Your payments, banking, and cash flow — all working seamlessly togetheras one. It’s all right here on Square.
CheckingSavingsLoans
Block, Inc. is a financial services company, not a bank. Banking services are provided by Square’s banking affiliate, Square Financial Services, Inc. or Sutton Bank; Members FDIC.
Sell, save, spend, and borrow as fast as you need to
When you take payments and bank through Square, everything is connected. Watch your sales flow directly into Square Banking, so accessing and moving your money is fast, easy — and can even be automated.
$0 overdraft fees
$0 opening deposit
$0 minimum balance
$0 monthly account fees
Make a sale, instantly access the funds in your Square Checking account
Spend it instantly with your Square Debit Card
Automatically set aside a percentage of daily sales into a high-yield Square Savings folder
Become eligible for a Square Loan and automatically repay it through your Square sales
Checking
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Spend and access money instantly from your Square sales with your Square Checking and Debit Card.
No monthly fees or long applications.
Send money in and out of your account using your account and routing numbers.
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Savings
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Automatically set aside a portion of every Square sale. Use folders to organize money for taxes, rainy days, and more.
Earn 1.75%1APY*
No monthly fees and no minimum to open an account.
Free, instant transfers to and from Square Checking.
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Loans
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Become eligible for a loan between $300–$250K automatically by processing payments on Square.
Automatically pay off loans with a percentage of Square sales.
Get your funds as quickly as the next business day, or instantly in your Square Checking balance.
No ongoing interest—just one flat fee.
Loans are subject to eligibility and approval.
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Good news: Square Checking is FDIC-insured up to $250K and Square Savings is FDIC-insured up to $2.5M
Small business owners look to Square to expand and improve on the long-standing and often-unfair conventions surrounding financial services—like unnecessary, outdated fees and applications. We can do it better.
Our sellers are trailblazers. And they deserve business banking that can keep up.
Square Banking.
Serving the self-made.
32%
of Square Loans customers identify as people of color
Industry average is 27%
2021 internal Square analysis
1 in 4
business owners were rejected by big banks or deterred by the application process
2020 Square Card Survey results
51%
of Square Loans customers are women-owned businesses
Industry average is 17%
SBA 7(a) Lending Statistics for Major Programs as of 2019
2021 internal Square analysis
32%
found typical business accounts to be too expensive
2020 Square Card Survey results
What Square sellers are saying
What Square sellers are saying
Naza Beauty 0:00 / 0:00
Stephanie
I’m in the process of not being scared of finances. You have to invest in yourself—and think of it as a progression to your business's growth.
Intelisano
Studio
Stephanie
Intelisano
Studio
Them
Skates
Through ups and downs, everything I've learned about business has been through my 25 years in the skating industry — of course, I'm still learning every day.
Jon Julio
Them
Skates
Jon Julio
Square Banking by the numbers
Checking
Savings
$0
monthly fee
$0
overdraft fee
$0
opening deposit
$0
minimum balance
$0
monthly fee
$0
overdraft fee
1.75%
APY
$0
minimum balance required to open an account
Learn all about the ins and outs of business banking
Cash vs. credit: Which should you accept for your small business?
Keep your money secure: how to spot phishing emails
Two step verification
5 tips for business owners to manage their cash flow
Why you should separate your business and personal finances
Capital Report: US small business credit, sales, and confidence
A comprehensive guide to business loans
The basics of a business checking and savings account
How you helped us build Square Loans
What is savings APY?
A guide to business banking
The difference between business credit and personal credit
At the end of the day, I have to sell enough biscuits to buy more flour.
Chef Boots
Harlem Biscuit Company
Frequently asked questions
Check out details on our product pages below.
Checking
Savings
Loans
Didn’t find what you were looking for? Visit our Support Center or learn more about Square Banking
Learn more about your privacy and security
The privacy and security of both you and your customers are top priority for Square. Visit The Bottom Line or our Support Center to search for more articles and education about security and privacy at Square.
Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Block, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc.
All loans and Savings accounts are issued by Square Financial Services, Inc., a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.
1 Savings accounts are provided by Square Financial Services, Inc. Member FDIC. Accrue annual percentage yield (APY) of 1.75% per folder on folder balances over $10. APY subject to change, current as of 10/10/22. No minimum deposit is required to open an account. Accounts will not be charged monthly fees. Accounts are FDIC-insured up to $2,500,000.
Square Checking is provided by Sutton Bank, Member FDIC. Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated, and may be used wherever Mastercard is accepted. Accounts are FDIC-insured up to $250,000. Funds generated through Square’s payment processing services are generally available in the Square checking account balance immediately after a payment is processed. Fund availability times may vary due to technical issues.
