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!