[Improvement] Take control of your cash flow with Square Banking

[#1]

Hi sellers! 🌟

We’re excited to share new updates to Square Banking that make it even easier to manage your money. Square Banking puts you in control of your finances by unifying your business money management in one place. Access instant spending power, streamlined budgeting, and automatic loan eligibility — all designed to set your business up for financial success.

Access funds instantly with a free Square Checking account¹

New accounts can now sign up for checking and payments in one convenient step¹ (with option to opt out). After every sale, your money goes directly into your free business checking account, so your funds are immediately at your fingertips. Cover business expenses, pay for supplies, access funds, and move money whenever you need to.

• Make a sale, and spend instantly with your Square Debit Card.²
• Get paid via an ACH bank transfer with $0 in processing fees with Square Invoices.
• Access direct deposits up to 2 days faster via ACH deposits.³
• Deposit cash, write checks, and pay bills.4

✨ No Waiting – get free, instant access to your earnings [Explore Square Checking] 

Save automatically and budget effortlessly with Square Savings

Save automatically with every sale — all while earning 1.00% APY5. New smart folder recommendations help take the guesswork out of budgeting with personalized guidance on how much to save for top expenses, like taxes and supplies. Make budgeting for your business a breeze with a free Square Savings account — no fees or minimums.

• Organize funds into dedicated folders for taxes, supplies, bills and more.
• Earn 1.00% APY — more than 2x the national average.⁶
• Get smart recommendations, based on insights from businesses like yours.
• FDIC-insured up to $2.5M¹.

💡 Put your savings on autopilot [Explore Square Savings] 

Get fast, flexible funding with Square Loans

Fast funding made simple. Eligible sellers can access funding quickly with Square Loans. Pay it back automatically with a percentage of daily sales, adjusting with your business’s cash flow; so you pay less on slow days and a little more when sales are strong. 

• Quick and easy application: apply in minutes, no long forms.
• Funds delivered fast, directly to your Square Checking account.
• Easy, automatic repayments with a % of your daily sales.
• No interest, just one flat fee.

💸 Fuel your business growth [Check eligibility]

Now you can manage your money where you make it — with free business banking tools that are seamlessly built into your point of sale. → Visit your Dashboard

Ready to take your business to the next level? Visit Square Releases to explore these features and discover even more tools designed to help your business thrive.

¹Block, Inc. is a financial services platform and not an FDIC insured bank. FDIC deposit insurance coverage only protects against the failure of an FDIC-insured deposit institution. If you have a Square Checking account, up to $250,000 of your balance may be covered by FDIC insurance on a pass-through basis through Sutton Bank, Member FDIC, subject to aggregation of the account holder’s funds held at Sutton Bank and if certain conditions have been met. See Terms and Conditions. 

Instant availability of Square payments. Funds generated through Square’s payment processing services are generally available in the Square Checking account balance immediately after a payment is processed. Fund availability times may vary due to technical issues.

ACH transfer fund availability: Instant availability does not apply to funds added to the Square Checking account via ACH transfer. ACH credit transfers to your account may take 1–2 business days.

²Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated.

³With early deposit access, Block, Inc. may make incoming electronic direct deposits made through ACH available for up to two days before the scheduled payment date. Not all direct deposits are eligible. Early availability of direct deposits is not guaranteed and may vary from deposit to deposit. Early deposit access is automatic and there is no fee.

⁴Cash deposited into your Square Checking account is generally available in your checking account balance immediately after a deposit is processed. Fund availability times may vary due to technical issues.

VanillaDirect Pay is provided by InComm Financial Services California, Inc. and by InComm Financial Services, Inc. (NMLS# 912772), which is licensed as a Money Transmitter by the New York State Department of Financial Services. Terms and conditions apply.

5Savings accounts are provided by Square Financial Services, Inc. Member FDIC. Accrue annual percentage yield (APY) of 1.00% per folder on folder balances over $10. APY subject to change, current as of 2/18/2025. No minimum deposit is required to open an account. Accounts will not be charged monthly fees. Accounts are FDIC insured up to $2,500,000. Pending balances are not subject to FDIC insurance.

6 The rate of our savings account is more than 2x the national average of 0.41% APY, based on the national average of savings accounts rates published in the FDIC Weekly National Rates and Rate Caps accurate as of 1/21/2025.

All loans are issued by Square Financial Services, Inc. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment is required and you must repay your loan as specified in the loan terms. Loan eligibility is not guaranteed. All loans are subject to credit approval.