Overdraft Protection
Welcome to Square’s Early Access Program for overdraft protection. We’re super excited to share this new feature with you.
We know that sales and expenses don't always line up, and sometimes you need a little cushion for supplies or expenses prior to getting paid. At Square, that's okay. We're testing free overdraft protection so that you can spend on your Square Card with confidence.
With this feature, your account will have overdraft protection of up to a certain dollar amount (refer to your email for your allowable overdraft amount). You will be able to confidently use your Square Card to make purchases, giving you peace of mind that your expenses are covered, even in a cash flow crunch. We know that fees are top of mind, and we want to assure you that for the duration of the early access program program, there will be no fees associated with using this feature.
FAQ
Q: What is my overdraft limit?
A: While the feature is still in early access, your limit should be emailed to you separately. Contact betafeedback@squareup.com with questions about your limit.
Q: Are there any fees for overdraft protection with Square?
A: No, there are no additional fees.
Q: Do I have to do anything to turn it on?
A: No. Your account should already be upgraded to allow for overdraft protection.
Q: How do I pay back my negative balances?
A: You can pay back negative balances through regular sales processing or by adding money from your linked bank account. While the feature is in early access, there are no time limits for paying back the money.
Q: Will this affect my credit history?
A: No. We do not perform any additional credit checks in order to offer this feature.
Q: I don't want this. How can I turn this off?
A: Please contact betafeedback@squareup.com and a member of our support team can disable it for you.
Q: I’m having trouble accessing my overdraft limit funds
A: Please call 415-480-4616 between Monday to Friday, 9am-5pm EDT for any immediate issues regarding your funds. During non business hours please leave a message and we’ll get back to you on the next business day.
Q: Does this work with Square Payroll?
A: Yes, the overdraft protection still applies when you use your Instant Payments, up to your designated overdraft limit.
We would invite you to fill out a preliminary survey Overdraft Protection Preliminary Survey, and let us know if you have any questions/concerns. We can be reached at betafeedback@squareup.com.