Where to find the bank account settings in Square
To change your bank account in Square, log into your Square account on a web browser—the mobile app does not have this option. Go to the Account & Settings menu, usually found in the top right corner or in a sidebar menu. From there, select Banking or Bank Accounts, depending on your Square product (Square for Retail, Square Online, Square Invoices, or Square Cash). You will see a list of any bank accounts already connected to your account.
The exact path varies slightly by which Square product you use, but the Banking section is where all account connections live. If you cannot find it, look for a settings icon (usually a gear) and search for "banking" or "bank account" within the settings menu.
Key Takeaways
- Bank account changes happen in the Banking section of your Square account settings, accessed through a web browser only.
- You can add a new bank account without removing the old one, then switch which account receives deposits.
- Removing an old bank account takes effect when ready, but Square may hold funds in transit for up to five business days.
- If you are changing accounts because of a failed deposit, Square will retry the transfer automatically before you need to act.
- Changing your bank account does not affect your transaction history, customer data, or any active invoices or subscriptions.
Adding a new bank account without removing the old one
Square lets you connect multiple bank accounts to a single Square account. This means you can add your new account first, test that it works, and then remove the old one. Look for an Add Bank Account or Connect Bank Account button in the Banking section.
When you click it, Square will ask you to verify the account using one of two methods: when ready verification through your bank's login (the faster route, usually takes seconds) or micro-deposit verification (Square sends two small deposits to your account, and you confirm the amounts—this takes three to five business days). when ready verification is available for most major U.S. banks. If your bank is not on the list, you will be offered the micro-deposit method automatically.
Once the new account is verified, it will appear in your Banking section with a status of "Active" or "Verified." You can then set it as your primary account for deposits before removing the old one.
Setting which account receives your deposits
After you have added and verified your new bank account, you need to tell Square where to send your money. In the Banking section, look for an option to Set as Primary, Make Default, or Select for Deposits—the exact wording depends on your Square product. Click that option on your new account.
Square will confirm the change and show you when it takes effect. For most Square products, the change happens when ready, and your next deposit will go to the new account. If you have a Square Cash account or Square Invoices, the timing may vary slightly, but the new account will be active within one business day.
You do not have to remove your old account right away. Many people keep it connected for a few weeks to make sure deposits are landing correctly before disconnecting it.
Removing your old bank account
Once you have confirmed that deposits are going to your new account, you can remove the old one. In the Banking section, find the old account and look for a Remove, Delete, or Disconnect button. Click it, and Square will ask you to confirm.
Removing an account takes effect when ready, but this does not affect any deposits already in transit. If Square initiated a deposit to your old account before you removed it, that transfer will still complete. Square typically processes deposits once per business day, so if you remove an account in the morning, any deposit scheduled for that day may still go to the old account.
After you remove an account, Square will not send any new deposits there. If you need to reconnect that account later, you can add it again through the same process.
What happens to deposits already in progress
Square processes deposits on a set schedule, usually once per business day. If you change your bank account after a deposit has already been initiated, that deposit will go to whichever account was set as primary at the time the deposit was sent, not at the time you changed the setting.
For example: if your deposit was scheduled to send at 2 p.m. and you change your bank account at 1 p.m., the deposit will still go to your old account. If you change it at 3 p.m., it will go to your new account. Square does not give you a way to see exactly when the deposit was initiated, so if you are unsure, contact Square Support to confirm where a specific deposit went.
Deposits typically arrive in your bank account within one to two business days after Square sends them. If a deposit fails—because the account is closed, for example—Square will automatically retry it once. If it fails again, you will receive a notification, and you can update your bank account information at that point.
If your bank account information changes but the account stays the same
Sometimes your bank account number or routing number changes even though you are staying with the same bank—for example, if you close a checking account and open a savings account, or if your bank merges with another bank and issues new account numbers. In this case, you should add the new account information rather than trying to edit the old one.
Go to the Banking section, add the new account using the same verification method you used before, set it as primary, and then remove the old account. This ensures Square has the correct routing and account numbers on file. If you try to edit the old account directly and make a mistake, a deposit could fail or go to the wrong place.
If your bank issued you a new debit card but your checking account number stayed the same, you do not need to change anything in Square. Square uses your account number and routing number, not your card number, so the card change does not affect your deposits.
Troubleshooting a failed bank account change
If you added a new bank account and it shows a status of "Pending," "Unverified," or "Failed," the verification did not go through. The most common reasons are: you entered the wrong account number or routing number, your bank does not support when ready verification and the micro-deposits have not arrived yet, or your bank flagged the verification attempt as suspicious.
If when ready verification failed, try again with your bank login credentials. If it fails a second time, switch to the micro-deposit method. If micro-deposits were sent but you have not received them after five business days, check your bank account carefully—they are usually small amounts like $0.01 and $0.02, and they may be straightforward to miss. If you still cannot find them, remove the account and try adding it again.
If you removed your old account and now have no active bank account connected to Square, your deposits will not process. Square will hold your transaction funds temporarily, but you need to add a new account as soon as possible. Log back into the Banking section and add your account again using the same steps.
Frequently Asked Questions
Will changing my bank account affect my transaction history or customer data?
No. Your transaction history, customer list, invoices, and all other data stay exactly the same. Changing your bank account only changes where Square sends your money going forward. You can look back at all past transactions and see which account they were deposited to.
How long does it take for a deposit to go to my new bank account after I change it?
If you change your bank account before Square initiates a deposit, the next deposit will go to your new account within one to two business days of being sent. If you change it after a deposit has already been sent, that deposit will go to your old account, and the new account will receive the following deposit.
Can I have deposits split between two bank accounts?
No. Square sends all deposits to a single primary account. You can only have one active receiving account at a time. If you need to split deposits, you would have to manually transfer money from your primary account to a second account after deposits arrive.
What if my bank account is closed after I connect it to Square?
If your bank account is closed and Square tries to send a deposit to it, the transfer will fail. Your bank will reject it, and Square will retry once automatically. After the second failure, you will receive a notification. At that point, add your new bank account and set it as primary. Square will attempt to deposit your funds to the new account on the next deposit cycle.
Do I need to update my bank account in Square if I get a new debit card from the same account?
No. Square uses your account number and routing number, not your debit card number. A new card from the same account does not require any changes in Square.