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4 Comments

Problem with stripe (money frozen) Question

Hello all,

Three weeks ago I started using stripe as a payment provider. After selling a few products (worth of 30k gym equipment) and requesting a payout from stripe, I received an email from stripe three days before the payout was scheduled with the following text:

Thanks for using Stripe!
 
We're writing to request some additional information that we couldn't verify using your account. In order to continuous transferring funds to you on time, would you mind providing the following information:

  • a copy of the invoice or contract for (py number)
  • a photo of the primary products, goods, or services being sold (please ensure that the photo includes a sheet of paper that notes the date that the photo was taken)
  • a copy of the tracking numbers for the shipment of your goods
     
    Any documents or photos can be attached in your reply to this email. As soon as we can verify these details, your account will be all set to again automatically transfer funds to your bank account.

I responded within 24 hours and delivered everything they asked for. After this I got a response the next day: We'll go ahead and check your business website/account and we''ll definitely get back to you for update. After me asking how long this will take because I need the money for new inventory purchasing, I got the answer: I'm afraid that there's no exact time frame for the review, but we'll work to make sure this review is completed in a timely manner.

What does that mean? Will this take days / months / years? How difficult can it be to verify my account with all the clear documents I added. It's now the third day.. (PS I am from Europe if that matters)

Anyone with the same experience? Or does anyone know what is taking so long for verification? It feels so painful to see my money frozen in the stripe account, with their power over it, I feel like I have to kiss their ass to get my money back.. This really s**ks.

on May 29, 2020
  1. 1

    I've never experienced this (i've never sold such high ticket items), but i can see why Stripe would do this -- especially in your case.

    • new stripe account
    • single/couple cards / high purchase amount

    This would definitely trigger fraud alerts at pretty much any payment processor. I'm sure this depends entirely on their workload and how hard it is to verify all the things they are trying to verify.

    Good luck though. Tough situation.

    1. 1

      Thank you for your reply.

      Most payments are paid with direct pay cards (no disputes possible). But still they are holding my money, I stopped my business for now because I don't want to have more frozen money, 30k is already a lot for me. One item of my shop can be worth 100$-1000$. My documents are very clear, I even sended extra pictures/scans to fasten this process, but not working...

      1. 1

        I would like to know what the outcome was? I am having the same issue as well. They just requested additional information from me, but only requested copy of invoice for a recent transaction and a social media link, which I provided. How long did the process take?

      2. 1

        Hello, I am actually having the same problem recently and I would like to know what they have done with you after that..