Stripe For Unsupported Countries (Solution: Stripe + Transferwise)

daniel-97

Well-Known Member
Hi Daniel, was the LLC you used to register for Stripe registered in the US or UK and is there any advantage with registering in the US? Thanks.
I didn't need to register for an LLC. But if you create a US account, you'll need to.

The advantage of a US account is you won't have to pay for the currency conversion fee. Because my store charges in USD but my Stripe is in GPB, hence the conversion fees
 

Kimy

New Member
I tested and successfully integrated Stripe to my website and with the help of some friends, did some tests and all the payments went through. Here's what I did:

Step 1: Register for Transferwise's Multi-currency Account (link)
- Register a Personal account (or Business if you want to fill out documents)
- At the "Receive and hold money" section, hit Get started
- Follow the instructions, create a Personal account and fill in your correct info (your country, phone number, ...)
*The link above is an affiliate link, you and me both will get perks

Step 2: Choose the balance you want to get the bank information (I chose GBP)
- They won't let you see the bank information unless you verify by adding money and uploading your passport/ID/...
- Add at least GBP 20 to the account. The money is still yours, they don't take anything except for a small fee
- Transferwise's fees are very low compairing to other banks, check their real time fees here.
- After adding GBP 20 and verifying your identity, every balances will be available for you to choose
Note: Not every country can open a US balance, check their list here.

Step 3: Creating a Stripe account and verify it
- Follow this link: https://dashboard.stripe.com/register
- Verify your business, I used my main address, but for the Zip code and country, I used the bank's details from Transferwise
- Input the bank details you got from Transferwise
- For British accounts, you won't need any tax ID or anything ;)
- Go to Google and get a random UK number
- Turn on 2FA by downloading Google Authenticator app on your phone

Step 4 (optional): Stripe will send an email saying they can't verify your address and personal ID
- Simply click "Update information" in the email
- Upload a valid identity document (I chose Passport - it has my country on it, but they accepted it anyway)
- After some days (I forgot to check, it was weekend for me), your account should has a banner saying this

DONE! Now you can get your API to put them on your Alidropship's Setting
________________________________________
Extra Information:
- TEST API
cards for you to test them: https://stripe.com/docs/testing
- LIVE API: use this when you want to go live and receive money. After you copied it, after 1-2 days, the code will be deleted from your dashboard, so make sure you do this carefully or you'll need to contact them for a new code
- If they ever ask for a proof of address, just take a picture of your address, I heard it works normally
- For customers from Europe, you will need to turn on SCA (Secure Customer Authentication), it will redirect customers to Stripe's page to use their cards

Hope this thread helps!
Hi Daniel-97,
I am new to this, I have a question about Stripe. i have been chatting with Stripe help chat and not able to get an answer to my problem. It states that if the customer pays using their US Credit card, they will have to bear the bank fees or conversion fees etc. How is that possible? I am based in Australia and therefore my Stripe account is in AUD. How do I change or accept USD payments? I also have a personal Transfer wise account. I am not able to figure out what you have listed on your post to do with the Strip and Transfer wise account. Would you be able to explain it to me? I am ever so grateful for your help!
 

daniel-97

Well-Known Member
Hi Daniel-97,
I am new to this, I have a question about Stripe. i have been chatting with Stripe help chat and not able to get an answer to my problem. It states that if the customer pays using their US Credit card, they will have to bear the bank fees or conversion fees etc. How is that possible? I am based in Australia and therefore my Stripe account is in AUD. How do I change or accept USD payments?
Hi Kimy,

Firstly,
my Stripe account is in GBP (British Pounds) and my store charges in USD. When the customers paid, they will be charged in USD and Stripe will convert USD into GBP in my account (AUD in yours) and YOU will bear the fees.

This is one of the payments I received from my customers in Stripe. I hid some info for obvious reasons ;)

1637742248835.png
I also have a personal Transfer wise account. I am not able to figure out what you have listed on your post to do with the Strip and Transfer wise account. Would you be able to explain it to me? I am ever so grateful for your help!
Secondly, about your Wise account. If you were able to create Stripe account, you have to input your bank account into it first. I'm a bit confused here about your question :) It would be nice if you can be a bit more specific
 

Kimy

New Member
Hi Kimy,

Firstly, my Stripe account is in GBP (British Pounds) and my store charges in USD. When the customers paid, they will be charged in USD and Stripe will convert USD into GBP in my account (AUD in yours) and YOU will bear the fees.

This is one of the payments I received from my customers in Stripe. I hid some info for obvious reasons ;)

View attachment 15491

Secondly, about your Wise account. If you were able to create Stripe account, you have to input your bank account into it first. I'm a bit confused here about your question :) It would be nice if you can be a bit more specific
Hi Daniel-97,
Thank you so much for your explanation! I really appreciate you taking your time to assist me.
With regards to the second question, my reason for reaching out to you because I was informed by a Stripe customer service person this -

"The only thing here is that, if the charge currency differs from the customer’s credit card currency, the customer may be charged a foreign exchange fee by their credit card company. The customer may also be charged a fee by their credit card company if the credit card and your business are in different countries, regardless of the currency used"

Another question, can anyone use GBP as their base currency in Stripe even if they are not living in the UK?
Apologies for the ignorance.
 

chris37

Well-Known Member
The only thing here is that, if the charge currency differs from the customer’s credit card currency, the customer may be charged a foreign exchange fee by their credit card company. The customer may also be charged a fee by their credit card company if the credit card and your business are in different countries, regardless of the currency used"

Absolutely true.

Your customers if they use a credit or debit card that doesn’t have this kind of free exchange fee, they will pay it. (this happened with almost all of the payment gateways)

Another question, can anyone use GBP as their base currency in Stripe even if they are not living in the UK?

Yes they can ( if they ask you for any confirmation address then please any UK friend of your to rend you a postbox and give you the address)
 
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