Solved: Re: Square Banking Q&A: Ask us anything about tran... - Page 3 - The Seller Community

Thanks again for taking the time to participate in this Q&A and share your questions and feedback!

We hope your questions are answered - the experiences you’ve shared will help us as we continue to iterate.

As we close out this event, we wanted to do a recap on three themes that came up:

1. You’d like to see more flexibility in paying or sending money to vendors and other bank accounts 

We only support linking your Square balance or Square Checking account to one external bank account today. We are actively looking into bill pay solutions that allow you to pay vendors from your Square Checking account and support adding multiple external bank accounts on file.   

In the meantime, if your vendor has an online portal for receiving payments, you can pay them using the Square Debit Card or set up an ACH transfer by providing your Square Checking accounts’ account & routing number.  

2. It’s important to reconcile sales and transfer amounts

To match your sales with the transfer amount and understand the breakdown, you can look at the Transfer Activity details from the Square Dashboard or mobile app following these steps.  

Note that if you are on the Manual Transfer schedule, we aren’t able to provide a detailed reporting that contains all the breakdown because you may transfer a partial amount and we won’t be able to tell which payments, fees, or refunds are included in this transfer amount. I would recommend that you check out the Sales Summary report (located at Reports -> Sales Summary) to see the breakdown of your total sales and Square’s fees.  

3. You’d like to see more ways to deposit money into Square Checking 

You can add money into your Square Checking today by:

You can also send an ACH transfer or set up direct deposit from an external bank account to your Square Checking account by using your Square Checking accounts’ account & routing number

We are exploring other ways for you to add money into Square Checking so that you can track everything in one place. Stay tuned!

Again, thanks for your participation. For the latest updates, keep watch for announcements of new features in Product Updates.

Square, Inc. is a financial services company, not a bank. Square Checking is provided by Sutton Bank, Member FDIC.

Thanks again for taking the time to participate in this Q&A and share your questions and feedback!

We hope your questions are answered - the experiences you’ve shared will help us as we continue to iterate.

As we close out this event, we wanted to do a recap on three themes that came up:

1. You’d like to see more flexibility in paying or sending money to vendors and other bank accounts 

We only support linking your Square balance or Square Checking account to one external bank account today. We are actively looking into bill pay solutions that allow you to pay vendors from your Square Checking account and support adding multiple external bank accounts on file.   

In the meantime, if your vendor has an online portal for receiving payments, you can pay them using the Square Debit Card or set up an ACH transfer by providing your Square Checking accounts’ account & routing number.  

2. It’s important to reconcile sales and transfer amounts

To match your sales with the transfer amount and understand the breakdown, you can look at the Transfer Activity details from the Square Dashboard or mobile app following these steps.  

Note that if you are on the Manual Transfer schedule, we aren’t able to provide a detailed reporting that contains all the breakdown because you may transfer a partial amount and we won’t be able to tell which payments, fees, or refunds are included in this transfer amount. I would recommend that you check out the Sales Summary report (located at Reports -> Sales Summary) to see the breakdown of your total sales and Square’s fees.  

3. You’d like to see more ways to deposit money into Square Checking 

You can add money into your Square Checking today by:

You can also send an ACH transfer or set up direct deposit from an external bank account to your Square Checking account by using your Square Checking accounts’ account & routing number

We are exploring other ways for you to add money into Square Checking so that you can track everything in one place. Stay tuned!

Again, thanks for your participation. For the latest updates, keep watch for announcements of new features in Product Updates.

Square, Inc. is a financial services company, not a bank. Square Checking is provided by Sutton Bank, Member FDIC.

This content was originally published here.

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