Link your bank account from your Dashboard or the Square app to have your money deposited within 1-2 business days.
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 one.
You can link your bank account from your Dashboard or the Square app to start receiving your funds on any one of our Deposit schedules. If you already have an account linked, you can change it at any time so you can receive your funds where you need them.
There are a few things to note before you get started:
- You will need to link a United States bank account to process payments using a U.S. Square Account.
- Square requires a transactional bank account (an account that allows for both deposits and withdrawals) to support refunds or chargebacks. Which means Prepaid cards or online-only accounts (such as PayPal) aren’t supported at this time.
- You will need your full routing and bank account number to link your bank account.
If you have multiple location business, each location can share a single bank account or you can link a unique bank account to each one.
Add and Edit Your Bank Account
Before you receive your first deposit from Square, you will need to add a verified bank account to your Square account. You can start the verification process right from your Square Dashboard or Square App.
Add and Edit Your Bank Account Online
- Sign in to Account & Settings > Bank Accounts. If you are changing your bank account, select Change Bank Account.
- Enter the following information: the account holder’s name, the routing number, and account number. You can find this information listed at the bottom of your checks, or you can contact your bank to confirm this information.
3. Click Verify. Note: 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.
Add Your Bank Account from the Square App
- Tap Settings > Link Bank Account. Enter the following information: the account holder’s name, the routing number, and account number (usually listed at the bottom of your checks).
- Click Continue.
Edit Your Bank Account from the Square App
- Tap Help > Change bank account.
- You’ll be directed to your online Square Dashboard > sign in to continue.
- Select the business location you’d like to update > tap the three horizontal lines.
- Tap Account & Settings > Business > Bank Accounts.
- Enter your new bank account information > tap Verify Account.
- Enter your Square account password.
- Check your email for a confirmation from Square. Click the link within 24 hours to confirm the bank account change.
I Can’t Link My Bank Account
If you see an alert in your online Dashboard that means that your bank account information was not accepted. There are a few scenarios that can cause this:
Bank Account Type is not supported
Square doesn’t support non-transactional bank accounts – they don’t allow money to be debited. Square must be able to credit and debit money from your account, in the event of a chargeback or refund. Keep in mind that Prepaid cards are not supported.
Typo in Bank Account number
Typos in your routing or account number can cause bank verification to fail. Double check your account information and carefully re-enter it. You may need to contact your bank to confirm your routing and account numbers.
#### Incorrect Account number
Credit Unions often use an electronic account number for deposits from Square (ACH transactions), which can be different than the account number on your checks. Confirm that you’re using the correct account number to link your bank account to Square.
To verify your bank account, Square will deposit and withdraw a small amount. Sometimes this deposit and withdrawal may process simultaneously, so you’ll need at least $1.00 in your bank account before you begin the verification process. If your verification has failed due to insufficient funds, make sure you have at least $1.00 in your account and re-enter your account information.
Bank Verification Canceled
If you click Cancel Verification after entering your bank account information, the verification process will be canceled. To restart the verification process, you’ll need to re-enter your bank account information.
#### ACH Number/Origin ID
Some banks may request Square’s ACH number or origin IDs to link your bank account to Square. If your bank asks for this information, provide them with the following:
Bank Verification Status
Once you’ve entered your bank information successfully, we will start the bank verification process. Square will send and debit a small amount to and from your account (resulting in no difference to your balance). This is not a charge, but simply Square sending a verification deposit to confirm we can both send and retrieve money in case of refunds.
How long will it take to verify my bank account?
The entire verification process can take up to 5 business 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 Account. You’ll also receive an email from Square when your account is verified.
With no additional action needed on your part, your deposits will be sent to your bank account following your deposit schedule.
#### What is Pending Verification?
If your bank verification is pending, wait the full 5 business days. You’ll receive an email when your account has successfully been verified. While you’re waiting for your verification to complete, you can continue to take payments. Your money will remain in your Square balance and will be sent once your account is verified.
Multiple Bank Accounts
Only one bank account can be linked to a single Square account location. If you’d like to have funds sent to multiple bank accounts, set up multiple locations, each with its own assigned bank account.