What do I need to do to take over a Square account?

[bagelsgalore]

The title of this post has been edited from its original: "Buying business, new deposit account"

I purchased a business and I need to switch over the account where funds are deposited to. Can I do that with my new square account? Or do I have to take over the current account and update the banking info? 

[nika]

Welcome @bagelsgalore!

If you created a brand new Square account, you can simply link a bank account and have your transfers start going into that particular account.

If you've taken over someone else's Square account, you would need to update the banking info. One thing to note is that if you do go this route of taking over an account, there's not a way to have you listed as the main Account Owner. The account will always be in the name of the individual who originally created the account. This can get tricky if you ever need to call in and make changes to the account- you wouldn't be able to if you're not the Account Owner.

Hopefully this helps and makes sense!