Cancel transfer to bank

Just transfered funds from Square savings to a bank checking account. Got the message that the transaction will be completed tomorrow. I need to cancel this transfer which was made to the wrong account, how do I do it?

361 Views
Message 1 of 2
Report
1 REPLY 1
Square Champion

Hey there @CFP.  Unfortunately, the way the national ACH system is set up, once a transfer is initiated it can just be cancelled.  If the account you sent it to is closed, then the transfer will bounce back to Square and they will put it back in your savings.  That will take a few business days both ways, however, plus processing time.  I’ll hope that the funds aren’t going to an account that you no longer control.

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!
337 Views
Message 2 of 2
Report