Square Transfers

Get your money – right when you need it

With brand new instant transfers, move your money faster than ever for a small fee – or choose standard transfers free of charge.

Move your money your way

See all the ways you can transfer your money with Square.

Compare transfer options Speed Price
New! Instant In minutes – your money is instantly transferred to your linked bank account 1.5% of amount
Standard Next day into your bank account Free
Custom close of day Next day with a custom close of day Free
Manual Store a balance with Square and initiate transfers on demand Free

Total control of your cash flow

Ready, set, transfer

Transfer funds as soon as the next day with standard transfers when you link your bank account. Need your money faster? Transfer instantly for a 1.5% fee.

Keep an eye on your money

Send and track your money the way you want – from customised close-of-day transfers to detailed activity and sales reports.

Choose how you transfer

Pick the transfer speed that’s right for your business – whether you need your money instantly, tomorrow or on demand.

All your questions, answered in one place

  • What is an instant bank transfer?

    An instant bank transfer is the movement of money from one account to another in a flash. Where traditional bank transfers can take up to 3 days, you can expect instant transfers to become available in your account in minutes (or even seconds).

  • What are the benefits of instant bank transfers?

    Instant bank transfers are a great way to get money from sales into your linked bank account as soon as you make a sale. This will help you manage cash flow for your business by giving you access to cash when you need it.

  • Are instant transfers secure?

    Yes. Instant transfers are made via the New Payments Platform (a nationwide payments network used by all the big banks). Square ensures instant transfers are made with bank-grade encryption.

  • How long does an instant transfer take?

    Instant transfers will arrive in your account in minutes (or even seconds).

  • How do I send an instant transfer with Square?

    Making an instant transfer is as easy as 1-2-3.

    1. Go to Balance in your Square app.
    2. Select Transfer now.
    3. That’s it!
  • Are there any transfer limits?

    You can transfer a maximum of $5,000 AUD per day. Small businesses who are new to Square may have a smaller limit of $500 AUD per day. The minimum you can transfer is $5.

  • Do I need to be a Square seller to use Square instant transfers?

    Yes. When you take payments with Square, you get access to instant transfers. Simply make sales with Square and visit Balance in your Square app to move your money in moments to a linked bank account.