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Blacklisted from Stripe - I'm on the MATCH list.. What now?

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SasuT

🗣️ Active Recruit
Jun 5, 2023
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Hey
In 2020 I had a little dropshipping store running, I didn't enable 3DS or any security to reduce fraud risk and at some point I had a massive streak of fraudulent payments for a total of 20k$. All that got chargeback. Stripe account got terminated and since this day it seems that I'm blacklisted.

2022 I got back into business, I developed a SaaS and tried to open a Stripe account to process payment : Instant blocked.
Tried Square (another payment processor) : Accepted, been using it for a year but got terminated a few days ago. (Processed over 8000 payments and only 0.4% of chargeback).

In the meantime, in July 2023 I moved to UAE, and tried to open a Stripe account here (I thought "Well it's Stripe UAE.. Maybe they forgot me this time"). It worked fine until a few days ago (one day after Square shut down). Terminated.

I'm now with 2 other payment processors in UAE and it works fine, but I'm afraid that I'll be blocked anytime soon, even if my business is legit, not high risk, with very low chargeback. Because I'm probably on the MATCH list since 2020 I guess. So maybe Square saw it "too late" and same for Stripe UAE, they maybe noticed it only months after my registration, I don't know.

Anyway, let's say I'm on the MATCH list and I can't use any payment processors. What options do I have to keep accepting payments ?

Nominee UK LTD + Stripe ?

For now I'm fine with my new UAE payment processor, but I'm looking for backups in case I'm really on this MATCH list (means I'm gonna get blocked soon if it's the case). Thanks.
 
The processor that put you on the list can in some cases remove you from‌ the list, if you manage to convince them that it was a genuine mistake that‍ you have learned from and won't repeat. But knowing Stripe and seeing as it's been⁠ 3–4 years by now, it might not go anywhere. The good news is you're likely⁤ not going to be on the list for much longer. In a couple of years,⁣ the record is probably expunged.

In the meantime, you can only open your own merchant⁢ accounts without your name appearing as director, shareholder, user, or UBO.
 
It depends on the reason‌ and severity of what happened. If it was a simple case of excessive chargeback and‍ no other wrongdoing, the record usually goes away after/within five years.

If you've been very⁠ naughty, it can stay longer or indefinitely.
 
Open a new company/Stripe account in the name of one of your family members.
 
Nominee director and shareholder for UK LTD and move on. IF you owe them 20$K‌ + fines you will see that you never will get off the list the next‍ 15 years. I made same mistake, was with a bigger amount, that is 16 years⁠ ago, still on the list, can't get a merchant account.

I solve the problem with⁤ what I suggested years ago, working fine.
 
Thanks for the answers.

By the way, Stripe blocked me + told me they will‌ refund the payments to my customers. Will they only use my remaining balance to refund‍ ? (10k) or they’ll also take money from my bank account?

Payments refunded are only⁠ the last ones before closure or ALL the payments lifetime?

Thanks
 
They will first⁠ take from the available balance on the merchant account. If there isn't enough there, they⁤ may try to take it from your bank account. If you gave them a direct⁣ debit mandate, they might try to pull the money from your account.

Probably just the ones that you haven't been paid for yet.
 
I'm a bit paranoid so I checked by curiosity:

If you try to open⁣ a Stripe account for a UK or EU business, it says you this about the⁢ bank account :

(so you agree that they can take funds from your bank account)

But then I︃ tried with a UAE business, and there is no mention of that. Only the field︄ to put the IBAN to receive funds. So maybe they don't have the right/power to︅ take funds from UAE banks.

---

I was just paranoid because it's ok if they︆ refund my last customers that I didn't get paid for, I'll get the money back︇ from them with another processor. But what if they choose to refund everyone since the︈ opening of the account and withdraw +200K from my bank account lol

Anyway, I should︉ be safe. Now time to get a nominee + uk ltd I guess.
 
Question is what data they use to identify︌ you, they cant identify you by your name only. Do you use the same passport/ID︍ for verification?
 
I think match list is a combination of name, date of birth, nationality.. aswell as⁠ company infos.

Hard to « bypass » with the same identity
 
I think you and the rest of the world have very‍ different definitions of what "easy" means, but I admire your tenacity.
 
I don't think that's real. It looks‍ nothing like your profile pic.
 
I am surprised Stripe let $20k of fraudulent︌ payments through; they are normally pretty good at blocking obvious ones.
 
What you need⁣ to do in your case, OP, is to set up a completely new company without⁢ your name appearing anywhere. You need to ensure that the company also has a website︀ that is compliant with all Visa/MC rules, and then you need to have all the︁ KYC documents ready from the director and shareholder.

You can find a detailed guide in︂ the thread below, which you'll find in the mentor group gold:
https://www.offshorecorptalk.com/threads/you-need-a-real-address-and-director-for-a-uk-ltd.43463/
 
So we have Putin‍ and Andrew Tate on OCT - I feel deeply honored to be a part of⁠ this proud and libertarian community, where dictators, socialists, libertarians, and the underground meet for a⁤ good chat.
 
Did you find a reliable service provider that︌ was able to get you off the match list or provide your with processing anyway?︍ Curious to learn about exact this problem since it isn't rare now a days.
 
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