Transfer Square Balance from one location to another

[ryanwanner]

Hello!

It would be helpful if we had the ability to transfer funds from one location to another location under the same Master Account when both locations use Square Checking.

Use case: we have two locations that have separate Square Checking accounts. If we need to move funds from one location to another, right now we need to transfer to the brick and mortar bank then transfer back up to the other location. That's a few extra steps that could be eliminated if we could just transfer between accounts from the dashboard.

[BrianRLloyd]

Hi,

I agree this would be a useful feature.

[Ellie_]

We really appreciate your feedback here, @ryanwanner! Also thank you for chiming in, @BrianRLloyd, while this feature is not currently planned, we have passed this on to our product teams. If any updates come along, we will update this thread. 

[ryanwanner]

@Ellie_ That's kind of a bummer to hear, and I hope it will eventually get on someone's radar.

If Square is trying to become the bank of small business, I feel it needs to have most if not all of the same features a brick and mortar bank has available in its online environment.

Every b&m bank I've used has had the ability to transfer funds between accounts. This would help the flow of multi-location accounts tremendously.

[OCRED1]

Hi all, I've been struggling with this issue as well. I need to be able to pay out to another bank account other than my primary. However, I found a workaround: I can switch banks, pay into the one I want, and then switch back. Of course, keeping Manual Payment checked so the entire balance doesn't get transferred, just the amount I need. I hope this helps!

[SaraBeth]

A year later.... is there a way yet for transfers between locations?

[ryanwanner]

@SaraBeth Yes! Square released this  option about a year ago now. When you’re in the balance section of the app or dashboard, when you tap the Transfer button you’re given the opportunity to choose another Square Balance. 

[SaraBeth]

Well poo. I don't have that on my end. When I tap the transfer button, it only gives me the option for 'instant' or '1-2 business days'. There isn't a Square Balance option. 

[ryanwanner]

@SaraBeth Just for clarification's sake: does the account that you are transferring from a Square Checking account or is it linked to a usual brick and mortar account? From what I know, there isn't a way to transfer pending transfers to a B&M account into a Square Checking account. You'll have to transfer the funds to the B&M account then transfer them into Sq Checking.

What is available is if you have multiple locations, each with its own Square Checking account, you can transfer funds between the two. For example, I have two locations, each with their own separate Sq Checking accounts. I have the ability to transfer funds between the two locations just like I could with two separate accounts at the same B&M bank.

[SaraBeth]

So that's what the issue was. Each location needs a Square checking set up. I did that for the locations and I was able to transfer internally. Thank you for that!