25 January 2024 , 17:10
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The Square banking site earlier crashed, with a huge spike in people reporting issues with the website.
Dozens of people reported problems in transferring funds, with a significant spike in reports - which is usually in the single figures. Reported problems largely refer to transferring funds to other accounts, but others have reported issues in using the website.
Fund transfers make up 60 percent of the reports, 26 percent are issues with payments while 14 percent concerned website issues. The reports were made on DownDetector.com, which shows a “view of problem reports submitted in the past 24 hours compared to the typical volume of reports by time of day".
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Square confirmed at 5:04pm that they were dealing with problems concerning "delays in transfers and balances updating". At 5:15pm they added on their current status page: "Our engineering team has released a fix to address the disruption impacting Square Banking services, and are monitoring the outcome of this fix. We will update again here once they have confirmed that everything appears to be working as intended."
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Users are having trouble receiving payments on Square (Getty Images)The fault was successfully addressed by 5:37pm, when Square released an update which read: "We have confirmed with our engineering team that the fix released to address the disruption impacting Square Banking is working, and those services are working as intended. Thank you for your patience while we worked to address this."
The spike in reports on DownDetector has now rapidly come down again following the fix earlier today. Transfers of funds should now appear as usual for those using the financial service.
One user, Ashley Carruthers, commented on DownDetector: "Having issues taking payments with square. All payments are saying charged on peoples accounts but then declining/pending on square. Having to use Venmo to collect peoples payments." Holly Hanson said: "Is anyone else having issues transferring their funds? It just says transfer error. Instant transfer failed. And to visit support center." Square users all across the US are having problems with transferring funds, according to a DownDetector map revealing where the reports have been made from.
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The banking website is aimed at small-and-medium sized businesses to allow them to accept credit card payments and use phones or tablets to take payments in a point-of-sale system. It was conceived by Jack Dorsey, former CEO of Twitter and co-founder of Block, Inc., which develops Square. The service does not permit transactions related to the transfer of firearms, but denies that they are weighing into the firearm restriction debate.