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 (Cash App, Square Invoices, Square Online, or Square for Restaurants all use the same path).
You will see a list of any bank accounts already connected to your Square account. Next to each one, there is an option to edit, remove, or set as default. If you want to add a brand-new bank account instead of editing an existing one, look for an Add Bank Account or Link New Account button on that same page.
Key Takeaways
- You must use a web browser to change your bank account; the Square mobile app does not support this change.
- Navigate to Account & Settings, then Banking or Bank Accounts, to see all connected accounts and edit them.
- Square will ask you to verify the new account by confirming two small deposits (usually $0.01 and $0.02) that appear in your bank statement within one to two business days.
- If you remove an old account, any pending payouts to that account may be delayed or returned, so contact Square support before deleting an active account.
- You can have multiple bank accounts linked to one Square account and choose which one receives each payout.
Steps to add or update a bank account
When you select the option to add or edit a bank account, Square will ask for your routing number and account number. You can find both on a blank check from your bank, or log into your bank's website and look for account details. Enter both numbers exactly as they appear—even one digit wrong will cause the verification to fail.
After you submit the numbers, Square will send two small test deposits to your bank account within one to two business days. Check your bank statement for these deposits; they will be labeled with a code (usually something like "SQUARE VERIFY" followed by numbers). Return to Square's banking settings and enter those two amounts. Once you confirm them, the account is verified and ready to receive payouts.
The entire process usually takes three to five business days from start to finish, depending on how quickly your bank processes the test deposits. If your bank is slow to post deposits, verification can take up to a week.
What happens to payouts when you change accounts
If you change your bank account while a payout is already in progress, that payout will go to the old account, not the new one. Square processes payouts on a set schedule—usually daily or weekly, depending on your account type—and once a payout has been initiated, it cannot be redirected.
If you remove an old bank account from your Square account before a pending payout arrives, the payout may be returned to Square and held temporarily. Contact Square support with your payout date and amount so they can help you either reroute it to your new account or reissue it. Do not delete an old account if you know a payout is scheduled to land there within the next few days.
Setting a default account for multiple bank accounts
You can link more than one bank account to your Square account. If you have multiple accounts connected, Square will send all payouts to whichever account is marked as default. To change which account is default, go back to Banking settings, find the account you want to use, and select Set as Default or a similar option.
This is useful if you have a business checking account and a personal account, or if you want to split payouts between two accounts. However, Square does not allow you to split a single payout between two accounts—each payout goes entirely to one account or the other.
Troubleshooting verification failures
If the two test deposits do not appear in your bank account after three business days, the routing or account number you entered may be wrong. Log back into Square's banking settings and double-check both numbers against your bank statement or your bank's website. A single digit error will cause the deposits to fail.
If the numbers are correct but the deposits still have not arrived, your bank may be rejecting them. This sometimes happens with accounts that have fraud holds, are newly opened, or are flagged for other reasons. Contact your bank and ask if they are blocking deposits from Square. If they are, you may need to call your bank's fraud department to whitelist Square's routing number.
If you have entered the test deposit amounts incorrectly, Square will reject them and ask you to try again. The amounts must match exactly—if the deposits were $0.01 and $0.02, you must enter them in that order, not reversed or rounded.
Removing an old bank account safely
To remove a bank account from your Square account, go to Banking settings, find the account, and select Remove or Delete. Square will usually ask you to confirm the removal and may warn you if a payout is pending to that account.
Before you remove an account, make sure no payouts are scheduled to land there in the next week. If you are unsure, contact Square support and ask when the next payout is scheduled and which account it will go to. Once you remove an account, Square cannot redirect payouts that were already initiated to that account—they will be returned and you will have to request a reissue.
Frequently Asked Questions
Can I change my bank account on the Square mobile app?
No. You must use a web browser to change, add, or remove bank accounts. Open Square's website, log in, and go to Account & Settings to make any changes to your banking information.
How long does it take for a new bank account to be verified?
Verification usually takes three to five business days. Square sends two small test deposits to your bank within one to two business days, and you then confirm the amounts in your Square settings. Once confirmed, the account is active immediately.
What if I enter the wrong routing or account number?
The test deposits will fail and you will not be able to verify the account. Go back to your banking settings, correct the numbers, and Square will send new test deposits. Make sure both numbers match exactly what appears on your check or your bank's website.
Can I have payouts go to two different bank accounts?
You can link multiple accounts and choose which one is default, but each individual payout goes to only one account. You cannot split a single payout between two accounts. If you want payouts to alternate between accounts, you would need to manually change the default account before each payout cycle.
What happens to a payout if I delete the bank account it was supposed to go to?
The payout will be returned to Square and held temporarily. Contact Square support with the payout date and amount, and they can help you reroute it to your new account or reissue it. This is why you should not delete an account if a payout is scheduled to land there within the next few days.