holding funds

[Stephski22]

This has been an ongoing issue for many many people. Square is flagging accounts and holding funds. They then request a ton of info pertaining to your business. The same info they already on file but want you to submit it all again. Then if your lucky they will release your funds. They have flagged me three times since August. Ive had to jump through hoops to have access to my own money. They never do this to me when I run daily smaller amounts but if its a larger transaction, they do it every time. Some people have been waiting over 90days for square to release their funds. Square is currently holding ALOT of money from people across the country. The longer the process to release funds, the longer they can use your money while holding it from you so they make the process take as long as they possibly can. The department that makes these decisions with your money is the accounts review team. You can not speak to them. They have full access to your money yet you can not speak with them to ask questions or explain anything about the transaction that flagged your account. They are not flagging random accounts as they state. They are flagging and holding funds from accounts doing a substantial amount of business. There is nothing random about it. They claim they they do these random security checks to protect us business owners however they are failing us. How can a business survive without access to its funds? Have you read the complaints on the BBB website? I have posted about this issue numerous times here in the seller community page only to have my threads deleted every time. I have seen several others post about this as well over the last couple weeks and square removes their posts too. Pay attention to it and I guarantee this post of yours will be removed by the end of the day. I have used square for 7 years now with no issues at all until my business picked up and I started taking larger payments. Just this week square forced me to refund a long time customer of mine $14,000 because the review team decided that my customer was paying with a stolen credit card. This customer has paid me with that same card several times in the past with no issues. Now suddenly square decides its a stolen card without having any info from me or my customer to make that decision. If I did not refund, they threatened to hold my money indefinitely. Did they communicate with me at all before making that decision? nope. Did I get to speak with somebody about it? Nope. The only communication you can get from the review team is emails stating their decisions about your account and you cant even reply to the emails. By using square you are giving them full access to your money and you literally have no control on how they use your money or hold it. Sketchy business practice for sure. Good luck to you. I am deactivating my square account because I am the only person who should be controlling access to my money, not a third party processor who cant communicate with me. Definitely take a moment to read the reviews on the BBB. You will be shocked to find out how often this is happening and the amount of money that square is holding from us sellers. Its an astronomical amount.  

[Frida]

Hello Stephski22 and @rrkaptivating 

As a reminder the Seller Community is to be used to collaborate business related ideas with other Sellers and to engage with the Community moderators.

I have attached the Community Etiquette and Guidelines for your review. 

Please also keep in mind that per these guidelines above, our team will also remove content that contains misleading or speculative information.

Thank you for your understanding, and reach out if you have anymore questions.