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||0%||1%–1.5%|
|Monthly service or maintenance fees||$0||$10–$16 per month|
|Minimum opening deposit||$0||$25–$1,500|
|Overdraft fees||$0||$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
Use account and routing numbers to pay bills and add funds
Free, instant transfers to and from Square Savings
Instantly add funds to Square Checking from an external account free
Send to an external account in 1–3 business days free, or instantly for a fee
Making the most of your money for small business owners
Get the checking account made for Square business owners
Square, Inc. is a financial services company; not a bank. 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 International Incorporated, and may be used wherever Mastercard is accepted.
Instant availability of Square sales. 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.
FDIC insurance: Square Checking account funds are FDIC-insured up to the allowable limits through Sutton Bank, Member FDIC and its program banks (typically up to $250,000). Coverage limit is subject to aggregation of all of the account holder’s funds held at Sutton Bank or its program banks.
Overdraft: Square Checking currently does not support overdrafting. Any transactions or transfers exceeding the available balance will be declined.
ACH transfer fund availability: Instant availability does not apply to funds added to the Square checking account via ACH transfer. ACH credit transfers to your account may take 1–2 business days.
*Savings accounts are provided by Square Financial Services, Inc. Member FDIC. Annual percentage yield (APY) of 0.50% or more will apply until 12/31/2021, after which the APY in-effect at that time will apply and will be subject to change. No minimum deposit is required to open an account, and no minimum balance is required to obtain any advertised APY. Accounts will not be charged monthly fees. Accounts are FDIC-insured up to $250,000.