Hi @Simsedlover - Welcome to The Seller Community, it's always nice to see a new face 😊
Great Question.
With Square, you can choose when to receive your funds. We offer a couple of options – our standard transfer schedule, a custom transfer schedule (tailored by you to your business hours), or transferring your funds to your Square Card.
Square doesn’t have transfer limits with our standard or custom schedules. We won’t hold funds based on the amount, frequency, or type of transaction.
Instant transfers
The quickest way to get your money is to take advantage of Square’s instant transfers.
Sometimes you need your money immediately – that’s when instant transfer can help. If available on your account, you can instantly send funds to your linked bank account using a debit card 24 hours a day, 7 days a week, for a 1.5% fee per transfer.
While instant transfers are easy to send to your bank account you will need a few things before you can get started:
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Link a bank account and a supported U.S.-issued Visa or MasterCard debit card to your Square account.
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Make sure you have at least $25, after processing fees, in your Square Balance.
Once you’ve set your account up for instant transfers, you can start receiving your money immediately.
Read more information on how to send your first instant transfer.
Note: Some new sellers start with a limit of one instant transfer per day of up to $2,000 or one same-day transfer of up to $10,000. As you run and grow your business with Square, a higher daily transfer amount may become available.
Same-day transfer
Same-day transfer has the speed of instant transfers, without the hassle. If you routinely need your funds faster than one to two business days, same-day transfers may be available to automatically transfer your funds at your close of day. Using a debit card, funds are sent to your linked bank account for a 1.5% fee per transfer.
Your funds will routinely be sent to your linked debit card 15 minutes after your close of day, every day.
To use same-day transfer, you must have a minimum balance of $1 after Square’s fees. You can send payments as large as $10,000. If your daily balance exceeds $10,000, you’ll receive multiple transfers from Square. There is one exception: Individual payments greater than $10,000 won’t be sent via same-day transfer or instant transfer. When this occurs, these payments will be sent via next business day transfer and will be available within one to two business days to your linked bank account.
Because same-day transfer works just like instant transfers, any funds which do not qualify will be sent on our next day transfer schedule.
Note: Some new sellers start with a limit of one instant transfer per day of up to $2,000 or one same-day transfer of up to $10,000. As you run and grow your business with Square, a higher daily transfer amount may become available.
Learn more about setting up your first same-day transfer.
As always, feel free to stop by The Community with question, concerns and even feature requests. We are more than happy to assist. ✨
Ria
Community Moderator, Square
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