Does Square Instant Transfer cost money?

Square Instant Transfer: A Free Way to Move Funds

Square Instant Transfer is a convenient and cost-effective way to manage your business finances. With this service, you can automatically transfer funds daily to your external bank account, free of charge.

How Does Square Instant Transfer Work?

To use Square Instant Transfer, simply connect your Square account to your business bank account. Once connected, you can set up automatic transfers to occur daily, weekly, or monthly. The funds will be available in your bank account the next business day.

No Hidden Fees

Unlike other money transfer services, Square Instant Transfer does not charge any hidden fees. The only cost associated with the service is a 1% transaction fee for transfers made before 5 PM PST. For transfers made after 5 PM PST, the transaction fee is 1.5%.

Benefits of Using Square Instant Transfer

There are many benefits to using Square Instant Transfer, including:

• Convenience: You can automate your transfers and forget about manually moving funds.
• Speed: Funds are available in your bank account the next business day.
• Cost-effective: There are no hidden fees and the transaction fees are low.
• Security: Your funds are protected by Square’s secure encryption technology.

Conclusion

Square Instant Transfer is a great way to save time and money on your business finances. It is a convenient, cost-effective, and secure way to transfer funds from your Square account to your external bank account.