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I can see that happening. My business is allowed (custom app development) but I'm not sure I want to take the gamble on possibly not getting paid for a week of

I can see that happening. My business is allowed (custom app development) but I'm not sure I want to take the gamble on possibly not getting paid for a week of work. One of the scenarios I read stated that Stripe said the reversals were because their automated system believed that the person behind the account was the same as one that had already been canceled, but that the detection system wasn't 100% accurate and they were awful sorry if the decision had been made in error. It offered no appeals process. That story made me particularly nervous since ISP's recycle IPs etc.

juddlyon 13y ago
I've run 30-40K through Stripe over the last several months for a couple consulting clients with no issues whatsoever. Stripe does what it says on the tin. These guys are a dream to deal with versus my old set up (Authorize.net and First Data). Those guys are thieves who nickel and dime you to death with cryptically-named mystery fees. I'm in the US FWIW.....
anurag 13y ago
I'm not familiar with the details here (feel free to email me -- anurag@stripe.com), but I can say with confidence that you should never have to worry about not being paid for a week of work with Stripe. If there was a bug like this, we'd do everything possible to make things right, including (of course) transferring funds to your account to cover any reversals that were made in error.
regal 13y ago
I've been using Stripe for just over a year now to take payments for a 6-figure-a-year business. We've had no reversals whatsoever. The only time Stripe has removed payments have been in the case of the occasional chargeback, which we typically win; payments seem to get docked the moment you file your response to the dispute, and get credited back the moment you're notified the dispute has been won. I was a little nervous when first setting up with Stripe too, so we enabled it for a few hours and let a few sales go through, then switched back to our old merchant account and payment gateway while we waited to make absolutely sure the sales went through with Stripe. 7 days later, the payments hit our bank account, and we switched everything over to them - been happy ever since. They have a great dashboard, and everything's far easier to deal with and manage than it was with our old merchant account. Only downside is the pay delay - merchant account deposited most funds in our accounts within 2 days; Stripe takes 7. But if you're doing pretty consistent numbers, this isn't too much of a burden to cash flow, since you've got the funds from a week ago coming in every day.

juddlyon 13y ago

I've run 30-40K through Stripe over the last several months for a couple consulting clients with no issues whatsoever. Stripe does what it says on the tin. These guys are a dream to deal with versus my old set up (Authorize.net and First Data). Those guys are thieves who nickel and dime you to death with cryptically-named mystery fees. I'm in the US FWIW.....

anurag 13y ago

I'm not familiar with the details here (feel free to email me -- anurag@stripe.com), but I can say with confidence that you should never have to worry about not being paid for a week of work with Stripe. If there was a bug like this, we'd do everything possible to make things right, including (of course) transferring funds to your account to cover any reversals that were made in error.

regal 13y ago

I've been using Stripe for just over a year now to take payments for a 6-figure-a-year business. We've had no reversals whatsoever. The only time Stripe has removed payments have been in the case of the occasional chargeback, which we typically win; payments seem to get docked the moment you file your response to the dispute, and get credited back the moment you're notified the dispute has been won. I was a little nervous when first setting up with Stripe too, so we enabled it for a few hours and let a few sales go through, then switched back to our old merchant account and payment gateway while we waited to make absolutely sure the sales went through with Stripe. 7 days later, the payments hit our bank account, and we switched everything over to them - been happy ever since. They have a great dashboard, and everything's far easier to deal with and manage than it was with our old merchant account. Only downside is the pay delay - merchant account deposited most funds in our accounts within 2 days; Stripe takes 7. But if you're doing pretty consistent numbers, this isn't too much of a burden to cash flow, since you've got the funds from a week ago coming in every day.