If you recently received an email from Stripe informing you that your account has been closed and they hold your money for 90 days, you’re not alone. This article can help you get your website’s payment processing back online.
Stripe shutdown emails are sent to businesses of all types, from nutritional supplements, pipes, and glass, adult toys, and even online coaching businesses.
Why Stripe sends out closure emails
There are a few reasons why Stripe might terminate your account. Sometimes, it may be because your business is engaged in prohibited activities, such as selling goods or services on Stripe’s Prohibited and Restricted Business Type List. In other cases, it may be because your business has a high risk of chargebacks or fraud. Your perceived risk may be based on – fairly or not from your perspective – others in your industry and how they have historically managed their Stripe accounts.
If you think your account has been terminated in error, you can contact Stripe to request a review. However, it’s important to note that Stripe is not required to reinstate your account. If your account is terminated, you may need to find a new payment processor.
What to do if your Stripe account is terminated
If your Stripe account is terminated, here are some tips:
- Review Stripe’s prohibited list. Is your business prohibited from using Stripe? Find out by carefully reviewing their prohibited list here: https://stripe.com/legal/restricted-businesses
- Contact Stripe immediately if you think there is an error. If you think there was an error, you can request a review. The best way to do this is to log into your Stripe dashboard here https://dashboard.stripe.com/login.
- Find a new payment processor. You must find a new payment processor if your Stripe account is terminated for risk or prohibited activities like selling CBD, adult products, or weapons.
- Update your website and other online platforms. If you need us to set up a new payment processor, you must update your shopping cart to reflect your new payment processing credentials. We can help you do this.
- Export your rebills and recurring transaction data. If you maintain cardholder data for recurring billing or card-on-file accounts, you must export that information into a new payment gateway. This is also a service we assist with.
- Review your business practices. If your Stripe account was terminated due to a high risk of fraud, you might need to review your business practices to reduce future fraud risk. This may include implementing new security measures or partnering with a third-party fraud prevention service. We are happy to provide suggestions.
Organic Payment Gateways can help you accept credit cards again
If you received a Stripe closure email and need a new payment gateway/merchant account, we are happy to help you find the best solution for your business.
Contact us and tell us a little about your business by clicking the Start arrow at the bottom of this page. We will work hard to get you back up and running quickly.