Can I accumulate a Square balance and deposit it to my bank account when I'm ready?

[PBHyeg]

The title of this thread has been edited from the original: hold a square balance?

Hi there! I'm new and wondering if I can accumulate a square balance without dumping it to  bank account until I'm ready? We are moving some accounts around and it might be a few weeks so I don't want to do anything right now but I want to get things started. Can I even accept payments without having a linked account? Thanks!

[Tom]

Hey @PBHyeg, welcome to the Seller Community!

Yes—you can accept card payments without linking a bank and the funds will remain in your Square balance until you choose to link an account.

A few resources that you'll want to consider as you go forward:

• Link and Edit Your Bank Account — learn more about deposit options.
• Get Started With Square Card — a business debit card that is connected to your Square balance.

Hope this helps get you where you need to be! Out of curiosity, can you share some more information on why deferring the deposit is helpful for your business? I'd like to share more insight with our Point of Sale team.

Please let me know if you have any further questions. 🙂

[cpathlete]

@Tom Hi, just to add to this question...is there a time limit it can remain there if we choose manual payouts?

Thank you

[isabelle]

Hey @cpathlete-

Thanks for hearing out. 

We don't have a time limit for manual transfers. With a manual transfer schedule, the money you earn will accrue in your Square balance and is available for manual transfers in Balance overview at the time of your choosing. 

[cpathlete]

@isabelle Thank you!