Link and Edit Your Bank Account
About linking your bank account
Your Square account will not be activated to accept payments until your bank account is fully verified. Once your bank account is linked and verified, you can start accepting payments and receiving your funds on any one of our transfer schedules. If you already have an account linked, you can change it at any time.
If you have a business with multiple locations, each location can share a single bank account or you can link a unique bank account to each one. You can also link multiple bank accounts to your Square account to disburse your payments balance and more easily switch bank accounts between your locations.
Before you begin
There are two ways to link your bank account.
Plaid: we recommend using Plaid to instantly link your bank account. Plaid allows you to quickly and securely connect your bank account without the need for manual verification (while also preventing typos). Linking your bank account with Plaid is free and does not require you to accept payments through Plaid.
Manual verification: the manual verification process can take up to four working days (excluding weekends and holidays).
You can link and edit your bank account from your Square Dashboard or the Square app. Linking via Plaid is available on the Square Dashboard only. You can only link one bank account per location at this time.
Square requires a transactional bank account (an account that allows for both transfers and withdrawals) to support refunds or chargebacks. Prepaid cards or bank accounts without this functionality (such as PayPal) aren’t supported. Your bank account must be operating in British Pounds. Square will perform a test transfer of £0.00 to verify your bank account. You may see this noted in your banking statements.
Link your bank account
You can link and edit your bank account from your Square Dashboard and from the Square app.
- Sign in to your Square Dashboard and select Settings > Account & Settings > Business information > Bank Accounts.
- Click Link bank account > Add an external account and review the information about connecting Square with Plaid.
- Click Continue to link your bank account instantly. The Plaid flow will now begin.
- Enter your banking credentials, username, and password.
- Follow the instructions on screen to complete the verification steps.
- Select the account(s) you want to link and click Submit.
The bank account you linked will now appear in Accounts & Settings > Bank Accounts. You will receive a confirmation email to the email address associated with your Square account.
- Sign in to your Square Dashboard and select Settings > Account & Settings > Business information > Bank Accounts.
- Select Link an account > Add Bank Account.
- Select Link manually instead and enter your banking information.
- Select Verify.
- Verify the details, and click Submit to authorise the verification of your bank account.
The bank account you linked will now appear in Accounts & Settings > Bank Accounts. You will receive a confirmation email to the email address associated with your Square account.
- Open the Square app and tap More > Settings > Account > Bank Account.
- Tap Link Bank Account.
- Enter your Square account password, and select Continue.
- Enter your bank account information and tap Continue > Done.
- Verify the details, and tap Submit to authorise the verification of your bank account.
The bank account you linked will now appear in Accounts & Settings > Bank Accounts. You will receive a confirmation email to the email address associated with your Square account.
Assign bank accounts to your business locations
If you have multiple locations and have verified multiple external bank accounts to your Square account, you can change the linked bank account for each of your locations.
Sign in to your Square Dashboard and select Settings > Account & Settings > Business information > Bank Accounts.
Under All locations, select the linked bank account next to the location in question.
From the drop-down menu, select the verified bank account you want to add to that location. If you do not see the bank account you want to link, select Add external bank account and complete the bank verification process.
Click Update linked account > Done.
If you are manually verifying a new bank account to replace an existing bank account, you must click the link in the confirmation email within 24 hours to complete the process. If you instantly verified your new bank account using Plaid, this step is not required.
Edit your bank account
You can edit your linked bank account from your Square Dashboard. If you need to to stop transfers to your current bank account while you update to a new account, contact us for help.
Sign in to your Square Dashboard and select Settings > Account & Settings > Business information > Bank Accounts.
Select Change Bank Account.
To link your bank account instantly via Plaid, select Continue. Select your bank and sign in to your account to complete instant verification.
To manually verify your bank account, select Link manually instead and provide the requested bank account information.
Select Verify.
If you are manually verifying a new bank account to replace an existing bank account, you must click the link in the confirmation email within 24 hours to complete the process. If you instantly verified your new bank account using Plaid, this step is not required.