Home>Square Basics

Set Up and Manage Instant Transfers

For faster access to your money, initiate an instant transfer from the Square app. You can instantly send up to £2500 per deposit 24 hours a day, 7 days a week. There is no limit to the number of instant deposits you can set up in a given day. Funds will arrive in your bank account within 20 minutes.

Note: Your minimum balance must be £50, after processing and transfer fees, in order to use instant transfers. The maximum amount you can deposit instantly per day is £2,500.

Note: New sellers may be restricted from using instant transfers until they have sufficient account history. As you run and grow your business with Square, Instant Deposit will become available.

Instant Transfers Pricing

Each instant transfers costs 1% of the deposit amount in addition to Square’s standard card processing fees. Any balance not transferred instantly will be sent according to your next working day deposit schedule.

Note: The instant transfer cost is not reimbursed when you earn Free Processing.

Set Up Instant Transfers

Once you’ve activated instant transfers from the app, learn about sending instant transfers.

From the Square App

  1. Open the app and tap: Three Horizontal Lines
  2. Tap Settings > Balance.
  3. Toggle Allow Instant Transfer on.

Note: Before you set up instant transfers, you need to have a bank account linked to your Square Account.

Send an Instant Transfer

Before using instant transfers, make sure your bank account is linked and verified. View instant transfers fees in the Balance tab of your online transfer summaries.

Instantly initiate transfers in amounts of up to £2,500 at one time. Your minimum balance must be £2,500, after processing and transfer fees, in order to use instant transfers. Funds will arrive in your bank account within 20 minutes.

From the Square App

  1. Tap: Three Horizontal Lines
  2. Tap Transactions > Instantly Transfer.

You can also send and track your instant transfers from your Balance tab:

  1. Tap: Three Horizontal Lines
  2. Tap Balance.
  3. Tap Instantly Transfer.

You’ll see an in-app transfer confirmation and receive a confirmation email.

From your Reports Tab

You can also send and track your instant transfers from your Reports tab:

  1. Tap: Three Horizontal Lines
  2. Tap Reports > Transfer.
  3. Tap Instantly Transfer.

From your Dashboard

  1. From your Home page, click Instantly transfer now

Note: Before you are able to set up instant transfers, you will need to have a bank account linked to your Square Account.

Instant Transfers Reports

See your entire transfer history, including instant transfers, in your online Square Dashboard by logging in to Balance. Click each transfer to see its details.

To review your transfer report in the Square Point of Sale app:

  1. Tap: Three Horizontal Lines
  2. Tap Reports > Balance.

Read instant transfers FAQ.