Link and Edit Your Bank Account
About linking your bank account
Once you link your bank account, you can start receiving your funds on any one of our transfer schedules. If you already have an account linked, you can change it at any time.
You need to link a Canadian bank account that operates in CAD currency to process payments using a Canadian Square account. If you have a business with multiple locations, each location can share a single bank account or you can link a unique bank account to each one. You can also link multiple bank accounts to your Square account to disburse your payments balance and more easily switch bank accounts between your locations.
Before you begin
The bank verification process can take up to 4 business days (excluding weekends and holidays). To verify your bank account, Square transfers and withdraws a small verification amount. Sometimes this transfer and withdrawal may process simultaneously, so you’ll need at least $1 in your bank account before you start the verification process.
You can link and edit your bank account from your Square Dashboard or the Square Point of Sale app.
Square requires a transactional bank account (an account that allows for both transfers and withdrawals) to support refunds or chargebacks. Prepaid cards or online-only accounts (such as PayPal) aren’t supported.
Link your bank account
You can link and edit your bank account from your Square Dashboard and from the Square app.
- Sign in to your Square Dashboard and click Settings > Account & Settings > Money > Bank accounts.
- Select Add external bank account.
- Enter your transit number and account number and select the appropriate institution number. This information is usually listed at the bottom of your cheques.
- Select Verify.
If you have multiple locations and have verified multiple external bank accounts to your Square account, you can change the linked bank account for each of your locations. To do so:
- Sign in to your Square Dashboard and select Settings > Account & Settings > Money > Bank accounts.
- Under All locations, select the linked bank account next to the location in question.
- From the drop-down menu, select the verified bank account you want to add to that location. If you do not see the bank account you want to link, select Add external bank account and complete the bank verification process.
- Click Update linked account > Done.
- From the Square app, tap ≡ More > Settings > Account > Bank account.
- Tap Link Bank Account or Change Bank Account.
- Enter your Square account password, and tap Continue.
- Enter your new bank account information and tap Continue > Done.
- Check your email for a confirmation from Square, and make sure to select the link within 24 hours to confirm the bank account change.
Edit your bank account
Sign in to your Square Dashboard and select Settings > Account & Settings > Money > Bank Accounts.
Select Add external bank account.
Provide the requested bank account information.
Select Verify.