Access your sales instantly
As soon as a Square sale comes in, the money is available in your FDIC-insured business checking account — no waiting.
Free of the usual account fees
|Square Checking||Other banks|
|Square sales instantly funded||Yes; free||Not offered|
|Monthly service or maintenance fees||$0||$10–$16 per month
(or min. deposit required)
|Minimum opening deposit||$0||$1–$1,500|
|Overdraft fees||N/A||$35 per item|
|Minimum balance requirement||$0||$500–$5,000|
|Foreign transaction fees||0%||1%–3%|
|ATM fees||$0 charged by Square;
ATM operator fees apply
|$3–$5, plus ATM operator fees|
Give your business finances a place of their own
With a dedicated business account, keep tabs on your money, simplify taxes, and more in one place — your Square Dashboard and Point of Sale.
Many ways to manage your money
New Get paid up to 2 days faster with early deposit access*
Instantly deposit Square Loans into your Square Checking balance
Add funds to your Square Checking balance with mobile check deposit for free
Send to an external account in 1–3 business days free, or instantly for a fee
Use account and routing numbers to pay bills and add funds
Deposits are FDIC insured up to $250k†
Making the most of your money for small business owners
Get the checking account made for Square business owners
Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Block, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Block, Inc.
All loans and savings accounts are issued by Square Financial Services, Inc., a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.
*With early deposit access, Block, Inc. may make incoming electronic direct deposits made through ACH available for up to two days before the scheduled payment date. Not all direct deposits are eligible. Early availability of direct deposits is not guaranteed and may vary from deposit to deposit. Early deposit access is automatic and there is no fee.
†Block, Inc. is not a bank. Checking accounts are provided by Sutton Bank, Member FDIC. Square Checking is provided by Sutton Bank, Member FDIC. Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard. Square Debit Card may be used wherever Mastercard is accepted. Accounts are FDIC-insured up to $250,000. Funds generated through Square’s payment processing services are generally available in the Square checking account balance immediately after a payment is processed. Fund availability times may vary due to technical issues.
‡Savings accounts are provided by Square Financial Services, Inc. Member FDIC. Annual percentage yield (APY) of 1.75% as of Oct. 10, 2022. APY subject to change. No minimum balance, no cost.
Instant transfer requires a linked bank account or supported debit card and costs a fee per transfer. Funds are subject to your bank’s availability schedule. Minimum amount is $25 and maximum is $10,000 in a single transfer. New Square sellers may be limited to $2,000 per day. Funds generated through Square’s payment processing services are generally available in the Square balance or Square Checking account immediately after a payment is processed. Fund availability times may vary due to technical issues.