Home>Manage Transfer Settings

Set Up and Manage Instant Transfers

For faster access to your money, initiate instant transfers from the Square Point of Sale app or from your online Square Dashboard. You can instantly send up to $10,000 per transfer 24 hours a day, 7 days a week. There is no limit to the number of instant transfers you can initiate on a given day.

Important to note

  • Your minimum balance must be $25 for instant transfers and $1 for same-day transfer after Square’s processing and transfer fees.

  • New Square sellers start with a limit of one instant transfer per day of up to $2,000. As you run and grow your business with Square, a higher daily transfer amount may become available.

  • Instant transfer may not be available for sellers using Square APIs until they have sufficient account history.

  • In order to perform certain high-risk actions within your online Square Dashboard, you’ll need to complete two-step verification on your Square account. This process adds an additional layer of security to your Square account and helps protect your transfers from unauthorized activity. 

Instant Transfers Pricing

Instant transfers cost a 1.75% fee per transfer, in addition to Square standard card processing fees. Any balance not transferred instantly will be sent according to your normal transfer schedule.

Note: Instant transfers cost is not reimbursed when you earn free processing.

Set Up Instant Transfers

Once you’ve linked a bank account from the Square app or Dashboard, learn about sending instant transfers.

If your bank account is not supported for instant transfers, you can add a debit card. View a list of supported bank accounts.

From the Square App

  1. From the navigation menu, tap ≡ More.

  2. Tap Settings > Account > Transfers.

  3. Key in the required debit card information.

  4. Tap Link account.

  5. Verify your bank account via the email sent to the address associated with your Square account.

From your Square Dashboard

  1. Go to Balance on your online Square Dashboard.

  2. If you have an eligible pending transfer, click Transfer Now and enter and save your debit card information.

  3. Click the reporting location, then click the cog icon.

  4. Go to Transfer settings.

  5. Under Instant Transfers, click Link an account.

  6. Enter and save your account information.

Square will send an email to the address associated with your Square account. If linking a debit card, click the verification link in this email to confirm within 24 hours of receiving it. If you can’t find the email, check your spam/junk folder or resend the email from Transfer settings > Transfers.

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

Edit Your Linked Bank Account

From the Square app

  1. From the navigation menu, tap ≡ More.

  2. Tap Settings > Account.

  3. Tap Transfers > Change Account (in Instant transfer section).

  4. Key in your bank information.

  5. Tap Link.

  6. Verify your bank via the email sent to the address associated with your Square account.

From the Square Dashboard

  1. Go to Balance then click the reporting location.

  2. Click the cog then click Transfer settings.

  3. Click Change Account.

  4. Enter and save your bank information.

  5. Verify your bank via the email sent to the address associated with your Square account.

Send Instant Transfers

Before using instant transfers, make sure you’ve confirmed your bank account is linked and verified from Transfer settings in your online Square Dashboard. Instant transfer fees display under Instant Transfer in your online transfer summaries.

If your Square balance is below $25 (after fees), instant transfers will not be available. You’re able to instantly transfer payments in an amount of up to $10,000 at one time.

If you run into any trouble with instant transfers, try these troubleshooting steps.

From the Square app

  1. Tap Transactions > Instantly Transfer.

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

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

  1. Open the app and tap More from the navigation bar at the bottom of your screen.

  2. Tap Balance.

  3. Tap Instantly Transfer.

From your Square Dashboard

There are three ways to initiate an instant transfer from your Dashboard:

  • From your Home page, click Transfer Now > Transfer Now.

  • From Balance, click Transfer Now.

  • From Transfer Settings > Transfers, click Transfer Now, located under instant transfer.

Note: You can schedule instant transfers ahead of time, so that you receive your funds every day at your Close of Day using same-day transfer.

Instant Transfer Reports

See your entire transfer history, including instant transfers, by visiting Balance > Transfer Reports in your online Square Dashboard. Click each transfer to see its details. If you have a Square Card, visit Balance > Activity.

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

  1. From the navigation menu, tap ≡ More.

  2. Tap Balance.

  3. Tap View all activity.