Transfer Options with Square
With Square, you can choose when to receive your funds. We offer two different transfer schedule options – our standard schedule and a custom schedule (tailored by you to your business hours).
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.
Transfers suspended? Please see our Transfers Suspended FAQ to learn more.
Standard Transfer Schedule Overview
When you activate your Square account, link a bank account and begin accepting card payments, we’ll transfer funds according to our standard schedule. Please note, it can take up to five business days for your bank account to link, which may delay your first transfer. For more information, see our Frequently Asked Questions.
With this schedule, funds accepted before midnight Australian Eastern Standard Time (AEST) will be sent to your bank account by the next business day at 1:00 p.m. Learn more about our standard transfer schedule and review daily transfer times.
Custom Schedule Overview
If your business has unique hours, you can customise the time you’d like transactions grouped for daily transfer. This is called your close of day time.
By setting a close of day time, you’ll receive a single transfer for a full day’s payment activity – making bookkeeping a breeze. Read more about customising your close of day.
By default, your funds will be transferred to your bank account from Monday to Thursday.
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.
Keep in mind any transfer requests received after 11:00AM AEST will be sent to your bank the following business day.
You are able to pause automatic nightly transfers and change to manual transfers, directly from your online Square Dashboard or from the Square app.
Navigate to Settings in your online Square Dashboard or Square Point of Sale app.
Under Transfer Schedule > select Manual.