4 ms·

Tell HN: Stripe Took Our $159k

24 points by neginshopper 5y ago

We created a marketplace called bringshopper.com where we bring shoppers to newly started businesses. We had a call with their sales team and as they suggested we used Stripe Standard Connect and direct charges. When we bring shoppers successfully we charged higher application fees to cover our costs and there was no upfront costs We even built feature to cover negative balances of connected accounts by cutting their ad budget And one day Stripe blocked our account, and disabled all our connected accounts and said they WILL NOT RELEASE OUR FUNDS AND WILL USE TO REFUND ALL CUSTOMERS. Now there are multiple things: 1) They didn't refund anyone as we are a platform account we have no charges under us to refund 2) They didn't release funds either They TOOK OUR FUNDS, $159k to be exact They can't refund customers of all connected accounts and use our funds as they advertise in stripe.com/connect/pricing that Stripe Standard Connect is not responsible for losses, disputes, refunds of connected accounts There is no charges to be refunded or disputed and they simply took our funds How is this even legal? Anyone had similar experience or anyone can help? Our company is struggling here due to this Our account id is acct_1K7t9JC4s1I9dR5f Updates: Edwin reached out in other thread I shared saying they can't support our business but still didn't say anything about release of our funds I want to know when will we receive our money

jacquesm 5y ago
Of course Stripe can refund. That money came from somewhere, it can be sent back to where it came from. Also: you had your run when you posted this the first time: https://news.ycombinator.com/item?id=30705500 https://news.ycombinator.com/item?id=30705500
- neginshopper 5y ago
  They flagged it for writing this as Show HN instead of Tell HN
- neginshopper 5y ago
  We collected application fee from each sale connected accounts made. But due to this, charges are on connected accounts not under platform. And platform that uses Stripe Standard Connect with direct charges is not responsible for refunds/disputes of connected accounts. If they refund all transactions of connected accounts, that doesn't affect our balance as charges are not under us and we are not responsible. You can read about this here: stripe.com/connect/pricing
djbusby 5y ago
Did they say why they can't support you? Also curious how you accumulated these funds if there is nothing to refund? Where did that money come from. I'm sure Patrick will be here soon to shed light.
- neginshopper 5y ago
  I really hope Patrick joins and helps, I would be very surprised ! We collected application fee from each sale connected accounts made. But due to this, charges are on connected accounts not under platform. And platform that uses Stripe Standard Connect with direct charges is not responsible for refunds/disputes of connected accounts. If they refund all transactions of connected accounts, that doesn't affect our balance as charges are not under us and we are not responsible. You can read about this here: stripe.com/connect/pricing
bognition 5y ago
I’m really sorry about this situation and hope you are able to find resolution. The problem with a lot of these platforms is they aren’t your funds until they hit your bank account. Early vendors on eBay saw this shit all the time with PayPal and it hasnt really ever been fixed. The answer is legislation protecting the users of these service and guaranteed due process in the event that the service provider suspects fraud.
- neginshopper 5y ago
  Does it mean they have the full right never pay me ans I can't sue and get my funds? My lawyer is suggesting sueing card brands in federal court for allowing Stripe holding our funds for no reason
  - jacquesm 5y ago
    Either sue or accept their ruling but stop polluting HN this is not 'Stripe customer support'.
    - neginshopper 5y ago
      Their support is not answering anymore. I contacted them everyday for last 30 days. Plus $159k stuck in my account is very important topic
      - jacquesm 5y ago
        That's all fine and good but this is NOT Stripe support, this is a public forum and you are barking up the wrong tree. You need to go talk to a lawyer.
        neginshopper 5y ago
        They took our funds, we don't have enough funds to be able to afford the full lawsuit
rvz 5y ago
Oh dear. That is quite brutish of them. Try contacting the CEO of Stripe.
- neginshoppers 5y ago
  https://news.ycombinator.com/item?id=28085706 https://news.ycombinator.com/item?id=28085706 I am not the only one
nathanaldensr 5y ago
The legal system is a more appropriate forum for this complaint.

24 points by neginshopper 5y ago

jacquesm 5y ago

Of course Stripe can refund. That money came from somewhere, it can be sent back to where it came from. Also: you had your run when you posted this the first time: https://news.ycombinator.com/item?id=30705500 https://news.ycombinator.com/item?id=30705500

neginshopper 5y ago
They flagged it for writing this as Show HN instead of Tell HN
neginshopper 5y ago
We collected application fee from each sale connected accounts made. But due to this, charges are on connected accounts not under platform. And platform that uses Stripe Standard Connect with direct charges is not responsible for refunds/disputes of connected accounts. If they refund all transactions of connected accounts, that doesn't affect our balance as charges are not under us and we are not responsible. You can read about this here: stripe.com/connect/pricing

djbusby 5y ago

Did they say why they can't support you? Also curious how you accumulated these funds if there is nothing to refund? Where did that money come from. I'm sure Patrick will be here soon to shed light.

neginshopper 5y ago
I really hope Patrick joins and helps, I would be very surprised ! We collected application fee from each sale connected accounts made. But due to this, charges are on connected accounts not under platform. And platform that uses Stripe Standard Connect with direct charges is not responsible for refunds/disputes of connected accounts. If they refund all transactions of connected accounts, that doesn't affect our balance as charges are not under us and we are not responsible. You can read about this here: stripe.com/connect/pricing

bognition 5y ago

I’m really sorry about this situation and hope you are able to find resolution. The problem with a lot of these platforms is they aren’t your funds until they hit your bank account. Early vendors on eBay saw this shit all the time with PayPal and it hasnt really ever been fixed. The answer is legislation protecting the users of these service and guaranteed due process in the event that the service provider suspects fraud.

neginshopper 5y ago
Does it mean they have the full right never pay me ans I can't sue and get my funds? My lawyer is suggesting sueing card brands in federal court for allowing Stripe holding our funds for no reason
- jacquesm 5y ago
  Either sue or accept their ruling but stop polluting HN this is not 'Stripe customer support'.
  - neginshopper 5y ago
    Their support is not answering anymore. I contacted them everyday for last 30 days. Plus $159k stuck in my account is very important topic
    - jacquesm 5y ago
      That's all fine and good but this is NOT Stripe support, this is a public forum and you are barking up the wrong tree. You need to go talk to a lawyer.
      - neginshopper 5y ago
        They took our funds, we don't have enough funds to be able to afford the full lawsuit

rvz 5y ago

Oh dear. That is quite brutish of them. Try contacting the CEO of Stripe.

neginshoppers 5y ago
https://news.ycombinator.com/item?id=28085706 https://news.ycombinator.com/item?id=28085706 I am not the only one

nathanaldensr 5y ago

The legal system is a more appropriate forum for this complaint.