Square lets you accept card payments on your phone, tablet, or computer, and you can start processing within hours of signing up

Square is a payment processor that works through a mobile app, a web dashboard, or a physical card reader. You create an account online, connect a payment method (usually a bank account), and then either use Square's free app on your phone or buy one of their card readers to start taking payments. There is no monthly fee — you pay only when you process a transaction, typically 2.6% plus 10 cents per card payment, though rates vary depending on which Square product you choose.

The signup process itself takes about 10 minutes. You will need a valid email address, a phone number, and basic business information. Square will ask for your Social Security Number or EIN and a bank account where deposits will land. Most accounts are reviewed and approved within one business day, though some take longer if Square needs more information about your business.

Key Takeaways

  • You sign up at square.com or through the Square app, provide your email and business details, and Square reviews your account within one business day in most cases.
  • Square charges 2.6% plus 10 cents per card transaction with no monthly fee, though rates are lower for in-person payments with their card reader.
  • You will need a valid bank account to receive deposits, and Square deposits funds daily or weekly depending on your account type.
  • Once approved, you can start taking payments when ready using the free mobile app, a web link, or a physical card reader you can purchase or rent.

What you need before you start

Have your email address, phone number, and a valid bank account ready. Square will deposit your payments into this account, so it needs to be in your name or your business name. You will also need either your Social Security Number (if you are a sole proprietor) or your EIN (if you have an LLC or corporation).

If you are signing up as a business rather than an individual, have your business name, address, and the type of business you run. Square asks this to verify your account and assess payment processing risk. If you are a sole proprietor, you can use your personal address.

The signup process step by step

Go to square.com/signup or read the Square app and tap "Create Account." Enter your email address and create a password. Square will send a verification code to your email — enter it to confirm.

Next, provide your full name, phone number, and date of birth. Then enter your business name and the type of business (retail, restaurant, services, etc.). Square uses this to route you to the right tools and to understand your payment patterns.

Enter your bank account number and routing number. This is where Square will deposit your payments. You will need to verify this account — Square typically sends two small deposits (usually under $1 each) to your bank account within one to two business days, and you will need to confirm the amounts in your Square account to prove you own the account.

Provide your Social Security Number or EIN, your address, and the last four digits of your phone number. Square uses this information to verify your identity and check for fraud. Review the terms of service and pricing, then submit your process.

How long approval takes and what happens next

Most accounts are approved within one business day. You will receive an email confirming your account is active and ready to use. Some accounts take longer — Square may ask for additional information like a photo of your ID, proof of address, or details about your business model if they need to assess risk more carefully.

Once approved, you can start taking payments when ready. If you are using the free mobile app, you can begin accepting card payments right away on your phone. If you ordered a card reader (Square Reader, Square Terminal, or another device), it will ship to you, and you can start using it as soon as it arrives.

Your first deposit usually lands in your bank account within one to two business days after your first transaction. After that, Square deposits funds on a schedule — daily for most accounts, or weekly depending on your account type and payment volume.

Different ways to take payments with Square

The Square app is free and works on any smartphone or tablet. You key in the payment amount, the customer taps or inserts their card on your phone screen, and the payment processes. There is no hardware to buy. The rate is 2.6% plus 10 cents per transaction.

The Square Reader is a small card reader you plug into your phone's headphone jack or connect via Bluetooth. It costs around $29 to $49 depending on the model. When a customer inserts or taps their card, the reader encrypts the data and sends it to Square. The rate is 2.5% plus 10 cents for in-person card payments, which is slightly lower than the app-only rate.

The Square Terminal is a standalone device that looks like a traditional payment terminal. It costs around $299 upfront and has a built-in screen, printer, and card reader. You do not need a separate phone or tablet. Rates are the same as the Square Reader: 2.5% plus 10 cents for in-person payments.

The Square Online dashboard lets you send payment links via email or text, or embed a payment form on a website. Customers click the link and enter their card details. The rate is 2.9% plus 30 cents per transaction.

What happens if Square declines your account

Square may decline your account if they cannot verify your identity, if your business type is considered high-risk (like gambling or adult services), or if you have a history of chargebacks or fraud. If your account is declined, Square will send you an email explaining why.

You can appeal the decision by responding to the email with additional information — a photo of your ID, a business license, proof of address, or an explanation of your business model. Some appeals succeed; others do not. If Square will not reconsider, you can look into other payment processors like Stripe, PayPal, or Clover, which have different underwriting standards.

Fees and what they cover

Square charges per transaction, not per month. The standard rate for online payments and app-based card entry is 2.6% plus 10 cents. In-person payments with a card reader are 2.5% plus 10 cents. Keyed-in card payments (where you manually type the card number) are 3.5% plus 15 cents and carry higher fraud risk.

These fees cover payment processing, fraud protection, and customer support. Square does not charge setup fees, monthly fees, or early termination fees. You pay only when you process a transaction.

If a customer disputes a charge or requests a refund, you can issue a refund through your Square dashboard at any time. Refunds typically land back in the customer's account within one to three business days, depending on their bank. You do not pay a fee to issue a refund, but you do not get the original processing fee back either.

Frequently Asked Questions

How long does it take to get my first deposit?

Your first deposit usually arrives one to two business days after your first transaction processes. After that, Square deposits funds on a regular schedule — daily for most accounts, or weekly if you have a newer account or lower transaction volume. You can check your deposit schedule in your Square dashboard under Settings.

Can I use Square if I do not have a business license?

Yes. Square works for sole proprietors, freelancers, and individuals without a formal business entity. You will sign up under your personal name and provide your Social Security Number instead of an EIN. Square still needs to verify your identity and assess your payment patterns, but you do not need a business license to open an account.

What if a customer disputes a charge?

The customer can contact their bank to dispute the charge, or they can contact you directly to request a refund. If you issue a refund through your Square dashboard, it typically reaches their account within one to three business days. If the customer disputes through their bank instead, Square will investigate and may ask you for proof that the transaction was legitimate (like an order confirmation or receipt).

Can I use Square on multiple devices?

Yes. You can log into your Square account on multiple phones, tablets, or computers. All transactions go to the same account and the same bank deposit. This is useful if you have employees or multiple locations, though Square also offers team management features where you can set different permissions for different users.

What happens if I close my account?

You can close your Square account at any time through your dashboard settings. Any pending deposits will still be sent to your bank account. If you have a card reader or other hardware, you can keep it or return it — Square does not charge a restocking fee. There is no penalty for closing.