x

How long does it take to verify a new bank account?

How long does it take for square to verify a new bank account that you added?

Message 1 of 54
29,316 Views
1 Best Answer
Alumni

Best Answer

It can take up to four business days to verify your bank account (excluding weekends and holidays). You can check the status of the verification in your Square Dashboard.

 

Go to the Account & Settings section and click Bank Account. You'll also receive an email from Square when your account is verified.

 

See our support article for more details. Hope that helps!

View Best Answer >

Message 2 of 54
41,415 Views
53 REPLIES 53
Alumni

Best Answer

It can take up to four business days to verify your bank account (excluding weekends and holidays). You can check the status of the verification in your Square Dashboard.

 

Go to the Account & Settings section and click Bank Account. You'll also receive an email from Square when your account is verified.

 

See our support article for more details. Hope that helps!

View Best Answer >

Message 2 of 54
41,416 Views

Thanks for the info. There isn't enough in my account, I think, as verification was denied.

If I use Square at a flea market on Saturday, it may have enough sales to make my bank account positive, but how would i shift from Square? Thanks!
Message 3 of 54
27,822 Views
Square

In order for bank account verification to complete, you will need to have at least $1.00 in your bank account. At the start of the verification process, we will send a debit and credit of 49¢ to make sure that we can communicate with your back, if the debit hits your account before the credit your bank verification can fail because we will not be able to debit the 49 cents. 

Message 4 of 54
27,812 Views

I added my bank account and received a message that it has been verified but I still keep getting a message to add my bak account. I do not yet see a .49 debit and credit.

Message 5 of 54
25,902 Views
Square

@cguchek - Sorry to hear about the trouble! While the community is a great place for getting advice from other sellers and finding the answer for general questions, for account specific ones, we'll want to keep things private. If you can give us a call, we'd be happy to confirm some things. 


Sean
he/him/his
Product Manager | Square, Inc.
Message 6 of 54
25,896 Views

The same thing happened to me. I got an email that it was verified, but when I login it still says I need to link my bank account. What gives? What does that mean?

Message 7 of 54
23,291 Views
Admin

Hey @Jessebstrees, welcome to the seller community and sorry to hear about the trouble with getting your bank account linked.

 

That does sound strange that you got the verification to your email but you get that message when you sign in to your account. 🤔

 

Any chance you have multiple email addresses? If so, you might want to try signing out/in with each one. If that doesn't clear things up — let our Support Team know and they'll take a deeper dive into your account ASAP.

Tom [he/him]
Seller Community Manager | Square, Inc.
Find step-by-step help in our Support Center
Message 8 of 54
23,247 Views

After reading a majority of the posts, is it feasible since I didn't put "LLC" on the end that my bank couldn't be verified? I work with a major bank, I had enough funds, but the bank account still wasn't verified. I don't want it to lapse another 5 days and not have someone to talk to in order to get this complete.

Message 9 of 54
25,911 Views
Square

@ana - The routing and account number are really the key to this process. I'd suggest reaching out to your bank to insure you're using the best routing number for ACH deposits. Most large banks have multiple routing numbers to provide. 


Sean
he/him/his
Product Manager | Square, Inc.
Message 10 of 54
25,904 Views

Hello -- I think it'd be helpful to have an in-app reminder about the "Action Required" confirmation email that follows when a customer submits new bank account information. I missed it and sat on the email for a while... My mistake ultimately, but another heads up would've been nice. 

Message 11 of 54
10,234 Views
Square

@gailscaribb That would definitely be a useful reminder for Sellers! I'll send that request over to our Product Team and thanks for the feedback!

Message 12 of 54
9,497 Views

I have a interesting issue. In the process of closing one account and switching banks. I added the new account 2 days ago, which is pending verificatoin, however, accepted payments yesterday that were deposited into the old account today. Both locations are set to use the new, pending account, which I was to believed via the knowledge base that the deposits would be held until verification is completed and deposited into the new account. Hoping the deposit can be reversed and payment accepted today will hold until the new account I verified. Can this be confirmed?

Message 13 of 54
8,514 Views
Square

@jasenhudson - When you're linking a new account, deposits will still be sent to the existing bank account. The only way to avoid this is to give us a call and have us manually un-link the old one. If a deposit has already been sent, you'll want to coordinate with your bank to help withdraw or transfer those funds. Hope this helps! 


Sean
he/him/his
Product Manager | Square, Inc.
Message 14 of 54
8,508 Views

I called you guys almost everyday stating 1/25/2017 except weekend.  Sent out email, no respond.  I have a bank account requested link since 1/18/2017 & still not verified as 1/31/2017.   I talked to one of your support yesterday and saying that it pass thru yesterday 1/29/2017.  The date shows on my account it will verify 1/31 & it has been saying that starting 1/25, 1/26, 1/27, 1/28, 1/29, 1/30, 1/31.  What's next 2/1/2107 & so on? Why I'm saying this?  This is because I checked my account everyday. I contacted your support last week thru this site cause it says recommended rather than calling & no response from there.   My bank shows deposit $0.01,  & withdrawal $0.01 from square and nothing is pending cause I talked to my bank.  Whats the hold up? its not 5 biz like it said.

Message 15 of 54
8,254 Views
Square

Sorry to hear about the trouble, @beez. Unfortunately we can't look into your account specific issue here in the Seller Community as it's a public site. If you need further assistance with you bank account, you'll need to contact our Support team directly.  

 

That being said, that is correct that the bank verification can take 5 business days to complete. Another thing to keep in mind is that if you've reentered the info at any point, it will start the process over. If there have been several attempts, it is five business days from the last one. 

Message 16 of 54
8,249 Views

Once the communication charges have been sent and completely processed through my bank account, how long should it take to finish the verification process? After everything has cleared my bank, isn't that "verified?"

Message 17 of 54
8,244 Views
Square

Hi @Mattbuffy814, sorry you haven't received a response on your question yet. It full process can take five business days, even once you've seen the deposit/withdrawal on your account. Check out the article George posted in his response, thanks!

Message 18 of 54
8,202 Views

What is the minimum time your bank account can be verified?

Message 19 of 54
8,196 Views
Square

@Toya - Some bank accounts can verify instantly, depending on our relationship with your bank. In general, I advise sellers to be prepared for the maximum amount, up to five business days. 


Sean
he/him/his
Product Manager | Square, Inc.
Message 20 of 54
8,187 Views

Ok thanks

Message 21 of 54
5,515 Views