Report: #916563

Complaint Review: Square

  • Submitted: Tue, July 24, 2012
  • Updated: Tue, July 24, 2012
  • Reported By: Eric L. Smith — tulsa Oklahoma United States of America
  • Square

    United States of America

Square Square up Beware of these guys they will steal your money and hold for 6 months Internet

*Consumer Comment: Square=White Collar Thieves

Show customers why they should trust your business over your competitors...

Square is holding 20k of my money

On June 28, 2012 I received an email from this company requesting detailed info regarding a credit card transaction that I had done with a customer.  
(Hello Eric,
Thanks for using Square.
The safety of your Square account is very important to us. To ensure the safety and security of both you and your customers, we need to learn more about one or more of your most recent transactions. We have temporarily deferred deposits to your bank account until we confirm some information about your account. Please keep in mind that, during this period, you may still accept payments using Square.
We realize the difficulty this may cause and we want to resume deposits to your bank account as soon as possible. With your co-operation, we hope to resolve this situation in 1-2 business days.
Please log in to the Square Dashboard on a computer at Then, click the "Verify account" button in the banner at the top of the page in order to confirm some details about your account.
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
Thanks in advance for your cooperation.
 They wanted copy of credit card authorization signature, invoice, my tax returns, website and the nature of my business. provided that to them and notice they said i could continue using square.  I then got this email.

(Hello Eric,
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 Squares Merchant User Agreement and terminations, please visit: Any funds currently in your account will be held for 180 days before being released to your linked bank account.

If you do not want to wait 180 days to receive these funds, you may consider refunding the payments back to the original cards and seek an alternate form of payment. Please note that we refund all the fees too.

If you are unsure how to refund a payment, please see: How to refund a payment. The payments and fees will be credited back the original payment card within 3 business days.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

On July 19, 2012 i woke up to an email that they had withdrawn $4,700.00 from my account with no explanation.Finally On July 23, 2012 I got this email (Hello Eric,

We have received notification of an inquiry regarding a transaction associated with your account. If you would like to challenge the dispute, please provide a detailed description of the goods or services that were sold. Also, if the account information was manually entered (card not present), please provide signed cardholder authorization and proof of delivery. You may attach the requested materials as PDFs to your reply to this email. 

Amount: $4,900.00
Type: Card Payment
Date: Jun 15, 2012 at 8:58am CDT
Payment card: Visa 3940 (swiped)
Statement description: SQ *ERIC SMITH

There will be an immediate hold or debit (via your bank account) on this transaction until the dispute is resolved. 

Square Chargeback Services

My client didn't dispute anything and  the transaction was over a month ago.
the created problems with my bank accounts. stay away from them.

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This report was posted on Ripoff Report on 07/24/2012 09:44 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Square=White Collar Thieves

AUTHOR: Freddie Sanchez - (USA)

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

I do not know how this company still in business. I started using Square like a month 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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