Transfer Options with Square

With Square, you can choose when to receive your funds. We offer a couple of options – our standard transfer schedule, a custom transfer schedule (tailored by you to your business hours).

Square doesn’t have transfer limits with our standard or custom schedules. We won’t hold funds based on the amount, frequency or type of transaction.

If you’re having trouble locating a transfer, review these transfer schedule tips.

Standard transfer schedule overview

When you activate your Square Point of Sale account, link a bank account and begin accepting card payments, we’ll transfer funds according to our standard schedule. All Square merchants start with our standard transfer schedule.

With this schedule, funds are usually transferred within 36 hours or 1–2 business days of a transaction. Learn more about our standard transfer schedule and review daily transfer times.

Custom Close of Day Time Overview

If your business has unique hours, you can customize the time you’d like transactions grouped for daily transfer. This is called your close of day time.

Setting a close of day time ensures you’ll receive a single transfer for a full day’s payment activity – making bookkeeping a breeze. Read more about customizing your close of day

Instant transfer

The quickest way to get your money is to take advantage of Square’s instant transfers.

Sometimes you need your money immediately – that’s when instant transfer can help. If available on your account, you can instantly send funds to your linked bank account using a debit card 24 hours a day, seven days a week, for a 1.5% fee per transfer. Once you’ve set your account up for instant transfers, you can start receiving your money immediately.

Note: To use instant transfers, make sure your minimum balance is at least $25, after processing fees.

Read more information on how to send your first instant transfer.

Note: New sellers start with a limit of one instant transfer per day of up to $500. As you run and grow your business with Square, a higher daily transfer amount may become available. Instant transfer may not be available for sellers using Square APIs until they have sufficient account history.

Manual transfer

By default, your funds will be transferred to your bank account every night, from Sunday to Thursday.

Instead of automatic transfers, you can enable manual transfers to choose when to transfer your money. Your funds will be available in your Square balance, and you can decide when to transfer them to your linked bank account. Your funds will then arrive in your bank account the next business day – at no extra cost.

Keep in mind any transfer requests received after 8.30 p.m. PST will be sent to your bank the following business day.

You are able to pause automatic nightly transfers and change to manual transfers, directly from your online Square Dashboard or from the Square app.From your online Square Dashboard:

1. From the main menu, select Balance in your online Square Dashboard .

2. Select a location and click Transfer settings.

3. Under Transfer Schedule > select Manual.

   

From the Square Point of Sale app,

1. From the main menu, tap More > Balance and select Transfer to bank.

To initiate a manual transfer from the Square app:

1. Open your Square app on a mobile device or iPad and select More > Balance.

2. Tap Transfer out.

To initiate a manual transfer from your online Square Dashboard:

1. Log in to your online Square Dashboard and go to the Balance tab.

2. Select one of your locations under the Locations section.

3. Click Transfer out.