Payment reserves

[Beamer]

Does Square ever require payment reserves? I had another service try to hold part or all of the payments in reserve for up to 30 days before releasing the funds to my account. 

[VanKalkerFarms]

I have never seen that happen,  I have seen funds held due to disputes.

[Ranrob]

I’ve never had a despute but they keep a reserve account open for 120 days for just in case somebody wants a refund . Do I get to dimantle the basement or remodel to get my product back . Square is jacking me so I don’t run payments threw there app anymore and moved over to quick books at least they take what they advertise and don’t steal from me or force me to have policy I don’t want 

[Ranrob]

Yes they take 30% of my deposits . Cancel and do not use square they are purposely destroying my company and a many others 

[EZ-Turf]

They are taking 30% of my money without my permission! I was told this would not happen by my Sales Person"! Thank God not a lot of money when it happened, but if they do not re;lase my funds I will close my account and tell all my social media friends to drop them also. They made me jump through hoops to open the account and had all our info, should have told me then they were going to do this. BAD business practice!!!

[Bigbothways]

They never held a reserve on me but I saw a good post  on Facebook about them doing it!! It’s not right they are working more for the customer than business and business is paying their fee!

[Olivert]

I’m having a problem with square. Since they started taking out 30% I’ve lost 90% of my business because I can’t afford that. I’m a small business. How do I get my reserve released faster? I used square for 5 years with no charge backs or problems until now. I used to think they were great and tell people about them but not any more. Very disappointed in this. 

[EZ-Turf]

I will bad mouth Square to anyone who will listen! Holding someone’s money for 120 days (and making interest on those funds) is the craziest thing I’ve ever come across! Thank the good Lord it was a small amount that was charged in the one transaction they kept my money on! Stay away from Square!!!!!!!

[crjensen]

The Reserves and Squares reasoning for doing so is BOGUS. They started this in 2020, it is now 2/28/22 and they are still holding reserves for my business. I have never had a chargeback and I dont have a risky business.  I am an accountant and I get paid when the services are rendered. So when they say they only do it for "risky" businesses is an excuse.  They are doing this to how many businesses?  They hold so much money from people for 90 days and just think how much money interest they are making!!