thread Re: Early Access to Instant Transfers in Online Store

Early Access to Instant Transfers

Elyn — Thu, 04 Mar 2021 18:13:28 GMT

Hey Sellers 👋

Would you like to be able to transfer your Square Balance instantly to your bank account? Well our Balances & Transfers Team has been hard at work, and we are ready to start beta testing this popular feature today!

Instant transfers don’t require a commitment to use all the time, but are great for those times you need to access your money now. Instead of waiting the typical 1–2 business days you currently have for a standard transfer to the bank, you’ll have a new option to instantly transfer your Square Balance to your bank account, even on weekends and holidays! Keep in mind that each instant transfer costs 1.5% of the total transfer in addition to Square’s standard card processing fees.

Note: only Visa Interac cards can be linked to your Square account at this time.

To join this beta click the link below to join the Beta Community and our group of other sellers in the program. We'll share set up instructions and answer any questions you have in the group.

As a member of our Beta Community, a private community you can provide input, get support on latest features, report bugs, and submit product requests.

Get Early Access

Your participation and input is important to us. When you provide feedback, you help improve your future experience with Square. We thank you for your time and hope you have a great day. 🇨🇦

Re: Early Access to Instant Transfers

Helen — Wed, 16 Jun 2021 21:12:18 GMT

Update: Instant Transfers are now available in Canada! 🎉 Link a debit card to instantly send funds to your linked bank account 24 hours a day, 7 days a week, for a 1.5% fee per transfer.

Learn how to set up and manage instant transfers in our Support Centre.

Note: Only Visa debit cards can be linked to your Square account at this time.

Re: Early Access to Instant Transfers

Woodcraft — Tue, 22 Jun 2021 03:04:14 GMT

My VISA debit doesn't work here. "Card Not Suported". So.... how do we fix this?

Re: Early Access to Instant Transfers

Outlines — Wed, 26 Apr 2023 20:22:02 GMT

We've been "marketing-messaged" to get instant access to funds with the Square card. That lead me to believe that it was instant transfers. Instead, it appears to have been a way for you to sell MasterCards?

In addition, Royal Bank here in Canada (which is where I bank) is phasing out Visa Debit cards.

So, no instant "transfer" for me right?

Re: Early Access to Instant Transfers

Shakticat — Wed, 11 Oct 2023 17:24:47 GMT

I don't have a VISA debit nor PLUS card, and none of my other cards are "supported". I am not able to get past this screen to set up my business. How do we fix this?

Re: Early Access to Instant Transfers

_Violet — Wed, 11 Oct 2023 21:53:07 GMT

Hi @Shakticat - I see this is your first post in the Seller Community so I'd like to officially welcome you! 🎉👏

Only physical Canadian debit cards with Visa Debit or PLUS network support can be linked to your Square account at this time. If you do not have this type of card, you also have the option to link a bank account for your transfers.

You may also want to check out Square Card. Square Card is a free business expense card that is connected to your Square balance. Take a payment, and the money you earn is reflected in your balance. You can spend that money with your Square Card anywhere internationally that Mastercard® cards are accepted (including in person, online, and at ATMs). To learn more about this feature, please see this article from our Support Center.

I hope this information is helpful but please do let me know if you have any additional questions.