ID verification & Funds Held

[MichaelAlan]

I’m new to square so i’m not sure how things work. I have recently stopped using Stripe and moved to Square for my online business which performs very well. On my first day of using stripe we had £2700 of revenue which got paid out smoothly. On the second day we had a revenue of £6200 where square have asked me to verify my ID and held my funds. I’m quite worried now as i’ve read some had experiences online where square have held funds for months once they hold them. I would like to ask other big business owners who make around £50/60K a month using square and what it is like as a payment processor. Should i continue using square and should i expect my funds to arrive to me soon or not. Thank you 

[Sineaid · Accepted solution]

Hi @MichaelAlan,

Thanks for your post, and welcome to the Community. 

I understand that account reviews can be frustrating, and concerning when funds are held. However as a payment processor, we are obliged to occasionally review account activity to gain a better understanding of the businesses we support. We appreciate that the process can be disruptive, particularly in terms of cash-flow, so we always aim to complete our investigations within 1-2 business days.

Unfortunately I wouldn't be able to look into this for your at an account level here on the Community platform, but our Account Services team will have ordinarily been in touch via email to let you know the next steps and set expectations. If you've not received any follow up emails, I'd encourage you to check if there are any outstanding Information Requests pending on your Dashboard.

For more information on account reviews and information requests, you can also check out our Support Article on the topic.