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Stripe Atlas Program Complaint - STRIPE - Silicon Valley Bank
Stripe Atlas Program Complaint

Stripe Atlas Program Complaint


STRIPE - Silicon Valley Bank

We would hereby like to provide details of how Stripe scammed us and took away our money $500 which they charged for Stripe Atlas Program .

We paid a fees of $500 to Stripe Atlas, for their program where they help an internet business like ours to setup a US bank account, Stripe payment gateway and C-corporation registered in the state of Delaware, USA.

We were asked to provide details about our services, website, etc. which we did and after few weeks they approved our application and charged us $500 on 19th October 2017.

We started using the account for our business requirements only the end of January, 2018 and just after 3 transactions, they cancelled our Stipe payment gateway and US bank account.

When we contacted them they said that they consider our services as high risk services and can't provide us their services anymore. Even though they had reviewed our business earlier. We provide digital marketing and web development services.

We told them that in the last 24 months of our operations, we had just one client who asked for a partial refund, and we happily refunded him. So how come our services fall in the category of "high risk businesses". Mentioned below is their response:

While I greatly appreciate your interest in Stripe, I'm afraid we must go by our banking partners' definitions when it comes to what falls under this category. According to them, web development and digital marketing does fall under the umbrella of computer technical support services, therefore we are unable to offer our services to you.

As we had hardly used their services and they are denying us its use any further, so we asked them for a refund of $500 which we paid them exclusively as a setup cost for their services. They denied us any refund. And here is their shitty response:

While we are unable to refund the $500 Stripe Atlas fee, on a more positive note, you are not limited to using Stripe as a payment processor.

This is clearly a case of fraud and they may have done this with other business owners too.

Apart from the $500 paid to them as setup fees, we also paid $25 per month as a maintaince fees of silicon valley bank account provided by them, and $800 fees for an accountant to file our taxes.

Stripe along with Silicon Valley Bank is running a fraudulent scheme to scam entrepreneurs. They will approve your application and charge you a hefty fees. And then in just few months, they will give you a silly reason and cancel your accounts.

My question here is, why the fuck do they need to keep our $500, charged for providing us services which they are clearly denying to provide us any longer. We don't want to continue doing business with these unethical bastards but want our money back.

They also don't provide phone support and any email you write to them will be answered in 24-36 hours with copy/paste responses.

These is our hard earned money and they literally stole it. Don't get scammed by them and share this with others, to ensure that others don't fall in this trap run by Stripe.

Stripe Atlas URL https://stripe.com/atlas
Silicon Valley Bank https://www.svb.com/

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