Square Your cart Open menu Banking Overview Contact sales Square Banking Your payments, banking, and cash flow. Working as one. Get started Already on Square? View my account. Square, 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. Your payments, business banking accounts, and cash flow, synced together seamlessly. 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 Checking Learn more Spend and access money instantly from your Square sales with your Square Checking and Debit Card. No monthly fees, credit checks, or long applications. Send money in and out of your account using your account and routing numbers. Savings Loans Good news: Both Square Checking and Savings are FDIC-insured up to $250K 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expand and improve on the long-standing and often-unfair conventions surrounding financial services—like unnecessary, outdated fees and applications.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 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 1 in 4 business owners were rejected by big banks or deterred by the application process 2020 Square Card Survey results Square Banking by the numbers Checking $0 monthly fee $0 overdraft fee $0 opening deposit 0 credit checks $0 minimum balance Learn all about the ins and outs of business banking Cash vs. credit: Which should you accept for your small business? 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 Square Checking accounts are provided by Sutton Bank, Member FDIC. The Square Debit Card is a debit card that accesses the funds in the Square Checking account, and is issued by Sutton Bank, Member FDIC; pursuant to a license from Mastercard International Incorporated, and may be used wherever Mastercard is accepted. 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. 1Savings accounts are provided by Square Financial Services, Inc., Member FDIC. Annual percentage yield (APY) of 0.50% will apply until 12/31/2021, after which the APY in effect at that time will apply, and will be subject to change. No minimum deposit is required to open an account, and no minimum balance is required to obtain any advertised APY. We do not charge monthly fees. Certain fees may apply for optional, premium features that may reduce account earnings. Savings accounts are FDIC-insured up to $250,000. All loans are issued by Square Financial Services, Inc., a Utah-chartered Industrial Bank, Member FDIC. 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. Actual fee depends upon payment card-processing history, loan amount and other eligibility factors. Loan eligibility is not guaranteed. All loans are subject to credit approval. Square, the Square logo, Square Financial Services, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly-owned subsidiary of Square, Inc. 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