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> That's $12,000 of donations people have made that we can't access. So what happens to this money? They can't possibly just get to keep it and use it to buy b
by rdtsc 3y ago
> That's $12,000 of donations people have made that we can't access.
So what happens to this money? They can't possibly just get to keep it and use it to buy beer and pizza for company parties, or can they? I guess they could try to push it back as refunds to those who donated. But what if those individuals don't have active accounts or credit cards any longer.
- Dah00n 3y agoPayPal does this constantly. They must get a lot of pizza.
- ceejayoz 3y agoBanks still process refunds to canceled accounts/cards; they typically wind up sending a check to reconcile it. It usually gets released, eventually; the freeze is theoretically to prevent Stripe from being on the hook for the chargebacks they think are coming.
- Evron 3y agoI used to work in credit card risk. This money is held in reserve account. Usually the funds are held for 180 days to protect against chargebacks. That number can vary based on the card types and the country the card holder lives in.