Holding the payments and rescheduling payment transfer date

[Crystal7]

Hello, I am a new seller on square. I have received around $2500 in different transactions. Now I can see in my balance that the payment transfer date is continuously extending and suspending payment date.

Can you please help to get rid of this issue.

[ryanwanner · Accepted solution]

Hello @Crystal7 !

Welcome to the Square ecosystem!

First thing to check is that you have verified all your bank account information. When you're on the dashboard, do you have any alerts in the upper right side of the screen? When you go to the Bank Accounts section (Dashboard -> Account & Settings -> Business Information -> Bank Accounts), are there any alerts here?

If all of that is looking good, then I have a bit of bad news for you, unfortunately. When you are a new seller, and especially a new seller with a pretty good start on sales, credit card processing companies like Square have to do their due diligence with your account. They make sure you are running a valid business and you're not trying to skim the system in any way. This usually takes 3-7 business days. Ironically enough, continuing to process sales can slow down this process since there is even more of a potential for bad players to sneak into the system.

Once your account has passed all the verification checks you will start receiving your transfers at the correct times. If it takes longer than 7 days for things to get moving, I'd definitely reach out to support for further information: they can dig into your account a lot further than we can in a public forum.