Square Card: Do the funds just stay on my Square Card or are they transferred at the end of the day?

[Onsite]

[This post was updated by moderator in 2019 to reflect a name change - deposits are now called transfers.]

I just received a square card and  I am confused as to whether the funds stay on my card or are they transferred in my bank account at the end of the day??

[VanKalkerFarms · Accepted solution]

With the Square Card, your deposits need to be done manually once you turn on the card.  you can still free next day, you just need to tell it to deposit.

[Mz_markie]

How do I activate card and can I get cash fro atm

[VanKalkerFarms]

yes, you can use an ATM, there is no fee from Square but the ATM could have fees.

https://squareup.com/us/en/business-debit-card

you activate it in your dashboard.  https://squareup.com/dashboard/deposits/square-card

[BridgetBahm]

Do not use ATM with card; last night I tried to get out 200 and it said could not process at machine but the money is gone from my account.

[Blkstone21]

How do you free the funds manually. Why doesn't it just post to the card instantly. I have a Square Loan and the monthly amount was taken from my account immediately? 

[VanKalkerFarms]

@Blkstone21, the funds are available to the card immediately after the transaction.  you just have to manually initiate the deposit to your bank account for the next business day deposit that used to be automatic but now is manual so that there is a balance for the Square Card to pull from.  the funds will be there and still automatically pulled for your Square Loan.

[Blkstone21]

It seems very simplistic, the monies never go into my actual account, just to the card correct. Where do you manualkm do it at. I saw prior  a preference of same day, 1-2 days, but I see neither now. 

[VanKalkerFarms]

once you enable your Square Card The money from your credit card transactions go into your Square account and are held there until you manually tell it to deposit to your account.

you tell it to deposit by following these steps. 

https://squareup.com/help/us/en/article/6589#transfer-funds-to-your-account

[bsams0859]

my money went into my linked bank account instead of staying on the card. I am really confused as to why it did that 

[Asiababie]

Do my funds stay on my Square Card or are they transferred at the end of the day? Can I keep it on my square card and not have it transferred 

[JJ_]

Hey @Asiababie and Welcome to the Seller Community

When you have a Square Card your Square Balance is stored in your Square Debit Card automatically and only Transferred to your bank account upon manual request. There is no requirement to transfer your funds to your bank at any point when you are banking with Square.

I hope this information is helpful!