How to change your bank account on Square
You can change the bank account linked to your Square account through the Square Dashboard on a computer or through the Square app on your phone. The process takes about five minutes and doesn't require you to close your account or start over. Square will stop depositing money to your old account and begin depositing to the new one within one to two business days after you make the change.
The steps differ slightly depending on whether you're using the web dashboard or the mobile app, but both routes lead to the same result. You'll need your new bank account number and routing number ready before you start. If you don't have your routing number, your bank can provide it, or you can find it on a check from that account.
Key Takeaways
- You can update your bank account information from the Square Dashboard (on a computer) or the Square app (on your phone) without closing your account.
- Have your new bank account number and routing number ready before you begin the change.
- Square will stop deposits to your old account and start deposits to your new account within one to two business days.
- If you're changing accounts because of fraud or a compromised account, contact Square support when ready rather than waiting for the automatic switch.
Changing your bank account through the Square Dashboard
Open the Square Dashboard on a computer and sign in with your email and password. Click on your account name or profile icon in the top right corner, then select "Account Settings" or "Settings" from the menu that appears.
Look for a section labeled "Banking" or "Bank Account" — the exact label varies slightly depending on your account type. Click on the bank account that's currently linked. You'll see the last four digits of your current account number displayed. Click "Edit" or "Change Bank Account" next to it.
Enter your new bank account number and routing number in the fields provided. Double-check both numbers before proceeding, because an incorrect routing number will cause deposits to fail. Click "Save" or "Update," and Square will confirm the change. You should receive an email confirmation within a few minutes.
Changing your bank account through the Square app
Open the Square app on your phone and tap the profile icon or menu button (usually three horizontal lines) in the bottom right or top left corner. Select "Account Settings" or "Settings."
Tap "Banking" or "Bank Account" to view your current linked account. Tap the account itself or look for an "Edit" button next to it. You'll be prompted to enter your new bank account number and routing number.
Enter both numbers carefully, then tap "Save" or "Confirm." The app will send you a confirmation message. If you don't see a confirmation within a few minutes, go back to your account settings and verify that the change went through.
What happens during the transition period
Square doesn't when ready stop using your old account. Any deposits that were already scheduled or in process will still go to your old account. Deposits initiated after you make the change will go to your new account. This means you may see deposits to both accounts for a day or two.
If you're closing your old bank account, wait at least three business days after making the change in Square before closing it. This gives Square time to complete any pending deposits and ensures you don't accidentally reject a transfer. If you close the account too early, Square's deposit may bounce, and you'll have to contact Square support to resubmit it.
If you need to change your account urgently
If your bank account has been compromised, you've detected fraud, or you need to change accounts for a security reason, don't wait for the automatic process. Contact Square support directly through the Square Dashboard or app. Go to "Help" or "Support," then select "Contact Us." Explain that you need to change your bank account for security reasons.
Square support can prioritize your request and may be able to stop deposits to your old account faster than the standard process. They can also help if you've already closed your old account by mistake or if a deposit was rejected. Response times vary, but Square typically replies to support requests within 24 to 48 hours.
Common problems and how to fix them
If you see an error message saying your routing number is invalid, verify the number with your bank. Routing numbers are nine digits and specific to each bank branch. If you copied it from a check, make sure you didn't accidentally include a space or extra character. Some banks have multiple routing numbers depending on the type of account or the state where it's held.
If your deposit is rejected after you change accounts, Square will send you a notification. This usually means the routing number or account number was entered incorrectly, or your new bank rejected the transfer for another reason. Go back into your account settings, verify both numbers, and try again. If the problem persists, contact your bank to confirm they're accepting ACH transfers from Square.
If you changed your account but deposits are still going to your old account after three business days, check your account settings to confirm the change was actually saved. Sometimes the page appears to save but doesn't process the change. If it shows your old account is still linked, repeat the process. If it shows your new account is linked but deposits aren't arriving, contact Square support.
Frequently Asked Questions
Can I have deposits go to two different bank accounts at the same time?
No. Square only allows one linked bank account per account at a time. If you need to split deposits between two accounts, you'll have to manually transfer money from your Square account to the second bank account after deposits arrive, or contact Square support to discuss other options for your specific situation.
Will changing my bank account affect my Square transactions or history?
No. Your transaction history, customer records, and all other account data stay exactly the same. You're only changing where the money gets deposited. Your Square account number and all your settings remain unchanged.
What if I accidentally entered the wrong bank account information?
Go back into your account settings and update it again with the correct information. If a deposit already went to the wrong account, contact that bank to see if they can reverse it. Then contact Square support with proof of the error, and they can help you resubmit the deposit to the correct account.
How long does it take for deposits to start going to my new account?
Square typically begins deposits to your new account within one to two business days. However, any deposits that were already scheduled before you made the change will still go to your old account. If you don't see deposits to your new account after three business days, verify the account information in your settings and contact Square support.