How to close a Stripe account?

How to Close a Stripe Account: A Comprehensive Guide

 

Step 1: Understand the Implications of Closing Your Stripe Account

 

Before proceeding with closing your Stripe account, it's important to understand what happens when you do so:

• All recurring payments, subscriptions, and scheduled payouts will be canceled
• Access to your dashboard and data will be permanently removed
• You will no longer be able to process payments through Stripe
• Any pending payouts will still be processed before account closure
• You cannot reopen a closed account; you would need to create a new one

 

Step 2: Back Up Your Data

 

Before closing your account, download all essential data:

• Export your customer information
• Download transaction history
• Save any invoice or receipt templates
• Export payment records

You can download data through the Stripe Dashboard or programmatically via the API:

// Example of retrieving data via API before closing account
const stripe = require('stripe')('your_secret_key');

// Get customers
const customers = await stripe.customers.list({
  limit: 100,
});

// Get transactions
const charges = await stripe.charges.list({
  limit: 100,
});

// Get invoices
const invoices = await stripe.invoices.list({
  limit: 100,
});

 

Step 3: Cancel Active Subscriptions

 

Cancel all active subscriptions to avoid customer billing issues:

• Navigate to the Subscriptions section in your Stripe Dashboard
• Cancel each active subscription manually
• Or use the API to programmatically cancel all subscriptions

Using the API to cancel subscriptions:

// Cancel all active subscriptions
const stripe = require('stripe')('your_secret_key');

const subscriptions = await stripe.subscriptions.list({
  status: 'active',
  limit: 100,
});

for (const subscription of subscriptions.data) {
  await stripe.subscriptions.del(subscription.id);
  console.log(`Subscription ${subscription.id} canceled`);
}

 

Step 4: Process Pending Payouts

 

Ensure all pending payouts are processed:

• Check the Payouts section in your Dashboard
• Verify that all transactions have been settled
• If needed, initiate a manual payout for remaining balance

To initiate a manual payout via API:

// Create a manual payout for remaining balance
const stripe = require('stripe')('your_secret_key');

const payout = await stripe.payouts.create({
  amount: 1000, // amount in cents
  currency: 'usd',
});

console.log(`Payout ${payout.id} created`);

 

Step 5: Disable Webhooks and API Integrations

 

Remove all integrations that depend on your Stripe account:

• Disable webhooks in your Stripe Dashboard
• Update or remove any third-party services connected to Stripe
• Revoke API keys to prevent unauthorized access

To list and delete webhooks via API:

// List and delete webhooks
const stripe = require('stripe')('your_secret_key');

const webhooks = await stripe.webhookEndpoints.list();

for (const webhook of webhooks.data) {
  await stripe.webhookEndpoints.del(webhook.id);
  console.log(`Webhook ${webhook.id} deleted`);
}

 

Step 6: Close Your Account Through the Dashboard

 

The simplest way to close your account is through the Stripe Dashboard:

• Log in to your Stripe Dashboard
• Click on your account name in the top-right corner
• Select "Settings" from the dropdown menu
• Scroll to the bottom of the page and look for "Close Account"
• Follow the prompts to confirm closure
• Provide a reason for closing (required by Stripe)
• Confirm final closure by clicking the red "Close Account" button

 

Step 7: Close Your Account Using the API

 

You can also close your account programmatically using the Stripe API:

// Close Stripe account via API
const stripe = require('stripe')('your_secret_key');

// You'll need to use the Accounts API
const accountDeletion = await stripe.accounts.del('acct\_xxxxxxxxxxxx');

if (accountDeletion.deleted) {
  console.log('Account successfully closed');
} else {
  console.log('Account closure failed');
}

Note: This method only works for connected accounts or platforms. Standard accounts must be closed through the Dashboard.

 

Step 8: Verify Account Closure

 

After submitting your closure request:

• Check your email for a confirmation message from Stripe
• Attempt to log in to verify the account is inaccessible
• Check that recurring payments have stopped (if applicable)
• Verify final payout has been received in your bank account

 

Step 9: Update Your Website and Documentation

 

Update your business systems to reflect the change:

• Remove Stripe payment options from your website
• Update documentation and payment instructions for customers
• Set up alternative payment methods if necessary
• Update any references to Stripe in your terms of service

 

Step 10: Handle Tax and Financial Records

 

Address any financial loose ends:

• Store financial records according to tax requirements (usually 7 years)
• Update your accounting system to reflect the closure
• Inform your accountant or financial advisor
• Note that Stripe will still send any required tax forms for the current year

 

Troubleshooting Common Issues

 

If you encounter problems closing your account:

• Ensure all disputes and chargebacks are resolved
• Verify your account balance is zero or waiting for final payout
• Check for active subscriptions that weren't properly canceled
• Contact Stripe Support if the closure option isn't available

To check for outstanding disputes via API:

// Check for disputes before closing
const stripe = require('stripe')('your_secret_key');

const disputes = await stripe.disputes.list({
  limit: 100,
});

if (disputes.data.length > 0) {
  console.log('Warning: You have unresolved disputes');
  disputes.data.forEach(dispute => {
    console.log(`Dispute ID: ${dispute.id}, Status: ${dispute.status}`);
  });
}

 

Special Considerations for Platform Accounts

 

If you're running a platform with connected accounts:

• Notify all connected accounts of the impending closure
• Provide instructions for them to migrate or establish direct Stripe relationships
• Ensure all connected accounts are properly disconnected before closure

Code to list connected accounts before closure:

// List connected accounts
const stripe = require('stripe')('your_secret_key');

const connectedAccounts = await stripe.accounts.list({
  limit: 100,
});

console.log(`You have ${connectedAccounts.data.length} connected accounts`);
connectedAccounts.data.forEach(account => {
  console.log(`Account ID: ${account.id}, Email: ${account.email}`);
});