Stripe account closed

[Jwizard]

Been using stripe with no problems for two years. I received an email today that they are going to stop doing business with me because my dispute percentage is 6.4% and they're limit is only 1%.

If anyone has has any success resolving this issue with stripe please let me know.

[GreenBean]

Woah.... What happened you got to that %?

Sorry to hear.

[Jwizard]

Originally Posted by GreenBean

Woah.... What happened you got to that %?

Sorry to hear.

I sell digital products online, 90% of the chargeback were filed as fraudulent.

[GreenBean]

Common problem with these.

[rsot]

The chargeback got your account axed - not much you can do

[aspkin]

Originally Posted by Jwizard

Been using stripe with no problems for two years. I received an email today that they are going to stop doing business with me because my dispute percentage is 6.4% and they're limit is only 1%.

If anyone has has any success resolving this issue with stripe please let me know.

You have to be more diligent with who you accept as a customer.. Stripe does very little as far as blocking bad buyers.. you have to do this yourself.

Try talking to Stripe and let them know you're working on it.. they give you a 2nd chance.

Take other payment processors in the future.

[ccwjames]

i just re opened one with a new address, email ect and working ok
mine was someone reported me for selling boxes for sat tv

[123]

Yes Stripe is great but you have to do a screening process with your buyers / make sure address matches to ip address etc

[ccwjames]

The thing i hate about stripe and this happened to me last month is this:

someone brought 2 boxes of me and all ok for 2 months then out of the blue i looked into stripe to send myself some money and i saw there was "two" charge backs from the same guy. Each with a £15 fee. now i`ll be honest, i went crazy! thinking what who why etc

i sent the person 12 emails over that weekend, saying how can you report this as fraud when you use your address, cvv of card as well as your fingerprint on phone as noted here. I got no reply

so as some old boxes were connected to a vps for skin update, i blocked the two boxes by mac address for updates

i then got a reply telling me

Hi my box wont update some apps, can you tell me whats wrong

i asked why he not reply to 12 emails, he then told me and this is the point i wanted to make

his BANK had stopped his card as someone used it for £400 so he claims and that they blocked all transactions in a date cluster. I said well "THANKS" the money you paid me was removed from my account plus im now £30 extra out of pocket for the charges.

stripe says i have to forward info on. That i did by the way of his ip, email, finger print on log and i have to wait upto 60 days, to see if i can get the money bank?

[unkown5454]

just sounds like you all sell sketchy products. my accounts work fine.

[jeffweico]

Some products attract more fraud than others. Cable boxes fall into that category. You already know the person buying one is not a straight shooter. He is willing to rip off the cable companies. Not that I have any love for the cable companies, but you get what I mean.

Super-popular stuff is also a risk, like those hoverboards that sold like crazy during Christmas. Stripe lost hundreds of thousands (and maybe even millions) on them due to chargebacks. Many people buying them were using stolen credit cards. Why? Because they can easily sell them for a decent amount of cash. Credit card thieves are always looking for a way to "cash out" their stolen cards and unsuspecting small retailers are always a juicy target.

Stripe has almost NO fraud prevention measures built in the way that PayPal does. They do have SOME, but very few. They must find it cheaper to close the merchant accounts that attract the problems rather than stop the fraud on the front end.

So it is up to YOU to stop the fraud. Always use AVS verification and ONLY ship to that address. Even when you get the email using ten creative (or heartbreaking) reasons why they want you to ship it somewhere else. Yes, you will lose sales that way. But at least if it turns out the items were being bought with stolen credit cards, you will most likely get your merchandise back.

Don't be afraid to use whitepages.com and other such sites to check addresses yourself. You are NOT violating anyone's privacy by doing so. And if ANYTHING makes you uncomfortable with an order, just cancel it.

Bricks and mortar merchants rarely have to worry about this. If someone walks into Best Buy and uses a stolen card to buy a TV, the bank will cover Best Buy so they do not take a loss. That protection does not exist for online retailers. We have to eat the fraudulent charges. So you have to protect yourself to the best of your ability. And no matter what you do, you will STILL get hit with some fraudulent charges. That is just reality.

And for some industries, the rates of fraud are much higher. Cable descramblers, "legal high" drugs, drug paraphernalia dealers, get rick quick vendors, mobile phone refills, discounted electronics dealers, online gambling, e-currency converters, knock-off dealers, counterfeit dealers, forex trading and any category of retailer actively selling the latest "fad" products... All of these things (and more) have very high rates of fraud.

[ccwjames]

Originally Posted by unkown5454

just sounds like you all sell sketchy products. my accounts work fine.

yes kodi boxes that some 20000 other people sell, this was more a problem from the persons bank.

he has paid me the chargebacks plus a fee as a sorry for his bank

[aspkin]

In regards to fraud protection... Authorize.Net has it MUCH better then Stripe.

As Jeff said, Stripe is a tough one if you use it right out of the box.. it needs to be setup correctly to block the baddies.

Example: " [...] we strongly suggest that you modify your integration, so that you always tokenize the card details securely first. You would need to use Stripe.js [3] or Checkout [4] on the browser to send the card details to Stripe directly, without your servers ever having to see the raw information. Stripe will then send you back a unique card token (tok_XXX) that you could then use on your server to create a customer or charge. This integration will allows us to better block fraudulent charges on your account and will also ensure that your business is PCI compliant."

[rsot]

Originally Posted by unkown5454

just sounds like you all sell sketchy products. my accounts work fine.

That made me laugh unkown - good old reality check.

I used Stripe for consultation few years back - I remember thinking that the protection was not good against chargebacks or fraud

[unkown5454]

Originally Posted by rsot

That made me laugh unkown - good old reality check.

I used Stripe for consultation few years back - I remember thinking that the protection was not good against chargebacks or fraud

while the second statement is true, having a large amount of chargebacks is the fault of the seller. either your products or how you run your business.

[unkown5454]

Originally Posted by ccwjames

yes kodi boxes that some 20000 other people sell, this was more a problem from the persons bank.

he has paid me the chargebacks plus a fee as a sorry for his bank

that is an extremely small number and im sorry you mad because your product comes with lots of issues. get over it. you know the market you are in and im not gonna give you a business lesson

[ccwjames]

did i ask you for a business lesson? NO!
and i know what market am in, thank u

[hiresflicker]

Originally Posted by aspkin

In regards to fraud protection... Authorize.Net has it MUCH better then Stripe.

As Jeff said, Stripe is a tough one if you use it right out of the box.. it needs to be setup correctly to block the baddies.

Example: " [...] we strongly suggest that you modify your integration, so that you always tokenize the card details securely first. You would need to use Stripe.js [3] or Checkout [4] on the browser to send the card details to Stripe directly, without your servers ever having to see the raw information. Stripe will then send you back a unique card token (tok_XXX) that you could then use on your server to create a customer or charge. This integration will allows us to better block fraudulent charges on your account and will also ensure that your business is PCI compliant."

Is this information in your ebay stealth guide?