Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #12303035
Complaint Overview
Complaint ID: 12303035
Company: Block, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Money was not available when promised
State: Massachusetts
ZIP Code: 02324
Date Received: 2025-03-03T12:00:00-05:00
Date Sent to Company: 2025-03-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Company Involved : Square ( Block, Inc. ) Issue : Funds Frozen Beyond Stated Holding Period Description of What Happened : In XX/XX/year>, Square ( Block, Inc. ) froze my account and withheld my funds, stating that they would be held for XXXX days before becoming available for withdrawal. It has now been over XXXX years, and I still do not have access to my money {$73000.00} USD. I have repeatedly contacted Squares customer support via chat and phone, but I only receive generic responses stating that my account is deactivated, with no explanation about my funds. Their support agents refuse to provide any information on why the funds are still being held or when they will be released. Square has failed to provide any valid justification for holding my money beyond their stated timeline. I have sent multiple inquiries, yet they continue to ignore my requests for transparency and access to my funds. This is an unacceptable business practice and may constitute unlawful withholding of funds. I am requesting CFPBs intervention to force Square to either : 1. Release my funds ( {$73000.00} ) immediately, as they have exceeded their own XXXX hold period. 2. Provide a clear and official written explanation on why my money is still being held and under what legal authority. I believe Square is intentionally delaying access to funds that legally belong to me, and I urge CFPB to take action against them for this predatory behavior. Thank you for your assistance in resolving this matter.
Frequently Asked Questions
What is Complaint #12303035 about?
Complaint #12303035 was filed against Block, INC. regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2025-03-03T12:00:00-05:00.
How did Block, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Block, INC.?
Yes, visit the Block, INC. company profile at readthecomplaint.com/company/block-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.