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Receive Transfers with Square for Retail

In order to receive transfers with Square for Retail, you’ll need to complete the sign-up process, verify your identity and link a supported bank account.

Information Required to Sign Up

We are required by banking industry regulations and applicable law to verify a personal identification number from a government-issued ID, date of birth and full name and address for the primary account holders.

The following information is required to activate a Square account:

  • First Name and Surname

  • Australian home mailing address

  • Date of birth: Current credit card regulations require our customers to be 18 years of age or older to create a Square account.

  • Australian contact telephone number

  • Government-issued ID (Passport, Driver Licence or Medicare card)

  • Australian-based bank account

*A PO Box can be used for hardware shipping but not as a home address for activation.

If you’re unable to provide the information above, you won’t be able to accept card payments, but you can still use Square to track cash payments and provide your customers with email and text receipts. Learn more about Sign Up Troubleshooting.

Note: If you’ve been added as an employee, you will not need to provide this information.

The following information is optional when activating a Square account – not required, but recommended for businesses and organisations:

  • Australian Business Registration

  • Occupational licence

  • Official certification of trade

  • Industry standard documentation

  • Seller’s permit

Square’s card-processing system meets Level 1 PCI Data Security Standards, so Square’s got you covered.

Link Your Bank Account

Once you’ve verified your identity, you can link your bank account online:

  1. Visit Account & Settings > Bank Accounts in your online Square Dashboard. If you are changing your bank account, select Edit Bank Account.

  2. Enter the requested bank account information. You can find this information listed via your Internet Banking, or you can contact your bank to confirm this information.Routing # and account # on a check

  3. Click Verify.

Deposit Options

Next Business Day Overview

When you activate your Square account, by default your deposit option will be Next Business Day. With this schedule, your funds are usually deposited within one to two business days of a transaction. Regardless of your transaction amounts, types or frequency, deposits are initiated Monday through Thursday at 12 p.m. AEST for payments taken Monday to Thursday and will arrive in your linked bank account in one to two business days. Payments taken on Friday will be sent Sunday night and will arrive in your bank account on Monday (or Tuesday if Monday is a bank holiday).

The only thing you have to do is link a supported bank account for your money to be sent to.

Our Next Business Day schedule article has all of the information you will need to review daily deposit times and learn how to set your close of day.

After you link your bank account, you can start processing card payments, and receive deposits with your Square for Retail account.

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