Hello,
Sorry if not in correct category it’s my first time posting. Square sent me a payout yesterday to my business bank account. Unfortunately my bank were experiencing technical difficulties and the payment got returned immediately.
My question is will Square automatically allocate this back to my square account once received or will it go into Squares account basically lost in a void until someone locates it.
Thanks
Hi @VROOM,
Thanks for reaching out to the Community for support with this - Welcome!
I’m sorry to hear about the trouble with your bank, I can understand this would be causing you some concern.
There are a number of possible outcomes, depending on whether the transfer failed, or was bounced back to us by the bank. Regardless of the scenario, try not to worry, our Customer Success team will be happy to help you locate the funds. As we have a limited view of your account here on the Community, due to it being a public forum, Customer Success would also be best placed to advise on the next steps.
Before reaching out to the team, I’d suggest that you check the Balance of your Square account to see if the funds are reflected there. I’d also recommend that you check the current verification status of the bank account you had linked.
If you need to update the linked bank account, keep in mind that the verification process can take up to 4 working days. It's also important to note that Square requires a transactional bank account (an account that allows for both transfers and withdrawals) to support refunds or chargebacks. Prepaid cards or bank accounts without this functionality (such as PayPal) aren’t supported.
If you still need the help of Customer Success after checking your Dashboard, you can reach them via phone on 0800 098 800, from Monday to Friday, 9:00 AM to 5:00 PM.
Hi @VROOM,
Thanks for reaching out to the Community for support with this - Welcome!
I’m sorry to hear about the trouble with your bank, I can understand this would be causing you some concern.
There are a number of possible outcomes, depending on whether the transfer failed, or was bounced back to us by the bank. Regardless of the scenario, try not to worry, our Customer Success team will be happy to help you locate the funds. As we have a limited view of your account here on the Community, due to it being a public forum, Customer Success would also be best placed to advise on the next steps.
Before reaching out to the team, I’d suggest that you check the Balance of your Square account to see if the funds are reflected there. I’d also recommend that you check the current verification status of the bank account you had linked.
If you need to update the linked bank account, keep in mind that the verification process can take up to 4 working days. It's also important to note that Square requires a transactional bank account (an account that allows for both transfers and withdrawals) to support refunds or chargebacks. Prepaid cards or bank accounts without this functionality (such as PayPal) aren’t supported.
If you still need the help of Customer Success after checking your Dashboard, you can reach them via phone on 0800 098 800, from Monday to Friday, 9:00 AM to 5:00 PM.
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