Stripe

We are a large e-commerce website operating for 3 years via Shopify Payments. Recently, we switched to Stripe.

We average about $150,000 in sales per month. This is about 4,500 transactions.

Because we received a few chargebacks, and I mean around 10 (it will happen no matter what) they put all our funds on hold for 90 days.

They legally stole from us, and we have no power at all because they point to their TOS and say its in the fine print.

The cash flow was stopped literally overnight, and now I have to figure something out to pay 10 employees, satisfy pending orders on my own dime (over 2,000 orders), pay credits, and deal with thousands of customer complaints.

I will get through this with God and all will be well, regardless of the tremendous pressures.

Do. Not. Ever. Use. Stripe Payments if you are a serious seller. They will legally take your food and spit on your face.

However, I am in contact with my Ministry of Finance and I will legally strip Stripe Payments of every single dollar they have.

PS: They are not payment processors. They are aggregators, and thats why they do such acts. They are the middle man - taking money from here and putting it there, due to their banking relations. Just like Paypal. It's ILLEGAL for them to take part in these actions of holding reserves, because they are posing as a bank, which theyre not.

Good luck with your business guys!

Like many others, I tried to use Stripe to process payments for my short term rental business. After one failed payment that was declined due to the customer having insufficient funds, instead of waiting for me to resolve it, Stripe decided to immediately lock out services on my account.

I contacted Stripe support multiple times, explaining in detail what happened from my point of view, and each time they responded with a generic copy-and-paste that did not relate to any of my specifics, and insisted that my business was too "high risk" for them to provide services. I call shenanigans on that as I know for a fact numerous other short term rentals use Stripe and they've partnered with multiple channel managers.

On my most recent communication with Stripe, I asked that even if they couldn't restore services to my account, at least GIVE ME AN EXPLANATION why they've locked me out. But no, their response to that was word for word the same generic tripe they used previously, and completely ignored my requests. They couldn't be bothered with my problem and decided it's easier to cut me off.

Your mileage may vary, and you may never run into the problems I did, and if so that's great, but I would caution any new users that your experience with Stripe might come to a grinding halt at any moment with you none the wiser about what you did wrong.

Stripe just canceled our account down after 6 years due to CBD ingredients in some lotion and lube we were selling. We removed ALL the products and disputed it and got a message back saying we were still HIGH RISK! We had NEVER had a payment issue in 6 years! We have proven we are NOT a "high" risk, they just gave us this vague BS reply... Please know that we do have to impose strict limits on the types of businesses we can and can't support. We're unable to work with any business that we believe poses an elevated financial risk, or violates our own policies; in this case, after a thorough review of your account, we have determined that your business falls within these guidelines.

That said, I can assure you that we have done a thorough review of your account, and we will be unable to reverse our decision. We are unable to provide any further details regarding the reason for your account's closure in order to protect our processes.

I apologize that we weren't able to offer you a better experience, and wish you the best of luck with your business.

THE FIRST TRANSACTION TOOK 10 DAYS THEY SAID AFTER THAT IS GOING TO TAKE ONLY 24 HOURS AND WHEN I TRIED THE SECOND TOOK LIKE 5 DAYS FOR THEM TO TELL ME A BUNCH OF REQUIREMENTS THAT WAS NEVER MENTION BEFORE AND I HAVE TO END UP CANCELING THE TRANSACTION AND THEY STILL CHARGE ME FOR A SERVICE I NEVER GOT. MY CLIENT GOT FULL REFUND BUT THEY CHARGE ME FOR A SERVICE THAT WAS NEVER PROVIDE AND THEY WASTED 2 WEEEK OF MY TIME, THE AGGRAVATION AND FRUSTRATION WAS TOO MUCH.

Scam Alert

They people allow you to make account as sole proprietorship & ask some verification that is mentioned in before signup.like SSN,ID,Realtime SELFIE,License.
After that once you charged the amount they will move with new verification that is not mentioned & hold the account & ask for web control verification.
I have done that,here after their system block my client payment & then they just replied me that you made unauthorized payment.
I show them conversation that client made this payment upon their approval.
But after reviewing they just take my test payment client payment & charge the commission.

They are mailing money in this way & wasting time & money of people.

I think procedures should be cleared mention before the signup.
They are doing complete scam with people.

Now I will help people to advise the real thing they will ask & give you guidance so all people can save themselves from this scam company.

Yes giving services with hidden surprise are scam.
I will educate people so they can go to right company.

If you want any evidence how they did scam I can show you all guys

No phone number, and when you send them an email they never answer back!
First of all, i have to deal with their 7 days roll process wich is very sad for a business health, and after that, a week after i ship products value of 3000$ they tell me that the payment was not authorized, so they just take from me 3000$ and i lost the goods! Very sad, i cannot lose hope and start to work harder, i sell goods 6000$ worth, and then SAME THING HAPPENS! They take from my account the money and then tell me that i am accepting fraudulant credit cards, and This guy names "Les" says that they close my account for that.

I feel like i've been scammed both by buyers and by stripe, NO marchant protection, NO customer service, VERY LONG processment time, VERY expensive

Do not use this service for your card processing under any circumstances. I have a stripe account that has not been used for at least a year and a half. Bank account attached is closed as well. Someone breached my account, changed the bank account, password and email address. I started calling and e-mailing stripe on Friday and nobody got back to me until Wednesday. Meanwhile, the hackers have been charging stolen card numbers and stripe actually release a portion of what they had charged to the thieves on the day they called me. They will not close down my account until I attach an active bank account to my Stripe account. I think their plan is to try and take the money back from me that they paid out to the thieves. They are threatening me with sicking collectors on me even though I received no money. With all of the negative scam reviews and how they are handling this I believe the company is somehow in on this scam. They have no fraud department no way to get ahold of them (they don't answer their phone number and it was 6 days before I heard from them. I am filing complaints with the Attorney general in both my state and California where they are, the BBB, and the consumer financial protection bureau. I also spoke with the FBI today and gave a report and they also referred me to the Secret Service. Anyone that gets scammed by them should file a report with the FBI so stripe can be stopped.

Recently our company are facing a major problem that are concerning us and our customer safety on payment.
The problem we are facing are, there are payment for our service done by a 3rd party.
The concerning things are that the payment by this 3rd party (that we don't know who the culprit are) made the payment using other people credit card without the card owner consent(cc breach).
Credit card breach and payment used by other people without the consent of the card owner are classified as a crime and punishable by the law.
All of this disputes have been claimed by the card owner and has cost us ¥385,500 in total lost from 18 customers (more might come).

We have deployed all of necessary counter to prevent this crime to happening to us again. However
We are still very dissappointed with how stripe acted to prevent or help us to solve this problems. We have contacted your customer support and doing all the requirements with a very strong evidence by counter disputes but still got no results for us to win the claim and help us to prevent this kind of problem. This has caused us to lose all our trust on stripe to handle our transactions in the future.

We were excited to implement stripe.com in our site as they provide good APIs for software developers. The integration was smooth and we were up and running in a short time. Once we started using Stripe for credit card transactions, we quickly discovered a huge problem with their service. Here is what happened:
One of our clients accidentally double charged their credit card when they ordered one of our products. I am not sure how they did this, but they contacted us to report that they have a duplicate charge on their credit card statement. Of course we immediately refunded one of the charges via Stripe online console. This worked fine, but we noticed that Stripe did not refund us the 2.9% credit card transaction fee when the payment was refunded. In our case, this was a considerable $116 fee. When we contacted Stripe about this, they had a canned response that states that their policy is to keep your transaction fee even if the payment was refunded!
Think about this from a merchant point of view for a second. Not only you have to pay Stripe 2.9% of all sales you process via their service, but also you have to pay them 2.9% of sales you DID NOT make! Its not enough that you lost the sale, profit, and maybe shipping fee and got an open box as a result of the return / refund, but also you are getting penalize by Stripe for the refund!
Refunds are normal part of the credit card business, and for Stripe to penalize its client for it is outrageous. Other merchant accounts companies we used in the past did NOT do this. Rather, they refunded all the fees and only charged us $0.30 (30 cents) transaction fee for the refund. That was it. They did not keep 2.9% of the sale amount.
Needless to say, we are shopping for a different credit card processing company. We are totally disappointed with Stripe and the fact that we wasted so much of our time implemented their lousy service.

Refund your money then ban your card thanks for nothing and a loss chance to win my dream car stay away from this company.

Would only accept a very limited range of Verification ID. Don't know of any company this strict. Had to close down account.

Do not expect any help if you get stuck with issues. Noone to talk to, worst customer service I've experienced

A bit shocking from a company that prises itself with security.

I had a business account, I was selling electronics. Few a scammer (I figured later that it's the same person each time) tried to scam us. Each time we sent a refund to the credit card scamer used (seems to be stolen)

Each time we sent an email to Stripe with all details of transaction and correspondence we had with the scamer to help them with figuring out how those scamers operate. We thought we're doing a good thing and Stripe seemed to appreciate the effort.

Suddenly our account got blocked for selling not original electronics. A bit ridiculous reason since we buy all electronics from either authorised agents or manufacturers themselves.

We were contacted and asked by Stripe to provide a letter from manufacturers that confirms that the products we sell are original. I said that I'll try to get it, though I've never heard of such letters before.

Their customer service rep promptly replied that we should start looking for new payments processor instead (!). They couldn't be more clear that we are no longer welcomed as customers.

They're not a bad company overall but my recommendation is do not try to help their frauds department! Do not send any emails or addresses recieved by scamer, just let the scamer keep scaming their customers, otherwise you might end up with your account blocked.

Prior to the above we had no problems with Stripe. All seemed to work well, payments paid out on time etc

DONT EVEN TRY THEM. I signed up with them in Feb 2021 and linked with my site. I received my first order using STRIPE and when it comes to payout (after some days) they said we need more info. I took pic of my passport several time but their automated system couldnt accept that. So i wrote to their support team and they send me same link for verification and very next day they sent me email that we can no longer work with you. I said ok fine, you can refund the customer to his card and they sent me email that it will take 5 to 7 working days and i was ok with that. After that time period customer showed up on my shop and started yelling on me. I had to offer him some discount on the products and asked him to wait further 5 days and still if he dont gets it then talk to bank. In the meanwhile i wrote couple of emails to STRIPE asking to refund the customer but everytime i got just automated reply that we will get backto you. Now today 27th Mar 2021 i got an email that customer claimed the chargeback and they are trying to impose chargeback fee on me! I will spread my words about STRIPE everywhere possible.

I wanna start a business 2 half yrs ago in 2020 to hoping to take off but in last 2 yrs I trying build a website, but it was always issues verity my id card two half years later, I never couldn't get into verify my id card so I, took a picture verify is me but they say it's wasn't me that's was lie and my website can't acpect payments I really wasit two years of my life trying to work with this company I'm mad because I really wanna this now I got star over and I saw other reviews on here that they stolen money from someone now I officially done with this company I delete my account and website glad I saw these reviews before cashing more to this stripe debit card throwing away too, stay away from this country they won't help you and you will have problem's website, company everyday

Apparently the MARXIST owners of STRIPE have no business in AMERICA. They shut down your account, if your BUSINESS does not match their COMMUNIST AGENDA!.