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Square can suspend or close your account at any time, for almost any reason, including suspicion of policy violations, with little or no advance notice.
This analysis describes what Square's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
Losing access to your payment processing account without warning could immediately halt your ability to accept payments and access your funds.
The updated terms modify how arbitration disputes are resolved when 25 or more similar claims are brought against Square. Previously, Square's terms referenced 'Bellwether Arbitration procedures' under which test cases would be selected and remaining demands could proceed individually under standard rules if settlement failed. The updated framework establishes a mandatory mediation phase after initial arbitrations resolve, and requires remaining claims to proceed in batches of up to 100 rather than individually, with one arbitrator and consolidated fees per batch. This may reduce the procedural flexibility for claimants pursuing claims outside the initial test-case group, though the batch structure may reduce overall administrative costs. The terms now explicitly state that NAM shall administer batches concurrently and that parties will engage in a 'single global mediation' before batch proceedings commence.
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The broad unilateral termination right, combined with fund-hold provisions, creates significant operational risk for merchants dependent on Square; enterprise procurement teams should assess business continuity implications and maintain backup payment processing capabilities.
Regulatory citations, enforcement risk, and due diligence action items.
Provision-level monitoring, governance timelines, and regulatory mapping built from archived source documents and historical version tracking.
Losing access to your payment processing account without warning could immediately halt your ability to accept payments and access your funds.
No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by Square.