Hey @Sunshine_1628. There are two answers to your question.
First, since you seem to be a new Square seller, the answer is yes. After the close of every day, any funds in our Square balance are automatically transferred to our bricks-and-mortar bank accounts. You can control this from your dashboard in Account & Settings, using the transfer schedule.
Second, if you ever decide to set up a Square Checking account (with debit card), the automatic transfers will be stopped. In this scenario, since Square doesn’t want to chance overdrafting your account, all funds in your Balance stay in your Square Checking account for use in Square Bill Pay, etc.
I hope that helps.
Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)
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