BoredHobbies
05-16-2019
06:55 AM
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Can you change when your deposit is made
I am wanting to wait to deposit the money at a later date instead of the next day, is there a way to do this?
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2 REPLIES 2
GlassJudy
05-16-2019
07:57 AM
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The only way you can hold funds so they will be deposited at your request is to have a Square debit Card. When you have that, you need to request a transfer of your funds to your bank account and until you do, your funds are held in your account at Square. If you don't have a Card, your funds will be deposited according to the schedule you set up here, or Dashboard > Account & Settings > Business > Deposits and go to the Deposit Schedule section.
A couple of things to consider when you leave your funds in your Square account:
- They are not FDIC insured, and
- They don't accrue interest as they would in a savings account at your bank.
Judy T Shumway
BoredHobbies
05-16-2019
08:10 AM
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Ok, thank you for your reply. That all makes sense!