Hey everyone, I’m new to Square. I’m in the very early stages of starting an online business and my first client is a long term friend of mine. I set up my Square account and everything was smooth. My client paid for my service and I saw the funds in my account quickly. I also signed up for a checking account which was also quick and seamless. However Square immediately put my funds on hold and asked for a lot of info about my business.
I filled out everything the best I could given that the business is still early and I am getting clients by word of mouth so far (starting with close friends/colleagues). Square gave me the option to refund if I needed the money now so I tried to refund but the system spat out an error saying the customer needs to talk to their bank. However my clients bank is saying Square needs to process the refund on their end. Great, that’s pretty useless.
I guess now I’m just waiting to hear back when Square reviews my answers to their questions on my business. I want to emphasize that the business is brand new so I don’t have a website, corporate bank account, months/years of sales history, etc. I’m worried they’ll review my answers and just keep my funds on hold indefinitely. That would make me not use their platform at all so hopefully that doesn’t happen. Has this happened to anyone before? I tried trading through the community here but didn’t find anything too useful to my situation.
Thanks in advance!
