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Anecdata, but I've had both my bank account and Stripe account closed for basically "no reason". I still don't know why Stripe closed my account (I was selling

Anecdata, but I've had both my bank account and Stripe account closed for basically "no reason". I still don't know why Stripe closed my account (I was selling cheap USB oscilloscopes online, never had a complaint. Couldn't get in contact with them at all when it happened.) My bank account was closed because I filled in a KYC form incorrectly, and they didn't have a process in place to follow up properly when this had occurred.

ponector 3y ago
[flagged]
- izacus 3y ago
  Making an honest mistake on a complex form isn't "lying" and neither is it an offense that warrants financial punishment. What the heck?
  - ponector 3y ago
    How about seeing like a bank? From bank's point of view it could be either honest mistake or deliberate lie. And if person is lying and have been caught - they always say it was an honest mistake.
  - Kalium 3y ago
    All the bank knows is that they tried to get to know someone as required and that person gave them bad info. This is either intentional or unintentional. Now, they could go in for a high-touch customer care process, but that has drawbacks. It's expensive. Every person intentionally providing incorrect information is going to claim it's unintentional, meaning that this high-touch customer care process is going to have to double as a strong anti-fraud screening. From the bank's perspective, this is failure-prone and needlessly risky. If we're seeing like a customer, this is a shitty experience that they can't understand, negotiate, or do anything about. They're being punished and don't know why. If we're seeing like a bank, it's a way to control a risk for a known price.
  - MichaelZuo 3y ago
    Have you read the relevant KYC laws and regulations that the bank must follow? Otherwise how would you know this to be the case?
throwaway2037 3y ago
My bank account was closed because I filled in a KYC form incorrectly, and they didn't have a process in place to follow up properly when this had occurred. I'm tired of HN anecdata about "bank account was closed because of silly reason X". I sincerely doubt we are getting the full story. Step 1: Send a written complaint to the bank and use mail tracking. Then they cannot deny it was not received. Step 2: Report this to your local banking regulator.
- idiotsecant 3y ago
  You seem very emotionally invested in the idea that banks don't make mistakes. What is that all about?
  - jonathanlydall 3y ago
    I’m pretty sure that they absolutely know that banks make mistakes. But if you’ve never been on the other side providing customer service, you may be astonished at the systemic fraud/illegal attempts happening constantly. When I did CS at Blizzard for WoW at least half our work was dealing with compromised accounts (essentially by gold sellers), and then a good deal of “I’ve been hacked!” tickets were by the thieves trying to double steal from an account. To put that in perspective, it was $100,000s or $1,000,000s in CS costs per month (at just Blizzard) to help customers who were victims of a large scale full time industry (not individuals, organisations) which compromises accounts to make a living. People banned for confirmed cheating with 3rd party programs would make support requests repeatedly in the hope they’d come across an agent who “makes a mistake and accidentally unbans them”, occasionally you would see lots of them trying the same strategy or telling the same story since they saw a forum post of someone who said “this worked for me”. Legitimate mistakes happen, but they’re like 1% of the time, the rest of the time it’s systemic attempted fraud. So the person you’re replying to is most likely aware of this reality and says that “complaining on forums” is most often by people who aren’t telling the full story. Hence them saying, if your story is legit, take it to the right place to get help, otherwise you’re looking like a just another fraudster (who do this systematically) trying to game the system in some way.

ponector 3y ago

[flagged]

izacus 3y ago
Making an honest mistake on a complex form isn't "lying" and neither is it an offense that warrants financial punishment. What the heck?
- ponector 3y ago
  How about seeing like a bank? From bank's point of view it could be either honest mistake or deliberate lie. And if person is lying and have been caught - they always say it was an honest mistake.
- Kalium 3y ago
  All the bank knows is that they tried to get to know someone as required and that person gave them bad info. This is either intentional or unintentional. Now, they could go in for a high-touch customer care process, but that has drawbacks. It's expensive. Every person intentionally providing incorrect information is going to claim it's unintentional, meaning that this high-touch customer care process is going to have to double as a strong anti-fraud screening. From the bank's perspective, this is failure-prone and needlessly risky. If we're seeing like a customer, this is a shitty experience that they can't understand, negotiate, or do anything about. They're being punished and don't know why. If we're seeing like a bank, it's a way to control a risk for a known price.
- MichaelZuo 3y ago
  Have you read the relevant KYC laws and regulations that the bank must follow? Otherwise how would you know this to be the case?

throwaway2037 3y ago

My bank account was closed because I filled in a KYC form incorrectly, and they didn't have a process in place to follow up properly when this had occurred. I'm tired of HN anecdata about "bank account was closed because of silly reason X". I sincerely doubt we are getting the full story. Step 1: Send a written complaint to the bank and use mail tracking. Then they cannot deny it was not received. Step 2: Report this to your local banking regulator.

idiotsecant 3y ago
You seem very emotionally invested in the idea that banks don't make mistakes. What is that all about?
- jonathanlydall 3y ago
  I’m pretty sure that they absolutely know that banks make mistakes. But if you’ve never been on the other side providing customer service, you may be astonished at the systemic fraud/illegal attempts happening constantly. When I did CS at Blizzard for WoW at least half our work was dealing with compromised accounts (essentially by gold sellers), and then a good deal of “I’ve been hacked!” tickets were by the thieves trying to double steal from an account. To put that in perspective, it was $100,000s or $1,000,000s in CS costs per month (at just Blizzard) to help customers who were victims of a large scale full time industry (not individuals, organisations) which compromises accounts to make a living. People banned for confirmed cheating with 3rd party programs would make support requests repeatedly in the hope they’d come across an agent who “makes a mistake and accidentally unbans them”, occasionally you would see lots of them trying the same strategy or telling the same story since they saw a forum post of someone who said “this worked for me”. Legitimate mistakes happen, but they’re like 1% of the time, the rest of the time it’s systemic attempted fraud. So the person you’re replying to is most likely aware of this reality and says that “complaining on forums” is most often by people who aren’t telling the full story. Hence them saying, if your story is legit, take it to the right place to get help, otherwise you’re looking like a just another fraudster (who do this systematically) trying to game the system in some way.