Stripe Has Cancelled A Vendor Reminds Me Of PayPal

[captkirk]

Hi Fellow MC Members and Guests,

 

Tommie Kirkland (Captkirk) here...

 

I received an email from a vendor that Stripe account has been cancelled.

 

Here's the email that Stripe sent:

 

"Thanks for using Stripe.

While we hate to give you anything less than a great experience, it does seem that your business is in violation of the Stripe Services Agreement, section A.7.b ("Prohibited Businesses and Activities"). Specifically, we are unable to accept payments for multi-level marketing as mentioned here: https://stripe.com/prohibited-businesses.

These regulations are firm, so we sadly have no flexibility with them. That said, we understand that there may be some work involved with moving your business away from Stripe, and we’re happy to help out with this process by giving you 14 days to switch to a new provider. After that, you won’t be able to accept additional charges on your account, but we will continue sending payouts to your bank account until you receive all of your funds[1].

If you need an alternative payment processor, we recommend considering PaymentCloud, which works with businesses with a higher level of risk than we\'re able to support: https://paymentcloudinc.com/stripe.

We\'re very sorry that we have to turn away your business, and we wish you the best of luck moving forward."

 

 

 

[rpsmith]

Unlike Paypal, at least they are willing to make sure the money is sent to the owner/vendor. Paypal has the reputation of keeping it all. I heard that from others who have had their account frozen or cancelled while using paypal.

[captkirk]

Unlike Paypal, at least they are willing to make sure the money is sent to the owner/vendor. Paypal has the reputation of keeping it all. I heard that from others who have had their account frozen or cancelled while using paypal.

If PayPal freeze your account they can hold your funds up to 6 months, then they will release your funds to you.

 

I’m speaking from my own experience with PayPal.

[Ed Forshaw]

At least Stripe is polite about the whole thing. Paypal just comes in like a swat team and takes everything and locks it down.

Also Stripe is very clear about what can and can't be sold using their services.

Paypal changes the acceptable use policy often and neglects to inform anyone about it.

[weblord]

better be armed with a lot of payment methods, the more the merrier, the more methods you can accept payments from your buyer, the more beneficial and safe it will be for you. i think stripe manages to refer you to paymentcloud. anyways, during those 1990's payment i was using westernunion payment because paypal was not yet available here in our country, know what, some people online took it as scam since if i deliver a lousy product or services you no longer can't request a refund, well it depends i can refund, it depends on the seller and it's motivations.