Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
This open class action lawsuit is closed!
This Open Class Action Lawsuit is no longer active. Check out other open class action lawsuits you may qualify to join on our list of open lawsuits.
Are you a merchant who has used a Square credit card reader to process a transaction?
If so, you may be eligible to join a free Square payment fees class action lawsuit investigation.
Unreasonably high fees have been allegedly imposed on merchants who use a Square credit card reader, according to a payment fees class action lawsuit filed in April 2021.
The merchants who filed the class action allege that the credit card processing fees violated antitrust and unfair competition laws and caused them to lose money.
Square Payment Fees Class Action Lawsuit
A group of four merchants filed a class action lawsuit in April 2021 on behalf of themselves and other businesses in certain states that accept payment with Square’s services.
They claim that the credit card processing fee is imposed as part of a price-fixing agreement among banks.
“The Interchange fee is purely a toll that the credit-card issuing banks, in a collective exercise of monopoly power, decided to levy on each credit card transaction,” according to the Square class action lawsuit.
This class action lawsuit is asking the court to direct the credit card giants to change their rules restraining credit card surcharging. The plaintiffs are seeking the maximum amount of monetary relief allowed under the applicable state statutes.
Are you a merchant who uses Square payment for credit card processing? We want to hear from you! Tell us about your experience in the comment section below.
ATTORNEY ADVERTISING
Top Class Actions is a Proud Member of the American Bar Association
LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2024 Top Class Actions® LLC
Various Trademarks held by their respective owners
This website is not intended for viewing or usage by European Union citizens.
62 thoughts onSquare Payment Fees Class Action Lawsuit Investigation
On August 14 2021 I sign up to use square service I had to submit a invoice for a wedding event I was doing the invoice was in the amount $620.00 a few days later they deactivated my account and put my funds on hold for 90 days the email stated the funds will be released on Nov 15th 2021 that day has come and gone and still no reply from square I have called several times still no resolutions they keep telling me they have Escalate my account and someone is working on it and they will email and let me know when the funds will be released well Dec 15th will be one month and still no response from Square I guess they just want people to give up but this is fraud. And Square needs to be accountable for there actions.
I used Square for 2 transactions. I am a small flea market vendor who sold 2 pieces of furniture to 2 different customers. The money was never transferred to my account. I contact square and this is all I get from them Our Account Services team has reviewed your account and determined that we are no longer able to support processing your payments. No reason and they are now holding my money for 90 days I complained to the BBB and got a response back that I was already helped “Our Account Services team has reviewed your account and determined that we are no longer able to support processing your payments.” No reason they are holding my money and refuse to give me any reason why other than their canned response. I can’t see why BBB has them with an A++ rating. I am in if this goes to court
Back in May 2021 I had random charges from a company called Cosmot Avt on my square account. They drained me down to -$289.29 when my balance was previously at $0. It doesn’t make sense how my account could go under $0 like that. I didn’t notice before I had a client the next day and processed their payment of $95.11, bringing my balance now to -$194.09. The $95 I made that day I never got since the balance was negative. I’d lose the $194.09 just to make it even. I filed a dispute on May 13th and have yet to hear anything. I’ve called multiple times and even got told it can take up to 90 BUSINESS days. Each time I called they gave me some bs excuse that it’s being worked on. I had to stop accepting credit cards for 6 weeks until I found a new company. Square’s employees don’t know shit and are under qualified. They do not care to make situations right for small business owners trying to make a living.
Wow. It makes me sad and makes me realize that I am not going to see any of my money with square. I read a lot of your stories and am in the exact same boat, but not as much money as most. I have a small CBD company and went thru squares CBD Program and got accepted. Then they started asking me a lot of personal questions about my customers. I don’t have that information and I feel like it is any of their business. I wasn’t going to fill out a list of questionnaires every time they felt the need to question a customer. I always got my money and these people aren’t using stolen credit cards. They suspended my deposits. So my money is just sitting there. I took square off my website and am using a different payment system. I received and email saying that they deactivated my account and that it was their final decision Any funds currently in your account will be deposited to your linked bank account within 2 business days. Though each bank’s policies are different, funds are typically shown in your account 1 business day after they’ve been deposited. You’ll receive an email as soon as we’ve sent your funds to your bank. Never received an email from them. I emailed them 3 times since then and that email was on 1/24/22. These companies should not get away with this. I feel bad for all you other small businesses who are just trying to make it. We don’t deserve this.
They have held my money, all off it every since I got my card. 2 + years! Impossible to get them to help you! They just play dumb! Have my card, have my app saying money is there, but card won’t work. And they say my email isn’t in their system! Only email I’ve ever used!! It’s a scam! First 2 years you couldn’t even get any one on a phone. Some judge must have made them put up a number? Little good that did!
I need to sue square
We all due I heard a class action was filed but can’t find anything on it
I’m missing 500 dollars and the refunded the customer
Another time they held over 4200 from me and then refunded all my customers and put me out of business I’m a small time gm shop
Hi I’m in Florida and unfortunately an unwitting victim of Squares fraud too! Square has changed their name to “block” and H&R Block is suing them.
I am going to speak with the attorneys I work for this week about starting a class action against “block”., which needs knocked off. I’ll post up a sign up page soon. This is a federal case, the violations are beyond serious. FYI The Federal Trade Commission takes complaints as does the BBB.
They are moving the our money to accounts that yield interest. They are profiting off of the fraud, the patterns have been duplicated too many times to defend.
I’m coming for you Jack!
I have been with square for 8 years. Recently they have failed to deposit twice in one week, totaling almost $2000.00. Trying to contact them is impossible! I have tried for 3 days and finally got a call back, which did me no good at all. I was transferred to the wrong department, which caused me to have to start over, I have emailed back and forth with two different people, but neither can find my missing deposits! I’m sick of dealing with them! I’m ready to look for another company to use! But I want my money from them!!
I repair boats I took on a job got payment upfront for parts finished the job customer paid me remaining balance all was done threw sqare reader then months later customer disputed charges and they took all the money back over 3k gone this should be a crime like theft of services they did a investigation that was not fair I had no chance to talk with anyone and they decided to not return my money for a job i completed
I had a couple of disputes and all the sudden Square started holding my money. Not just to cover the disputes, but every penny. I’m livid. I have kids to feed and rent to pay, and I can’t get a hold of not one person at Square. Thieves they are. Crooks. Destroyers of lives.
I AM ALSO MISSING 3 COMPLETE SALES. JUST VANISHED ALONG WITH MY PRODUCT. WAS ABLE TO CONTACT ONE CLIENT AND GET CASH BUT DID NOT KNOW THE OTHERS BECAUSE IT WAS A FARMERS MARKET… SO OUT 90.00 AND PRODUCT… AND THEY PLAY DUMB.. CNA NEVER SPEAK TO ANYONE DIRECTLY ON BE HELD HOTAGE IN A STUPID CHAT ROOM (THIS IS MINE CRAFT) OR WITH A CUSTOMER CODE (ALMOST IMPOSSIBLE TO FIND HOW TO GET) THEN ON HOLD FOR 1 HOUR AND 49 MINUTES TO BE TOLD YOUR LYING…. THAN ALMOST PASS OUT WHEN YOU SEE MANY OTHER PEOPLE TALKNG ABOUT IN THEIR CHAT ROOMS…
Funds are frozen. After reviewing comments, I’m thinking they are stealing money from consumers
No disputes and they are holding $ 5300. If suspended why did they let me accept 4400? What can be done about this?