Timeframe on mobile check deposits

[Squee-Genie]

If I would of known it takes a week for mobile deposits to post i would of never done it. 6 days is ridiculous.  Won't happen again. I have bills and you have done nothing but make life more difficult.  Made tons of deposits before this with you over mobile. Never this long. Hours . Sometimes minutes. Won't be using your services much longer this continues.

[ryanwanner · Accepted solution]

Hello @Squee-Genie !

I've used mobile check deposits for a while now, and I can say that I usually see deposits hit my account within 1-3 business days now.

When I started with check deposits, it did take longer, up to 7 business days. As I kept depositing checks from the same people the deposit holds shrunk.

Please remember that Square is at the mercy of the issuing bank for verification of funds for the check as well as their own internal checks on those accounts. Check fraud has always been an issue, and Square needs to cover themselves to make sure there isn't any bounce issues. I personally would prefer a longer hold on the check instead of getting an alert that my accounts are negative because a deposited check bounced.

Could the whole verification process be faster? Absolutely. But it's tied to the banking system as a whole, and I don't see that system getting updated any time soon. If you're wanting near-instant funds transfers, I recommend leaning on your customers to start payments via ACH. This is easily added to your invoices.

[Sservices]

I’ve had square for like 8 years and never had a dispute or had to issue a refund or anything like that. Have deposited countless checks and normally they release part of it immediately and give you a date when you can expect the rest to be deposited. Last week I deposited a check, none of it was made available, no estimate on when it will clear except up to 6 business days, and the payer has had the money drafted from their account for 3 days now. I run a sole proprietor ship and this was a large check but not crazy big and it has rendered me completely dead in the water. It’s 2026. I can cashapp anyone 10000 and they have it immediately. A week to verify a check is insane. Not to mention holding my money arbitrarily amounts to an interest free loan for the bank. Now I’m about to go get an advance and you know what they want to charge for letting me borrow 500 for 4 days? $125! Insanity.