Bank Verification

[Gerald1492]

My bank account shows the verification payments recieved but bank account is still not verified on square. Why is this?

[Kassi_ · Accepted solution]

Welcome to the Community, @Gerald1492 - 

Bank verification is a little tricky. It can take up to 4 business days for the entire verification process to complete. It's a lot of back and forth communication with the bank. Have you seen a credit, then debit of $0.01 to your bank account? 

This is an initial step in our bank verification process, which allows us to ensure that we can communicate with your bank. Right now, any payments you take are accumulating in your Square balance. Once the verification is complete, they will be deposited into your bank account. 

[BeautyMarked82]

I can see the verification deposit & withdrawal transaction in my linked bank account - but in the app, still says "processing" verification".  How long does this normally take?

[Joe]

Hi there, @BeautyMarked82 - thanks for taking the time to reach out here and make your first post via the Seller Community! We are happy to have you join us 👋

I've gone ahead and merged your post with a similar thread of Sellers who were also asking about bank verification timelines. This Best Answer from Kassi may be helpful here in regards to your bank and its verification process. I would also checkout this helpful resource from our Support Center in regards to bank verification ETA. 

Let me know if you have any clarifying questions! We are here to help.

[BeautyMarked82]

Hey there- thank you so much for the reply. I've seen: 

"Square Inc., SDV-VRFY" ($0.01)

both wthdrwl/depst. completed 

in my linked account since 03/29/20. 

Yet my app is saying "verification in progress" still today. 

I haven't received my actual Hardware yet, but I'm assuming that doesn't make a difference on the account verification process. 

Any other ideas you may have? Or is this average timing? @Kassi_ 

[Joe]

Hi there, @BeautyMarked82 - thanks for the prompt reply! I can step in for Kassi, here.

These small deposits and withdrawals are par for the course and a good sign in regards to verifying your bank! Its important to remember here that verification can take up to 4 business days, but so far - everything seems to be on track.

Keep us updated! 

[BeautyMarked82]

Thank you @Gerald1492 

Today is the 4th business day- so we’ll see - figured maybe

COVID-19 issues may have things backed up 🤷🏻‍♀️

But quick question- since I don’t have hardware and verification is pending, should I wait to utilize my Square (via manual entry) all together, until I received mag reader & verification is complete? 

[snoonan]

How d I talk with someone???

[Valentina]

Hi there @snoonan - you can reach out directly by phone by heading here.

P.S. Welcome to the Seller Community ✨

[slpitt]

We keep having issues with our bank verification failing.  Who can our bank call to get this resolved?

[JJ_]

I'm sorry to hear you're having issues linking your bank account. We currently don't offer the option for banks to call in to verify, @slpitt. If Square is unable to verify the bank account then we suggest trying with a different bank account.

P.S. Welcome to the Seller Community 

[Lemony12]

Square can barely keep their software running let alone connect to other banks. It seems like a lot of people are having trouble getting their bank verified. Funny thing, while this is all happening they get to use our money for free.

[Gam1]

It seems like there’s a bank verification done today on my account which I wasn’t aware of that it will be done. Is this normal square?  I’m not in any process other than I have not processed any transactions in few weeks. I just want to make sure I’m not being hacked. 

thanks. 

[AshleyK]

Hey @Gam1 thanks for posting and asking. I've merged your post with an existing thread in which Kassi does a great job of answering your question, but in general, the answer is, yes, we will do a test deposit and withdrawal to your bank account if you have recently tried to link your bank. 

Let me know if you have any other questions. Thank you again.

[Gam1]

That’s my concern because I didn’t change my bank account and yet there’s a verification initiated. I don’t know what that’s about. If you guys do random verification then that’s okay. I just want to make sure I’m not being hacked. 

[AshleyK]

You can check if your bank account has been changed under Account & Settings > Bank Accounts on the Square Dashboard. If you see changes you didn't make, please contact us as soon as possible so we can look at your account with you. 

[Gam1]

the account number is the same that's why i was wondering what prompt your deposit of one cent and withdrawal of one cent.  Normally that only happens if I changed my bank account.  In this case, I didn't make any changes, bank account is still the same and yet there's a bank verification initiated that's why I was asking if you guys do random verification because this has never happened before.

[Vauldine]

I cannot link my back account it is saying that they cannot locate the information I submitted with . I checked with my back and they have no discrepancies with my account information it is correct. Besides  it is this same account I have linked to Paypal. However they too out $0.01 from the same account that they cannot locate. So the bank account its not linking to my Square account

[Joe]

Hi there, @Vauldine - thanks for reaching out to us here on the Seller Community! Happy to have you join us here. So sorry to hear about the trouble verifying your bank account.

Your bank account verification can fail for a variety of reasons. Use these tips to try again:

• Use a transactional bank account. Prepaid cards and non-transactional accounts aren’t supported with your Square Account.
• Double check your bank account number and routing information with your bank.
• Ensure you have at least $1.00 in your bank account before you begin verification. We need to transfer and withdraw a small amount to ensure we can communicate with your bank account.

Since we were unable to withdraw the verification transfer we sent, your bank account remains unverified. Oftentimes we will not receive your bank’s withdrawal failure notice until a few days after the transfers have already gone through and your bank account is verified. Previous successful linking to other companies or accounts does not always insure successful verification through Square.

Since your verification has failed, please link a different transactional account, such as checking or savings account.

I've also gone ahead and merged your post into an existing thread of Sellers who were also experiencing issues in regards to bank account verification. This will help us keep track of this issues for record keeping purposes.

Let us know if you have any additional questions!

[Lemony12]

Square can barely keep their software running let alone connect to other banks. It seems like a lot of people are having trouble getting their bank verified. Funny thing, while this is all happening they get to use our money for free.

[lacallestudio]

Trying to get verified for funds transfer, tried for the last week and having trouble any reasons you might know. New to square.