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Transfer Options FAQ

What are the transfer options with Square?

To transfer your money faster than one to two business days, you have several options: instant transfers and same-day transfers. Instant transfers are available to send your eligible balance on-demand, 24 hours a day, 7 days a week. Same-day transfers are available to automatically send your eligible funds to your linked bank account at your close of day. You can set same-day transfer as your preferred transfer option for any day of the week, and still trigger an instant transfer anytime you need funds on-demand.

Are there any transfer limits?

Instant transfers have a minimum balance of $25 after Square’s fees, and a maximum transfer size of $10,000.

Same-day transfer has a minimum balance of $1 after Square’s fees, and a maximum individual transaction size limit of $10,000. If your balance exceeds $10,000 but does not include individual transactions greater than $10,000, you’ll receive multiple transfers from Square.

Funds that are not eligible for instant transfers or same-day transfer will be sent to the bank account linked to your Square account in one to two business days.

Note: Some new sellers start with a limit of one instant transfers per day of up to $2000 or one same-day transfer of up to $10,000. As you run and grow your business with Square, a higher daily transfer amount may become available.

What banks are supported with instant transfers?

We currently support most U.S. banks. Credit cards, ATM, PayPal, or prepaid bank cards aren’t supported at this time. You’ll need to link a supported bank account to your Square account to use instant transfers.

Note: Since each bank has different requirements, we can’t confirm if your bank can support instant transfers until you’ve attempted to link it to Square.

However, we’ve had strong link success with the following banks to date:

  • Bank of America
  • Citizens Bank
  • JP Morgan Chase
  • Huntington National
  • PNC Bank
  • Regions
  • SunTrust
  • TD Bank

Why is my bank unsupported for instant transfers?

If you’re having trouble linking your bank account, you have the option of linking a debit card instead.

Why are instant transfers or same-day transfers unavailable?

This is due to one of the following reasons:

  • You haven’t linked a bank account to Square, or your bank account hasn’t completely verified. You can link a bank account or check your verification status from your online dashboard.
  • Your current balance is below the minimum amount (after fees): $25 for instant transfers and $1 for same-day transfer.
  • You have at least one single transaction greater than $10,000. Square cannot send transactions greater than $10,000 via instant transfers or same-day transfer.
  • You’re new to Square and you’ve already sent one instant transfer of up to $2000 today.
  • Your transfer may have been impacted as a result of a regular account review. We periodically review accounts to ensure customer security. Instant transfer will become available when this review has been completed.

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

Instant transfers send your funds instantly, even on nights and weekends, regardless of your regular transfer schedule.

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

Where can I locate transfer details?

From the online Square Dashboard, visit Balance > Transfer Reports. Select any transfer from the list and select View details to view further details, including the transfer mechanism, and related trace details.

If you have a Square Card, or stored balance, navigate to Balance > Activity > Transfers on your online Square Dashboard. Select any transfer from the list and select View details to view further details.

Read more about locating transfer details.

What should I do if my transfer fails to send?

For instant transfers, try sending your transfer again at the end of the day or wait for your funds to be sent via Square’s next-business-day schedule. For same-day transfers, funds that are not sent automatically will be sent to your linked bank account in one to two business days.

Can I transfer funds from multiple payments in a single instant transfer? What about a same-day transfer?

Yes. You can transfer a balance of up to $10,000 from multiple payments with instant transfers.

With same-day transfers, you can transfer your entire day’s balance as long as no individual transaction is greater than $10,000. If your balance is greater than $10,000, your same day transfers will be simultaneously sent in more than one batch.

Can I receive transfers into my Cash App?

Yes, you are able to receive transfers into your Cash App account from your Square POS account using your Cash App account and routing number.

Note: This is available for standard transfers (not instant transfers).

Can I set up automatic, instant transfers?

Yes. With same-day transfer, you can schedule your funds to directly transfer to your linked bank account at your close of day on any day you choose. You can set up same-day transfers from your Dashboard.

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 > Transfer Reports in your online Square Dashboard. Read more about viewing your transfer history.

You can also view instant and same-day transfer 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 program?

No. The Square Referral program only covers card processing fees and not the fee for instant transfer or same-day 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 I transfer funds between my Square Balances?

Yes. You can transfer funds from a Square Checking or Savings folder to another Square Checking or Savings folder instantly and for free, all from your online Square Dashboard.