What happens to my money if my bank account is closed and my new one is still pending verification?

[Hecktick]

Has anyone gone through this?

[Spenser]

You can still accept payments while your bank account is being verified. Any payments you accept during this time will remain in your Square balance until the bank verification process is complete. Afterwords, we'll send your deposit. You can also check on your bank account from your Square Dashboard. Hope that helps!

[Jukes619sd]

Did you ever find out what would ld happen in this situation. If my closed account registered with square has a negative balance, but is there closed, can that bank take my square transfer towards my negative balance on the closed account without my permission? 

[Kelly]

@Jukes619sd Sounds like you may be having a different problem than Spenser's answer addressed. While I can't speak specifically about your account, as the community is a public platform, our Support Team can help answer your question! 

[Morgasmo]

I have the same situation and cannot get an answer from square about how long it wil take to get my funds to bounce back to my, (now), bank account on file, like they said it would. It has been 19 days...

Has anyone had the same issue and did you ever get your money? 

Is it possible for a bank with a negative balance that has been closed over 5 years to take your depositr if it was accidentally sent to that closed account?

[smrba]

It shows my new account as verified.  Just wondering how long it will take square to put the depost thru.  It's been several days. Thx.

[Kelly]

Square sends out all of our deposits on a standard deposit schedule. Deposits are initiated every weekday evening for payments taken Monday - Friday before 5 p.m. PT (8 p.m. ET).

Deposits for sales made prior to 5pm PT will arrive in your linked bank account by the following business day. You do have the ability to adjust your close of day or send your deposits instantly if you want your funds quicker! 

[Kls]

My money was deposited into a closed account. I have contacted the bank and they said its has to do with Square. I have reached out via email about the money....no response. Its been 20 days

[Kmathis]

I am having the same issue. Myself and two others sent money to an old cash account and we along with the intended recipient are not receiving any help recovering funds. She tried to link the accounts but they say it's the wrong phone number for the old account even though that's the number I sent funds to so it can't be the wrong number. It's been unresolved for 10 days.

[Tom]

Hi @Kmathis, sorry to hear that you're encountering trouble with payments as well. It sounds like this happened with Square Cash in your case.

Since these forums are public and your privacy is important to us, we need to have you continue to work with the Cash Support team directly. If you have a case open with them, please reply to their most recent email. I will let them know about your post here as well.

Unfortunately, phone support for Square Cash is not available at this time. Thanks for your flexibility and understanding! The Cash team will help get you pointed in the right direction.

[Tom]

Hey @Kls, really sorry to hear about the trouble with your deposit. I went to check on this and, while I'm not able to access and share account specifics in the online community, it looks like a team member reached out via email on June 21, 2017. Please check your email inbox for a message with the subject line, "Message from Square Support" — sometimes our emails end up in spam so you may want to check there.

If that doesn't resolve this, please feel free to call us at 1-855-700-6000 and enter in your customer code. Our Support Team will make sure this gets sorted out ASAP.

[Morgasmo]

Did you ever get your money?

[Helen]

If you still haven't received your funds @Morgasmo please let our Support Team know so they can help you with the next steps! Sorry for the trouble! 

I also recommend reaching out to your bank directly to ask them if they have received the deposit even though the account was closed and had a negative balance.