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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This Open Class Action Lawsuit is no longer active.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.
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62 thoughts onSquare Payment Fees Class Action Lawsuit Investigation
How do I join in on this lawsuit against Squareup.com? They stole money from my bank and I archived everything and chargeback my own test purchase on them.
They went and reverse a test purchase and closed my account
The are an illegal operation business who needs to be shut down asap breach of contract/ smuggling money / identity theifs scary company
William Taylor I used to use square for my cab service but the fees were so high I had to stop text cards they will hold your money three to four days when I needed that money immediately
As all the others have said they are crooks and are for no reason holding my money. What they are doing is illegal. The bbb has over 5000 complaints saying the same thing about them. I am going to file a complaint with the financial protection. Agency I have used them before and they don’t play around they always are fast and eventually have all the power to shut them down and In tha case of Square someone is going to jail for a long time and I hope it is the super rich dude what his name who is in charge of this Un American company lynching would be to good for him. Small business are already struggling and they hold there money for no real reason.
I set up my account, ran a test payment, everything’s fine. Dec 2021 I did my first art art show using Square. Got an email a few days later saying they were holding all $2400 for 90 days. When I got hold of someone they said I needed to submit more paperwork. I immediately sent twice what they asked for. No reply. I have emailed 3 times, no reply. I called again yesterday and was told I could only email.
I have tried to post on their FB but it’s pretty protected.
This can’t be legal.
We did the same and they are holding $6,600 of our funds for 90 days. Theft!
They are holding my money now for 90 days saying they don’t support my business documents
Same happened to me
Square is a scam
Absolutely
I am a restaurant food delivery business. I only deliver the orders. I don’t not collect the money for the food. My delivery charge is $5.49. Square caps the drivers tips at $5.49. Imagine delivering a bunch of food for 5.49. Businesses and people needs receipts for the tax deduction so they don’t tip in cash. They are limiting my companies right to earn a living. They push me to subscribe and pay for other companies payment forms that are a so-called work around. There are monthly fees and additional processing charges with these. How can they get away with this. It’s nothing but a scam loophole to get more money
They deactivated my account and put the 90 day hold on my funds, $4500!! I’m beyond furious!!!!!!!
Hello the dame thing happen with me. This company need to be out of business. There is so many complaint. How is this allowed here in US, its unbelievable how things are turning bad in this country.
Just doing math on those comments, its over $21K they kept from customers. Someone need to do something to take those thief’s out of business and in jail
I opened an account with Square, after they asked me for some documents to validate that my business was legit. I provided them all they needed, but they still deactivated my account and sent me an email saying that they will held my fund “business Capital” for 90 days, and send me an email telling me that my funds are going to be released in 90 days. After I waited 90 days, they never send me the email, and my funds just disappeared from my Square account and was never transferred into my business account. When I tried to contact them, no one returned my phone calls, emails or chats, so they basically asphyxiate our conversation and confiscated my business Capital!!!!
Square is holding our money too. First transaction using square for my new business and they have closed my account and kept the money taking me out of buisiness.
Our business began in June of 2021 and have used Square since then without incident until yesterday. They are holding $3,450 of our money paid by credit card from one of our clients. We are a mobile food truck and have to set up multiple locations to process by county. Square without explanation deactivated the one of the 5 locations we have which happens to be the one paid by credit card. They are telling us they will hold our money for 90 days. They did NOT provide any explanation as to why our location account was deactivated. We provided ALL of our business documents and bank statements to prove our business status.
Square is holding over $9000 of our money, sent email on 90 days saying it will be released and that was Nov 9th, 2021. Today is 120 days still no email replies and good luck talking to anyone on the phone. I also have two other accounts that have a dispute by the same customer which Square is trying to get us to make payment plans because the customer decided after the job was done they didn’t like the flooring they picked and wants a full refund.
I did a refund in my square account of $966.750 and 1,000 two of the refunds were returned the $966 one was not and squares they locked my account up and they tried to say that there’s no proof that that money was in my account when it was over $2,000 or something dollars and the money was never even taken out the account and they refuse to refund my money and contact me back about my money