How to

Setting up your Advance Payments Account for Square

Passing your Square revenue through your Advance Payments Account (issued by one of our bank partners) makes it possible to access fast, frictionless financing with the click of a button. Follow the steps below to set up your seamless payment solution.

Add your Advance Payments Account to Square

Square makes it easy to switch your account for payouts. First, add your Advance Payments Account to Square by following the steps below. 

  1. Click on the link below to access Bank Account Settings in your Square dashboard.

    Go to Square settings
  2. Click on ‘Link an account’, choose the option to add an external bank account, and confirm. ‘Square checking’ should not be selected.

  3. Enter your Advance Payments Account information, choose Business Checking account type, and click 'Verify'. You can find your account information in the Advance Payments Account setup screen of your platform.  

  4. Check your email for a notice from Square with their expected verification completed date. Verification can take a few minutes to a few days.  

Setup automatic transfers

Square will default to the transfer schedule you previously set up. To streamline the transfer process, please update the following settings for your account.   

  1. Navigate to 'Transfer Settings'

  2. Under 'Transfer speed' select '1-2 business days' to ensure there’s no delay from Square in sending your revenue to your Advance Payments Account.

  3. Choose the 'Next business day’ option for the fastest access to your revenue without fees. Please note that if you choose the same-day transfer option Square will charge you a fee. 

Await confirmation

Once you've completed setup, click "Continue" to return to your dashboard. If you haven’t already, you can request your advance during this time.  

Next, you’ll receive an email confirmation that Square has verified your new account and your revenue will now be transferred to your Advance Payments Account. 

Apply payout for all locations

It’s essential to use your Advance Payments Account as the payout method for every location you have since your capital offers and payments are directly tied to your revenue.

  1. From ‘Account & Settings’ click ‘Bank Accounts’.

  2. Under ‘All locations’, select the Advance Payments Account for each location from the drop-down menu. 

  3. Click ‘Update linked account’ and ‘Done’.

Please ensure this is completed for all of your locations to enjoy uninterrupted access to capital.

Once you’ve updated your locations, the first time revenue hits your Advance Payments Account, you'll be fully ready to go, and your requested funds will be sent to your designated advance payout account!

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