Question 1

What is an instant bank transfer?

Accepted Answer

An instant bank transfer is the movement of money from one account to another in a flash. You can expect instant transfers to become available in your account in minutes (or even seconds).

Question 2

What are the benefits of instant bank transfers?

Accepted Answer

Instant bank transfers are a great way to get money from sales into your linked bank account as soon as you make a sale. This will help you manage cash flow for your business by giving you access to cash when you need it.

Question 3

How do I send an instant transfer with Square?

Accepted Answer

Making an instant transfer is as easy as 1-2-3.
Go to Balance in your Square App.
Select “Transfer Instantly.”
That’s it!

Question 4

Are there any transfer limits?

Accepted Answer

Instant transfers require a minimum balance of £15 after Square’s processing and transfer fees, and a maximum transfer size of £3,500. Funds that are not eligible for instant transfers will be sent to the bank account linked to your Square account in one to two business days.

Note: New Square sellers start with a limit of up to £750 per day. As you run and grow your business with Square, a higher daily transfer amount may become available.

Question 5

Do I need to be a Square seller to use Square instant transfers?

Accepted Answer

Yes. When you take payments with Square, you get access to instant transfers. Simply make sales with Square and visit Balance in your Square app to move your money in moments to a linked bank account.

Compare transfer options	Speed	Price
Instant	Instantly on demand into your external bank account.	1.5% of amount
Standard	As soon as the next day into an external bank account. You can also customise your close-of-day schedule.	Free
Manual	Store a balance with Square and initiate transfers on demand.	Free

Get your money right when you need it with Instant Transfers

Stay in control of your cash flow

Standard transfers No fee

Instant transfers 1.5% FEE

Move your money your way