Using square with your local bank

[Bifftwc]

Hello, I’m wondering how difficult is it to use Square products with your local bank. ie: Can you be charged CC fees twice? I assume all transactions go into the Square account, and you can then transfer them to, say, your BofA business acct.? Any extra fees from Square for that? Also, how do you make cash deposits if you only have a Square account? Thank you for any information you can share!

[Gold]

HI, hopefully this Square Support page will help.  Overview of Square Checking.

https://squareup.com/help/us/en/subtopic/392

[JK_Fiber_Art · Accepted solution]

Hey there Bifftwc,

For us, as a very small business, we keep things simple.   We added our bank's business account info to our Square Account.  Square processes the Credit Card Transaction, deducts their fees and within a day or two, transfers the balance to our business bank account.  There's no additional fees by our bank or Square - it's just a straight transfer.   I believe if you require access to your funds right away, then there are additional fees charged by Square.   As for us and cash deposits, we use our local bank.   And as pointed out by @Gold, you do have the option of setting up a Square Checking account.

jk