Home>Bank Accounts & Transfers

Transfer Options FAQs

What are the faster transfer options with Square?

To get your money faster than one to two working days, use instant transfers to send your eligible balance on-demand, 24 hours a day, seven days a week.

Are there any transfer limits?

Instant transfers require a minimum balance of £15 after Square’s processing and transfer fees, and a maximum transfer size of £3,500.

Funds that are not eligible for instant transfers will be sent to the bank account linked to your Square account in one to two working days.

Note: New sellers start with a limit of up to £750 per day. As you run and grow your business with Square, a higher daily transfer amount may become available.

Why are instant transfers unavailable?

Instant transfers may be unavailable due to one of the following reasons:

  • You haven’t linked a bank account to Square, or your bank account hasn’t been completely verified. Link a bank account or check your verification status from your online Square Dashboard.
  • Your current balance, after Square’s processing and transfer fees, is below the minimum amount of £15.
  • You have at least one single transaction greater than £3,500. Square can’t send transactions greater than £3,500 via instant transfers.
  • Your transfer may have been impacted as a result of a regular account review. We periodically review accounts to ensure customer security. Instant transfers will become available when this review is complete.

If my instant transfers were sent on a weekend, evening or after my close of day, when will they arrive?

With instant transfers, funds are sent instantly, even on nights and weekends, regardless of your regular transfer schedule. Funds will arrive in your bank account within 20 minutes.

Note: Any money not sent instantly will be sent to your bank account in one to two working days.

What should I do if my transfer fails to send?

Try sending your transfer again at the end of the day or wait for your funds to be sent via Square’s standard next-day-transfer schedule.

When will my transfer arrive in my bank account?

Funds will typically arrive in your bank account within 20 minutes of initiating the instant transfer.

Can I transfer funds from multiple payments in a single instant transfer?

Yes. You can transfer a balance of up to £3,500 from multiple payments with instant transfer.

Where can I see a summary of my instant or same-day transfers?

Your complete transfer history, along with any instant or same-day transfer fees, is available to view and download from Balance > Balance Reports in your online Square Dashboard. Read more about viewing your transfer history.

You can also view instant and same-day transfers from the Square Point of Sale app by navigating to Balance > Transfer Reports.

If I qualify for free processing, will transfer fees be covered by that programme?

No. The Square Referral programme only covers card processing fees and not the 1% fee for instant transfer.

Can I send my transfers to multiple bank accounts?

Not at this time. However, you can link multiple external bank accounts to your business locations, so you can switch between different bank accounts when sending your transfers. This also helps avoid sending your transfers to a closed bank account.

You can link multiple external bank accounts to your Square account from the Bank Accounts tab in your online Square Dashboard. Click Add external bank account to enter your bank account details and complete the bank verification process.

Note: Only verified bank accounts are able to receive transfers. Ensure that you are linking verified bank accounts to your locations before initiating your transfers.

Can't find what you need?