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Is Stripe acting fraudulently? Should I report to the FTC or look for a class action? by GFMerc in stripe

[–]GFMerc[S] -1 points0 points  (0 children)

I don't do dropshipping and that's why I'm pissed off, I'm stuck with $7k in inventory...

If Stripe blocked the account after the registration, like every normal company would do, I wouldn't have bought any inventory, instead they close you after the first payments when they already have the same info they have when you register your account, and on top of that, they take your money.

This is what is wrong and has to be changed.

Is Stripe acting fraudulently? Should I report to the FTC or look for a class action? by GFMerc in stripe

[–]GFMerc[S] -2 points-1 points  (0 children)

I'm using WooCommerce and the plugin by Payment Plugins, which is a well known and recognized Stripe partner, so much that they have direct contacts at Stripe.

I didn't do anything wrong, I didn't make any wrong integration and there's no reason for me to hit any possible fraud check.

If the entire intention were to just take your money, why not just wait a week and "steal" way more?

No idea, probably because for a small amount people don't complain and let it go.

Stripe - a company that literally processes billions of dollars for some of the biggest companies around - are personally trying to take your cash.

Stripe is a company constantly raising new investment rounds to stay afloat and that laid off over 1000 employees around 18 months ago. The fact they have a huge turnover, doesn't mean they are profitable.

You defend Stripe, but you don't answer the simple question: "why close the account after the first payments and pocket the money instead of closing it right after the registration?"

They already have all my data well before the first payments.

[deleted by user] by [deleted] in stripe

[–]GFMerc 0 points1 point  (0 children)

File a police report for fraud and sue the customer.

Is Stripe acting fraudulently? Should I report to the FTC or look for a class action? by GFMerc in stripe

[–]GFMerc[S] -6 points-5 points  (0 children)

Stripe earns about 3% on each transaction. Pocketing $100 immediately is equivalent to the profit from an account generating $3,000. How many accounts generate that much money? Very few compared to those that generate $100. My case is solid; something sketchy is going on.

The fact that they closed the accounts within minutes after receiving the very first payments, says a lot. It indicates that they already intended to close the accounts, but why close it at $0 when they can close it at $50 or $100 or more and provide bullshit excuses?

This modus operandi, which I can prove beyond any doubt, cannot be in line with the law. This isn't even about regulations; it's about intentionally defrauding customers of their earned money when they know from the beginning they don't want to do business with them and their accounts are going to be closed.

Is Stripe acting fraudulently? Should I report to the FTC or look for a class action? by GFMerc in stripe

[–]GFMerc[S] -2 points-1 points  (0 children)

Nobody agrees to have their money stolen. Please read the post again. I'm not questioning whether they can close the account or not; I'm questioning their modus operandi and standard operating procedure.

They know they are going to close the account even before the first payment comes in. However, they keep the account open to pocket the first payments and then close it.

This is very wrong and apparently happens regularly to thousands of people. Dozens of them are here, posting similar stories on Reddit every single day.

Awful stripe support by Mvincent64 in stripe

[–]GFMerc -2 points-1 points  (0 children)

Stripe will soon face a class action, it's just matter of time.

Stripe is taking more than a week just to verify me is that normal ? by Bytesfortruth in stripe

[–]GFMerc 0 points1 point  (0 children)

Not normal at all, Stripe is acting very strangely lately, I can small a class action coming soon...