Hi Sellers!
Now you can create folders within your Square Balance, making it easy to set aside money for upcoming expenses, big business purchases or other financial goals.
With Balance Folders, you can create dedicated folders for things like taxes, payroll, rent and automatically set aside a percentage of every sale into those folders. Divvy up your funds without using multiple bank accounts or complicated math.
Plus, keep tabs on your money to avoid overspending, automatically sort funds with purpose, set short- and long-term goals, and see your progress along the way.
- Automate contributions – automatically set aside a percentage of your sales with purpose (one-time and recurring).
- Stay organized – set short- and long-term goals and track your progress.
- Move your money – transfer funds out of Square and to your bank when you need to.
- Customize your folders – create, consolidate, or rename folders any time, for free.
- Keep more of your money – no account fees or minimums.
Create a folder → <deep link into balance>
How do Balance Folders work?
Balance Folders puts budgeting on autopilot. You can create custom folders dedicated to an expense or financial goal and set up automatic contributions so you are setting aside money without manually transferring funds.
The money you set aside in folders will live in your Square Balance. When it’s time to access that money, you can transfer it to an external bank account, either instantly for a small fee or within 1-2 business days for free. Or you can instantly move money from a folder to your Square Balance to spend using your Square Card.
Browse the full FAQ →
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Your Square Balances are not deposits, not CDIC-insured, and are not interest-bearing. Terms apply. Learn more.
