Anyone changed Stripe account to a new country and moved subscriptions?

#22

I got kicked by two personal bank accounts already because they didn’t agree with me explaining where the money comes from and One business account because they said I cannot prove my income!
Plus PayPal told me they will not ask in future, but have no real solutions. Also that is in a phone call with a higher up executive and not something really official. And I confirmed already with them that by the end of this year they will reach out to everyone for up to date proof of your business registration because KYC (know your customer) rules starting 1.1.2024 in EU will be identical to banks.

Oh yeah and that business account got frozen and luckily I only had not too much money on it because I had no more means of accessing the money. Money is gone before I can prove where it comes from which again they don’t accept.

The personal accounts where different because I could transfer my money out before they closed it. In those cases I had gotten emails please prove where that money is from otherwise we terminate your account by date XY .

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#23

This is really weird behavior. If you are in Europe, you can have accounts in any bank in any EU member and it should not matter.

They should also not care about how much money or where it comes from unless you have an insane flow. Yet, even if you do, it’s easy to prove you are running a business.

Try a Digital Bank.

Those banks also won’t open your bank account without your tax number, usually, on top of address proof etc. Stripe is also very picky about the documentation but they usually approve you if you have what they require.

Please double check what you can do (if you still can do anything) to prevent losing subscribers to (involuntary) churn due to your move.

#24

Wise kicked my business account because first they said I need to proof where my business income comes from. I then went to send them all PayPal and stripe statements (really anything, the same I send to my accountant) including Excel sheets showing the correlation to vat payments.
Then I sent my money directly to wise personal account from stripe and PayPal and they froze my business account. It’s still frozen luckily with little money inside since over 6 months. They require the business address and name to match their one. But I still run stripe and PayPal from Austria with my parents address where I’m registered too as secondary address. You cannot change that to another country. With stripe you can move subscriptions but see above s2member not possible. With PayPal there is no way.

Luckily I always kept a second bank account for my business. Banks that kicked my private account where those where the payout arrived and demanded proof where that money is from and also address/name mismatch = account closed (at least not frozen suddenly but we will close your account on day XX so I moved all money somewhere else before).

It used to be that payments below 8000 euros just passed. I think last year the regulations changed and now they complain about every payment from Paypal or stripe… There is no more lower limit. I still payout just below 8000 because who knows how quick they react for higher amounts but it’s getting more and more impossible.

Actually now for people leaving China and other countries due to political reasons their main problem is getting their money out. They used to use a Bitcoin bank in Spain that kinda legalized your money but now cannot change Bitcoin in higher amounts without needing to proof how you earned them and China forbids currency export so banks block it… now I know many Chinese who arrive with like 10 million RMB in cash and declare it on arrival (otherwise banks again cause stress if you cannot proof where it’s from). Governments don’t notice tax fraud, Money laundering and so on but it’s become virtually impossible to get that money into banks (now here is where some empty shops/restaurants will jump in for criminals…)

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#25

Wow! This is just awful! :rage:

#26

Btw, with the patch from the signup vars Moving accounts on stripe should work now. I moved back to Austria forcibly this year because banks made it impossible to transfer out money from stripe and PayPal to another domicile country. And I can impossibly ask all users to cancel and resubscribe.
Stripe would be solvable now, PayPal no dice as they still don’t allow to move accounts out of a country. Could only employ a third party to handle payments on your behalf.

I really would have preferred living in Cyprus and Taiwan instead of Austria but no way due to PayPal.

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#27

Oh no. Really? You can keep a business open in Austria and another wherever you live. Did you consider that possibility? Of course, it all depends on the size of your operations and what you’re willing to do manually.