Add Funds to Square Checking Account from Personal Account

[blueladybugllc]

The title of this thread has been edited by a Square Moderator from the original: "Funding your Square Checking Account"

Hi All,

I am a new business owner and I have set up a square checking account.  I have a business loan and I am trying to figure out the easiest way to get the funds from my personal checking account into my square business checking account.

[ryanwanner]

Hello @blueladybugllc !

First things first, let me welcome you to the wonderful, stressful, soul-sucking, and most rewarding life of a business owner! You'll love and hate it simultaneously! 🙂

I have a couple of ideas for you:

-Set up Instant Transfers to your personal account's debit card. Once that's cleared you can transfer the funds into your bank account by going to the "Add Funds" section in your app or dashboard. Most banks have a daily limit though, so you'll want to talk to your bank about what that limit is. They may be willing to waive it for your purpose--although Square has a $2000 daily limit on inbound funds.

-If you still have checks for your personal account, you could write a check to the business. The point of sale app has the ability to do a mobile check deposit. Do know that it can take 3-10 business days for the check to clear--if it's a big check (and especially since your business is just starting) plan on it taking closer to 7-10 business days so Square can do all the checks they need to do to make sure the check is legit.

Hope this helps!

[blueladybugllc]

Thanks @ryanwanner but when I look at the information about transfers they all talk about transfer from square to your personal checking.  I do not see any info about being to transfer the other way from personal checking into square banking account.

I guess I will try the check route.

[ryanwanner]

@blueladybugllc You can definitely transfer in once the instant deposits are configured. There will be an “add money” button in your app and the dashboard. It will transfer instantly from your debit card and place it in your balance. I’ve used this feature a couple of times myself. 

[blueladybugllc]

Ahh got it...Thank you so much.

[DesignsByJessey]

i just did the transfer to my account and i do not see the "add Money" button can you tell me how you did it ?

[blueladybugllc]

ok so clearly I am missing something here @ryanwanner 

Is there a separate login area to access your square banking account?  Whenever I log in, it takes me to my square POS dashboard first?

So I did the "Add Money" Option from my linked debit card.  It only allowed me to do $500.  So now I see the money in there but the "Add Money" option is not there anymore only the "Transfer Out" option.   When I click on the "Transfer out" option is looks like it is asking me if I want to transfer it to an external bank,

Transfer Options

Instant transfers send money to your bank account instantly, for a fee of 1.5% of the total transfer amount.

Next-business-day transfers send money to your bank account in one to two business days, at no extra charge.

So am I now supposed to Transfer this money into my square checking?  I thought that is where I was adding money but it looks like it is sitting in the POS pot.  If not how do I get more money into my square checking account?

[ryanwanner]

@blueladybugllcYou're in the right place when you're on the Dashboard! Look for the Balance link on the left hand side of the page. You may need to click on the location you want to fund on the next screen, then click the Add Money button.

I think the $500 limit is due to the fact that you're a new account--it would also be why the Add Money button disappeared. I owe you an apology: I didn't think of the fact that Square will limit inbound transfers on new accounts. I'm not entirely certain as to when the limits release--that's something that Customer Service can answer fully.

Actually, I think your best bet would be to contact CS now. They may be able to waive the transfer limits considering your circumstances.

[blueladybugllc]

@ryanwanner thank you for the help. Talked with support since I am new the limit is 500 a day..an actual 24 hour day. The add funds button showed back up and I clicked it again.

[DesignsByJessey]

i have done what you did and i do not see the "add Money" option any where 

[ryanwanner]

Hi @DesignsByJessey ! Sorry for the late reply here! Are you still not seeing the "Add Money" button anywhere?

On the Dashboard, go into the Balance section. If you have multiple locations set up, you'll have to click on the location that has your Sq Card linked to it. Otherwise, you should see a screen that has the Add Money button right under your balance.

On your Point of Sale app, tap  More-> Balance. You should see two links under your balance: add money and Transfer to Bank.

If those are still not there--they may not have been at first while your account was created--your best bet would be to call into Customer Support so they can dig into what's going on.

[DesignsByJessey]

Yes I do not see it any where I reached out to Square Support and at the bottom of the email this is what  they said

“Note: If you have accepted API payments in the past, the Add Money button will not appear, and you will not be able to add funds to your balance.”

[DesignsByJessey]

Spoke with a square banking account agent it is nit available in Canada