If it’s asking me that a minimum of $25 is required for instant deposit, what is the correct amount?

VictorG — Thu, 19 Dec 2019 03:37:58 GMT

If I charge $25 and a minimum of $25 is required for instant deposit, then what would be my total so I can direct deposit every transaction?

Re: If it’s asking me that a minimum of $25 is required for instant deposit, what is the correct amo

ryanwanner — Thu, 19 Dec 2019 04:25:39 GMT

Hello @VictorG

The minimum of $25 it's talking about is what would be your balance *after* all fees and charges are taken out.

So you'll need to ring in a minimum of $26.75 to open up the instant deposit feature, which after the 2.6% +10¢ would leave $25 in your balance.

Word of warning, especially if you're wanting to deposit after every transaction: Square charges an additional 1% per instant deposit. You'll only get $24.75 each time. If you're needing that quick of access to your cash, you may want to look into the Square Card, where your balance is automatically available on a Square-branded debit card with no additional fees to you. At the end of the day you can manually transfer funds into your primary banking account.

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If it’s asking me that a minimum of $25 is required for instant deposit, what is the correct amount?

Re: If it’s asking me that a minimum of $25 is required for instant deposit, what is the correct amo