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Business to personal account money transfer - on hold?

Contributor

Business to personal account money transfer - on hold?

Hello, I have one quick question I can't find an answer for.

 

My business partner got $1000 from our client for digital services. As that account was new it went on "hold" but it lasted not 21 days but only like 3 business days so we were happy. His balance is available, seems all is cleared. So he sent $500 as family and friends (gift) to his personal account. And that payment went on hold again?

 

Is there anything he can do or people, in general, need to do if you are sending yourself money?

2 REPLIES 2
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Contributor

Re: Business to personal account money transfer - on hold?

Any info?

Moderator

Re: Business to personal account money transfer - on hold?

Hello @ch1LL,

 

Thanks for reaching out! I'm sorry to hear that $500 went on a hold for another period of time. The kind of holds you're detailing sound a bit like our payment holds that are placed more for security reasons or if you have little to no history on your account. There's a great Help Center article that breaks down a bit of the 'why' behind these holds: 

Why is my payment on hold or unavailable? 

 

In regards to the time-frame of the hold, the only definitive way to get the money released sooner is here. In the future, I'd recommend withdrawing the funds from the main account and then possibly divvying it up afterwards. 

 

I hope that helps a bit,

 

 - Jon K


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