Where to find the bank account settings in Square

To change the bank account Square sends your money to, log into your Square account on a computer or phone, then go to your Account & Settings. From there, select Banking or Bank Accounts — the exact name depends on whether you're using Square for sales, payroll, or invoicing, but it's always in the main settings menu. You'll see a list of any bank accounts you've already connected.

If you're on your phone, tap the menu icon (three horizontal lines) in the top left corner, then scroll down to find settings. On a computer, look for your profile icon or initials in the top right corner. The banking section shows which account is currently active and when your last deposit went through.

Key Takeaways

  • You reach bank account settings through Account & Settings, then Banking or Bank Accounts, depending on which Square product you use.
  • Square lets you add multiple bank accounts and switch between them, but only one can be active at a time for deposits.
  • You'll need your routing number and account number to add a new bank account, which you can find on a check or by calling your bank.
  • Deposits to a newly added account usually start within one to two business days, though Square may hold the first deposit for verification.
  • If you're removing an old account, make sure the new one is set as active first, or your money will have nowhere to go.

Adding a new bank account to your Square account

Click or tap the button that says Add Bank Account or Link New Account. Square will ask you to enter your bank's routing number and your account number. Your routing number is a nine-digit code that identifies your specific bank branch; your account number is unique to you. Both appear on the bottom left of any check you write, or you can call your bank's customer service line and ask for them.

After you enter these numbers, Square connects to your bank to verify they're correct. This usually takes a few minutes, but sometimes Square asks you to confirm two small deposits (usually under one dollar each) that appear in your account within a few days. Once you confirm those amounts, the account is fully linked.

Switching which account receives your deposits

Once you have more than one bank account linked, you can choose which one is active. Go back to the Banking section and look for the account marked as Primary or Active. Click or tap on the account you want to use instead, then select Make Primary or Set as Active. Your next deposit will go to that account.

Square doesn't charge you to switch accounts, and you can change it as often as you need to. However, only one account can be active at a time. If you switch accounts on a day when a deposit is scheduled, that deposit goes to whichever account was active when the deposit was processed, not when you made the change.

What happens to deposits after you change accounts

Deposits that were already scheduled before you switched accounts will still go to the old account. Square processes deposits on a set schedule — usually daily or weekly, depending on your account type and sales volume. If you changed your account yesterday but a deposit was scheduled for today, that money goes to the old account.

To avoid confusion, change your account setting a few days before you expect a large deposit, or check your Square dashboard to see when your next deposit is scheduled. You can also contact Square support to ask them to redirect a deposit that's already in progress, though this isn't always possible once processing has started.

Removing an old bank account

If you want to stop using an old account, go to the Banking section and find that account in the list. Look for a Remove, Delete, or three-dot menu icon next to it. Before you remove it, make sure a different account is already set as active — if you remove your only active account, Square won't know where to send your next deposit.

Square usually lets you remove an account when ready, but some accounts have a waiting period if they're linked to pending deposits or refunds. If you see a message saying you can't remove the account yet, wait a few business days and try again. Once removed, the account is completely disconnected from your Square account.

Troubleshooting common problems when changing accounts

If Square rejects your routing or account number, double-check that you entered them correctly — even one wrong digit will cause the connection to fail. Call your bank if you're not sure which numbers are which. Some banks also use different routing numbers for different branches, so make sure you have the routing number for the specific branch where your account is held.

If you've added the account but deposits aren't going through, check that it's actually set as active. Sometimes the account is linked but not marked as primary, so money keeps going to the old account. If deposits are going to the right account but arriving late, Square deposits usually take one to two business days, but weekends and bank holidays can add time. Contact Square support if a deposit is more than three business days late.

When Square holds your first deposit for verification

The first time you add a new bank account, Square may hold your first deposit for a few days while they verify the account is real and belongs to you. This is a security step to prevent fraud. You'll see a note in your Banking section saying the account is pending verification or under review. During this time, you can still use Square to take payments, but the money won't move to your bank account yet.

Once the verification period ends — usually within one to five business days — your account becomes fully active and deposits resume normally. If you need access to money urgently, you can keep using your old account as active until the new one is verified, then switch over once it's ready.

Frequently Asked Questions

Can I have deposits go to two different bank accounts at the same time?

No. Square only lets one account be active at a time, so all your deposits go to a single account. If you need to split deposits between accounts, you would have to manually transfer money from one account to another after deposits arrive, or contact Square support to discuss other options for your specific situation.

How long does it take for a new bank account to start receiving deposits?

Once you've added the account and Square verifies it (which usually takes a few minutes to a few days), deposits go there starting with your next scheduled payout. That payout typically arrives one to two business days after Square processes it. If Square holds your first deposit for verification, add another two to five business days.

What if I enter the wrong bank account number by mistake?

If you haven't set it as active yet, just remove it and add the correct account. If you already switched to it and deposits have gone there, contact Square support right away. They can sometimes redirect deposits or help you recover money sent to the wrong account, but the sooner you report it, the better your chances.

Do I need to tell Square I'm changing accounts, or does it happen automatically?

It happens automatically once you set the new account as active. You don't need to call or email Square unless something goes wrong. However, if you're changing accounts because of a problem with the old one (like it's closed), let Square know so they can help troubleshoot or make sure deposits don't get stuck.

Can I change my bank account if I have pending refunds or chargebacks?

Usually yes, but Square may temporarily prevent you from removing the old account if there are active refunds or disputes tied to it. Wait until those are resolved, then remove the old account. You can add and switch to a new account right away — the old one just stays linked until the pending items clear.