My substack got fairly popular and just within 9 months I got over 200 paid subs and $23k ARR. The growth continues and due to personal circumstances my business had to move cross-border.
EDIT: Substack reached out and they can help solve the problem
What’s there to worry about? Just make a new stripe for the new company and connect to substack. Nope.
The only way is to cancel ALL my paid subscribers, kill my publication and start from zero.
All the work put into it, all the people that registered on substack because of my publication, the revenue the publication brings in fees to substack as well - is apparently of no value to substack.
I did not expect my publication to get that popular and become a business. I never paid for ads, had barely any marketing and I didn’t put much thought into where I registered my stripe account.
I have no words. Just deeply disappointed and I hope there will be a solution.
That’s what the support answered:
“Hi there,
Sylvia from Substack Support here. Thanks for writing in!
It is not currently possible to change the Stripe account connected to your publication without canceling existing subscriptions.
If you’d like to do so, you can disconnect your Stripe account, which would allow you to reconnect a new Stripe account to your publication, but it won't transfer your existing subscriptions over.
Readers' existing subscriptions will be canceled, and they will need to resubscribe when you connect the new Stripe account.
If you'd like to disconnect your Stripe account from your publication, the steps can be found here. During this process, we will cancel all subscriptions and issue prorated refunds to subscribers.
If you don't wish to cancel all subscriptions and issue prorated refunds to subscribers, we suggest exploring other options. For example, if you want to connect a different bank account to Stripe, you can follow the steps outlined here: Update existing bank account information.
Kindly,
Sylvia
Substack Support
“