As of today, it has been 17 days and Square is still withholding all of our funds (several thousand dollars) that we have taken in.
They emailed us on September 5th that there was suspicious activity on our account (they didn't give any details as to what the activity was).
We assumed the activity was a $0.01 and $0 transaction done by our manager the day before. This was done on purpose as a quick way of getting the work cell phone added to the text marketing campaign.)
We have already explained several times via email, chat and phone calls since September 5th that there was no suspicious activity on our account and that Square should release the funds ASAP.
This is causing a serious disruption in our business operations as we are having to ask our clients to pay by cash/check unless or until we pursue finding a new credit card processing company.
If we keep having clients pay via Square, we can't guarantee our business will be paying any bills this week. We are already one day late on payroll.
This seems very illegal.
Does anyone have any advice for us (besides finding a new payment processor and suing, which we are getting close to doing)? Thank you.
