Consumer complaint received 2025-12-22 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Money was not available when promised — 
Company: Block, Inc.
State: OK

Complaint narrative:
To Square Executive Leadership, Legal, and Compliance Teams, I am writing on behalf of XXXX XXXX XXXX XXXX regarding the closure of our Square merchant account and the continued withholding of merchant funds exceeding {$15000.00}. While I understand Squares contractual right to discontinue service, the ongoing retention of earned fundsparticularly with reference to a proposed 90-day holdis causing immediate and substantial harm to my business.

All transactions associated with the withheld funds are completed, legitimate, and fully fulfilled. Customers have already received the products and/or services purchased. There have been no substantiated chargebacks, fraud determinations, or unresolved customer disputes that would justify continued retention of these funds. 

As a direct result of Squares actions, my business has been forced to suspend operations, resulting in lost revenue, reputational harm, and an inability to meet ongoing business obligationsdespite Square having already assessed and collected its processing fees. 

Please be advised that this matter is being formally escalated and will be included in a complaint filed with the Consumer Financial Protection Bureau ( CFPB ) due to the material financial impact, lack of transparency, and absence of a clearly articulated legal or contractual basis for prolonged withholding after account closure.

I am formally requesting the following in writing : 1. The specific contractual provision ( s ) or legal authority relied upon to withhold fully earned merchant funds 2. Identification of any specific transaction ( s ) alleged to be problematic 3. Confirmation of whether this hold is being treated as a compliance review, fraud investigation, or risk assessment, and under what standard 4. A definitive release date for the funds, not an open-ended or conditional estimate Continued withholding under these circumstances raises serious concerns, including but not limited to unjust enrichment, failure to remit merchant proceeds, and interference with lawful business operations. I am making every good-faith effort to resolve this matter without further escalation ; however, continued delay without substantiated justification leaves me no choice but to pursue all available regulatory and legal remedies.

This correspondence serves as a formal notice of dispute and demand for resolution. Please confirm receipt and advise next steps within five ( 5 ) business days.

Square closed my merchant account for XXXX XXXX XXXX XXXX but is withholding over {$15000.00} in earned funds and advising a potential 90-day hold. All transactions were legitimate, completed, and fulfilled. Customers received their products/services, and no fraud, chargebacks, or disputes have been substantiated. The continued withholding of funds has caused business interruption and financial harm. I am requesting immediate release of earned funds or a written legal and contractual justification with a definitive release date.

Company response to consumer: Closed with explanation