• Report: #1120924
Complaint Review:

Square, Inc.

  • Submitted: Tue, February 04, 2014
  • Updated: Tue, February 04, 2014

  • Reported By: MyPowerMaker USA Corporation — Nazareth Pennsylvania
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

*Author of original report: Rebuttal to the rebuttal

*General Comment: Fraud...

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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/reports/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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Updates & Rebuttals

#1 Author of original report

Rebuttal to the rebuttal

AUTHOR: MyPowerMAker - ()

In the initial stages of the transaction the payment was rejected. The customer contacted the bank and verified the payment was legitimate. Our second attempt to process allowed the transaction to be accepted.  We waited for the funds to hit the bank. Two days later, a pop-up requested more information; copy of invoice, copy of company license, purchase order copy and all correspondence between our company and the customer. We fully complied with everything asked of us.

Two days after that we checked to see if the money had been transferred to our bank account and we found it had not. We logged in to our Square account and found another pop-up stating that our account had been discontinued and that we could no longer use Square as a processor and the decision was final with no avenue to dispute the decision; and they also stated they would not tell us why. They also indicated that they would hold the funds for 90 days, after which they would not state what they would do with the funds.

We immediately sought their customer support, which is a farce. There is no way to contact them other than through a form on their web site. Searching for a phone number on the internet revealed two numbers, both of which had no voice mail capabilities; only a short advertisement about Square and a recommendation to fill out the support form on their web site.

Fortunately, the customer was sympathetic and set up a conference call with the customer, us and the customer's bank. The bank resolved it by finding a loophole in the credit card dispute process. This loophole enabled the bank to credit the customer, avoid our company from being penalized and life is now merry in the Land of Oz.

We have found another credit card processor who understands our business and who expects to see transactions in the tens of thousands of dollars and higher from our company so that this does not happen again.

Just to note: we normally require a customer to transact using bank transfers on amounts over $5,000, but this customer insisted on using a credit card for security reasons. We have processed high dollar transactions before, although none this large. Still, we complied with everything Square, Inc. asked of us and they still pulled this stunt. I don't think we would be as angry as we are about this but for the fact that trying to resolve the issue through Square's support channel was made virtually impossible.

One last thing. The first thing we did when we learned there was no way to communicate with Square via telephone was we contacted the Better Business Bureau of San Francisco where Square is headquartered. We were told that they receive dozens of complaints about Square daily; so much so that they actually have a squad dedicated to handling the Square complaints. The District Attorney is involved and it looks as if a class action event is in the making. Furthermore, it takes only a few keypresses in a Google search for Square complaints to find a large number of disgruntled customers who have experienced the same situation we found ourselves in.

We will never do business with Square, Inc. again and we will progressively campaign against them in the future. If Jack Dorsey wants his company to really perform, he needs to make serious changes in how Square, Inc. runs their operation.

We need say no more. It's over. Good riddance to Square!

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#2 General Comment


AUTHOR: Tyg - ()

 I can tell you that your account was suspended due to a fraud investigation. This is the ONLY reason I have EVER seen any CC processing agency hold funds. You state its 12,000.00. Have you EVER processed an amount that large? Unfortunatly this is because of the method of payment services that YOU picked. You will just have to wait. 90 days isnt that long in the grand scheme of life. Yes it makes YOU look bad, but LOOKS are not everything. I would be more concerned with WHY they suspect fraud. If you had even ONE customer call and demand their funds back from square, then them holding your funds makes sense. Work within the system. You dont NEED a live person. Companies have started moving away from a live person as a live rep can be swayed with the right SOB story. If there is an investigation you will just have to go through it. All the posting and ranting is NOT going to change their minds. This is MONEY and they are deadly serious about it.

You might want to contact them and ask if anyone has reversed their purchase.

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