Squareup / stealing my money
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.
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.
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.
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.
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.
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.
Square Account Services
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!!
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