question about bank account and getting notificati...

andreasue81 · ‎10-17-2017

Hi guys Im new to square and just relized my last deposit was sent to a bank account that colsed. I read all about what will happen such as "The bank will bounce it back to Square" and Im fine with that but how do I know when or if this is going on? I didnt get any kind of notification and on my accout page it just says the payment was depositied.... eeekk is this normal to not have any type of notifications as to it bouncing or when and if it will come back to square. I went and changed my bank info and got it varified now to the new account but I was just worried that somthing went wrong since I never got any kind of notification. Is the payment in limbo or is everything working the way it should??? I dont know where or how to get any updates or notifications.

Thanks

VanKalkerFarms · ‎10-17-2017

Square doesn't know it bounced, or in all likelihood, it hasn't as most banks still receive deposits on closed accounts. So first thing to do is call the bank and check on the old account.

Bob Van Kalker
My Van Kalker Farms Garden Center website
My Rise'n Roll Bakery Schererville Indiana Facebook Page
My Rise'n Roll Bakery Cedar Lake Facebook Page

andreasue81 · ‎10-17-2017

Thanks for the reply. I did call the bank and they told me that they dont recive anything on closed accounts and so it would just go back to square. How come square does not know of this bounce?

EJ_ · ‎10-19-2017

@andreasue81 Sorry if this had you worried all week and great response @VanKalkerFarms.

I can see how some sort of notification that the funds bounced back to you would be helpful.

The best way to explain it would be that we can only notify you on things that we can confirm and have visibility to.

In this instance, we can confirm we sent the funds to that account, however once we send the funds we don't have visibility into what happens from there since that process is driven by your bank.

If a bank rejects the funds and kicks them back, you'll want to keep an eye on your Square balance.

It can take a few business days for this to happen, but they should get to you soon if they haven't already.

andreasue81 · ‎10-19-2017

Thanks I can see the funds now.

EJ_ · ‎10-20-2017

@andreasue81 Great to hear, and I appreciate the feedback on being notified somehow. That's a great idea and would alleviate a lot of stress for a lot of sellers.

Let me know if you need anything else!

question about bank account and getting notification of deposits