Stripe - Revert back to one Stripe Bank Account in Xero rather than requiring two accounts
Last week, against my wishes (and against Xero Support's own knowledge), Xero System Generated a second Stripe bank account in Xero.
I already had a Stripe bank account in Xero that was working fine, it had a bank feed for payments processed via Stripe from other software, and it would have the bank feed and create the payment and fee Xero transactions for payments processed via Stripe on Xero invoices.
I don't want two separate Stripe bank accounts in Xero for my one Stripe AUD account.
Why does Xero do unhelpful things like this?
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Diane Stephenson commented
Same, I need them to use the previous acct from Stripe not the one they just created that isn't working. This is causing issues with members that can't pay cause Stripe needs to verify my business. Please fix and go back to my old acct.
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Jonathan Loake commented
It's like they're actively looking for things which work well in order to ruin in it for everyone. I'm used to every new xero update to be worse than what came before it, but now they've managed to get their incompetent hands on stripe!
Did you like having everything all on one Stripe account? Of course you did, it is the simplest solution. Who is it benefiting now having to look for transactions on 2 different accounts?
Xero will probably do a drive-by gaslighting reply assuring us that the change is now somehow faster and more secure.
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Kate Marston commented
Yes I had no knowledge of a change. It just happened. What I've also noticed is that I have received two payouts from Stripe to our bank account today. One from our original Stripe account managing website transactions and one from the new Xero Stripe account rather than being combined in one payout as they would have historically been. Therefore Metro Bank is charging a fee PER incoming payments. We effectively have been charged twice from the bank to receive Stripe payouts! Clearly all the financial organisations are in this together to squeeze more money out of small businesses.
I contacted Stripe about this and they say it's a Xero issue!
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Vicki Kenny commented
I agree - when i log into my original Stripe account I don't see the Xero invoice payments which is very annoying as I need access to this new stripe account for Zap access and also to enable refunds. It looks like https://central.xero.com/s/article/About-our-Stipe-partnership in your screenshot has disappeared
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Danietta Janse van Noordwyk commented
I dont have the time or inclination to have to go and recreate my whole pricing / subscription base in a new platform for which I did not ask. Please let me know what is going on @Xero, why did we get migrated and what are we supposed to do?
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Danietta Janse van Noordwyk commented
When I asked about keeping my history on Reporting side on Stripe they responded with:
I appreciate you reaching out, and I understand the importance of preserving your payment history when migrating to a new platform account.
Yes, it's possible to retain your payment history even after migrating. You can access your payment history through the Stripe Dashboard and API, although it's crucial to note that Stripe doesn't automatically export your account's payment history. Instead, you can utilize the API or Dashboard to retrieve this information.
To maintain payment history during the migration, you'll need to handle the data migration process and recreate settings in the new Stripe account. Here are the steps to guide you:
"Request a PAN data import from your current processor, transferring customer payment details to Stripe. Subscriptions need to be recreated separately.
Notify Stripe once the data transfer is initiated to import customer payment details.
Remap Customer records on your end after the migration using the provided import mapping file.
Recreate settings in your new Stripe account, ensuring consistency with the previous account, including team members, API keys, subscription settings, bank accounts, payout settings, webhooks, applications, and email notifications.
By following these steps, you can successfully migrate your payment history to the new platform account, facilitating a seamless transition.
In the meantime, if you have any additional questions or need further assistance, feel free to contact me. I'm here to help." -
Danietta Janse van Noordwyk commented
This is the feedback I received from Stripe:
"Thanks for circling back. I totally understand the importance of being notified of any changes on our account as it can affect one's business.
Checking here, your account was created from acct_16iRPsCv6deoJBoz, where both your new and old accounts are being managed by a platform (Xero).
Having said that and to answer your question as to why you weren't notified, it should actually be your Platform who should inform you of any changes and its migration process.
As to what date you need to do this migration - from Stripe's perspective, there is no certain due date. You can still do data migration from 2 different Stripe accounts, so long as the old account is active.
It would best to reach out to your Platform first, since they're the ones who managed the creation of your old and new accounts. For your convenience, I am providing you with their contact details below:
Support email: support@xero.com
URL: www.xero.com
If there are some things they cannot address regarding the migration of your accounts, please have them reach out to us so we can provide them with the appropriate solution.
I hope this helps! Please let me know if you have any other questions or concerns - I want to make sure you're all set.
Best,
Mary" -
Sam Gray commented
@Duncan, this change was done to 'improve your experience' 😂😂😂
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Duncan Robbie commented
Why did xero do this? I already had stripe working fine. Multiple other integrations with stripe an extremely annoying change.