Transfer Options with Square
Once you have accepted payments with the Square Point of Sale app, you can choose to receive your funds through one of our two transfer options. There are no transfer limits with our default, next day transfer schedule. We won’t hold funds based on the amount, frequency or type of transaction.
|Fast Transfers||Faster Transfers|
|Next working day transfer||Instant transfer|
|Speed of Transfers||Next business day at 4pm||Initiated instantly – arrives in 20 minutes or less|
|Transfers on weekends and holidays||❌ No||✅ Yes|
|Set it and forget it||✅ Default option||❌ Manual action required|
|Price||Free||1% of transfer amount|
The quickest way to get your money is to take advantage of Square’s instant transfers.
Sometimes you need your money immediately – that’s when instant transfer can help. If it’s available on your account, you can instantly send funds to your linked bank account 24 hours a day, 7 days week, for a fee of 1% of the transfer total. Using instant transfer, you can instantly send up to £2500 per 24 hour period to your bank account. The funds will arrive in your bank account within 20 minutes.
Before you get started, make sure you have at least £50, after processing fees, in your Square balance.
Learn more about sending an instant transfer.
Note: New sellers may be restricted from using instant transfer until they have sufficient account history. As you run and grow your business with Square, instant transfer will become available.
Next Working Day
Transfers are initiated at approximately 16:00, Monday through Friday.
For sales that are processed before midnight, transfers are initiated the following working day.
For sales that are made after midnight, transfers are initiated in two working days.
Transfers are not initiated on Saturdays or Sundays.
Bank holidays may affect transfer timelines.
Transfer cutoff and initiation times will adjust accordingly with British Summer Time.
You’ll receive an email notification when your transfer is initiated by Square. While some banks post transfers immediately, others may take longer. You can visit Balance in your online Square Dashboard to confirm when Square initiated a transfer to your linked bank account.
The table below details standard transfer times.
Next Working Day Transfer Schedule
|Transaction Date||Transfer Initiated*|
|Monday||Tuesday at 16:00|
|Tuesday||Wednesday at 16:00|
|Wednesday||Thursday at 16:00|
|Thursday||Friday at 16:00|
|Friday to Sunday||Monday at 16:00|
Note:Transfer times are approximate.
You can also customise your close of day schedule.
Note: For Square’s standard Next Working Day transfers, transfers to your bank account are capped at £250,000 per day. If you accept over £250,000 in card payments in a single day, your next transfer will be for £250,000, with the remaining balance of payments delivered in a second transfer on the next working day.
By default, your funds will be transferred to your bank account every night, from Sunday to Thursday.
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.
You are able to pause automatic nightly transfers and change to manual transfers, directly from your online Square Dashboard or from the Square app.
Navigate to Settings in your online Square Dashboard or Square Point of Sale app.
Under Transfer Schedule > select Manual.