ED Magedson – Founder
Square, Inc.1455 Market Street San Francisco, California USA
Square, Inc. Squareup Deactivated account and held funds of $11,879.95 for no disclosed reason. San Francisco California
Square, Inc. started processing a credit card transaction for one of our customers. The amount was for approximately $12,000.00. The transaction should have taken two days to process.
Two days later, upon entering the web site to establish if the credit card had been processed, we were upset to find that Square, Inc. had deactivated our account, notified us that we were from that point on unable to process more credit cards, and stated they did not have to tell us why. Square, Inc. also held the funds and indicated that they would hold the funds for 90 days.
First, the money they are holding is not ours. It belongs to a customer. Second, their decision affects the customer, our company and the manufacturers of the products we distribute. Their action diminishes the credibility of our company, making it look as if we have mismanaged the funds and giving the customer the impression that we, not the credit card company, have the customers' money.
Attempts to contact Square, Inc. are disheartening. There are two voice phone numbers and a fax number listed online (not on their web site), but they lead to a pseudo voice mail system where there is no way to leave a voice mail. Instead, a recording directs the caller to their web site to fill out an online form. There is factually no way to call the company to speak to a human, and their email correspondence method is unreliable.
This report was posted on Ripoff Report on 02/04/2014 04:11 PM and is a permanent record located here: http://www.ripoffreport.com/r/Square-Inc/San-Francisco-California-94103/Square-Inc-Squareup-Deactivated-account-and-held-funds-of-1187995-for-no-disclosed-r-1120924. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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