Ask HN: Has anyone here successfully applied to Stripe Atlas?

10 points by laurencei ↗ HN
I've just applied - but I was wondering if anyone here at HN has any experience with Stripe Atlas so far?

How long did it take for you to be accepted? Was the process as simple as it sounds? Are you based in the US, or international?

Any experience(s) you can share would be great.

7 comments

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Are you referring to getting accepted into the beta or completing all the various forms for your company? I've been accepted to the beta, and the landing page says:

"After you submit the application, we will send you the documents to review and sign within a day or two. Your company and bank account will generally be set up within a week of submitting the signed documents."

I have yet to submit my forms, but I was under the impression the process would be relatively quick.

Sorry - I meant "getting accepted". How long was it between applying, and getting accepted?
I was accepted into the beta a little over a month after I applied.
I got accepted but didn't pursue it. The bank they use traditionally works exclusively with local venture-capital funded startups and multinationals opening offices near venture-capital funded startups, so I'm a bit skeptical they'll be a good match for anyone a continent or two from the Bay Area.

From what I read SVB don't actually issue debit cards to anyone so I'm not sure how useful the account would be, I don't think you could use it to pay for anything except maybe indirectly through PayPal, that may make accessing the funds complicated too. It may leave you requiring local incorporation and a local bank account for all your business needs in which case you're paying 15+ percent tax in the US purely for Stripe.

The incorporation process is itself just a couple forms to fill out. A company I registered through http://clerky.com/ beforehand was effortless, getting an EIN and registered agent was also easy through http://delawareinc.com (except fitting very verbose Costa Rican addresses on the forms), and taxes by http://de-taxes.com. Price is around $499+ either way you do it.

Not been able to get a debit card from SVB sounds like a problem.

But once the business is registered - how hard is it to open a 2nd bank account, with another bank, so you can get a Visa Debit card through them?

I think you need to be standing in a bank branch to do that.