Verify Your Square Payroll Bank Account
To verify that the bank account that you’ve linked to Square Payroll belongs to you, we require that you confirm two small amounts that we will transfer and then withdraw from your bank account.
Confirm Your Payroll Microtransfers
When you link your payroll bank account during sign-up or if you change your bank account through Payroll Settings in the Payroll section of your Square Dashboard, we will send two small microtransfers to your bank account to confirm that it belongs to you. To verify your account:
Check your bank account on the next business day. The microtransfers will not appear in your bank account until the next business day.
Look for two small transfers (less than $1.00) on your bank statement.
Visit the Bank Accounts tab in your online Square Dashboard.
Enter the two amounts into the two fields in the Pending Bank Account section.
Click Submit.
If the amounts entered match the transfers sent by Square Payroll, the Verify Bank Transfer section will disappear. If the amounts entered do not match what Square Payroll sent, the two fields will turn red.
Edit Your Payroll Bank Account
To edit your payroll bank account:
Sign in to the Settings tab of your Square Payroll dashboard.
Click Bank Account > Change Bank Account.
Enter the account details.
Click Verify Account.
The verification process is the same as stated above and includes sending two small credits to your account to be verified by you.
Note: Any runs sent before or during the verification process will use the current payroll bank account. The payroll bank account pending verification will not be used until the verification process has been completed. If you do not wish to use the current bank account, you will need to wait until the verification process is complete before processing any new pay runs.
Payroll Microtransfers Troubleshooting
Be sure you have at least $1.00 in your bank account to ensure verification goes smoothly.
If you enter your bank account details after 8 PM PT, the microtransfers may appear in your bank account in 2 business days, rather than the following business day.
If the microtransfers do not appear in your bank account after 2 business days, please carefully re-enter your bank account information in Payroll Settings in the Payroll section of your Square Dashboard.
If you enter your bank account details on Friday or over the weekend, the microdtransfers should appear in your bank account on Monday.
If you are experiencing issues, contact Square Payroll.