@Maxvicious Just a quick note that account specific questions can't be answered in the forums and you can contact customer service by hitting the help icon in your online dashboard and it will walk you through contacting support.
That said, this could very well be the case. New accounts do not have a transaction history for the Square algorithms to look at, but unfortunately a new account is at a much higher risk of fraud than an account that has been doing business for any amount of time. It is not uncommon for someone to try to open a square account, use some stolen credit cards, and quickly get the money and "skip town" so to speak. Square will often review new accounts for suspicious activity to protect the integrity of the square brand and the community at large that includes sellers like me and you.
The safest transaction is an in person transaction with a chip card that is tapped or dipped. These transactions you are protected from fraud. Swiped transactions are the next level, and ever since the EMV shift, there is some liability for fraud on the seller in case of a charge back if the card had a chip. The next step are keyed transactions or card not present. These transactions come with a higher rate due to the nature of fraud and risk associated with them.
So if you open a new account and have big big transaction with no other history it is a red flag. Now if you are trying out your account, instant transfers are still a form of credit as square does not actually "collect" the money from visa/mastercard/your bank, until the transaction settles that night or whatever the magical clearinghouse does in the background to actually move that money around. So on a new account, I could see this as being the reason an instant transfer won't go through, just yet anyway. Now this is not science or policy, just based on my experience and reading many many many customer experiences over the years.
I hope this gives you a little insight and helps you to try to conduct the safest transactions you can.
Donnie-M
Donnie
Multi-Unit Manager
Order Up Cafe/Tombras Cafe/Riverview Cafe/City County Cafe
Roddy Vending Company, Inc.
www.OrderUpCafe.com
Using Square since July, 2017
Square Champion
Breaker of Things
"Good judgment comes from experience, and experience comes from bad judgment."
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