Consumer complaint received 2024-08-02
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account — 
Company: Block, Inc. (FL)

Subject : XXXX XXXX XXXX for Account XXXX and Withholding of Funds To Whom It May Concern : I am writing to file a formal complaint against XXXX XXXX XXXX regarding the closure of my business account and the withholding of funds. 

Background I set up a business account with XXXX and processed a payment from a customer in XX/XX/year>. Subsequently, I initiated steps to withdraw the funds from my XXXX account. 

XXXX XXXX XXXX XX/XX/year>, I received an email from XXXX stating that they were unable to verify my account and would therefore close it. Believing this decision was made in error, I called XXXX on the following Monday and was informed by a customer service representative that my request would be escalated and I should expect a response within XXXX to XXXX business days. 
By Friday, XX/XX/year>, having received no response, I revisited XXXX website to attempt to withdraw the funds from our customer sale, only to find that I was unable to do so. I called customer support again and was informed that my account had been suspended. The representative claimed that an email had been sent to me on XX/XX/year>, stating that my account could not be verified and would be closed. 

Issues with Notification and Funds Disbursement XXXX. Lack of Notification : I did not receive the email allegedly sent on XX/XX/year>. Despite thoroughly checking my inbox, spam folder, email filters, and deleted emails, there is no record of such an email. XXXX insists it was sent, but I have received other emails from XXXX without issue, suggesting their emails are not blocked or filtered out on my end. 
XXXX. XXXX XXXX Attempts : XXXX made no other attempts to contact me regarding the verification issue. They did not send a letter to my physical address, nor did they attempt to call me, despite having both my address and phone number on file. 
XXXX. Unreasonable Delay in Funds Disbursement : Squares customer support stated that my funds would be automatically disbursed after 90 days. This delay is excessively long and unreasonable, especially considering my bank account details were already verified within my XXXX account. 

Complaint I believe Squares actions to close my account and withhold funds without sufficient notification or alternative contact methods are unfair and detrimental to my business operations. The XXXX delay for disbursing my funds is also unjustifiably long. 

XXXX XXXX XXXX Immediate release of the funds currently held in my XXXX account. 
XXXX. A review and improvement of XXXX notification procedures to ensure multiple contact methods are used before taking such drastic actions as account closure. 
XXXX. The opportunity to verify my account since I never received notification of this requirement. 
XXXX. A formal acknowledgment from XXXX regarding the error in their notification process and a commitment to prevent such occurrences in the future. 

I appreciate your prompt attention to this matter and look forward to your assistance in resolving this issue. 

Sincerely, XXXX XXXX