Direct deposit

[Mary23]

I tested this with 1$ it didn't take the 1$ out of my account but sat within the app. Why did it not transfer into my account I wanted it to go in and why did it not take out of other account? 

[Faith4nailtech]

Hello Mary, if you did it today, it won't go in until tomorrow.

[Mary23]

Well I did automatic deposit for same day so how does the same day work? 

[Ria]

Hi @Mary23 - Great Question.

Here's what you need to know about Same Day Transfers

Same-Day Transfer: The Facts

• Timing: Your funds will be sent directly to your bank account at 5:15 p.m. PT/8:15 p.m. ET or 15 minutes after your close of day time. You’ll receive an email notification once your funds have been sent to your bank account. Funds that are not eligible for same-day transfer will be sent to your linked bank account in one to two business days.

• Fees: Same-day transfers cost a 1.5% fee per transfer, in addition to Square’s processing fees.

• Flexibility: You can set same-day transfer as your default transfer option for any day of the week – even weekends.

• Limits: To use same-day transfer, you must have a minimum balance of $1 after Square’s fees. You can send payments as large as $10,000. If your daily balance exceeds $10,000, you’ll receive multiple transfers from Square. There is one exception: Individual payments greater than $10,000 won’t be sent via same-day transfer or instant transfers. When this occurs, these payments will be sent via next-business-day transfer and will be available within one to two business days to your linked bank account.

If you have any additional question, don't hesitate to reach out. We're more than happy to help.