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Set Up and Manage Same-Day Transfer

Fast transfers are a standard with Square, with money in your bank account in one to two business days. With same-day transfer, you can get your money even faster on a recurrent basis. Customize your transfer and automatically send funds to your linked bank account at the end of your business day (any day of the week) for a fee per transfer.

Same-Day Transfer: The Facts

  • Timing: Your funds will be sent directly to your bank account at 5:15 p.m. PT/8:15 p.m. ET or 15 minutes after your close of day time. You’ll receive an email notification once your funds have been sent to your bank account. Funds that are not eligible for same-day transfer will be sent to your linked bank account in one to two business days.

  • Fees: Same-day transfer costs a fee per transfer, in addition to Square’s processing fees.

  • Flexibility: You can set same-day transfer as your default transfer option for any day of the week – even weekends.

  • Limits: To use same-day transfer, you must have a minimum balance of $1 after Square’s fees. You can send payments as large as $10,000. If your daily balance exceeds $10,000, you’ll receive multiple transfers from Square. There is one exception: Individual payments greater than $10,000 won’t be sent via same-day transfer or instant transfesr. When this occurs, these payments will be sent via next-business-day transfer and will be available within one to two business days to your linked bank account.

Set Up Same-Day Transfer

From your online Square Dashboard

  1. Sign in to Balance > Settings in your online Square Dashboard.
  2. Under Transfer Speed, select Same-Day to enable same-day transfers for every day of the week, or Custom to select your preferred transfer speed on a per-day basis.
  3. If using Custom, select a business day to adjust its transfer type.
  4. Click Save.
  5. Enter your debit card information > Save.
  6. Verify your debit card via the email sent to the address associated with your account.

From your Square app

  1. Visit Settings > Balance.
  2. Under Transfer Speed, select Same-Day to enable same-day transfers for every day of the week, or Custom to select your preferred transfer speed on a per-day basis.
  3. If using Custom, select a business day to adjust its transfer type.
Learn more about: Payment Processing

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