Hi @chaddd85. Unfortunately, it can take up to 4 business days for new bank accounts to be properly verified and linked to your Square account. It depends on the bank. It definitely won’t happen within 24 hours. In the Square help documents on changing banking information, the disclaimer is made that until the new account is verified, the old account is used. That can’t be stopped. Most likely, your timing for “shutting off automatic transfer” happened too late to stop a pending transfer cycle. That’s unfortunate.
All you can do now is get on the phone (not chat, not email) with Square Customer Service. But be prepared for this to take some time. Once a transfer has started through the ACH system, it can’t be stopped. Your old bank will realize the account is no longer active and return the money to Square. This can take a few more days. Then, Square can initiate a new transfer to your new account, which again will take a day or two. You’re into a waiting game that you can only be patient with until it resolves.
After this gets resolved, I’d recommend completely deactivating your Square account so this doesn’t happen again some day.
Best,
Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)
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