Last updated: August 22, 2022
These Stripe Payments Company Terms (“SPC Terms”) form a legal agreement between Stripe Payments Company (“SPC”) and the entity or sole proprietor on whose behalf a Stripe account is created (“you” and “your”). SPC is a U.S. state-licensed money transmitter and federally registered money services business. These SPC Terms are effective upon the date you first access or use the SPC Services and continue until these SPC Terms terminate.
Certain Services may involve regulated money transmission under U.S. Law. To the extent your use of the Services involves money transmission or other regulated services under U.S. Law, those services are the “SPC Services” and are provided to you by SPC, not by Stripe or any other Stripe Affiliate, unless applicable Services Terms specify otherwise. These SPC Terms state the terms and conditions that apply to your use of the SPC Services.
1. Relationship to Stripe Services Agreement.
In addition to these SPC Terms, you must also have a Stripe Services Agreement in place with Stripe for technology services that enable instructions to be relayed to SPC. SPC will not charge you fees for the provision of the SPC Services; fees payable for the Services (including technology services related to the SPC Services) will be determined under the Stripe Services Agreement.
1.1 Terms that Apply to You.
You expressly agree to the terms and conditions of these SPC Terms, the Stripe Services Agreement, and any updates or modifications to either of those documents made from time to time by SPC or Stripe. Undefined capitalized terms used in these SPC Terms have the meanings given to them in the Stripe Services Agreement. You represent as of the Effective Date, and warrant at all times during the Term, that all of the information that you provide to SPC directly or through your use of the Services is accurate and complete, and that you are authorized to agree to these SPC Terms.
1.2 Incorporation of Stripe Services Agreement.
These SPC Terms are Financial Services Terms under the Stripe Services Agreement. These SPC Terms incorporate by this reference the terms of the Stripe Services Agreement, including the terms incorporated within the Stripe Services Agreement; except, for purposes of the SPC Services, each reference to "Stripe" in the Stripe Services Agreement will be read as a reference to SPC, each reference to “Agreement” in the Stripe Services Agreement will be read to include these SPC Terms, and the incorporated terms will be limited to the SPC Services. All other parts of the Services will remain governed by the Stripe Services Agreement between you and Stripe.
To the extent there is a conflict between the Stripe Services Agreement and these SPC Terms, these SPC Terms will prevail with respect to the SPC Services. In addition, to the extent there is a conflict between applicable Services Terms and these SPC Terms with respect to the SPC Services, the applicable Services Terms will prevail.
2. The SPC Services.
2.1 Ability to Instruct SPC.
By using the Stripe API or your Stripe Dashboard, you may use the Services to send instructions to SPC to add funds to and redeem funds from accounts that you maintain with SPC and to transfer funds to third parties or to yourself.
2.2 Adding funds.
(a) Methods of Adding Funds. You may add funds to accounts you maintain with SPC from User Bank Accounts or accounts you maintain with SPC or its Affiliate through one or more methods. Depending on the Services available to you, these methods may include bank transfers, payment cards, transfers from other accounts you maintain with Stripe or its Affiliate, or other methods we may make available. You may pass information to SPC and its Affiliates for purposes of adding funds to accounts that you maintain with SPC, including bank account information, payment card numbers, cardholder names, or other applicable information. When you provide this information, you represent as of the date you provide it, and warrant at all times during the Term, that the information is correct and that you are authorized to access and transmit those funds. You authorize SPC and its Affiliates to use this information to initiate debits to your User Bank Accounts or accounts you maintain with SPC or its Affiliate.
(b) Debit Authorizations. With respect to bank transfers, you authorize SPC and its Affiliates to debit each User Bank Account without separate notice, and according to the applicable User Bank Account Debit Authorization, to add or transfer funds to accounts you maintain with SPC. SPC and its Affiliates may rely on this authorization to make one or more debits to add or transfer funds. This debit authorization will remain in full force and effect until all of the accounts you maintain with SPC are closed. If applicable debit scheme authorization rules grant you the right to revoke your debit authorization, then to the extent Law permits, you waive that right.
2.3 Transferring or redeeming funds.
You may instruct SPC to redeem funds from accounts you maintain with SPC and to transfer funds to third parties or to yourself. Depending on the Services available to you, you may transfer or redeem funds from User Bank Accounts or accounts you maintain with SPC or its Affiliate. You may provide transfer or redemption instructions to SPC and its Affiliates, including information to identify your intended recipient, the date on which you would like your transfer or redemption to occur, and the currency amount of the transfer or redemption. SPC will use this information to attempt to complete the requested transfer or redemption.
2.4 SPC's obligation to transfer or redeem funds.
SPC will attempt to transfer or redeem funds as you instruct. SPC will return to you any funds that cannot be transferred or redeemed per your instructions, subject to the following conditions. Depending on the information you provide, and your other use of the SPC Services and the Services, you agree to allow SPC to pause or terminate any transfers or redemptions for illegal activity, fraud, risk or compliance purposes, which may include (a) withholding funds to offset chargeback or other fraud losses owed to SPC or its Affiliate; (b) interdicting funds for legal or compliance purposes, such as to comply with U.S. sanctions obligations; and (c) suspending your use of the SPC Services.
2.5 Pooled Accounts.
SPC will hold all funds it receives from you for the purpose of adding funds to accounts you maintain with SPC or transferring funds to third parties or to yourself, together with funds SPC holds for other users and will credit your funds to pooled accounts at one or more Financial Partners. SPC will hold your funds for your benefit, and neither SPC nor Stripe will voluntarily make those funds available to creditors in the event of bankruptcy. Depending on where your business is headquartered, additional protections may apply to the funds under your state’s money transmission laws.
2.6 Investment of Funds.
To the extent Law, the applicable Financial Services Terms and applicable Services Terms permit: (a) SPC may invest the funds that it holds in pooled accounts into liquid investments; (b) SPC owns the earnings from these investments; and (c) you irrevocably assign to SPC all rights you have (if any) to earnings from these investments.
2.7 Your use of SPC Services.
You may not use the SPC Services for illegal activities or for any of the business activities found on the Restricted Business List.
2.8 SPC privacy practices.
3. SPC Services not available for personal, family, or household use.
You may not use the SPC Services for personal, family, or household use, unless applicable Services Terms specify otherwise. By using the SPC Services, you represent as of the Effective Date and warrant at all times during the Term that you are a legal entity or a sole proprietor.
4. Allocation of liability and dispute resolution.
Without limiting the general incorporation of the Stripe Services Agreement, please ensure that you carefully review the following provisions:
(a) Sections 5, 10, 11 and 12 of the General Terms, which allocate responsibility and liability between you and SPC with respect to matters arising under these SPC Terms; and
(b) Section 13 of the General Terms, which provides that a dispute, claim or controversy arising out of or relating to statutory or common law claims, the breach, termination, enforcement, interpretation or validity of any provision of these SPC Terms, and the determination of the scope or applicability of your agreement to arbitrate any dispute, claim or controversy originating from these SPC Terms, but specifically excluding any dispute principally related to either party's IP Rights (which will be resolved in litigation before the United States District Court for the Northern District of California), will be determined by arbitration in San Francisco, California before a single arbitrator.
These SPC Terms automatically terminate if the Stripe Services Agreement terminates for any reason.
6. Contact and complaints.
You can contact SPC at https://stripe.com/contact or by mail to Stripe Payments Company, 354 Oyster Point Boulevard, South San Francisco, California, 94080. SPC may provide you with information and notifications in relation to the SPC Services via your Stripe Dashboard.