Bank Account Troubleshooting
If your bank account verification was unsuccessful, you’ll see an alert in the Bank Account tab in your online Square Dashboard.
Why Can’t I Link My Bank Account?
There are a few different scenarios that can cause bank verification to fail:
Non-Australian Bank Account
If your Square account is registered to accept card payments in Australia, you are required to add valid Australian bank account details.
Non-transactional Bank Account
Square requires the ability to credit and debit funds from your account, in the event of a chargeback or refund. A non-transactional account—such as an online saver or PayPal account—does not allow funds to be debited.
Bank Account Typo
Carefully enter your bank account information without a hyphen. Typos in your BSB or account number can cause the bank verification to fail.
Square will transfer then withdraw an amount less than $1.00 from your bank account as part of our verification process. You’ll need at least $1.00 in your bank account before you restart the bank verification process as our verification transfer and withdrawal may process simultaneously.
Bank Verification Cancelled
If you click Cancel Verification after entering your bank account information, the bank verification process will be cancelled. To restart the verification process, you’ll need to re-enter your bank account information.
One Signatory Required for Direct Debit or Withdrawal Authorisation
There must be only one signatory for your bank account. Square requires the ability to set up a direct debit on the account, in the event that you process a refund for a transaction we have already transferred to you. When Square tries to set up the direct debit, our request will fail as not all signatories will have authorised us to do this.
Learn more about linking your bank account. If you run into any issues linking your bank account, read about bank account troubleshooting steps.