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Stuart J
Stuart J, Solicitor
Category: Bankruptcy Law
Satisfied Customers: 26
Experience:  Senior Partner at Berkson Wallace
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Can you help me with the following questions, Financial and

Customer Question

Can you help me with the following questions
JA: Where are you? It matters because laws vary by location.
Customer: Financial and legal questions.What financial and legal processes must one go through in the UK when looking to use IT systems to legally collect card details, deposits, initial payments and full payments from the bank cards (incl. Applepay, Andriodpay, Googlepay) of customers being offered services or products by businesses and workers and an opportunity to use an online platform? And what financial and legal means must one also go through to then be able to legally keep hold of those payments from customers for an extended time period until the customer has received the service or product, before then making the payments to the businesses and workers bank accounts who are expecting them for services or products they sold? Or to be able legally to return or take the deposit from a customer for breaking agreed rules of behaviour or engagement while using an online platform with prior warning of the repercussion?Is any particular kind of bank account or brand of bank necessary when a business wishes to use Stripe in carrying out these practices, and which banks will provide these instruments that allow for this? What is the correct name of such an account and the procedure necessary to integrate a banking system with Stripe?Do UK banks provide services, processes or procedures for businesses to open a Stripe bank account)? After users receive an e-money account in the app allowing them to order a service through the app, can money then be held on an Stripe account until the following events:
- a service is accomplished and the transaction is continued
- a service is not accomplished and the transaction halted and money returned to the sender
- an error on the side of bank or app takes place and the transaction must be cancelled.Can a business receive money in a normal business account and then hold the money for as long as is necessary before distributing the money to the relevant party, people, customers and businesses by use of an app according to different situations as indicated above.What are the necessary requirements and procedures necessary for a company or person to integrate Stripe with a bank account in the UK. Any requirements for a company?What financial and legal responsibilities does a company have after opening an Stripe account and what financial and legal responsibilities does a bank have after allowing a company to integrate open an Sprite account?In an analysis, what risks and cases should be considered in the operation of a company using Stripe to receive money from and distribute to customers and clients in the UK? And what procedures are to take place if attempts to distribute payments that have been received fail due to bank accounts being expired or bank accounts being wrong? Who becomes responsible for money that remains in the possession of a company under such circumstances, a bank or the company?What are the requirements in the UK for collection and storage of personal data when dealing receiving and distributing payments?What are the legal and financial requirements in the UK for the collection and storage of bank accounts data? Are there restrictions, protocols and methods on how and where it can be stored by a company?What are the requirements in the UK for the collection of identification of users, customers, businesses and clients making payments and receiving money while selling and buying on an online platform? Should companies who provide online platforms and use facilities to take and distribute payments to transfer money for services and products be required to be able to identify every customer, client and business using the facility to make and receive these transfers?Are there KYC (Know Your Client) procedures, expectations and protocols in the UK and if so, what are the different kinds when managing customer, business and client transactions and payments?Is there any remote KYC providers/systems in the UK that can be used for apps to assist in the i
JA: What steps have you taken so far?
Customer: I am looking to start a company online and am considering the possibilities and challenges if I am to go ahead.
JA: Anything else you want the Lawyer to know before I connect you?
Customer: No thanks, ***** ***** answers to these questions and how much it will cost me to get them from these lawyers, which I hope is something I can afford.
JA: The Expert's answer will cost $10 to $100, depending on the issue type and time to respond. You'll see the exact amount on the next page and can decide then. It's way less expensive and more convenient than any face-to-face visit.
Customer: In the questions I am talking about UK laws by the way.
Submitted: 4 days ago.
Category: Bankruptcy Law
Customer: replied 4 days ago.
Financial and legal questions.What financial and legal processes must one go through in the UK when looking to use IT systems to legally collect card details, deposits, initial payments and full payments from the bank cards (incl. Applepay, Andriodpay, Googlepay) of customers being offered services or products by businesses and workers and an opportunity to use an online platform? And what financial and legal means must one also go through to then be able to legally keep hold of those payments from customers for an extended time period until the customer has received the service or product, before then making the payments to the businesses and workers bank accounts who are expecting them for services or products they sold? Or to be able legally to return or take the deposit from a customer for breaking agreed rules of behaviour or engagement while using an online platform with prior warning of the repercussion?Is any particular kind of bank account or brand of bank necessary when a business wishes to use Stripe in carrying out these practices, and which banks will provide these instruments that allow for this? What is the correct name of such an account and the procedure necessary to integrate a banking system with Stripe?Do UK banks provide services, processes or procedures for businesses to open a Stripe bank account)? After users receive an e-money account in the app allowing them to order a service through the app, can money then be held on an Stripe account until the following events:
- a service is accomplished and the transaction is continued
- a service is not accomplished and the transaction halted and money returned to the sender
- an error on the side of bank or app takes place and the transaction must be cancelled.Can a business receive money in a normal business account and then hold the money for as long as is necessary before distributing the money to the relevant party, people, customers and businesses by use of an app according to different situations as indicated above.What are the necessary requirements and procedures necessary for a company or person to integrate Stripe with a bank account in the UK. Any requirements for a company?What financial and legal responsibilities does a company have after opening an Stripe account and what financial and legal responsibilities does a bank have after allowing a company to integrate open an Sprite account?In an analysis, what risks and cases should be considered in the operation of a company using Stripe to receive money from and distribute to customers and clients in the UK? And what procedures are to take place if attempts to distribute payments that have been received fail due to bank accounts being expired or bank accounts being wrong? Who becomes responsible for money that remains in the possession of a company under such circumstances, a bank or the company?What are the requirements in the UK for collection and storage of personal data when dealing receiving and distributing payments?What are the legal and financial requirements in the UK for the collection and storage of bank accounts data? Are there restrictions, protocols and methods on how and where it can be stored by a company?What are the requirements in the UK for the collection of identification of users, customers, businesses and clients making payments and receiving money while selling and buying on an online platform? Should companies who provide online platforms and use facilities to take and distribute payments to transfer money for services and products be required to be able to identify every customer, client and business using the facility to make and receive these transfers?Are there KYC (Know Your Client) procedures, expectations and protocols in the UK and if so, what are the different kinds when managing customer, business and client transactions and payments?Is there any remote KYC providers/systems in the UK that can be used for apps to assist in the identification of clients, businesses and customers online?What are the legal payment limits for an Stripe account? How much money can users transfer and how does a users identification necessity differ by size of a payment in terms of full identity, provision of passport, no identified, etc?
Expert:  Virtual-mod replied 4 days ago.
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Customer: replied 3 days ago.
I can wait. Thank you.
Expert:  AlinaK-admin replied 1 day ago.
Hello,
I apologise as we have not yet been able to find a Professional to assist you. Do you wish for me to continue to search for someone to assist you or would you like for us to close your question at this time?
Thank you for your patience,
Alina-Moderator
Expert:  Ed Turner replied 1 day ago.

Hello. I am Ed, a Solicitor qualified in England & Wales with over a decade’s experience in the legal profession advising clients.

I specialise in Commercial Contracts, Business Transactions, Employment, Dispute Resolution, Personal Injury and Road Traffic Law and shall be reviewing your legal problem today.

Regarding the site’s automatic offer of a Premium Service Phone Call, I shall be delighted to talk with you by phone to discuss your issue in greater detail if you accept the offer.

This is a complicated matter which requires a detailed discussion where I can provide bespoke advice. I suggest that we have a detailed telephone discussion. Please accept the site’s offer of a Premium Service Phone Call.