Hi everyone! I'm Justin and I work on our Deposits team. I wanted to give you a heads up about a back-end change going into effect: Friday night deposits will now be sent Sunday night. As you've probably noticed, when you take payments on Friday, your funds usually don't arrive in your bank account until Monday (or Tuesday, if Monday is a bank holiday). At 8pm PT on Friday, Square bundles up your payments through 5pm PT, and sends them out to your bank (except if you've selected a later Close of Day or use Scheduled Deposits). However, because it’s the weekend, your money can be stuck in transit from Friday evening until it arrives in your bank account by Monday. To address this, your Friday payment balance will be sent out Sunday night instead of Friday night. Don’t worry, your funds will still reach your bank account by Monday morning as usual (or Tuesday, if Monday is a bank holiday). If you have any comment or questions, please send me a message (make sure you're signed in before clicking)!
