# Is online payment service a Fatca reportable account?



## P123 (Dec 2, 2015)

So my saga for clarity continues...

I use a service called Stripe https://stripe.com/at

Below quote taken from website:

_"Stripe is a quick and secure way to accept credit card and debit card payments online. With our integration with Stripe, you can process payments almost instantly. Stripe processes all transactions for you. Once your Stripe account is integrated into your site, you can accept payments immediately. Funds are added to your bank account on a seven-day rolling basis. A two-day transfer may be possible after your first transfer."
_

I receive online payments through my website. The incoming payments are processed by Stripe and then sent to my Austrian bank account. According to a Stripe rep I contacted: 

"Stripe is primarily an online payment processor and a Stripe account is not like a bank account as we just process payments and send them directly to the user's bank account."

He did not know anything about Fatca or FBARs and could not tell me if an account like this needs to be reported on an FBAR or 8938.

Anyone have any ideas?


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## Bevdeforges (Nov 16, 2007)

Since they only process payments and don't retain an account balance in any form, I'd take them at their word and not bother reporting them on an FBAR or any of the FATCA forms.
Cheers,
Bev


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