripe worked.

    My question is, if my stripe account gets blocked due to some reason, will i lose all my money?
     
  2. randybishop

    randybishop Elite Member

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    probably.
     
  3. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    I do not know about Payoneer but Stripe may hold your money for a period of time but will eventually give it to you if there are no chargebacks.
     
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  4. BusinessSmack

    BusinessSmack Jr. VIP Jr. VIP

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    We lost BrainTree once, Paypals version of Stripe. What happened was they put all funds on hold for 6 months. Any dispute would add another 3+ months to the hold. After the hold expires the remaining funds get sent to our bank on file at the time. So eventually we will receive those funds. Eventually.
     
  5. royserpa

    royserpa Jr. VIP Jr. VIP Premium Member

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    90 days is the word.

    They MIGHT hold your money up to 90 days, and they will deposit the amount left (after chargebacks) to your bank account.