Paypal froze $70k+ in my account.
- Thread starter schockergd
- Start date
It was for comparison. You could also get an interchange+fee merchant account at similar or better rates. The point is that Stripe's rates aren't competitive. Also, Stripe is similar to Paypal in that it isn't a real merchant account, so they have the ability to freeze funds as well.
And, of course, if you withdraw daily, it's a moot point.
Ok paypal sucks.
But people want paypal, whenever you give a paypal payment option your cart CR will grow, paypal is the "de facto" payment standard for the average online customer. If you don't give paypal option you are leaving money on the table.
It's sad but true, we have to deal with this.
Let's wait for bitcoin user adoption.
From a merchant view paypal is better than other processors.
I have been using stripe for a year, but whatever A/B test I try, stripe has a shitty CR, their fees are worse than paypal and their backend is not so excellent like many declare.
That's a "qualified rate", meaning it only applies to certain transactions. Ask them for "interchange plus" pricing, or you'll be disappointed.
This is absolutely true.
I'd be using Stripe to collect payment from clients for the most part, but I'd never exclude Paypal as an option in any instance for reasons stated in the quoted post.
I dropped a link to that tweet and this thread into the tip jars at:
Wired
VentureBeat
Techcrunch
arstechnica
dmnEPC mind if I reply to a quote with your quote?
Furthermore, you said it well yourself, kumansk
Just call them, in some cases I've had them unfreeze money right on the phone. If that doesn't work hire a lawyer to send them a letter and start a complaint with the BBB. Also hit up their twitter and facebook pages and let the world know they're scamming you out of $70k. I've always gotten a good response via social media.
You might not have to go the lawyer route after all: https://twitter.com/20YearBillions/status/405718675342110720
Stripe has never taken a nickle from me that they didn't deserve. I've run low 6 figures without having a single issue with them. You start dealing with these more traditional merchant accounts and they will rob you blind on the backend.
yeah but i can't be entirely oblivious to it. it's practical when using it within certain boundaries. they'd actually be great if they could find a way to manage this limitation thing more efficiently, especially seeing how it's affecting legit businesses.
Saw that they replied. Don't really have much to add, but best of luck to you. Sucks getting your stuff took.
Was going to suggest thigs
And that's why
Paypal and google cave so easily to social media pressure if you guys don't have an online presence then make friends with people who do and see how quickly you can get stuff like this overturned, assuming your account/transactions/clicks are in proper order of course. Just setup a blog with a engaging story about what happened (but don't directly beg for help), submit to hacker news, a few business/ecommerce subreddits, and maybe spend $100 buying tweets for it (All Sites | BuySellAds) and start reaching out to bloggers about it.