Stripe Closed My Account | Hacker News Reader

Stripe Closed My Account

1 pointdrmustafash9 comments

After three months of using Stripe, they conducted a routine credit check and requested three months of bank statements. Since I use a Payoneer receiving account, I provided a Payoneer statement covering this period. However, shortly after I uploaded the documents, my account was closed, with Stripe citing it as high-risk. I have never had a chargeback, and I run a legitimate web hosting business.

Note:Stripe asked for the statement from the bank used for payouts, which for me is Payoneer, so I sent that. If they’d asked for a personal bank statement, I’d have happily provided it, but their request specifically focused on my payout account.

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Sorry to hear about your experience. Unfortunately, this is far to common with Stripe. Stripe shut down my previous SaaS without warning or explanation. It was almost a death sentence for my business.

I built OpenPay (getopenpay.com) so you can flexibly move from Stripe to another payment processor without losing a cent of revenue. Happy to get you set up, and help you migrate from Stripe. Feel free to reach out to me at lancectk [at] getopenpay.com and I can hop on a call with you today to help you get migrated

We've helped dozens of people in your position. We can help you quickly transition the code you've written (our API is basically the same) and get your subscriptions up and running again

You were asked for bank statements and you gave them not-a-bank statements from another online payment processor… from Stripe’s POV you look like a reasonable approximation of a money launderer.

A legitimate business should be able to provide statements from a legitimate bank on request. Assuming you are legitimate and your Payoneer account ultimately ties to an actual bank, appeal to Stripe with that extra data and plead overwork fatigue.

Thanks for the feedback. Stripe asked for the statement from the bank used for payouts, which for me is Payoneer, so I sent that. If they’d asked for a personal bank statement, I’d have happily provided it, but their request specifically focused on my payout account.

When I opened the account, Stripe support confirmed that using Payoneer was fine, and since I don’t have a U.S. bank account, it was my only option for payouts. I run a legitimate business, and Payoneer conducts full KYC checks, so there's no question of money laundering.

This isn't stripe customer service, nobody here can change your situation.

I know this isn’t Stripe support, but I’m out of options. Stripe cuts off support access for closed accounts. I’ve emailed them multiple times, offering to provide additional documents and PayPal statements, but I haven’t received any response for over a month.

you might have been listed as high risk and set to lowest priority if not mute.

Yes, they cut off support for closed accounts

What you will learn from this experience is to always have a plan for what to do if x happens, and make some sort of provision if it is possible and economic. In the early internet year's I had two different providers suffer catastrophic fires! Taught me a lesson.

Fortunately, around 80% of my customers already pay with crypto. My account has been approved by another payment provider, but I’ve lost trust in traditional processors. From now on, I’ll be accepting only crypto payments through Cryptomus.

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