thread Re: How long it takes a credit card payment to be deposit in a checking account? in Archived Discussions (Read Only)

How long does it take for a credit card payment to be transferred into a checking account?

DHT — Thu, 09 Jan 2020 23:07:22 GMT

[This post was updated by moderator in 2020 to reflect a name change - deposits are now called transfers.]

The title of this thread has been changed from the original: How long it takes a credit card payment to be transferred in a checking account?

Just need to know can a credit card be transferred by using Instant payment or Same Day payment in to a checking account.

Re: How long it takes a credit card payment to be deposit in a checking account?

Tom — Thu, 09 Jan 2020 22:54:26 GMT

Hi @DHT,

Welcome to the Seller Community! Are you asking about transferring your Square balance to a credit card? At this time, we can only send money to a fully transactional bank account, though we'll announce any other developments as we continue to expand.

Another option that my be helpful for your business is Square Card, which allows you to spend money directly from your Square balance. Learn more here: Introducing Square Card.

Hope this helps! If this doesn't quite hit the mark, please let me know and we'll be happy to take another look. 🎯

Re: How long it takes a credit card payment to be transfer in a checking account via Square readers?

DHT — Thu, 09 Jan 2020 22:55:31 GMT

Just wanted to know, by swiping or inserting credit card chip, how long it takes a credit card payment to be transferred into a checking account via Square readers? Will it be instantly right away or hour(s) later?

Re: How long it takes a credit card payment to be deposit in a checking account via Square readers?

Tom — Thu, 09 Jan 2020 22:56:33 GMT

Ah, yes! You have both options: once you accept a payment, you can send it instantly or it will automatically be transferred to your bank at the end of each business day. For complete details on how it works, have a look here: Transfer Options with Square.