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Deposit Options with Square

With Square, you can choose when to receive your funds. We offer two different deposit schedule options – our standard schedule and a custom schedule (tailored by you to your business hours).

Square doesn’t have deposit limits with our standard or custom schedules. We won’t hold funds based on the amount, frequency or type of transaction.

Deposits suspended? Please see our FAQ to learn more.

Standard Deposit Schedule Overview

When you activate your Square account, link a bank account, and begin accepting card payments, we’ll deposit funds according to our standard schedule. Please note, it can take up to four business days for your bank account to link, which may delay your first deposit. For more information, see our frequently asked questions.

With this schedule, funds accepted before midnight Melbourne time will be sent to your bank account by the next business day at 1 PM. Learn more about our standard deposit schedule and review daily deposit times.

Custom Schedule Overview

If your business has unique hours, you can customise the time you’d like transactions grouped for daily deposit. This is called your close of day time.

By setting a close of day time, you’ll receive a single deposit for a full day’s payment activity – making bookkeeping a breeze. Read more about customising your close of day.

Manual Deposits

By default, your funds will be deposited to your bank account every night, from Sunday to Thursday.

Instead of automatic deposits, you can enable manual deposits 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.

You are able to pause automatic nightly deposits and change to manual deposits, directly from your online Square Dashboard or from the Square app.

  1. Navigate to Settings in your online Square Dashboard or Square Point of Sale app.
  2. Select Deposits.
  3. Under Deposit Schedule > select Manual.