My company checking account was compromised in December. The old account remained open but restricted until this last Thursday. When it happened I immediately connected the new account to my square account.
Well, I got an email from Square on Friday telling me that a new account had to be linked. Saturday morning I attempted to link the new account(again) through plad and it wouldn't allow it. So I had to manually do it. I pay my employees on Wednesday and the manual verification said it would complete Thursday, so I attempted to cancel the verification and maybe try connecting it to my savings account. No go. It let me cancel, told me it was canceled, but it didn't actually cancel. Woke up this morning checked my bank account and saw that the one dollar verification stuff happened. Checked my square account and no balance. Looked further and saw that it was transferred to the closed account, the same account that they emailed me telling me they couldn't transfer to. Looked even more further and saw that it was always transferring to the old account, I'm guessing my bank automatically transferred funds to the new account. Spent an hour on the phone with customer service and was told that I couldn't do anything but wait and hope the money was returned back into square within 7-10 business days. In the mean time turn off automatic transfers. Can't cancel the verification because it's already started, can't link a new account because of the verification. Can't have access to my money because most of it is lost and the new money that comes in will have to sit until the account is verified. At this point I asked her what would happen if I closed the account... I explained this along with a fraudulent dispute in November has made me lose confidence in this company. I was told that I probably wouldn't get any of my money if I closed the account. I am at a complete loss for what to do next.
