Today I received an email from Stripe stating the following:
" |We’re writing to let you know that we have noticed an increase in customer refunds and disputes in businesses operating in your industry. Unfortunately, to help ensure that your customers can get timely access to refunds and chargebacks, we’ll need to change the payout schedule for your Stripe account for Blackwatch Performance LLC. Starting today, your funds will be made available to be paid out 14 days after a payment is accepted.||
||Given the recent increase in customer refunds and chargebacks in your industry, your business is deemed to be at higher risk of customer disputes. Delaying your payout schedule helps protect Stripe and your customers by ensuring that there are enough funds in your account at all times to cover any disputes which may arise.||
You can view a list of all of your payouts and the date(s) that they are expected to be received in your bank account in your Dashboard. You will also find more information about payout schedules in our Payout Docs. "
Upon reaching out to Stripe they stated over the phone “Practiscore users have had a large percentage of disputed sales and have now been determined to be High Risk, do to this fact your funds will be released after a 14 day holding period.” I stated that I have a No Refund policy as my cost is incumbent on the number of attendees. Them: “We are sorry or merchant guidelines and policy do not support venders having a No Refund policy.”
Let me know if anyone else has received this notice.