Transfer's schedule

[Driiven]

Hello all. I have just joined square and would like to know if I need to manually activate a payout to myself or if it is done automatically by square into my bank. If so how long does it take for a payout 

The title of this thread has been edited from the original: Payout

[Lou8 · Accepted solution]

Hi @Driiven, thank you for posting and welcome to the Community 👋.

I am guessing that by payout you mean a transfer to your bank account after you've processed a payment?

Square offers 3 transfer options:

• Automatic / Next working day
• Manual
• Instant ( a 1% fee will be applied)

When you sign up, your transfers are by default set to automatic, which means you do not need to take any actions. If you process a payment before Square’s cutoff time 00:00, the transfer is initiated the following working day around 4pm. For sales that are made after midnight, transfers are initiated in two working days. (Note that we do not send transfers on Saturdays and Sundays). 

For example, if you take a payment on Monday morning, the funds will be deposited to your bank account on Tuesday after 4pm. 

If you'd like to explore other transfer options and learn more about our transfer's schedule, I suggest reading our Support Centre article linked here. 

Don't hesitate to reach back out if you have any questions!

[phillipsrw]

@Driiven I would recommend doing a test purchase for £1 just to make sure everything is running smoothly and as you would like.

[Davidmac]

Keep an eye on account to make sure payments come in. If your account says under review or suspended, call square right away.