They hold everything but the first $1,000 for a while. I don't have
Square but it's come up quite a few times in several venues, including
this one. From reports I've seen, after some period of time everything
becomes available pretty much instantly, and if you've been doing small
volumes for a couple of months without problems a phone call will get
your limit raised.
When you get a merchant account from your bank you are vetted based on
the experience the bank has with you, Square doesn't have any background
to rely on so they have to be more careful. If you check the archive
here you'll find that the general experience has been very positive.
Van
On 25/05/2011 3:15 PM, Stephen Pidcock wrote:
>
> I have just received my square and saw something about $1000.00 "retainer"
>
> I did write and didn't hear anything from Square about how that works.
> Would someone have any experience / info about how long it takes for
> the funds
> to be deposited?
> Do they hold the first $1000.00 for a period of time?
>
> Thanks
>
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