Link and Edit Your Bank Account
Link your bank account from your online Square Dashboard to have your funds sent as soon as the next working day.
If you have a multiple-location business, each location can share a single bank account or you can link a unique bank account to each location. You can also link multiple bank accounts to your Square account to disburse your payments balance and more easily switch bank accounts between your locations. Keep in mind that you can only link one bank account per location at this time.
Add Your Bank Account
Square requires a transactional bank account (an account that allows for both transfers and withdrawals) to support refunds and chargebacks. Your bank account must be euro denominated with an IBAN from a SEPA-participating country. Prepaid cards or online-only accounts (such as PayPal) aren’t supported.
You’ll be able to accept payments through your Square account while you’re waiting for your bank account to verify. Any payments you accept during this time will remain in your Square balance until your bank account is linked. Once the verification process is complete, Square will send all funds in your Square balance to your bank account within 36 hours.
You’ll need to have your IBAN handy to get started.
Add Your Bank Account Online
Sign in to Account & Settings > Bank Accounts > Add External Bank Account.
Enter the following information: the account holder’s name and IBAN. You can contact your bank to confirm this information.
Verify the details, and click Verify to authorise the verification of your bank account.
Once you have verified multiple external bank accounts to your Square account, you can change the linked bank account for each of your locations. To do so:
From Account & Settings in your online Square Dashboard, click Bank Accounts.
Under All locations, click the linked bank account next to the location in question.
From the drop-down menu, select the verified bank account you want to add to that location. If you do not see the bank account you want to link, select Add external bank account and complete the bank verification process.
Click Update linked account > Done.
Note: You can only have one linked bank account per location at this time. If you are changing your bank account, you will need to enter your Square account password and check your email for a confirmation from Square. Click the link within 24 hours to confirm the bank account change. If you don’t click the link in the email to verify you intended to add or change your bank account, the update won’t save and you’ll need to enter your information again.
How long will it take to verify my bank account?
Once you’ve entered your bank information, Square will verify that your have a transactional bank account. The entire verification process can take up to 4 working days (excluding weekends and holidays). Square isn’t able to expedite the process.
How do I check the status of my bank verification?
To check your status, visit Account & Settings in your online Square Dashboard and click Bank Accounts. You’ll also receive an email from Square when your account is verified.
Once your bank account is verified your funds will be sent to your bank account following Square’s transfer schedule.
What do I do if my bank verification is pending?
If your bank verification is pending, wait the full 4 working days, no action is required from your side. You’ll receive an email when your account has successfully been verified.
Any payments you accept during this time will remain in your Square balance until your bank account is linked. Once the verification process is complete, Square will send all funds in your Square balance to your bank account within 36 hours.
Edit Your Bank Account
You can edit your linked bank account from your online Square Dashboard. Before you begin, make sure you have the IBAN for your new bank account.
Note: To stop transfers to your current bank account while you update to a new account, contact us for help.
Edit Your Bank Account Online
Sign in to Account & Settings > Bank Accounts.
Click Change Bank Account.
Enter your new bank account information and click Verify Account.
Enter your Square account password.
Check your email – you will receive an email from Square asking you to confirm your bank account change. Click the link in the email within 24 hours to confirm the bank account change. If you do not confirm your bank account change within 24 hours, you will need to re-add your new bank information from the online Square Dashboard to restart the verification process.
Confirm Your Bank Account Change
When you change your bank account, Square will send a confirmation email to the address associated with your Square account. To start the verification process, click on the link in the email within 24 hours. If you don’t see this email, check your spam folder or email filters.
If you don’t click on the link within 24 hours, your bank verification will expire and you’ll need to re-enter your information.
Learn what to do if you are having trouble linking your bank account.