Is Instant Transfers Available in Australia?

[JoshBurton]

Hi

I have been using square for about a month now and im wanting to know how to do instant transfers?

Iv got 2 work vehicles and 1 requires new tyres as they have been slashed over the weekend and im wanting to transfer funs to get my 2nd van on the road?

can anyone assist as is all the how to options done help.

Squares how to's say there show be a instantly transfer now but i done see the option on the app or PC.

Thanks

Josh 

[This post was updated by moderator in 2019 to reflect a name change - deposits are now called transfers.]

[Seamus]

Hey @JoshBurton,

Thanks for getting in touch. At the moment Instant Transfer options are unfortunately only available for US Square accounts, due to the differences between how payment networks work in Australia vs the USA.

We are looking into ways we might be able to improve transfer times in Australia, but for now our transfers are sent automatically on a next business day basis. This means transfers will automatically hit your account in 1-2 business days from when the transaction takes place.

[This post was updated by moderator in 2019 to reflect a name change - deposits are now called transfers.]

[Slick2021]

Hi,

Why do your emails to Australian businesses say instant transfers? You should change this as it's misleading?

If I change my transfer times I receive the below..

Hello,

You are now enrolled in a manual transfer schedule. Your transfers are no longer automatic, and the money you earn will accrue in your Square balance. You can transfer money to your linked bank account by manually initiating a Next Business Day Transfer or Instant Transfer.

[Seamus]

Hey @Slick2021, thanks for the heads up. It sounds like some US-verbiage has made it into an email by mistake, I'll raise this with the team and see that we can have this corrected.