Has anyone had a reserve put on their account?

[SubieHeaven]

As a small business owner, I find it hard to believe that square thinks its ok to hold 25% of my funds for 3 MONTHS! I have had been using square for months now, processing well over $10k alone in the first month and much more after that. Not one single charge back or issue on my account. At first, I thought it wouldnt last long. 2 months later theyre currently holding $3,000 in funds until april. I am no longer going to use square to process sales. I am wondering if I close my account will i receive my reserve funds right away? 

[Minion]

Hi @SubieHeaven 

Sorry to hear about your funds being held.  My best educated guess would be that they are holding funds for security purposes to make sure that everything is legit with the charges and your account.  The timeline of course is not ideal, but I have seen this done with many companies.    There may have been a ale that for some reason triggered something in the system which may be why it is being held.  

I assume, but have you tried to reach out to Square support to see if anything can be done , or if future sales/funds would be held?

As far as closing the account before your funds are released, I would personally wait and keep your account open at east until the funds get released, whether or not your decided to stay after that, if it doesn't cost you anything to leave it open, no harm no foul.