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My transfer was sent to a closed bank account, what do I do?

 [This post was updated by moderator in 2019 to reflect a name change - deposits are now called transfers.]

 

My bank account got hacked and had to close it down. Square told me that if my bank account was closed. That they would contact me and resend it to my new account.  That never happened. I stumbled upon the sizable amount because I never saw it transferred into my bank!

 

Now I'm having to re-contact and redo all my information with Square again! It's been a month and the money has not been deposited. Not good business. What do I do? I keep emailing square and they keep giving me excuses. Is there a phone number I can call? Cant seem seem to find that anywhere.

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Best Answer

Hello @Gegil, sorry to hear about the trouble. I would be happy to provide some clarification. 

 

If your deposit was sent to a closed bank account one of three things will happen:

 

  1. Your deposit bounces back to Square. In the event this happens you will need to link a new bank account (account & routing number) so we can deposit your funds. Not to be mistaken with linking a new debit card for instant deposit. It can take up to 5 business days for a bank account to link. Also it can take up to 7 business days for the funds to be returned to Square. 
  2. Bank accepts the deposit and issues a check. In some cases your bank may cut you a check for the deposit and mail it to the address on file. 
  3. Bank keeps the Account Open. The bank may keep your account open for some time, specifically for situations like this. 

If your bank account is closed it is your responsibility to update your account information. Square assumes your linked bank account is open and active until your bank notifies us of a closure. 

 

If you would like to give us a call check out the thread on customer codes & phone numbers. 

 

If you have any other questions please I'd be happy to help. 

View Best Answer >

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53 REPLIES 53

I tried calling but I don’t have our customer code.

 

how do we rerun the Canceled credit card 

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Square Champion

@colapgl, To get your customer code:

https://squareup.com/help/contact

Click "Other"

Click "I don't see my issue"

Click "Call Support"

Write down your Customer Code

Call 1 (855) 700-6000

 

you can not undo a refund.  The only way to recharge the customer would be to run the card again.

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Thank you!

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Thanks Helen. All resolved 

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A deposit was made to the wrong account. What do i do to get the money deposited to the correct account? Help!

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Alumni

Hi @Ajvmoore - Sorry to hear about this! Check out @Chad's best answer on page one of this thread for steps to fix this.

 

You can also contact our team by phone to learn more. 

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This reply created from merging an existing thread: "How long does it take to get missing payments?" The author has been notified via email.

 

I had a closed account on my deposits.. how do I get my money? The bank has verified that no money has posted with them.

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 This reply was created from merging an existing thread: How do I get back funds

 

How do get back funds from account that I closed?

 

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Admin

@Zokinglair I'm adding your post to this thread which explains the next steps for you to take if your deposit was sent to a closed bank account.

 

Please call our Cusotmer Success team directly if you have questions about your deposit so we can help. 

️ Helen
Seller Community Manager

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Did u ever get the money from the closed account or the situation handled and if so how long I had a deposit into my closed account but the bank tells me that the money is going to cause the bank to reopen so they take the money I owe and give me the rest

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Will the loan money be deposited to the new account number I entered because it was sent to my old account and my wife closed it

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Square Community Moderator

Hi @KeepItPhresh and welcome to the Seller Community!

 

We moved your post here so you can see the information about what happens when funds are sent to a closed bank account.

 

The best answer on page 1 should give you everything you need to know!

 

Hope this clears things up. 

Ashley C
Community Moderator, Square
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So, I had my new account verified, deleted the old account and my deposit went to the closed account.  What do I do?  

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Did you ever get your money ? Same thing happened to me over 2k that I still don’t have since May 18

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I never got my money.  

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I accidentally transferred funds from my square card to an old bank account using the 1-2 business day option.

I updated the bank account already.

 

Is there a way to reverse/cancel the transaction?

 

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Square Community Moderator

Hi @renemarmolejo,

 

I moved your post to an already existing thread in the Community about transfers being sent to old/closed bank accounts.

 

Check out @Chad 's best answer for more details on what happens to those funds once they've been sent.

 

There's no way to cancel it once it's been sent since it's released immediately on our end. 

Ashley C
Community Moderator, Square
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Trasfers was done from square account to an account that is not mine,How can i recover my money

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Square Community Moderator

Hi @ki56! Welcome to the Community.

 

I moved your post to an existing thread on next steps when a transfer is sent to a closed/the wrong bank account.

 

We'll have to wait to see if it bounces back to us within 5-7 business days. In the meantime, make sure you link the correct bank account. 

Ashley C
Community Moderator, Square
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I didn't verify my new bank account and the money was transfer to my old closed bank account. I already verified my new bank account but I need to know what I do to get the money transfer to this account. Please help me.

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Alumni

Sorry to hear about the troubles, @jolykim20 - I've gone ahead and moved your post to this thread so you can see what could have happened. Please don't hesitate to reach out directly to our Customer Success team - they'll be able to dive in to your account with you and figure out next steps here!

Valentina
Community Moderator, Square
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