Blacklisted from Stripe - I'm on the MATCH list.. What now?

[SasuT]

Hey
In 2020 I had a little dropshipping store running, I didn't enable 3DS or any security to reduce fraud risk and at some point I had a massive streak of fraudulent payments for a total of 20k$. All that got chargeback. Stripe account got terminated and since this day it seems that I'm blacklisted.

2022 I got back into business, I developed a SaaS and tried to open a Stripe account to process payment : Instant blocked.
Tried Square (another payment processor) : Accepted, been using it for a year but got terminated a few days ago. (Processed over 8000 payments and only 0.4% of chargeback).

In the meantime, in July 2023 I moved to UAE, and tried to open a Stripe account here (I thought "Well it's Stripe UAE.. Maybe they forgot me this time"). It worked fine until a few days ago (one day after Square shut down). Terminated.

I'm now with 2 other payment processors in UAE and it works fine, but I'm afraid that I'll be blocked anytime soon, even if my business is legit, not high risk, with very low chargeback. Because I'm probably on the MATCH list since 2020 I guess. So maybe Square saw it "too late" and same for Stripe UAE, they maybe noticed it only months after my registration, I don't know.

Anyway, let's say I'm on the MATCH list and I can't use any payment processors. What options do I have to keep accepting payments ?

Nominee UK LTD + Stripe ?

For now I'm fine with my new UAE payment processor, but I'm looking for backups in case I'm really on this MATCH list (means I'm gonna get blocked soon if it's the case). Thanks.

 

[Sols]

The processor that put you on the list can in some cases remove you from the list, if you manage to convince them that it was a genuine mistake that you have learned from and won't repeat. But knowing Stripe and seeing as it's been 3–4 years by now, it might not go anywhere. The good news is you're likely not going to be on the list for much longer. In a couple of years, the record is probably expunged.

In the meantime, you can only open your own merchant accounts without your name appearing as director, shareholder, user, or UBO.

 

[wellington]

Does data get expunged then?

 

[Sols]

Does data get expunged then?

It depends on the reason and severity of what happened. If it was a simple case of excessive chargeback and no other wrongdoing, the record usually goes away after/within five years.

If you've been very naughty, it can stay longer or indefinitely.

 

[Jerry1911]

Open a new company/Stripe account in the name of one of your family members.

 

[clemens]

Nominee director and shareholder for UK LTD and move on. IF you owe them 20$K + fines you will see that you never will get off the list the next 15 years. I made same mistake, was with a bigger amount, that is 16 years ago, still on the list, can't get a merchant account.

I solve the problem with what I suggested years ago, working fine.

 

[SasuT]

Thanks for the answers.

By the way, Stripe blocked me + told me they will refund the payments to my customers. Will they only use my remaining balance to refund ? (10k) or they’ll also take money from my bank account?

Payments refunded are only the last ones before closure or ALL the payments lifetime?

Thanks

 

[Sols]

By the way, Stripe blocked me + told me they will refund the payments to my customers. Will they only use my remaining balance to refund ? (10k) or they’ll also take money from my bank account?

They will first take from the available balance on the merchant account. If there isn't enough there, they may try to take it from your bank account. If you gave them a direct debit mandate, they might try to pull the money from your account.

Payments refunded are only the last ones before closure or ALL the payments lifetime?

Probably just the ones that you haven't been paid for yet.

 

[SasuT]

They will first take from the available balance on the merchant account. If there isn't enough there, they may try to take it from your bank account. If you gave them a direct debit mandate, they might try to pull the money from your account.


Probably just the ones that you haven't been paid for yet.

I'm a bit paranoid so I checked by curiosity:

If you try to open a Stripe account for a UK or EU business, it says you this about the bank account :

(so you agree that they can take funds from your bank account)

But then I tried with a UAE business, and there is no mention of that. Only the field to put the IBAN to receive funds. So maybe they don't have the right/power to take funds from UAE banks.

---

I was just paranoid because it's ok if they refund my last customers that I didn't get paid for, I'll get the money back from them with another processor. But what if they choose to refund everyone since the opening of the account and withdraw +200K from my bank account lol

Anyway, I should be safe. Now time to get a nominee + uk ltd I guess.

 

[uplana]

You want to consult @MichaelUniq from unique payment he may be able to help you with some solution.

 

[Dandyline]

Hey
In 2020 I had a little dropshipping store running, I didn't enable 3DS or any security to reduce fraud risk and at some point I had a massive streak of fraudulent payments for a total of 20k$. All that got chargeback. Stripe account got terminated and since this day it seems that I'm blacklisted.

2022 I got back into business, I developed a SaaS and tried to open a Stripe account to process payment : Instant blocked.
Tried Square (another payment processor) : Accepted, been using it for a year but got terminated a few days ago. (Processed over 8000 payments and only 0.4% of chargeback).

In the meantime, in July 2023 I moved to UAE, and tried to open a Stripe account here (I thought "Well it's Stripe UAE.. Maybe they forgot me this time"). It worked fine until a few days ago (one day after Square shut down). Terminated.

I'm now with 2 other payment processors in UAE and it works fine, but I'm afraid that I'll be blocked anytime soon, even if my business is legit, not high risk, with very low chargeback. Because I'm probably on the MATCH list since 2020 I guess. So maybe Square saw it "too late" and same for Stripe UAE, they maybe noticed it only months after my registration, I don't know.

Anyway, let's say I'm on the MATCH list and I can't use any payment processors. What options do I have to keep accepting payments ?

Nominee UK LTD + Stripe ?

For now I'm fine with my new UAE payment processor, but I'm looking for backups in case I'm really on this MATCH list (means I'm gonna get blocked soon if it's the case). Thanks.

Question is what data they use to identify you, they cant identify you by your name only. Do you use the same passport/ID for verification?

 

[SasuT]

Question is what data they use to identify you, they cant identify you by your name only. Do you use the same passport/ID for verification?

I think match list is a combination of name, date of birth, nationality.. aswell as company infos.

Hard to « bypass » with the same identity

 

[Dandyline]

I think match list is a combination of name, date of birth, nationality.. aswell as company infos.

Hard to « bypass » with the same identity

Easy to bypass, just change your name, get a new passport, then change back.

 

[Sols]

Easy to bypass, just change your name, get a new passport, then change back.

I think you and the rest of the world have very different definitions of what "easy" means, but I admire your tenacity.

 

[JohnnyDoe]

I think you and the rest of the world have very different definitions of what "easy" means, but I admire your tenacity.

It’s easy to change name and nationality, a bit harder to change appearance. But I’m working on it:

 

[Sols]

It’s easy to change name and nationality, a bit harder to change appearance. But I’m working on it:

I don't think that's real. It looks nothing like your profile pic.

 

[polonieth]

Hey
In 2020 I had a little dropshipping store running, I didn't enable 3DS or any security to reduce fraud risk and at some point I had a massive streak of fraudulent payments for a total of 20k$. All that got chargeback. Stripe account got terminated and since this day it seems that I'm blacklisted.

2022 I got back into business, I developed a SaaS and tried to open a Stripe account to process payment : Instant blocked.
Tried Square (another payment processor) : Accepted, been using it for a year but got terminated a few days ago. (Processed over 8000 payments and only 0.4% of chargeback).

In the meantime, in July 2023 I moved to UAE, and tried to open a Stripe account here (I thought "Well it's Stripe UAE.. Maybe they forgot me this time"). It worked fine until a few days ago (one day after Square shut down). Terminated.

I'm now with 2 other payment processors in UAE and it works fine, but I'm afraid that I'll be blocked anytime soon, even if my business is legit, not high risk, with very low chargeback. Because I'm probably on the MATCH list since 2020 I guess. So maybe Square saw it "too late" and same for Stripe UAE, they maybe noticed it only months after my registration, I don't know.

Anyway, let's say I'm on the MATCH list and I can't use any payment processors. What options do I have to keep accepting payments ?

Nominee UK LTD + Stripe ?

For now I'm fine with my new UAE payment processor, but I'm looking for backups in case I'm really on this MATCH list (means I'm gonna get blocked soon if it's the case). Thanks.

I am surprised Stripe let $20k of fraudulent payments through; they are normally pretty good at blocking obvious ones.

 

[EliasIT]

Nominee director and shareholder for UK LTD and move on. IF you owe them 20$K + fines you will see that you never will get off the list the next 15 years. I made same mistake, was with a bigger amount, that is 16 years ago, still on the list, can't get a merchant account.

I solve the problem with what I suggested years ago, working fine.

What you need to do in your case, OP, is to set up a completely new company without your name appearing anywhere. You need to ensure that the company also has a website that is compliant with all Visa/MC rules, and then you need to have all the KYC documents ready from the director and shareholder.

You can find a detailed guide in the thread below, which you'll find in the mentor group gold:

Unlock the Gates of Success: Mentor Group Gold!

If you see this message it means you need to upgrade your account to Mentor Group Gold to read the content.

www.offshorecorptalk.com

 

[CoinMaster]

It’s easy to change name and nationality, a bit harder to change appearance. But I’m working on it:

View attachment 5942

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