Set up and edit transfer options
About transfer options
With Square, you can choose when to receive your funds. We offer a few options — our standard transfer schedule, a custom transfer schedule (tailored by you to your business hours), or transferring your funds to your Square Card.
Square doesn’t have transfer limits with our standard or custom schedules. We won’t hold funds based on the amount, frequency, or type of transaction.
There are multiple ways to transfer funds:
Standard next-business-day transfer: Transfer funds according to our standard schedule. All Square merchants start with our standard transfer schedule.
Instant transfers: Instantly send funds to your linked bank account using your debit card 24 hours a day, 7 days a week, for a 1.75% fee per transfer.
Same-day transfer: Send funds to either your linked bank account or debit card for a 1.75% fee per transfer. Funds are sent to your linked debit card 15 minutes after your close of day, every day.
Manual transfer: Choose when to transfer your funds manually. Funds arrive in your bank account the next business day.
Before you begin
Before you receive your first transfer from Square, you need to add a verified bank account to your Square account. Learn how to link and edit your bank account.
If you’re using instant transfers or same-day transfers, make sure you update your linked bank account in your transfer settings to prevent funds from being sent to a previous account. You can start the verification process from your Square Dashboard or Square Point of Sale app.
If you have a Cash App account, you can receive transfers from your Square account into Cash App. This option is available for standard transfers only (not instant transfers) and can take up to four business days (excluding weekends and holidays). Square isn’t able to expedite this process. Learn more about Cash App direct deposit.
Review transfer options
Square offers multiple ways to transfer your money.
Payments taken before 5 PM PT/8 PM ET will be available in your bank account the next business day. Payments accepted on Friday before 5 PM PT will post to your bank account by Monday morning (depending on your bank’s processing speeds).
Payments taken after 5 PM PT/8 PM ET will be available in your bank account by the second business day. Next business day transfers are not sent on Saturdays.
Your minimum balance must be $25 for instant transfers and $1 for same-day transfer after Square’s processing and transfer fees. Instant transfers cost a 1.75% fee per transfer, in addition to Square standard card processing fees. Any balance not transferred instantly will be sent according to your normal transfer schedule.
New Square sellers start with a limit of one instant transfer per day of up to $2,000. As you run and grow your business with Square, a higher daily transfer amount may become available.
Instant transfer may not be available for sellers using Square APIs until they have sufficient account history.
With same-day transfers, your funds are sent directly to your bank account at 5:15 PM PT/8:15 PM ET or 15 minutes after your close of day time. You’ll receive an email notification once your funds are sent to your bank account. Funds that are not eligible for same-day transfer will be sent to your linked bank account in one to two business days.
To use same-day transfer, you must have a minimum balance of $1 after Square’s fees. You can send payments as large as $10,000. If your daily balance exceeds $10,000, you’ll receive multiple transfers from Square. There is one exception: Individual payments greater than $10,000 won’t be sent via same-day transfer or instant transfers. When this occurs, these payments will be sent via next-business-day transfer and will be available within one to two business days to your linked bank account.
Instead of automatic transfers, you can enable manual transfers to choose when to transfer your money. Your funds will be available in your Square balance, and you can decide when to transfer them to your linked bank account. Your funds will then arrive in your bank account the next business day—at no extra cost.
Select a transfer schedule
- Sign in to your Square Dashboard and select Settings > Account and settings > Transfer Settings > Transfer.
- Under Transfer Speed, select Same-Day to enable same-day transfers for every day of the week, or Custom to select your preferred transfer speed on a per-day basis.
- If using Custom, select a business day to adjust its transfer type.
- Select Save.
- Enter your bank information and select Save.
- Verify your bank via the email sent to the address associated with your Square account.
- Open the app and tap More from the navigation bar at the bottom of your screen.
- Tap Settings > Account > Transfers.
- Under Transfer Speed, select Same-Day to enable same-day transfers for every day of the week, or Custom to select your preferred transfer speed on a per-day basis.
- If using Custom, select a business day to adjust its transfer type.
Initiate an instant transfer
Square transfers your eligible balance into the bank account associated with your linked debit card after you’ve manually triggered an instant transfer. You’ll receive a confirmation email when the instant transfer is successful. If initiating from the Square app, you’ll also see a transfer confirmation.
There are three ways to initiate an instant transfer from your Square Dashboard.
- Sign in to your Square Dashboard.
- From your Home page, select Transfer Now > Transfer Now.
You can also initiate transfers from your Square balance.
- From your Square Dashboard, go to Money > Balance.
- Select Transfer Now.
Lastly, you can initiate transfers from your settings.
- From your Square Dashboard, select Settings > Account & Settings > Money > Transfers.
- Select Transfer now.
Adjust weekend balance
If you choose next-business-day transfers, we keep your Friday transfers in your balance over the weekend by default, so you can access your funds instantly if needed. If you do not instantly transfer over the weekend, your funds still arrive by Monday (or Tuesday, if Monday is a bank holiday).
If you’d like your Friday transfer to be sent out Friday night, you can disable your weekend balance from your Square Dashboard.
Sign in to your Square Dashboard and select Balance.
Go to your Friday transfer settings.
Toggle off Weekend Balance.
Select Save.