Instant Transfer Update: Additional Debit Card Support

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The quickest way to get your money is to take advantage of Square’s instant transfers.

With instant transfers, you can deposit funds immediately to your bank account 24 hours a day, 7 days a week by linking a debit card to your Square account. 

We’re excited to share that we’ve made an update that will make instant transfers available to more Canadian sellers. Starting today, you can link your physical RBC Royal Bank of Canada debit card with the PLUS system logo and a 16 digit PAN, no CVV and no expiration to your Square account to transfer money instantly.

Once you’ve linked your debit card from the app, you can start transferring your money instantly, for a 1.5% fee*.

Link a debit card from the Square App to start using instant transfers

1. From the navigation menu, tap ≡ More
2. Tap Settings > Account > Transfers
3. Key in the required debit card information
4. Tap Link
5. Verify your debit card via the email sent to the address associated with your Square account

Send an instant transfer

From the Square App

1. From the navigation menu, tap ≡ More.
2. Tap Balance > Instantly Transfer

From the Square Dashboard

There are three ways to initiate an instant transfer from your Dashboard:

1. From your Home page, click Transfer Now > Transfer Now.
2. From Balance, click Transfer Now.
3. From Transfer Settings > Transfers, click Transfer Now, located under instant transfer.

Learn more about setting up and managing instant transfers → 

*Instant transfers require a linked debit card and cost a fee per transfer. Only physical Canadian debit cards with Visa Debit or PLUS network support can be linked to a Square account at this time. Funds are subject to your bank’s availability schedule, but are generally available in your bank account within 20 minutes of initiating an instant transfer. Minimum amount is $25 CAD and maximum is $5,000 CAD in a single transfer. New Square sellers may be limited to one instant transfer per day of up to $500 CAD.