Balance Issues

[jhplugs]

Hey all!

Just wondering, if a customer purchases an item from my website, in my case it was £150

How long until I get my money in my balance, I asked Square support and they said it can take 1 business day, but I don’t really believe them. Is this normal? Can someone give me more insight on what this is. 

Thank you. 

[Breffni · Accepted solution]

Hi @jhplugs 👋 thanks for your post. 

The information that you received from our support team is correct, depending on the transfer schedule you have selected. 

With our default standard next working days transfers, for sales that are processed before Square’s payment cutoff time at 00:00, transfers are initiated the following working day. For sales that are made after midnight, transfers are initiated in two working days.

Transfers are initiated at approximately 16:00, Monday through Friday. Once your transfers have been sent, they should be available in your bank account within an hour. 

Weekend transfers will be sent and received on Mondays. 

If Instant Transfers are available on your account, you can instantly send funds to your linked bank account 24 hours a day, seven days a week, for a fee of 1% of the transfer total.

You can check your upcoming transfer and edit your settings: 

From your online Square Dashboard:

1. From the main menu, select Balance in your online Square Dashboard .

2. Select a location and click Transfer settings.

Let me know if you have any questions.