Transfer Options with Square
About transfer options
With Square, you can choose when to receive your funds. We offer a two options — our standard transfer schedule or a custom transfer schedule (tailored by you to your business hours),
Square doesn’t have transfer limits with our standard or custom schedules. We won’t hold funds based on the amount, frequency, or type of transaction.
There are multiple ways to transfer funds:
Standard transfer: Transfer funds according to our standard schedule. All Square merchants start with our standard transfer schedule .With this schedule, funds are usually transferred within 36 hours or 1–2 business days of a transaction.
Instant transfers: Instantly send funds to your linked bank account using your debit card 24 hours a day, 7 days a week, for a 1.5% fee per transfer.
Manual transfer: Choose when to transfer your funds manually. Funds arrive in your bank account the next business day.
Before you begin
Before you receive your first transfer from Square, you need to add a verified bank account to your Square account. Learn how to link and edit your bank account.
If you’re using instant transfers, make sure you update your linked bank account in your transfer settings to prevent funds from being sent to a previous account. You can start the verification process from your Square Dashboard or Square Point of Sale app.
Review transfer options
Square offers multiple ways to transfer your money.
Payments taken before 5 PM PT/8 PM ET will be available in your bank account the next business day. Payments accepted on Friday before 5 PM PT will post to your bank account by Monday morning (depending on your bank’s processing speeds).
Payments taken after 5 PM PT/8 PM ET will be available in your bank account by the second business day. Next business day transfers are not sent on Saturdays.
Your minimum balance must be $25 for instant transfers and $1 for same-day transfer after Square’s processing and transfer fees. Instant transfers cost a 1.5% fee per transfer, in addition to Square standard card processing fees. Any balance not transferred instantly will be sent according to your normal transfer schedule.
New Square sellers start with a limit of one instant transfer per day of up to $500. As you run and grow your business with Square, a higher daily transfer amount may become available up to $5000.
Instant transfer may not be available for sellers using Square APIs until they have sufficient account history.
Instead of automatic transfers, you can enable manual transfers 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.
Select a transfer schedule
You need to link a bank account before using instant transfers or adjusting your transfer schedule.
- Sign in to your Square Dashboard and select Settings > Account and settings > Money > Transfer.
- Under Transfer schedule, click Automatic to select your preferred transfer speed on a per-day basis.
- Select Save.
Initiate an instant transfer
Square transfers your eligible balance into the bank account associated with your linked debit card after you’ve manually triggered an instant transfer. You’ll receive a confirmation email when the instant transfer is successful. If initiating from the Square app, you’ll also see a transfer confirmation.
There are two ways to initiate an instant transfer from your Square Dashboard.
From your Square balance.
- Sign in to your Square Dashboard, go to Money > Balance.
- Select Transfer Now.
From your settings.
- From your Square Dashboard, select Settings > Account & Settings > Money > Transfers.
- Select Transfer now.