Where to change your Square for Restaurants bank details
You change your routing and account number in Square for Restaurants through the Dashboard under Settings, not by calling Square or visiting a branch. The change takes effect when ready in the system, but the actual bank transfer of any pending payouts may take longer depending on your bank's processing time.
Log into your Square Dashboard on a computer (the mobile app does not have this function). Go to Settings, then select Payouts. From there, you will see your current bank account listed. Click the option to edit or change the account — the exact label varies slightly depending on whether you are adding a new account or replacing an existing one.
Square will ask you to re-enter your routing number and account number. Have your bank statement or a blank check in front of you. The routing number is the nine-digit code at the bottom left of a check; the account number is the longer code to its right. If you are unsure, call your bank directly — they will confirm both numbers in under a minute.
Key Takeaways
- You update your bank details through the Square Dashboard under Settings > Payouts, not through any other method.
- Your routing number (nine digits) and account number (usually 10 to 12 digits) must match exactly what your bank has on file, or the payout will fail.
- The change takes effect in the system when ready, but any payout already scheduled may still go to your old account if it has already been processed by Square's bank.
- If a payout goes to the wrong account by mistake, contact your bank first — they can sometimes reverse it within 24 hours if the receiving bank cooperates.
What happens to payouts already in progress
If you update your bank details and a payout is already scheduled or processing, that payout will likely still go to your old account. Square's system sends payout instructions to your bank on a set schedule — usually daily — and once that instruction is sent, changing your details in the Dashboard does not stop it.
Check the Payouts section of your Dashboard to see the status of any pending transfers. If a payout shows as "pending" or "in progress," it will go to whichever account was on file when Square sent the instruction to your bank. Only payouts that have not yet been sent to your bank will use the new account number.
For this reason, update your bank details as soon as you know the old account is closing or no longer valid. The sooner you make the change, the fewer payouts will go to the wrong place.
Timing: when the new account receives money
After you update your routing and account number in Square, the next payout cycle will use the new account. Square typically initiates payouts once per business day, though the exact time depends on your location and Square's processing schedule.
Once Square sends the payout instruction to your bank, your bank then processes it — usually within one to two business days for a standard transfer. If you changed your account on a Friday afternoon, the payout might not be sent until Monday, and then take until Wednesday to appear in your new account.
If you need to know when the next payout is scheduled, check your Dashboard under Payouts. Square shows you the date and time of the last payout and when the next one is expected.
Fixing a payout sent to the wrong account
If money went to your old account by mistake, contact your bank when ready — do not wait. Explain that you received a transfer intended for a different account. Your bank can sometimes reverse the transfer within 24 hours if the receiving bank (the one holding the old account) agrees to send it back.
After your bank attempts the reversal, contact Square support through your Dashboard and let them know what happened. Provide the date of the payout and the amount. Square can see the transaction on their end and may be able to help trace it or reissue the payout to the correct account if the reversal fails.
The longer you wait, the harder a reversal becomes. Some banks will not reverse a transfer after 24 to 48 hours have passed, so speed matters here.
Changing your account if your bank is closing or merging
If your bank is closing a branch or merging with another bank, you will receive notice from your bank about what happens to your account. In most cases, your account number and routing number stay the same — the bank straightforward changes its name or consolidates operations behind the scenes.
Contact your bank to confirm whether your routing and account numbers are changing. If they are staying the same, you do not need to do anything in Square. If they are changing, your bank will tell you the new numbers and the date they take effect. Update Square a day or two before that date so the transition is clean.
If you are moving to a completely different bank, treat it the same way: get the new routing and account number from your new bank, update it in Square, and confirm with your new bank that they have received the first test transfer correctly.
Why Square might reject your new bank details
Square validates your routing and account number when you enter them. If the system rejects the information, it usually means one of three things: the numbers do not match what your bank has on file, you have entered them in the wrong order, or your bank does not accept ACH transfers (the electronic method Square uses to send payouts).
Double-check the numbers against your bank statement or by calling your bank directly. Make sure you have not swapped the routing and account number — this is the most common mistake. If your bank has told you it does not accept ACH transfers, you will need to set up a different account at a bank that does, or contact Square support to discuss other payout options.
Some banks also flag transfers from payment processors like Square as unusual activity. If your update is rejected, call your bank and tell them you are expecting regular ACH transfers from Square for Restaurants. They may need to whitelist Square's routing number on their end.
Frequently Asked Questions
Can I have payouts go to two different bank accounts?
No. Square for Restaurants sends all payouts to a single account. If you need to split payouts between accounts, you would have to receive them in one account and then transfer money manually to the second account, or contact Square support to discuss whether a workaround is possible for your situation.
What if I enter the wrong routing number by accident?
Square will attempt to send the payout to the account associated with that routing number and account number combination. If the numbers do not match any real account, the transfer will fail and bounce back to Square. You will see the payout marked as failed in your Dashboard. Update the account information and request that the payout be resent.
How long does it take for a new bank account to start receiving payouts?
The change takes effect in Square when ready, but the first payout to the new account will not happen until the next scheduled payout cycle — usually within one business day. That payout then takes one to two business days to appear in your new account, depending on your bank.
Do I need to tell Square I am closing my old account?
No, but you should update your bank details before closing the account. If a payout arrives after you have closed the account, your bank will reject it and it will bounce back to Square. You will then have to contact Square to reissue the payout to your new account, which adds delay.
Can I change my bank details if I have a pending payout?
Yes, you can change them at any time. However, any payout that has already been sent to your bank will still go to your old account. Only future payouts will use the new account number. Check your Dashboard to see which payouts are still pending.