How to change your bank account on Square
To change the bank account connected to your Square account, log in to your Square Dashboard, go to Settings, select Business, then Banking, and click Change next to your current bank account. Square will ask you to re-enter your routing number and account number, or you can reconnect through your bank's website using the instant verification method. The change usually takes effect within one business day, though transfers already scheduled will go to your old account unless you cancel them first.
If you're changing accounts because your old one is closing, your new account is at a different bank, or you want to split deposits between multiple accounts, the process is the same. Square does not charge a fee to change your bank account, and you can update it as many times as you need.
Key Takeaways
- You change your bank account through the Square Dashboard under Settings > Business > Banking, not through the mobile app.
- Square accepts your routing and account number, or you can verify instantly through your bank's login if your bank is supported.
- Any transfers already scheduled will still go to your old account, so check your pending transfers before making the change.
- The new account becomes active within one business day, and there is no fee to change it.
- If you cannot access your old bank account or do not remember the routing number, contact Square support with your new account details.
Access the banking settings in your Square Dashboard
Open your web browser and go to squareup.com. Log in with your email and password. Once you are in the Dashboard, look for the gear icon in the top right corner and click Settings. From the menu on the left, click Business, then scroll down and click Banking.
You will see your current bank account listed with the last four digits of the account number. Next to it is a Change button. Click that button to start the process. Square will not let you change your account from the mobile app, so you must use a computer or tablet with a web browser.
Enter your new bank account information
Square will ask you to enter your new bank's routing number and your account number. You can find both on a check from your new account, or you can log into your bank's website and look for account details. The routing number is a nine-digit code that identifies your bank; the account number is unique to your account at that bank.
Type both numbers carefully. If you enter them wrong, Square will reject the change and ask you to try again. If you are not sure which number is which, your bank's customer service line can tell you in seconds.
Alternatively, if your bank is on Square's supported list, you can click Connect with your bank and log in to your bank's website directly. Square will verify your account instantly without you having to type the numbers. This method is faster and has fewer errors.
Confirm the change and wait for activation
After you enter your account details, Square will show you a summary of the new account. Check that the routing number and the last four digits of the account number are correct. If they are, click Confirm or Save. Square will send you an email confirming the change.
The new account becomes active within one business day. During that time, do not close your old account or remove it from other services. Any transfers Square scheduled before you made the change will still go to your old account, so you need to watch for those deposits and make sure they arrive.
Check your pending transfers before switching
Before you change your bank account, log into your Square Dashboard and go to Transactions or Transfers (the exact name depends on your account type). Look for any transfers that are scheduled but not yet completed. These will still go to your old account even after you change your banking information.
If a transfer is scheduled for tomorrow or the next day, you have two choices: wait for it to complete and then change your account, or contact Square support to cancel the pending transfer and reschedule it after your new account is active. Canceling and rescheduling takes a few extra days, so it is usually faster to just wait.
What to do if you cannot access your old bank account
If your old bank account is closed, frozen, or you no longer have access to it, you can still change your account on Square. You will not be able to enter the routing number from memory, but you can contact Square support and tell them you want to change your account because your old one is no longer available. Provide your new routing number and account number, and they can make the change for you.
Square support is available through the Dashboard under Help or by phone. Have your new bank account details ready when you contact them. The process takes the same amount of time as changing it yourself, but support can bypass the need to enter the old account information.
Troubleshooting common problems
If Square rejects your routing number or account number, the numbers are likely wrong. Double-check them against your check or your bank's website. Routing numbers are nine digits; if you have fewer or more, you have the wrong number. Account numbers vary in length but are usually ten to twelve digits.
If you entered the numbers correctly but Square still rejects them, your bank may not be in Square's system yet, or there may be a temporary issue with the connection. Wait a few hours and try again. If the problem continues, contact Square support with your account details and ask them to verify the numbers manually.
If your new account is active but you are not seeing deposits, check that the routing number and account number are correct in your bank's records. Sometimes a bank will reject a deposit if the account number does not match what is on file. Contact your bank to confirm the account is set up to receive transfers, then contact Square support to resend the deposit.
Frequently Asked Questions
Can I have Square send money to two different bank accounts?
Square does not split deposits between multiple accounts automatically. You can only have one bank account connected at a time. If you want to send money to two accounts, you would need to transfer funds from one account to another after the deposit arrives, or contact Square support to discuss custom routing options if you have a high-volume account.
How long does it take for my new bank account to start receiving deposits?
Your new account becomes active within one business day of the change. Deposits from transactions that happen after activation will go to your new account. Any transfers already scheduled before you changed your account will still go to your old account.
Do I have to tell my bank that Square is sending me money?
No. Square sends money through the ACH network, which is a standard banking method. Your bank does not need advance notice. However, if you are changing accounts because your old one is closing, make sure your new account is fully open and active before you change it on Square.
What if I change my account by mistake?
You can change it back the same way you changed it the first time. Go to Settings > Business > Banking and click Change again. There is no penalty for changing your account multiple times, and you can do it as often as you need.
Will changing my bank account affect my Square transactions or history?
No. Your transaction history, sales records, and customer data all stay the same. Changing your bank account only affects where Square sends your deposits going forward. Your past transactions and records remain in your account.