Set Up and Manage Instant Transfers
For faster access to your money, initiate instant transfers from the Square app or from your online Square Dashboard. You can instantly send up to $5,000 per transfer 24 hours a day, seven days a week. There is no limit to the number of instant transfers you can initiate in a given day.
Important to note
Your minimum balance must be $25 for instant transfers after Square’s processing and transfer fees.
New Square sellers start with a limit of one instant transfer per day of up to $500. As you run and grow your business with Square, a higher daily transfer amount may become available.
Instant transfers may not be available for sellers using Square APIs until they have sufficient account history.
Instant Transfers Pricing
Instant transfers cost a 1.5% fee per transfer, in addition to Square’s standard card processing fees. Any balance not transferred instantly will be sent according to your normal transfer schedule.
Note: Instant transfer cost is not reimbursed when you earn Free Processing.
Set Up Instant Transfers
Once you’ve linked your debit card from the app or your Dashboard, learn about sending instant transfers.
From the Square App
From the navigation menu, tap ≡ More.
Tap Settings > Account > Transfers.
Key in the required debit card information.
Tap Link.
Verify your debit card via the email sent to the address associated with your Square account.
Note: Only physical Canadian debit cards with Visa Debit or PLUS network support can be linked to your Square account at this time.
From your Dashboard
Visit Balance > Transfer Settings in your online Square Dashboard.
If you have an eligible pending transfer, click Transfer Now and enter and save your debit card information.
Square will send an email to the address associated with your Square account. If linking a debit card, click the verification link in this email to confirm within 24 hours of receiving it. If you can’t find the email, check your spam/junk folder or resend the email from Transfer settings > Transfers.
Note: Before you’re able to set up instant transfers, you’ll need to have a debit card linked to your Square Account.
Edit Your Linked Debit Card
From the Square App
From the navigation menu, tap ≡ More.
Tap Settings > Account.
Tap Transfers > Change Account under Instant transfers.
Key in your bank information.
Tap Link.
Verify your debit card via the email sent to the address associated with your Square account.
From the Square Dashboard
Go to Balance > Transfer Settings in your online Square Dashboard.
Click Change Account.
Enter and save your debit card information.
Verify your debit card via the email sent to the address associated with your Square account.
Send Instant Transfers
Before using instant transfers, make sure you’ve confirmed your debit card is linked and verified from Transfer Settings > Transfers in your online Square Dashboard. Instant transfer fees display under Instant Transfer in your online transfer summaries.
If your Square balance is below $25 (after fees), instant transfers will not be available. You’re able to instantly transfer payments in an amount of up to $5000 at one time.
If you run into any trouble with instant transfers, try these troubleshooting steps.
Note: Only physical Canadian debit cards with Visa Debit or PLUS network support can be linked to your Square account at this time.
From the Square App
Tap Transactions > Instantly Transfer.
You’ll see an in-app transfer confirmation and receive a confirmation email.
You can also send and track your instant transfers from your Balance tab of the Square app:
From the navigation menu, tap ≡ More.
Tap Balance > Instantly Transfer.
From the Square Dashboard
There are three ways to initiate an instant transfer from your Dashboard:
From your Home page, click Transfer Now > Transfer Now.
From Balance, click Transfer Now.
From Transfer Settings > Transfers, click Transfer Now, located under instant transfer.
Supported Debit Cards
The following Canadian banks issue Visa or PLUS debit cards:
CIBC
TD Bank
Scotiabank
Royal Bank of Canada
Tangerine
ATB
ICICI
Learn more about Visa debit cards on the Visa website.
Instant Transfer Reports
See your entire transfer history, including instant transfers, by visiting Balance > Transfer Reports in your online Square Dashboard. Click each transfer to see its details. If you have a Square Card, visit Balance > Activity.
To review your transfer report in the Square Point of Sale app:
From the navigation menu, tap ≡ More.
Tap Balance.
Tap View all activity.
Want to learn more? Check out the instant transfer FAQ.