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4w ago
Reddit user u/Steelsixactual shared a troubling experience with Stripe, accusing the payment processor of potentially destroying their business. The user, running a two-year-old management consulting and marketing firm, processed over $753,000 last year through invoices with signed contracts.
The problems began when a client fraudulently charged back $16,000 while still under contract. Stripe then shut down the account but continued processing with a 60-90 day hold. After opening a new account, Stripe implemented a 30% reserve. However, when processing a $24,000 charge for a new client, Stripe completely shut down the new account.
Despite submitting requested documentation, the appeal was denied. Stripe threatened to reverse charges and cease supporting the business, but has since left $27,139 in limbo, continually shifting the payout date. The lack of communication and transparency from Stripe has left the business owner feeling "robbed" and considering legal action for tortious interference with contracts.
Follow the original story at Reddit