How I fixed the deadly Stripe ban

Summary

In this video, Eddie shares his experience dealing with Stripe's unexpected account closures and refund policies. He details the steps he took to successfully appeal and restore his account, despite Stripe's initial automatic rejection. Eddie emphasizes the importance of creating public pressure on social media and provides a detailed strategy for gathering and submitting evidence to convince Stripe of a legitimate business. He also offers additional tips on managing disputes and transitioning to safer payment processors to avoid future issues.

Takeaways

• 😨 Eddie experienced a stressful situation where Stripe closed his account and he feared losing all his money.
• 🤔 He advises against filling out Stripe's appeal form as it is often automatically declined without review.
• 📢 Eddie suggests creating a public scene on social media platforms like Twitter and Facebook to draw attention to the issue.
• 💌 He recommends directly messaging Stripe on various platforms and sending emails to their support addresses.
• 📝 In messages, Eddie emphasizes the need to sound dramatic and mention the possibility of legal action or contacting the Better Business Bureau.
• 📦 When asked for more information, providing detailed documentation like inventory pictures, invoices, and tracking numbers is crucial.
• 📷 Photos should show branded packaging, inventory, and handwritten notes with the date and store name to appear legitimate.
• 🔍 Eddie advises avoiding mentioning China in tracking information and to use 'Last Mile' tracking numbers instead.
• 💻 He suggests providing screenshots of fulfilled orders from Shopify and other proof of business legitimacy.
• 🏦 Offer additional documentation like bank statements and screenshots of low dispute rates from other accounts.
• 🙏 Finally, express passion for the business, a history of low chargeback rates, and a plea for account reactivation, mentioning the possibility of legal action if necessary.

Q & A

What issue did Eddie face with Stripe?

Eddie faced the issue of Stripe closing his account and wanting to refund all his customers without a clear reason.

How did Eddie initially react to Stripe's actions?

Eddie initially panicked, fearing that Stripe would take all his money.

What was Eddie's strategy to convince Stripe to give him another chance?

Eddie's strategy involved arguing with Stripe, causing drama on social media, and messaging them on various platforms.

Why should one avoid filling out the appeal form on Stripe according to Eddie?

Eddie suggests avoiding the appeal form because it is often automatically declined by Stripe's algorithm without actual review.

What social media platforms did Eddie recommend using to create awareness about the issue?

Eddie recommended using Twitter and Facebook to comment on Stripe's posts and create a public outcry.

What should one include in the direct messages to Stripe according to Eddie?

In the direct messages, one should explain the situation dramatically, mention the possibility of legal action, and highlight the potential for an algorithmic mistake.

What kind of evidence did Eddie suggest providing to Stripe to prove the legitimacy of the business?

Eddie suggested providing pictures of inventory, invoices, tracking numbers, company documents, and screenshots of fulfilled orders on Shopify.

Why is it important to show Last Mile tracking numbers instead of Chinese tracking numbers to Stripe?

Last Mile tracking numbers are more credible as they show up on official carrier websites like USPS, indicating actual delivery, whereas Chinese tracking numbers might not be as reliable.

What is the significance of providing a screenshot of fulfilled orders from Shopify?

The screenshot serves as proof of the business's legitimacy and shows that the business has a history of fulfilling orders.

What advice does Eddie give regarding the use of Shopify Payments as an alternative to Stripe?

Eddie advises processing a significant amount of money through Stripe first before switching to Shopify Payments to reduce the risk of account suspension.

What is the final step Eddie suggests after sending all the requested information to Stripe?

Eddie suggests sending a passionate message explaining the business's history, low dispute rates, and a plea for account reactivation, mentioning the possibility of legal action if necessary.