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finder.com’s rating: 4.0 / 5.0
★★★★★
Square’s checking account and debit card give business owners instant access to their point-of-sale revenue. But you can’t deposit cash or checks, and if you frequently use ATMs, expect to pay fees to the owners of those machines.
$0 per month
Fee
0.50%
APY
$0
Minimum deposit to open
APY | 0.50% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
Intro or bonus offer | When you use your Square Card at any other Square seller, you get 2.75% off your purchase. |
ATMs | Anywhere Mastercard is accepted |
ATM transaction fee | $0 |
Overdraft fee | $0 |
Review by
Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).
The debit card links directly to your point of sale, so you can instantly access your revenue to pay for your business expenses. If you use your card with other Square sellers, you’ll also receive a 2.75% discount.
But you can’t deposit cash or checks into the account, and you’ll likely always pay owner fees when you use ATMs. Plus, the limits on ATM withdrawals are relatively low.
If you currently use Square‘s tools to run your business, this account is an excellent option. Otherwise, compare other business checking accounts to find the one that’s right for you.
You must have a Square account to open a Square Checking account. If you don’t have an existing Square account, you can create one for free by signing up at squareup.com. Once you have a Square, you can sign up for a Square debit card and checking account by following the below steps.
You must satisfy certain eligibility requirements to open a Square Checking account.
You must provide the following information when opening a Square Checking account and debit card.
The Square checking account offers these benefits for business owners.
On TrustPilot, Square has a 4.7-star rating based on 3,250 reviews. These reviews are overwhelmingly positive, with customers praising the platform’s security measures and the attentive and speedy customer service. Many said Square is simple to use, and especially ideal for small businesses.
Compare other business checking accounts based on their fees, ATM networks and interest rates.
Currently, you can’t deposit cash or checks into your Square Checking account, but there are a few other ways to move money into and out of it.
There are a few ways to contact a Square representative if you have questions or need help with your account.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.