Hey Seller Community! โจWeโre very excited to announce that on 9/16 at 2pm PST | 5pm EST, weโll be hosting a Q&A with Square Banking's Head of Product, Christina Riechers!
Christina Riechers has been with Square for 6 years and is Square Banking's Head of Product. She was the founding Product Manager of the Square Debit Card, and before that, the first Product Manager of Instant Transfers. Christina is passionate about helping small business owners with cash flow products that give them more control over their finances to thrive in their business.
We will be selecting 10 of your replies for Christina to answer on recorded video. Joined with her on video will be our Super Seller, @pessosices, asking your questions. The video will then be posted on 9/16 for you all to see!
Please reply to this post with any questions you may have related to:
For those of you who reply to this post with a question that isnโt selected for Christina to answer, we will do our best to answer all of your questions via text in the thread below.
Some example questions include:
- Why did you start Square Banking?
- What do you hope Square Banking can provide Square sellers?
- What are the advantages of using Square Banking over a traditional Business Bank account?
- Can I deposit and write checks with a Square Checking Account?
Note on account-specific questions: For your privacy and security, we are not able to address issues related to specific account status details in our public forums. If you need account assistance, please contact our Customer Success team and they'll be able to take a deeper dive.
Thank you SO much to everyone who participated in this Q&A by asking a question for our Square Banking's Head of Product, Christina Riechers!
We selected 10 seller-asked questions from this Q&A, which were asked by our Super Seller @pessosices, and answered by Christina Riechers in the video below!
We will do our best to answer the rest of the questions via written reply directly in the Q&A.
A note on question #8 regarding transfers and limits:
Christina answered based on our current spending limits. For more information on spending limits, take a look here. If you're just looking to withdraw funds from your Square Checking or Savings account, there is currently a $50k per day limit for Square Savings. Square Checking has no withdraw limits. See further instruction within the thread below.
Disclaimer:
Square, Inc. is not a bank. Banking services are provided by Square Financial Services, Inc. or Sutton Bank; Members FDIC. Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc.
All loans and Savings accounts are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.
Square Checking is provided by Sutton Bank, Member FDIC. Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated, and may be used wherever Mastercard is accepted. Funds generated through Squareโs payment processing services are generally available in the Square checking account balance immediately after a payment is processed. Fund availability times may vary due to technical issues. Accounts are FDIC-insured up to $250,000.
