Set Up and Manage Same-Day Deposit

Fast deposits are a standard with Square, with money in your bank account in one to two business days. With Same-Day Deposit, you can get your money even faster on a recurrent basis. Customize your deposits and automatically send funds to your linked bank account at the end of your business day (any day of the week) for just 1% of the deposit amount.

Same-Day Deposit: 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 Deposit will be sent to your linked bank account in one to two business days.

  • Fees: Same-Day Deposit costs 1% of the deposit amount in addition to Square’s processing fees.

  • Flexibility: You can set Same-Day Deposit as your default deposit option for any day of the week – even weekends.

  • Limits: To use Same-Day Deposit, 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 deposits from Square. There is one exception: Individual payments greater than $10,000 won’t be sent via Same-Day Deposit or Instant Deposit. When this occurs, these payments will be sent via Next Business Day deposit and will be available within one to two business days to your linked bank account.

Note: New sellers will be limited to one Same-Day Deposit up to $10,000 per day.

Set Up Same-Day Deposit

From your online Square Dashboard

  1. Sign in to Account & Settings in your online Square Dashboard > click Deposits.
  2. Under Deposit Speed, select Same-Day to enable same-day deposits for every day of the week, or Custom to select your preferred deposit speed on a per-day basis.
  3. If using Custom, select a business day to adjust its deposit 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 > Deposits.
  2. Under Deposit Speed, select Same-Day to enable same-day deposits for every day of the week, or Custom to select your preferred deposit speed on a per-day basis.
  3. If using Custom, select a business day to adjust its deposit type.

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