You know you have a killer product when your customers will literally fly half way around the world just to use it.
When I started my company (since acquired) in 2012, Stripe was so game changing I flew from Australia to the US to open a bank account so we could use it. While we could incorporate in the US online, we had to turn up in person at a bank to open an account.
The only alternatives in Australia at the time were PayPal, which had outrageous fees and a terrible experience for recurring SaaS billing, or a merchant account with a bank which was going to require a $30k deposit.
It cost me $750 to incorporate a US entity, $1250 for airfares and hotel (oh to remember SF was that affordable!!). I stayed at Hotel Whitcomb, which conveniently has a Chase branch right next door, and 1 day later we had a US bank account and could turn on our Stripe integration. We didn’t look back.
I love Stripe Atlas, because I intimately relate to the problem, and wish we had it in 2012.
Ha! Glad you were able to find a way. We still think it could be easier, even with Atlas and Australia support now. Would you be up to chat more? edwin@stripe.com
Chase! It must have been a while ago, because today Chase blocks your account at the mere whiff of anything non-standard going on. And I do mean "anything", being out of the country definitely qualifies. They also shoot first and ask questions later, so your wire transfers will get cancelled or your entire account blocked with incoming transfers bouncing (what is amazing is that the amount that bounces is less $50 that they take for the bouncing service, fun!).
My last wire transfer was "cancelled" by their anti-fraud people, and after calling them and identifying myself extensively, I was told that I am to show up at my local branch with two forms of ID. Yes, the same two forms of ID that they've already seen. Kind of difficult if you are out of the country.
When I started my company (since acquired) in 2012, Stripe was so game changing I flew from Australia to the US to open a bank account so we could use it. While we could incorporate in the US online, we had to turn up in person at a bank to open an account.
The only alternatives in Australia at the time were PayPal, which had outrageous fees and a terrible experience for recurring SaaS billing, or a merchant account with a bank which was going to require a $30k deposit.
It cost me $750 to incorporate a US entity, $1250 for airfares and hotel (oh to remember SF was that affordable!!). I stayed at Hotel Whitcomb, which conveniently has a Chase branch right next door, and 1 day later we had a US bank account and could turn on our Stripe integration. We didn’t look back.
I love Stripe Atlas, because I intimately relate to the problem, and wish we had it in 2012.