thread Re: Daily Bank Transfer Limits - New Square Account in Online Store

Daily Bank Transfer Limits - New Square Account

Kshah123 — Tue, 26 Nov 2024 16:52:24 GMT

Hello,

Does anyone know what the daily transfer limits to your bank account are for new square accounts?

if you have 2 locations instead of one, does it mean your bank transfer limits double?

Most of my revenue is from CashApp (integrated to my square).

Please help, I got two different responses from chat support.

Re: Daily Bank Transfer Limits - New Square Account

Summer2024 — Wed, 27 Nov 2024 14:26:41 GMT

Hello @Kshah123 ! Welcome to Square and welcome to the Square Community! We are so glad you're here.

New Square sellers start with a limit of one instant transfer per day of up to $2,000. As you run and grow your business with Square, a higher daily transfer amount may become available.

However, your next day transfers are not limited. Here is a Support Article that details transfers and everything you may need to know about the transfer schedule.

I hope this helps!

Re: Daily Bank Transfer Limits - New Square Account

Kshah123 — Fri, 29 Nov 2024 15:54:38 GMT

Thanks Summer2024 for your resonse.

If I understand your response correctly, there are only limits for Instant Transfers.
Even if it is a new account, there are no limits on next day transfers?

Re: Daily Bank Transfer Limits - New Square Account

Summer2024 — Fri, 29 Nov 2024 15:57:46 GMT

@Kshah123 - That is correct.