Payment

[romlove1]

I have made a payment towards my loan but it is more than 3 days, the money was withdrawn from my account but it is still show pending on square account. How does it usually takes. Thank you in advance for your response. 

[Twpchair · Accepted solution]

It does say please allow 7-10 business days for it to reflect on your account. If it's been gone for 3 days from your bank I would start looking at your loan section about Friday or Monday. Most I see are about 5-7 business days before they see the loan prepayment show up. 

[Twpchair · Accepted solution]

It does say please allow 7-10 business days for it to reflect on your account. If it's been gone for 3 days from your bank I would start looking at your loan section about Friday or Monday. Most I see are about 5-7 business days before they see the loan prepayment show up. 

[MayaP · Accepted solution]

Hey @romlove1, Welcome to The Seller Community! 

I would wait the 7-10 business days as @Twpchair advised. If you still not see the payment reflecting you can contact our Capital Team at

1-855-700-6000, Monday through Friday from 8am - 5pm PST.

Thank you @Twpchair for helping out! 😊

[romlove1]

Hi MAYAP, thank for you for your response. But I have to say that you guys need to improve that service transaction. The reason I am saying this is because it did not take 7 to 10 business day for the money to disappear from my bank account. It was in the next business day. Therefore, for you to hold that process for more than 3 days it puts a hold on that merchant transaction. In my case if the money was process in like 3 days I would most likely be approved for another loan and I could really use that money. Instead, I have to wait for you guys to process a money for 7 to 10 business days that was taking from my account the next business. I hope you understand. 

[Twpchair]

I've been there before but unfortunately when you deal with your bank to another 3rd bank it doesn't happen instantly period. I don't work for square but been here since 2014 and each transaction is different and unfortunately regardless if you get your money 24/7 ach deposit don't work on the weekends. That's why they state 7-10 business days. In my experience it's usually 5-7 days before you see it on your end not the the next day. You are dealing with your bank, square and their banking back to your bank.  Should it be one day sure but one the weekends ACH do not transfer period. Been there done that. The fastest I got was 5 days. Good luck to you and hopefully you will be on the soonest end. But it does state how long. 

[Twpchair]

Once it does hit your account you are aware that it takes 2 weeks for you to go back in the algorithm system to be eligible for another loan right? Many assume once they pay it off an instant offer will come in but that's not how it works unfortunately 😕 just keep processing daily, keep all your factors in the green and hopefully soon an offer will come in. Good luck to you!

[Twpchair]

No problem! I  like to hang around here and help others with current information and experience! 

[MayaP]

Ah, got it @romlove1, thank you for clarifying. No I completely understand, if the money leaves the account that quickly then the payment should reflect that too. That makes total sense! Feel free to reach out directly to our Capital Team and provide them with this feedback too! 

[romlove1]

I did and the representative I spoke to told me I have to wait 7-10 business days  while it clearly mentioned if you want to make a payment towards your loan it will be processed from 1-4 business days. And now I got different answers 7-10 business days. And the reason I made the payment is to pass the 3/4 mark in order to be able to be approved for another loan now I regret my decision. If I knew it would be like that, I would have used that money for my ex.