Consumer complaint received 2024-05-08 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: Block, Inc.
State: AZ

Complaint narrative:
I am the owner of XXXX XXXX XXXX XXXX, back in XX/XX/XXXX I was approved for a loan through Square that was deposited into my Square POS banking account. The loan was being paid back via my transactions at XXXX % per transaction. Unfortunately, I ended up closing down my business in XXXX of XXXX and I contacted Square to notify them. The representative I talked to name was XXXX, she stated to me that since I am not permanently close she did not need to put me on a payment plan and that when I reopen back up I will start to pay my loan back up at the same rate of the XXXX %. I reopened my business back up on XX/XX/XXXX. I have reconnected everything back to Square from my POS system with my website that I pay {$90.00} a month for, my Square appointments I pay {$30.00} a month for, and my website domain that I pay {$12.00} a year for. Business is not all the way running like it use to since I have been closed for over a year however Square has consistently been taking there XXXX % out of my transactions. I connected my business bank account to my Square system to be able to transfer my funds from Square to my actual bank account on XX/XX/XXXX. As soon as I connected my account I got an email from square saying they were debiting my account a whole {$210.00}. I did not authorize this or give them permission to do this, this is also not the terms that was discussed with XXXX the previous representative that I talked to and she told me how to go about reopening my business back up. Since I did not give Square permission to withdraw money from my personal business account they have blocked me from access my business funds from any transactions made on the Square POS system. In my contract in section 6d is says a must maintain business to allow them to get their percentages from my transactions however, they are now preventing me from doing that. I have had multiple transactions that Square is now hiding and it looks like my business is not up and running. On XX/XX/XXXX I had to refund my client {$80.00} because Square would not let me access my funds in my account. The client ended up paying me cash instead. On XX/XX/XXXX I had XXXX clients pay an invoice and square took the money from my square account including the XXXX % but makes it seem like none of either transactions has occurred to now I have to refund these XXXX clients to get my funds. This is a violation they are causing against my contract and my bank account with them. Before refunding the {$80.00} back to my clients I had {$65.00} form the {$80.00} after they got their XXXX %. They blocked me from accessing it I could not transfer funds and my square bank card kept getting declined. All along there was money in the account. Now it shows I have {$0.00} but I have been having transactions going through and they are not depositing my funds in my bank account. I am now forced to take my business to another company which in terms stops them from collecting anything. I have spoken to an attorney and we have filed a claim with the FDIC and have sent all supporting documents highlighting the breach and laws under banking consumer rights that Square are violating from me.

Company response to consumer: Closed with explanation