Block, Inc. is a financial services company, not a bank. Banking services are provided by Square’s banking affiliate, Square Financial Services, Inc. or Sutton Bank; Members FDIC.
Sell, save, spend, and borrow as fast as you need to
When you take payments and bank through Square, everything is connected. Watch your sales flow directly into Square Banking, so accessing and moving your money is fast, easy — and can even be automated.
$0 overdraft fees
$0 opening deposit
$0 minimum balance
$0 monthly account fees
Checking
Spend and access money instantly from your Square sales with your Square Checking and Debit Card.
No monthly fees, credit checks, or long applications.
Send money in and out of your account using your account and routing numbers.
Savings
Automatically set aside a portion of every Square sale. Use folders to organize money for taxes, rainy days, and more.
Earn 1.75%1 APY*
No monthly fees and no minimum to open an account.
Free, instant transfers to and from Square Checking.
Loans
Become eligible for a loan between $300–$250K automatically by processing payments on Square.
Automatically pay off loans with a percentage of Square sales.
Get your funds as quickly as the next business day, or instantly in your Square Checking balance.
No ongoing interest—just one flat fee.
Loans are subject to eligibility and approval.
Good news: Square Checking is FDIC-insured up to $250K and Square Savings is FDIC-insured up to $2.5M
Small business owners look to Square to expand and improve on the long-standing and often-unfair conventions surrounding financial services—like unnecessary, outdated fees and applications. We can do it better.
Our sellers are trailblazers. And they deserve business banking that can keep up.
Square Banking.
Serving the self-made.
32%
of Square Loans customers identify as people of color
Industry average is 27%
2021 internal Square analysis
1 in 4
business owners were rejected by big banks or deterred by the application process
2020 Square Card Survey results
51%
of Square Loans customers are women-owned businesses
Industry average is 17%
SBA 7(a) Lending Statistics for Major Programs as of 2019
2021 internal Square analysis
32%
found typical business accounts to be too expensive
2020 Square Card Survey results
What Square sellers are saying
What Square sellers are saying
Square Banking by the numbers
$0
monthly fee
$0
overdraft fee
$0
opening deposit
$0
credit checks
$0
minimum balance
$0
monthly fee
$0
overdraft fee
1.75%
APY
$0
credit checks
$0
minimum balance required to open an account
Learn all about the ins and outs of business banking
At the end of the day, I have to sell enough biscuits to buy more flour.
Didn’t find what you were looking for? Visit our Support Center or learn more about Square Banking