thread Re: Bank Verification in Payments Troubleshooting

Bank Verification

Gerald1492 — Sat, 20 Sep 2025 13:46:39 GMT

My bank account shows the verification payments recieved but bank account is still not verified on square. Why is this?

Re: Bank Verification

Kassi_ — Thu, 20 Feb 2020 16:27:48 GMT

Welcome to the Community, @Gerald1492 -

Bank verification is a little tricky. It can take up to 4 business days for the entire verification process to complete. It's a lot of back and forth communication with the bank. Have you seen a credit, then debit of $0.01 to your bank account?

This is an initial step in our bank verification process, which allows us to ensure that we can communicate with your bank. Right now, any payments you take are accumulating in your Square balance. Once the verification is complete, they will be deposited into your bank account.

Verification dep/wthdrwl posted in my linked bank account -Still saying "Verifying Account" ?

BeautyMarked82 — Mon, 30 Mar 2020 19:41:59 GMT

I can see the verification deposit & withdrawal transaction in my linked bank account - but in the app, still says "processing" verification". How long does this normally take?

Re: Verification dep/wthdrwl posted in my linked bank account -Still saying "Verifying Account" ?

Joe — Tue, 31 Mar 2020 13:42:23 GMT

Hi there, @BeautyMarked82 - thanks for taking the time to reach out here and make your first post via the Seller Community! We are happy to have you join us 👋

I've gone ahead and merged your post with a similar thread of Sellers who were also asking about bank verification timelines. This Best Answer from Kassi may be helpful here in regards to your bank and its verification process. I would also checkout this helpful resource from our Support Center in regards to bank verification ETA.

Let me know if you have any clarifying questions! We are here to help.

Is it normal to have deposit one cent and withdrawal one cent in my account today?

Gam1 — Tue, 31 Mar 2020 16:50:47 GMT

It seems like there’s a bank verification done today on my account which I wasn’t aware of that it will be done. Is this normal square? I’m not in any process other than I have not processed any transactions in few weeks. I just want to make sure I’m not being hacked.

thanks.

Re: Is it normal to have deposit one cent and withdrawal one cent in my account today?

AshleyK — Tue, 31 Mar 2020 18:49:54 GMT

Hey @Gam1 thanks for posting and asking. I've merged your post with an existing thread in which Kassi does a great job of answering your question, but in general, the answer is, yes, we will do a test deposit and withdrawal to your bank account if you have recently tried to link your bank.

Let me know if you have any other questions. Thank you again.

Re: Is it normal to have deposit one cent and withdrawal one cent in my account today?

Gam1 — Tue, 31 Mar 2020 19:06:39 GMT

That’s my concern because I didn’t change my bank account and yet there’s a verification initiated. I don’t know what that’s about. If you guys do random verification then that’s okay. I just want to make sure I’m not being hacked.

Re: Is it normal to have deposit one cent and withdrawal one cent in my account today?

AshleyK — Tue, 31 Mar 2020 20:41:32 GMT

You can check if your bank account has been changed under Account & Settings > Bank Accounts on the Square Dashboard. If you see changes you didn't make, please contact us as soon as possible so we can look at your account with you.

Re: Is it normal to have deposit one cent and withdrawal one cent in my account today?

Gam1 — Wed, 01 Apr 2020 03:36:54 GMT

the account number is the same that's why i was wondering what prompt your deposit of one cent and withdrawal of one cent. Normally that only happens if I changed my bank account. In this case, I didn't make any changes, bank account is still the same and yet there's a bank verification initiated that's why I was asking if you guys do random verification because this has never happened before.

Re: Bank Verification

BeautyMarked82 — Wed, 01 Apr 2020 14:43:37 GMT

Hey there- thank you so much for the reply. I've seen:

"Square Inc., SDV-VRFY" ($0.01)

both wthdrwl/depst. completed

in my linked account since 03/29/20.

Yet my app is saying "verification in progress" still today.

I haven't received my actual Hardware yet, but I'm assuming that doesn't make a difference on the account verification process.

Any other ideas you may have? Or is this average timing? @Kassi_

Re: Bank Verification

Joe — Wed, 01 Apr 2020 14:49:23 GMT

Hi there, @BeautyMarked82 - thanks for the prompt reply! I can step in for Kassi, here.

These small deposits and withdrawals are par for the course and a good sign in regards to verifying your bank! Its important to remember here that verification can take up to 4 business days, but so far - everything seems to be on track.

Keep us updated!

Re: Bank Verification

BeautyMarked82 — Wed, 01 Apr 2020 15:10:32 GMT

Thank you @Gerald1492

Today is the 4th business day- so we’ll see - figured maybe

COVID-19 issues may have things backed up 🤷🏻‍♀️

But quick question- since I don’t have hardware and verification is pending, should I wait to utilize my Square (via manual entry) all together, until I received mag reader & verification is complete?

I cannot link my back account it is saying that they cannot locate the information I submitted with

Vauldine — Sun, 05 Jul 2020 16:22:25 GMT

I cannot link my back account it is saying that they cannot locate the information I submitted with . I checked with my back and they have no discrepancies with my account information it is correct. Besides it is this same account I have linked to Paypal. However they too out $0.01 from the same account that they cannot locate. So the bank account its not linking to my Square account

Re: I cannot link my back account it is saying that they cannot locate the information I submitte...

Joe — Mon, 06 Jul 2020 16:27:35 GMT

Hi there, @Vauldine - thanks for reaching out to us here on the Seller Community! Happy to have you join us here. So sorry to hear about the trouble verifying your bank account.

Your bank account verification can fail for a variety of reasons. Use these tips to try again:

Use a transactional bank account. Prepaid cards and non-transactional accounts aren’t supported with your Square Account.
Double check your bank account number and routing information with your bank.
Ensure you have at least $1.00 in your bank account before you begin verification. We need to transfer and withdraw a small amount to ensure we can communicate with your bank account.

Since we were unable to withdraw the verification transfer we sent, your bank account remains unverified. Oftentimes we will not receive your bank’s withdrawal failure notice until a few days after the transfers have already gone through and your bank account is verified. Previous successful linking to other companies or accounts does not always insure successful verification through Square.

Since your verification has failed, please link a different transactional account, such as checking or savings account.

I've also gone ahead and merged your post into an existing thread of Sellers who were also experiencing issues in regards to bank account verification. This will help us keep track of this issues for record keeping purposes.

Let us know if you have any additional questions!

Having trouble getting my bank account verified

lacallestudio — Fri, 11 Dec 2020 06:18:05 GMT

Trying to get verified for funds transfer, tried for the last week and having trouble any reasons you might know. New to square.

Re: Having trouble getting my bank account verified

Joe — Fri, 11 Dec 2020 12:54:22 GMT

Hi there, @lacallestudio 👋 Thanks for reaching out to us here on the Seller Community! Would you mind clarifying the specific issue you are encountering in the verification process?

The verification process can take up to 4 business days to complete. If we have not received a failure notice from your bank after the 4th day, we assume the verification has been successful.

Then, we automatically send you an email notice that your bank account has successfully verified. Sometimes we receive the verification failure notice a few days after we’ve already informed you of the successful verification.

At this point, you may need to re-enter your bank account information and be sure you have at least $1.00 in your account to cover the small verification withdrawal.

In case you run into trouble, check out our bank-specific troubleshooting tips and directions on linking your bank account in our Support Center.

Re: Bank Verification

prwirth — Thu, 25 Feb 2021 19:47:01 GMT

Square successfully deposited and debited $.01 to my bank account. My bank shows the transactions were fully completed. Yet I received the following message in an email from Square:

Your bank verification failed because we were unable to communicate with your bank. Please contact your bank for more information or link a different account.

Additionally, the email contained a link: "Retry Bank Verification", which unhelpfully took me to a page that said:

You are not authorized to perform the requested action. You probably don't have the right permissions.

Meanwhile, I've manually initiated the verification process again, but I won't be surprised if the deposit and debit goes through and the verification fails again.

Can you please shed any light on this for me?

Re: Bank Verification

isabelle — Thu, 25 Feb 2021 20:39:57 GMT

Hmmm. Is it a checking or a savings bank account @prwirth? Additionally, please take a look at this Support Center article.

Re: Bank Verification

prwirth — Thu, 25 Feb 2021 20:42:31 GMT

Hi Isabelle, it's a checking account. I've read through the support center article, and the troubleshooting article, as well as several threads here about verification.

Re: Bank Verification

prwirth — Thu, 25 Feb 2021 20:43:25 GMT

Hi Isabelle, it's a checking account.

I've read through the support center article, and the troubleshooting article, as well as several threads here about verification. Nothing has helped so far.