With Square’s standard deposit schedule, deposits are initiated every weekday at 1 PM for payments taken Monday - Friday before midnight Melbourne time. Deposits for sales made prior to midnight Melbourne time will arrive in your linked bank account by the following business day.*
After you activate a Square Point of Sale account and link a bank account, funds are automatically sent to your linked account as per our standard deposit schedule. Our standard deposit schedule is the quickest way to receive your funds.
With our standard schedule:
- Payments are sent to your bank account by the next business day.
- Deposits are not sent on Saturdays or Sundays.
- Depending on your bank’s processing speeds, deposits will normally be available in your bank account on the same day they’re sent by Square.
- Deposit cutoff and initiation time will adjust accordingly with daylight savings time.
- Banking holidays may affect deposit timelines.
The table below details standard deposit times.
Standard Deposit Schedule
|Transaction Date||Deposit Initiated|
|Monday||Tuesday 1 PM Melbourne time|
|Tuesday||Wednesday 1 PM Melbourne time|
|Wednesday||Thursday 1 PM Melbourne time|
|Thursday||Friday 1 PM Melbourne time|
|Friday through Sunday||Monday 1 PM Melbourne time|
*Deposit times are approximate.
You can also customise your deposit schedule. Learn more your deposit schedule options.