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Square review: Stealing my money 9

M
Author of the review
4:04 pm EDT
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On March 18th we ran a payment through the square card website. The payment was for 12, 734.10. We had expected the full payment to be in our bank account the next morning. Well only 2002 got deposited. We were very upset. It turned out that if you do not swipe the card they hold your money for 30 days. SO we did mumble and complain to the company about this, but eventually accepted that we did not read the rules. SO that not we read the rules and found out as long as you swipe customers cards in person the full amount will be released to your bank account with in 24 hours. So we decided to give it another try with a customer who wanted to pay via credit card. So on April 2nd we swiped a customers card for 3364.05. We were expecting to have our money the next day. But to my surprise I got the following email instead.
" Hello Melissa,

To ensure the financial security of both you and your customers, we would like to verify some additional information about your account. Until we have verified this information, deposits to your bank account will be deferred. During this period, you will still be able to accept payments using Square.

To verify your account, please do the following:
1.Please log in to the Square Dashboard on a computer at https://squareup.com/login.
2.Click the "Verify account" button in the banner at the top of the page.
3.Answer the questionnaire with as much detail as possible. If you are unsure what to send, provide any documentation relevant to your business or transactions. Documents can be directly uploaded through the questionnaire or faxed to us. Please ensure your documents are clear and legible.
4.Click "Submit"

We realize the difficulty this may cause and we want to resume deposits to your bank account as soon as possible.

Once the form has been completed, you will receive an email confirmation and should expect to hear back from us within 1-2 business days.

For more information about this form and the verification process, please visit our Help Center

If you have questions regarding the form, please call [protected] and have your account number ready: #[protected]. We are available Monday - Friday from 9AM - 5PM PT. Please note that our Account Services representatives will be unable to assist with issues unrelated to the account verification process.

Sincerely,

Square Account Services"

So I did exactley as they asked expecting to have my money soon. As a small business I owed vendors for this job and had to feed my own family. So I figured I would have my money the next day. Instead I recieve this message.

"Hello Melissa,

Our Account Services team has concluded a review of your account and has determined it to be high risk. For security purposes, we have elected to deactivate your Square account. From the date of this letter forward, you will not be able to process transactions using Square.

To learn more about Square's Merchant User Agreement and terminations, please visit: Merchant User Agreement.

Any funds currently in your account will be held for 90 days before being released to your linked bank account.

If you do not want to wait 90 days to receive these funds, you may consider refunding the payments back to the original cards and seeking an alternate form of payment. Please note that we refund all the fees too.

To refund a payment, please log in to the Square Dashboard on a computer at https://squareup.com/login.
1.Navigate to your Payments page.
2.Click on the payment you would like to refund, then click 'Issue Refund' on the left.
3.Enter the reason you are refunding the payment, then click 'Refund this payment.'

For security reasons, we cannot divulge the reason for your account termination. We apologize for the inconvenience, but our decision is final.

Thank you for understanding.

Sincerely,

Square Account Services"

You can imagine my surprise when I recieved this. So I begin looking for ways to contact Square up. Apparently the only way is via email. So I email them this

"Waiting to hear the reasoning. Please. This is a very poorly run company with horrible customer service. It is not good business for me to have to go back to a customer and refund, it looks flakey. Can you please explain to me the reasoning behind your decision or at least give me a date of when my money will be available, so I can let my vendors know when they will be paid. Your prompt attention to this matter would be appreciated"

In return this is the answer I get.

"Hello Melissa,

Thanks for writing in.

Due to security reasons, we cannot detail the reasons for our decision.

I apologize for the inconvenience, but our decision to deactivate is final.

Sincerely,

Anya
Square Account Services
squareup.com/help"

So at this point I have no option but to consider my money stolen. We made one last effort to contact them via email since there is no phone # to contact them to discuss held money. I have yet to hear back from that email. I am not the only contractor to be facing this with square. I have been a customer since Sept of 2012. This is the poorest I have ever been treated by a company. Especially after following their very own rules to get my money. At this point I consider the company thiefs, and consider my money stolen, and I have reported it to my local authorities, as well as San Franciscos.

As far as a resolution...we just want our money for the work we have preformed, and do not think it is rightfor them to hold it just to collect interest. Let alone hold it and not tell us why, especially after we did EVERYTHING THEY ASKED!

Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

9 comments
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Brett W.
US
Apr 20, 2014 10:08 am EDT

I agree, I ran a payment for $4, 500, on top of the crazy fee they took from me, now I have to wait 90 days to get my money? What a scam! Sounds like a class action lawsuit is in order. This is absolutely insane!

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Fralio
US
Apr 12, 2016 5:05 pm EDT

I had been using square for years and had a large transaction of $10000.. I got the verification message. I absolutely refused to give them the personal info they asked for. They were charging me $350 for the transaction. I canceled all transactions and closed my account. Hold MY money while they verify me, someone who has had an account for years?! I don't think so!

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Manny3491
US
Sep 01, 2016 10:02 am EDT

this Scam is Done by Squareup.com The Square App

This is an app that is been distributed to People and Merchants, so that they can Charge their customers for Products and services !
but this Company systematically Steel Their Customers Hard Earned Money,
I have myself had customers paying me total of about $ 4, 352.00
and they deposited only about $2920 that is After Their Fees had been taken !
So I have Tried to call them, and they don't reply,
I send them over 20 emails, And they steel do not have any good Answers to where my Money has Disappeared !

so I have checked them over The internet, and there are thousands of people like me that has been Cheated out of their Hard earned Money ! Please Contact me if you Want to
I hope That You Can Help
Thanks So Much

Sincerely

Emmanuel Hileah
[protected]

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Freddie Sanchez
US
Jul 14, 2017 9:39 pm EDT

This is my complaint I sent to BBB - Better Busimess Bureau.

I do not know how this company still in business. I started using Square like a moth ago, the first week I did 3 transactions for 3 new customers, they locked my account and put it under review and send me an email asking to upload some documents to verify my business so I did, they lifted the hold on my account saying that was a one time thing. The week after I did 2 more transactions "2 new customers" they did the exact same thing. So I did provided them with all documents needed to fix the problem. Couple of days later I did 1 transaction for a new customer, next day no deposit... So I called them they said that it was a mistake that they will contact that department to take the hold off, a couple of minutes later I was in my account and tried to contact them to see if everything was ok and they blocked my call option. No way to contact them, only via email but this was on July 11, 2017 and no email or explanation from them, and they are holding $6k+ of my money. This needs to stop, somebody needs to hear us and take action... The collected their fees, the have their money and hold ours for no reason at all. Square can't be playing around with honest and hard working people's money like that. Scam, White collar thieves!

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Damian david
Miami, US
Dec 11, 2021 8:38 pm EST
Verified customer This complaint was posted by a verified customer. Learn more

Hi, guys I’m feeling like you in all this matters, we try to made a
Movilización yo Square in California, and signing petitions for pirates square paid are money, they stolen our money, if we are together maybe we can make some change

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Kathy DeRosa
US
Aug 04, 2022 5:57 pm EDT

I've never had any issues until recently. 10 days ago I took a payment and they still won't allow me to transfer my money. I'm about to go file a charge for theft against them

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Attaluh Walker
US
Nov 27, 2022 1:03 pm EST

A square merchant made multiple purchases on my card. I tried to find their information. None to be found. Tried emailing. Email was returned and the website taken down.

Koji Striqfit charged 20 transactions of $15.00 each on my CashApp account.

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Angie Durgan
US
Apr 04, 2023 8:51 am EDT
Verified customer This complaint was posted by a verified customer. Learn more

I had something similar happen to me recently. I’m a licensed massage therapist and I own my own small business, with no employees. I clicked on a link to apply to sell CBD products to my clients, square said it would be in touch in a few days, well I missed the email and didn’t answer their questions in a day, so now they are holding all of my money and won’t give it to me. I have told them it was a mistake, I even answered their questions, and still no money in my account. I called and let them know I have rent to pay and a child to take care of, and they don’t care, they are still keeping my money. Is there anything I can do?

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Callee70
US
Jun 25, 2023 5:02 pm EDT
Verified customer This complaint was posted by a verified customer. Learn more

They did the same thing to me, they even sent me a tax form to file with my taxesas of I really received the money, this was 2 years ago. I filed a complaint with the better business bureau and the very next day I recieved an email from square I replied questioning why I never recieved my funds after the waiting period and they instructed me on what to do and I recieved my funds the very next day

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