Stripe Refuses To Release My Money After 120 Days Hold...

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Mr Saito

Mr Saito

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Mar 11, 2023
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Hey guys,

I got a stripe acc banned.

Brand new acc. Totally white hat.

The reason for the ban is that they couldn't verify my identity lol.

I submitted a TOTALLY legit ID 891256139859187 times. I sent them videos. I did backflips. I did my Stripe morning rituals. 2x a day.

But their BROKEN system and IDIOTIC employees couldn't verify my ID. So they closed my acc.

Meanwhile I was using stripe to process payments.

All this money got on hold ofc.

I tried to contact them COUNTLESS times and explain the situation to them.

If I receive ONE MORE templated response, there will be the first Stripe shooting...

"Madman busts in Stripe headquarters and kills everyone with AK-47"

I tried to email them everywhere I found but to no avail.

At first, I thought they'll just release my money after 120 days.

Now they say that the money won't be released.

Like wut lol?

This is 100% illegal.

Does someone know any higher-up contacts in stripe who can look at this case and give me my money back?

Thanks!
 
You may have more luck if you hire a US-based lawyer to send them a letter. At least it will lend your request more credibility.
 
I never got in touch with their helpdesk at any time, tried several ways of contacting them, but nothing. So I believe the suggested solution is to find a US lawyer to help you.

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Unfortunately, my account is not from the US.

It's from Europe.

Isn't this 100% CRIMINAL by stripe??
 
To answer your question: no, it is not illegal by Stripe to hold money if they have been unable to verify the true owner of the money.

It doesn't matter for what reason they have been unable to verify. They would in fact be breaking the law if they sent the money without adequately verifying the owner.

Stripe is popular because it's easy to get started. It's easy to get started because they do a lot of the underwriting (including KYC/AML checks) after the fact, while nearly all of their competitors do much more of the onboarding before issuing a merchant account. That's why people get money stuck in Stripe. They process a bunch of money before Stripe has actually done a proper check on the merchant.

If you are unable to communicate with Stripe, going through a lawyer may help.

However, if Stripe suspects you of being a web front or having done something that violates their T&Cs, they often just refund all transactions and close the account. You may be able to redeem your account if you successfully verify your account later, if your business is as legit as you say. But if they have refunded the transactions, that money is permanently gone. There's nothing you can do about that. They have ample legal grounds to stand on for that.

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This is the probably the answer to your question.
 
Sols said:
Sols said:
To answer your question: no, it is not illegal by Stripe to hold money if they have been unable to verify the true owner of the money.

It doesn't matter for what reason they have been unable to verify. They would in fact be breaking the law if they sent the money without adequately verifying the owner.

Stripe is popular because it's easy to get started. It's easy to get started because they do a lot of the underwriting (including KYC/AML checks) after the fact, while nearly all of their competitors do much more of the onboarding before issuing a merchant account. That's why people get money stuck in Stripe. They process a bunch of money before Stripe has actually done a proper check on the merchant.

If you are unable to communicate with Stripe, going through a lawyer may help.

However, if Stripe suspects you of being a web front or having done something that violates their T&Cs, they often just refund all transactions and close the account. You may be able to redeem your account if you successfully verify your account later, if your business is as legit as you say. But if they have refunded the transactions, that money is permanently gone. There's nothing you can do about that. They have ample legal grounds to stand on for that.
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Absolutely, couldn't agree more. HOWEVER, having the right paperwork in order is crucial in this business, no question about it. Just remember, strategic decision-making is your trump card. Nail that, and you're on your way to smooth sailing.
 
Sols said:
Sols said:
To answer your question: no, it is not illegal by Stripe to hold money if they have been unable to verify the true owner of the money.

It doesn't matter for what reason they have been unable to verify. They would in fact be breaking the law if they sent the money without adequately verifying the owner.

Stripe is popular because it's easy to get started. It's easy to get started because they do a lot of the underwriting (including KYC/AML checks) after the fact, while nearly all of their competitors do much more of the onboarding before issuing a merchant account. That's why people get money stuck in Stripe. They process a bunch of money before Stripe has actually done a proper check on the merchant.

If you are unable to communicate with Stripe, going through a lawyer may help.

However, if Stripe suspects you of being a web front or having done something that violates their T&Cs, they often just refund all transactions and close the account. You may be able to redeem your account if you successfully verify your account later, if your business is as legit as you say. But if they have refunded the transactions, that money is permanently gone. There's nothing you can do about that. They have ample legal grounds to stand on for that.
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They have not refunded any of the transactions yet.

Also I don't know what's the issue in verifying my identity.

I've sent them pictures with my ID next to my face.

If a REAL person looked at it, they'll immediately know it's legit...

What should I do in this case?

MiddleEuroAsia said:
MiddleEuroAsia said:
he won't reply unless it's a high profile case and it has to come from a good law firm with a strong domain authority
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Can you recommend any law firms I can contact that specialize in stripe cases (also I don't want them to charge an arm and a leg just to send a legal letter to stripe)?
 
Mr Saito said:
Mr Saito said:
Can you recommend any law firms I can contact that specialize in stripe cases (also I don't want them to charge an arm and a leg just to send a legal letter to stripe)?
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Find out the zip code of Stripe's headquarters. Search for an attorney in the area. Contact him.

or...
if you have access to PACER, LexisNexis, or Westlaw, run a query to see how many legal cases Stripe (defendant) has against it. Pick the lawyers/law firms with the most legal cases against Stripe.

You MUST do the work.
 
Mr Saito said:
Mr Saito said:
Hey guys,

I got a stripe acc banned.

Brand new acc. Totally white hat.

The reason for the ban is that they couldn't verify my identity lol.

I submitted a TOTALLY legit ID 891256139859187 times. I sent them videos. I did backflips. I did my Stripe morning rituals. 2x a day.

But their BROKEN system and IDIOTIC employees couldn't verify my ID. So they closed my acc.

Meanwhile I was using stripe to process payments.

All this money got on hold ofc.

I tried to contact them COUNTLESS times and explain the situation to them.

If I receive ONE MORE templated response, there will be the first Stripe shooting...

"Madman busts in Stripe headquarters and kills everyone with AK-47"

I tried to email them everywhere I found but to no avail.

At first, I thought they'll just release my money after 120 days.

Now they say that the money won't be released.

Like wut lol?

This is 100% illegal.

Does someone know any higher-up contacts in stripe who can look at this case and give me my money back?

Thanks!
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Contact the support, don't just submit hundred times the ID.
 
MiddleEuroAsia said:
MiddleEuroAsia said:
Absolutely, couldn't agree more. HOWEVER, having the right paperwork in order is crucial in this business, no question about it. Just remember, strategic decision-making is your trump card. Nail that, and you're on your way to smooth sailing.
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Indeed. It's not your money until it's in your bank account. Sure, you might have 20,000 USD balance with Stripe.

Mr Saito said:
Mr Saito said:
They have not refunded any of the transactions yet.
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That's good. That hopefully means you have a chance to resolve this and get the money out.

Mr Saito said:
Mr Saito said:
Also I don't know what's the issue in verifying my identity.

I've sent them pictures with my ID next to my face.

If a REAL person looked at it, they'll immediately know it's legit...

What should I do in this case?
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You have two avenues to pursue. One is to follow the proper complaints procedure (Submit a Complaint : Stripe: Help & Support) which leads you to the FSPO in Ireland.

Additionally, you can pursue them legally. You mentioned Stripe and Europe, so your agreement is probably with STEL (Stripe Technology Europe Limited) in Ireland. Find an Irish lawyer to help you go after Stripe.

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This is the probably the answer to your question.
 
SimpleGuy said:
SimpleGuy said:
Contact the support, don't just submit hundred times the ID.
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It's not like I haven't thought of this lol

They are not helping at all + they stopped replying to my emails...

Phone is out of reach because my acc is banned,

MagicMatt said:
MagicMatt said:
Stripe are the new PayPal. Avoid at your peril.
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100%.

I even think Paypal bought shares in Stripe, nah?

Sols said:
Sols said:
You have two avenues to pursue. One is to follow the proper complaints procedure (Submit a Complaint : Stripe: Help & Support) which leads you to the FSPO in Ireland.
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Will do that asap.

Sols said:
Sols said:
Additionally, you can pursue them legally. You mentioned Stripe and Europe, so your agreement is probably with STEL (Stripe Technology Europe Limited) in Ireland. Find an Irish lawyer to help you go after Stripe.
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Ok, I'll search for one. Thanks!

If anybody knows an Irish lawyer who can help, please let me know. It will be highly appreciated!

Sorry, guys, my bad! This Stripe acc is actually a US one.

I formed it with my US LLC.

So if someone knows a US lawyer who can help, please let me know!

Last edited: Jul 12, 2023
 
Hey guys,

I'm looking for a US lawyer to fight my Stripe case.

Basically, they banned my acc because they couldn't verify my identity. I submitted a 100% legit ID. But their idiotic system for some reason failed over and over.

But now they won't even release my money after 120 days of hold.

Their support is worthless.

If someone is/knows a lawyer who can handle such Stripe cases, please let me know.

Thanks!
 
How much money do they put on hold ?

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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​
 
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