[JoshuaRowe]

They don't even really specify this in their link in the email sent, but I am getting this error when going to my dashboard now:

Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a private mailbox. Please correct the following...

So now, I have to find a new business address (either rent a place, or do a virtual office), which isn't as simple as just getting a new address. I then have to update every single account online or in person that uses it, and officially ask my state's SoS to update my biz info. There is probably other stuff I am not even thinking of in this moment as well. In addition, Stripe wants me to get a new biz address before March 13th or "payouts" will be impacted. Not processing! They are happy to use my money to make money for themselves and hold it like they have done to others in the past indefinitely.

This is all probably related to CTA and BOI changes that began this year that are seemingly affecting small biz more than the corporate entities that this bill supposedly was about.

https://home.treasury.gov/news/press-releases/jy1974

https://www.fincen.gov/boi

Once again, Thanks Stripe. It's been real, but it's probably time to move on.

[cj]

This is the message I see in my account:

> Invalid address. Your business address must be a valid physical address from which you conduct business and cannot be a P.O. Box. This address is not shared publicly and can be your personal address. You may use a P.O. Box as your customer support address.

So in other words, a personal home address should work.

Although its odd your error message is seemingly saying a personal address doesn't work, unless "private mailbox" means a privately rented commercial box, like UPS

[Shank]

> Although its odd your error message is seemingly saying a personal address doesn't work, unless "private mailbox" means a privately rented commercial box, like UPS.

Yeah, services like Earth Class Mail specifically hand out addresses that say "PMB XXXXXXXX" where PMB is "Private Mail Box".

[bonton89]

> This address is not shared publicly and can be your personal address.

But who will it be sold to privately?

[fragmede]

> Once again, Thanks Stripe. It's been real, but it's probably time to move on.

I don't follow. The CTA and BOI things you linked to are from the (US) government, so everybody else has to force you to do the same thing. Are you just shooting the messenger here?

[JoshuaRowe]

The separation of personal and biz addresses is an important concept in owning a business. Not only for privacy, but for proving the biz is a separate entity and such. This is probably one of 2 - 3 recent changes that they have imposed on my biz, all without seemingly any lead time. 15 days isn't really a lot of lead time to change your business address when you are over capacity already and have to (or would much prefer to) focus on things that actually make money. The one previously was a change that turned me previously paying $0 a month to over $60 (maybe $80 or more depending on volume) for the same feature set. Once again, without notice. Having a UPS box has for years been recognized as a legitimate way to have a biz address as well. Just not USPS PO boxes. The CTA and BOI legislation doesn't impose restrictions on that as far as I know, but Stripe does? My bank accepts my business address as a UPS box, but Stripe doesn't? That doesn't seem right. The CTA and BOI are more closely aligned with the banking secrecy act, which is just uncle sam wanting to know that a real person with a residential address owns a given bank account to prevent money laundering etc.

[elzbardico]

There are competitors to stripe. Why people keep submitting themselves to their abuse is beyond my comprehension.

[chatmasta]

Do these competitors need to follow a different set of KYC/AML regulations than Stripe?

[drpossum]

This "abuse" and all the half dozen other "look at this abuse this <company I do financial transactions with> is now doing" in the last few days is actually maybe due to some new requirements effective Jan 1 2024 in the US that entities that do business here have beneficiaries registered https://www.federalregister.gov/documents/2022/09/30/2022-21...

[42droids]

Would be interested in a list of the competition. (too lazy to do my own research)