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Next Business Day Deposit

Next Business Day Deposit


After you activate your Square account and
link a bank account, deposits are automatically sent per our standard Next Business Day schedule. Funds are sent automatically the evenings
before weekdays (that’s Sunday through Thursday) and will arrive in your linked bank account
in one to two business days. By default, your close of day is 5 p.m. Pacific
Time. Any payments after 5 will come the following day. You can customize your close of day if your
business stays open later and you want to bundle all the day’s payments (including
those after 5) into a single deposit. To do so, Sign in to your online Square Dashboard, click Account & Settings, and then Deposits. Under Deposit Schedule, click a day of the
week from the table. Select a Close of Day time. It’s recommended that you set your close
of day one hour after your actual closing time to provide a window for last minute sales. Confirm your Deposit Type, you can also apply
these settings to every day of the week. and click Save. The big question is how Deposit Type and Close
of Day will affect when you get your money. If you haven’t changed your close of day from
the default 5 p.m. Pacific Time Payments taken before 5 will be available in your bank account
the next business day. Payments taken after 5 will be available in
your bank account by the second business day. And payments accepted after 5 on Thursday
will post to your bank account Monday morning, (depending on your bank’s processing speeds). Because banks only accept deposits on weekdays,
we only send deposits the evenings before weekdays Sunday through Thursday. With our Next Business Day schedule and a
customized close of day. If you choose a close of day time, before
5 p.m., pacific time 8pm eastern time, your days sales will still be available in your bank account the next business day. If you choose a close of day time after 5
p.m. pacific time 8 p.m. eastern time, your deposit will be delayed
one business day and you should receive your deposit two business days later (weekends
and holidays excluded). If you need to get your money sooner, for
1% of the deposit amount, you can use Instant Deposit to
get your funds immediately or Scheduled Deposit to get
them 15 minutes after you close.

Comments (2)

  1. why do you explain how to do a schedule however you dont explain how to just do it without a scehedule

  2. Next Business Day Deposit Schedule

    What’s in this article?

    Weekend Balance

    With Square’s standard deposit schedule, deposits are initiated Monday – Thursday evening for payments taken Monday – Thursday and will arrive in your linked bank account in one to two business days. Payments taken on Friday will be sent Sunday night and will arrive in your bank account on Monday (or Tuesday if Monday is a bank holiday).

    https://squareup.com/help/us/en/article/5438

    After you activate a Square Point of Sale account and link a bank account, deposits are automatically sent per our Next Business Day schedule. Square will group and send payments based on the time you choose to end your day. By default, your close of day is 5 p.m. PT/8 p.m. ET, but you can customize your close of day if your business stays open later.

    To get your funds faster, you can also link a debit card to use Instant Deposit or Same-Day Deposit. Learn more about your deposit schedule options.

    With our Next Business Day schedule and default cutoff times:

    Payments taken before 5 p.m. PT/8 p.m. ET will be available in your bank account the next business day. Payments accepted on Friday before 5 p.m PT will post to your bank account by Monday morning (depending on your bank’s processing speeds).

    Payments taken after 5 p.m. PT/8 p.m. ET will be available in your bank account by the second business day.

    Deposits are not sent on Saturdays.https://squareup.com/help/us/en/article/5438

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