Bank Account FAQ
Accepting payments is the core of running your business with Square, so it’s imperative to Square that you have control over your funds. Review the information below if you’re having trouble linking or editing your bank account.
View your linked bank account for each of your locations from your
online Square Dashboard. We’ll also send you an email confirming any transfers with the last three digits of the account we transferred to. From this page, you can also add and verify other external bank accounts to your Square account to easily change where you receive your transfers across your business locations.
Editing your bank account is easy from your online Square Dashboard and the Square app. Learn more about updating your linked bank account.
Yes — you’ll be able to accept payments through your Square account while you’re waiting for your bank account to verify. Any payments you accept during this time will remain in your Square balance until your bank account is linked. Once the verification process is complete, Square will send all funds in your Square balance to your linked bank account within 1-2 business days.
We’ll continue to send transfers to your currently linked account until your new bank account is verified. If you’d like to unlink your current bank account, contact Square Support. This will allow your transfers to remain in your Square balance until your new account is verified. You can also add and verify other external bank accounts to your Square account from the
Bank Accounts tab to easily update where you receive your transfers between your locations in the future.
No, Square requires a transactional bank account that allows for transfers and withdrawals in case of refunds or chargebacks. Prepaid cards or online-only accounts, like PayPal, aren’t supported.
You can choose to link a transactional bank account to your Square account during account creation or at a later time from your online Square Dashboard and the Square app. Once you provide Square with your bank information, we’ll verify that we can communicate with the account by sending and then debiting a small amount to and from your account (resulting in no difference to your balance). Be sure you have at least $1.00 in your bank account before attempting to link it to Square to ensure verification goes smoothly.
Learn more about linking your bank account.
The bank account linking and verification process can take up to 5 business days — Square cannot expedite this timeframe. After your account is fully verified, we’ll send transfers according to your transfer schedule.
Learn how to check your bank verification status.
With the free automatic transfers option, your funds will automatically send each evening—including Friday through Sunday—and will arrive in your linked bank account the next day.
Learn about your transfer schedule options.
If your bank account is linked and completely verified, you should see transfers in your bank account within 1-2 business days depending on your close of day schedule. Check your online Square Dashboard or the Balance section of the Square app to see if we’ve sent your transfer or read more about missing transfers.
Bank verification can fail for a number of reasons: if your bank account is non-transactional and we can’t transfer and debit from it, if you have insufficient funds in your bank account when we try to verify the account, or if there was a typo entered when you input your bank information. If your bank failed due to any of the reasons above, learn how to fix a failed bank verification.
To link a different bank account to each business location, you’ll need to visit Bank Accounts in your online Square Dashboard. From the drop-down menu next to the location you want to adjust, select Add external bank account and complete the bank verification process.
If you cannot link or edit your bank account after completing the troubleshooting steps above, please contact Square Support.