Bank Account FAQ
Accepting payments is the core of running your business with Square, so it’s imperative to Square that you have control over your funds. Below are the most common questions from sellers when linking or editing their bank account with Square. Please review the information below if you’re having trouble linking or editing your bank account.
How do I see which bank account I have linked to Square?
View your linked bank account from your online Square Dashboard. We’ll also send you an email confirming any transfers with the last three digits of the account we transferred to.
How do I edit my bank account?
Can I accept payments with Square before I have a linked bank account?
Yes! You’ll be able to accept payments through your Square account while you’re waiting for your bank account to verify. Any payments you accept during this time will remain in your Square balance until your bank account is linked. Once the verification process is complete, Square will send all funds in your Square balance to your bank account within 36 business hours once the account has been linked.
You can check your balance anytime via the Balance tab of your online Square Dashboard.
What if I’m updating my linked bank account?
We’ll continue to send transfers to your currently linked account until your new bank account is verified. If you’d like to unlink your current bank account, contact us. This will allow your transfers to remain in your Square balance until your new account is verified.
Can I link a prepaid bank account to Square?
No, Square requires a transactional bank account that allows for transfers and withdrawals (in case of refunds or chargebacks). Prepaid cards or online-only accounts, like PayPal, aren’t supported.
What is Square’s bank linking process?
You can choose to link a transactional bank account to your Square account during account creation or at a later time from your online Square Dashboard and the Square app. Once you provide Square with your bank information, we’ll verify that we can communicate with the account by sending and then debiting a small amount to and from your account (resulting in no difference to your balance). Be sure you have at least $1.00 in your bank account before attempting to link it to Square to ensure verification goes smoothly.
Learn more about linking your bank account.
How long will it take to receive my first transfer?
The bank account linking and verification process usually takes a few minutes, but for some banks verification can take up to 5 business days (excluding weekends and holidays). Square isn’t able to expedite the verification process. After your account is fully verified, we’ll send transfers according to your transfer schedule. Learn how to check your bank verification status.
What are Square’s transfer schedule options?
With Square’s automatic transfer schedule, Next-Business-Day are usually transferred to your bank account within 36 business hours of the transaction. If you’ve set a custom close of day time, transfers can be sent 1-2 business days from the time of the transaction. Learn about your transfer schedule options.
Why don’t I see a recent transfer in my bank account?
If your bank account is linked and completely verified, you should see transfers in your bank account within 1-2 business days depending on your close of day schedule. Check your online Square Dashboard or the Balance section of the Square app to see if we’ve sent your transfer or read more about missing transfers.
Note: Balance transfers are not sent on weekends and public holidays may cause delays in transfer times.
Why did my bank verification fail and what should I do about it?
Bank verification can fail for a number of reasons: if your bank account is non-transactional and we can’t transfer and debit from it, if you have insufficient funds in your bank account when we try to verify the account, or if there was a typo entered when you input your bank information. Your bank may also require an ACH number from Square. If your bank failed due to any of the reasons above, learn how to fix a failed bank verification.
How do I link different bank accounts to each of my business locations?
To link a different bank account to each business location, you’ll need to:
Visit Locations in your online Square Dashboard.
Select a location.
Under Bank Information, click Add a New Bank Account and enter the requested information.