Where to find your banking information in Square
Your bank account details live in the Settings section of your Square account, not scattered across multiple menus. On the Square dashboard, click the gear icon in the top right corner, then select Account & Settings. From there, look for Banking or Bank Accounts — the exact label depends on whether you use Square for payments, payroll, or both, but it will be grouped with other financial settings.
If you are using the Square mobile app instead of the web dashboard, tap the menu icon (three horizontal lines) at the bottom right, then Settings, then scroll down to find Banking. The path is slightly different but the information you need is in the same place.
Once you are in the Banking section, you will see your current linked account displayed with the last four digits of the account number and the bank name. This is where you will add a new account or remove an old one.
Key Takeaways
- Access your banking information through Settings > Account & Settings > Banking on the Square dashboard or through the mobile app menu.
- You can add a new bank account without immediately removing the old one, which gives you time to verify the new account works before switching.
- Square will send two small test deposits to your new account within one to two business days; you must confirm the amounts to complete the link.
- If you remove your only linked account, Square cannot deposit your sales revenue, so always have a verified account active before deleting the old one.
- Changes to your banking information take effect for future deposits only — past transactions already sent to your old account will not be redirected.
Adding a new bank account to your Square account
Click the Add Bank Account button in the Banking section. Square will ask for your routing number, account number, and account type (checking or savings). You can find your routing number on the bottom left of any check, or by calling your bank. Your account number appears on the bottom right of a check, or you can log into your bank's website or app to find it.
Enter the information carefully — a single digit wrong will cause the verification to fail. Square will not charge you for adding an account, but the bank itself may flag the incoming test deposits as unusual activity. If that happens, your bank may temporarily freeze the account or ask you to confirm the deposits are legitimate. This is normal and does not mean something went wrong with Square.
After you submit the information, Square sends two small deposits (usually between $0.01 and $0.99 each) to the new account. These are real money that you keep, but they serve as proof that you own the account. You will see them appear in your bank account within one to two business days.
Verifying your new account with the test deposits
Once the test deposits land in your bank account, return to the Banking section in Square and look for the prompt to confirm the amounts. Square will ask you to enter the two deposit amounts exactly as they appear in your bank statement. If you enter them correctly, the account is now verified and active.
If you do not see the deposits after three business days, check your bank account carefully — they may have landed in a different account if you have multiple accounts at the same bank, or your bank may have held them as pending. If you still cannot find them, you can ask Square to resend the deposits, though this will add another one to two business days to the process.
Do not delete or remove your old account until the new one is fully verified and you have confirmed that at least one deposit has successfully landed there. Square will not send deposits to an unverified account, and if your only linked account is removed, your sales revenue has nowhere to go.
Removing your old bank account
Once your new account is verified and active, you can remove the old one. In the Banking section, find the old account in your list and click the delete or remove button (usually represented by a trash icon or an X). Square will ask you to confirm the deletion — this is your last chance to change your mind before the account is unlinked.
Removing an account does not affect deposits that have already been sent to it. If Square sent money to your old account yesterday, that money stays there. The removal only stops Square from sending future deposits to that account. Any pending or scheduled deposits that were already queued for the old account will still go through.
If you are removing the account because the bank closed it or you no longer have access to it, make sure your new account is verified before you remove the old one. If you accidentally delete your only active account, you will need to add and verify a new one before Square can resume deposits.
What happens to deposits during the change
Square deposits your sales revenue on a set schedule — usually daily or weekly, depending on your account settings and deposit speed. If you change your banking information in the middle of a deposit cycle, the deposit that is already in progress will go to whichever account was linked when the deposit was initiated, not the new one.
For example, if your daily deposit is scheduled for 2 p.m. and you change your bank account at 1 p.m., that day's deposit will still go to your old account. The next deposit, on the following day, will go to your new account. This is why it is important to plan the change for a time when you are not expecting a deposit, or to check both accounts for a few days after the switch.
If a deposit lands in your old account after you have already closed it, contact your bank to see if they can redirect it or if you need to retrieve it another way. Square cannot recall a deposit once it has been sent, so the bank is your only option for recovery.
Troubleshooting common problems with banking changes
If your new account will not verify after three attempts, the most common cause is a typo in the routing or account number. Double-check both numbers against your bank statement or your bank's website. Some banks also require you to confirm the incoming deposits in your online banking portal before Square can see them — check with your bank if verification keeps failing.
If you see an error message saying "Account already linked," it means you are trying to add an account that is already connected to a different Square account. One bank account can only be linked to one Square account at a time. If you need to move the account to a different Square business, you will have to remove it from the first account before adding it to the second.
If your deposits suddenly stop arriving after a successful change, your new account may have been flagged by your bank as suspicious. Contact your bank to confirm the account is active and not frozen. You can also check the deposit history in your Square dashboard to see whether Square attempted to send the deposit and whether it was rejected by the bank.
Changing your account for payroll or other Square services
If you use Square for payroll, invoicing, or other services beyond payment processing, those services may have separate banking settings. Payroll deposits, for example, go to the account you specify in the Payroll section, not necessarily the account linked in your main Banking settings. Check each service individually to see whether it has its own banking configuration.
Some Square services will automatically use your primary linked account unless you tell them otherwise. Others require you to set up banking information separately. If you change your main bank account but payroll or invoices are still going to the old account, look for a Banking or Deposit settings option within that specific service.
Frequently Asked Questions
How long does it take for a new bank account to be active on Square?
The test deposits arrive within one to two business days. Once you confirm the amounts, the account is immediately active for future deposits. The entire process usually takes three to five business days from the moment you enter your account information.
Can I have multiple bank accounts linked to Square at the same time?
Yes, you can add multiple accounts and keep them all verified. However, Square will only deposit to one account at a time — whichever one you have set as your primary. You can switch which account is primary at any time, but you cannot split a single deposit between two accounts.
What if I enter the wrong account number and Square sends money there?
Contact your bank immediately and explain that a deposit was sent to the wrong account. The bank may be able to reverse it or retrieve it from the recipient account, but this depends on how quickly you report it and your bank's policies. Square cannot reverse a deposit once it has been sent, so the bank is your only recourse.
Do I need to update my banking information if I switch banks?
Yes. If your old bank closes your account or you move to a new bank, you need to add the new account to Square and verify it before the old account stops working. If you wait until the old account is closed, your deposits will fail and Square will hold them until you provide a valid account.
Will changing my bank account affect my Square transaction history or customer records?
No. Your transaction history, customer list, and all other business data remain exactly the same. Changing your banking information only affects where future deposits are sent — it does not touch any of your sales records or customer information.