# Square Banking Reviews **Vendor:** Block **Category:** [Other Finance Software](https://www.g2.com/categories/other-finance) **Average Rating:** 4.9/5.0 **Total Reviews:** 11 ## About Square Banking Square Banking is a fully integrated suite of financial tools that helps small businesses manage cash flow, access capital, and make smarter financial decisions — all from one connected ecosystem. Built into the same platform sellers use to run their business, Square Banking combines free business checking and savings, automated financial tools and credit access, giving sellers deeper control, visibility, and confidence with their money. Key Products: Square Checking\*: Square Checking is a free, integrated business checking account and debit card that gives you instant access to your Square sales, so you can manage and spend your money in real-time. Pay for inventory, utilities, and vendors on your terms — with your account and routing numbers, Bill Pay, or checks. With Instant Payouts, earnings from delivery platforms like DoorDash and Uber Eats are also deposited into the account immediately — no delays. There are no monthly fees, overdraft charges, or minimum balance requirements, making it a flexible and reliable solution for small business banking. Square Savings\*\*: Square Savings is a free business savings account that helps you automatically budget, save, and stay organized — all while earning competitive APY. Automatically set aside a percentage of each sale and plan ahead for key expenses like taxes, supplies, bills, and more. Use folders to organize your money in real time, and get personalized recommendations to help budget effortlessly. Square Loans\*\*\*: Fast funding, made simple. Square Loans offers custom loan amounts based on factors like your sales history — no lengthy applications, no ongoing interest, and just one flat fee. Repay automatically from your daily Square sales, and get funds instantly deposited to your Square Checking account once approved. Why Square Banking? Square Banking gives you seamless control over your finances — all in one place. Access your sales instantly and unlock credit tailored to your business. Automate your savings, stay on top of expenses, and simplify your bill payments. No monthly fees, no minimums, no overdrafts. Built into the ecosystem over 4M+ business already use. Disclosures: 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 Block, Inc. Block, Inc. is not a bank. Banking services are provided by Square Financial Services, Inc. or Sutton Bank; Members FDIC. Square Checking and Debit Card: \*Block, Inc. is a financial services platform and not an FDIC-insured bank. FDIC deposit insurance coverage only protects against the failure of an FDIC-insured deposit institution. If you have a Square Checking account, up to $250,000 of your balance may be covered by FDIC insurance on a pass-through basis through Sutton Bank, Member FDIC, subject to aggregation of the account holder’s funds held at Sutton Bank and if certain conditions have been met. Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard. See Terms and Conditions (https://squareup.com/us/en/legal/general/sqchecking-tos). Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard. Instant availability of Square Payments. 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. Instant availability does not apply to funds added to the Square Checking account via ACH transfer. ACH credit transfers to your account may take 1–2 business days. Instant Payouts services require a Square Checking account. Funds provided through Instant Payouts services are generally available in the Square Checking account balance immediately after an order is processed. Fund availability times may vary due to technical issues. If an order is not paid out instantly, it will be available according to your regular deposit schedule. Payout limits, including limits on payout amounts, may apply. Square Savings: Savings accounts are provided by Square Financial Services, Inc. Member FDIC. \*\*Accrue annual percentage yield (APY) of 1.00% per folder on folder balances over $10. APY subject to change, current as of 2/18/2025. 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. Pending balances are not subject to FDIC insurance. The rate of our savings account is more than 2x the national average of 0.41% APY, based on the national average of savings accounts rates published in the FDIC Weekly National Rates and Rate Caps accurate as of 1/21/2025. Square Loans: \*\*\*All loans are issued by Square Financial Services, Inc. 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. ## Square Banking Reviews ### 1. Great platform for transactions! **Rating:** 5.0/5.0 stars **Reviewed by:** Brennan K. | Owner, Small-Business (50 or fewer emp.) **Reviewed Date:** April 16, 2026 **What do you like best about Square Banking?** Simple yet affective tool to handle customer interactions regarding banking **What do you dislike about Square Banking?** I don’t dislike anything about square banking **What problems is Square Banking solving and how is that benefiting you?** It helped solve my invoice problems, track payments and ensure they customers had a cohesive experience ### 2. Excellent Service **Rating:** 5.0/5.0 stars **Reviewed by:** Vivian G. | Founder & Owner, CEO, Small-Business (50 or fewer emp.) **Reviewed Date:** August 24, 2022 **What do you like best about Square Banking?** The process to get a loan is easy and quick **What do you dislike about Square Banking?** There is no intuitive button to pay back more money at once. **What problems is Square Banking solving and how is that benefiting you?** Square Capital makes it easy to get your money and to pay it back - especially with little bureaucracy! I love it! ### 3. DON'T SLEEP ON SQUARE CAPITAL! **Rating:** 5.0/5.0 stars **Reviewed by:** Kerpasha D. | CEO/Owner, Graphic Design, Small-Business (50 or fewer emp.) **Reviewed Date:** December 21, 2021 **What do you like best about Square Banking?** I absolutely love everything about Square Capital. It allows you to have funds that otherwise might not be available to small businesses/entreprenuers. Also, the ability to pay back when income comes in versus a monthly payment is great for me! **What do you dislike about Square Banking?** Sometimes the amount offered is a little low compared to the processed invoices. Also, the fee that is accessed could be somewhat lower. Overall I have few complaints about Square Capital. **What problems is Square Banking solving and how is that benefiting you?** During the pandemic, Square Capital allowed me to continue to pay monthly operating expenses until business picked up. Paying for various software upgrades and equipment. ### 4. Easy way to get capital **Rating:** 5.0/5.0 stars **Reviewed by:** Wayne H. | Clinic Director, Small-Business (50 or fewer emp.) **Reviewed Date:** January 23, 2022 **What do you like best about Square Banking?** When we needed some capital we got an offer from square. They base it on how much you are bringing in on the square app. The rates are good and they just take a percentage of your earning to pay back the loan. **What do you dislike about Square Banking?** While the rates are good you might be able to find a better rate out there. We've only taken out one loan. Also I'm not sure that you can pay it back without any penalty. **What problems is Square Banking solving and how is that benefiting you?** We needed capital quick to take care of some emergencies. This was an easy way to get that. The loan is based on what you take in so thats how they figure your amount. Worked out great. ### 5. Its the easiest way to get capital when you need it the most **Rating:** 5.0/5.0 stars **Reviewed by:** Blake S. | Product Designer, Small-Business (50 or fewer emp.) **Reviewed Date:** May 03, 2022 **What do you like best about Square Banking?** How frictionless it was when I accessed it **What do you dislike about Square Banking?** There was nothing that I did not like. it was all good! **What problems is Square Banking solving and how is that benefiting you?** To get micro business loans for my business. I did not have to go through the lengthy process of other banks ### 6. Seamless, Great for Businesses of all Kinds **Rating:** 5.0/5.0 stars **Reviewed by:** Verified User in Electrical/Electronic Manufacturing | Mid-Market (51-1000 emp.) **Reviewed Date:** November 10, 2021 **What do you like best about Square Banking?** I like that I can take payments anywhere. Conducting business should not be limited to an in-person transaction or at a fixed place. Square makes things simple. The platform is user-friendly and secure. Now, it doesn't matter if a customer is paying me in person with a credit card; but instead, I can take payments over the phone. **What do you dislike about Square Banking?** Square is great, but it is not cheap. If you don't like giving away money, Square is not for you. For some businesses, the ease may justify the cost, but I don't think this is a sustainable method for small businesses. **What problems is Square Banking solving and how is that benefiting you?** Square allows me to take payments anywhere, and the transaction limit is quite generous. I don't have any issues with the number of payments I can take. Square is beneficial for flexible business owners and entrepreneurs. ### 7. Useful for small businesses **Rating:** 4.5/5.0 stars **Reviewed by:** Verified User in Consumer Services | Small-Business (50 or fewer emp.) **Reviewed Date:** September 14, 2021 **What do you like best about Square Banking?** I like how simple and easy it is to apply and receive funds and how everything is integrated with other square programs that i already use! **What do you dislike about Square Banking?** I wish I could pay back loans on my own schedule or set a maximum amount instead of just being a flat rate percentage taken out daily. I also wish I could make extra payments, no matter how small, towards the loans when possible. **Recommendations to others considering Square Banking:** If you know you can afford it, it's a great resource and tool to have. But it is not necessary. **What problems is Square Banking solving and how is that benefiting you?** I have been able to receive loans to expand my business and I am easily able to see the terms and conditions, apply, receive approval, and receive better rates since I have previously received loans and successfully paid them back quickly. ### 8. Square Capital Review **Rating:** 4.0/5.0 stars **Reviewed by:** Libby D. | Marketing and Sales Intern, Small-Business (50 or fewer emp.) **Reviewed Date:** July 15, 2019 **What do you like best about Square Banking?** What I like best about Square Capital specifically is that it integrates seamlessly with Sqaure's payments and POS functions for small businesses. Thus when I was working for a small business we could facilitate many of our financing as well as payments through one system and thus makes repaying loans less time consuming. **What do you dislike about Square Banking?** The only thing I dislike about using Square Capital instead of other small business loans like from a bank is that the amount of return was lower than what we were quoted from banks and their is less financial backing from Square than from a bank. **Recommendations to others considering Square Banking:** Would definitely recommend considering Square Capital if you are a small business using Square already and would like to look into external loans. **What problems is Square Banking solving and how is that benefiting you?** With Square Capital we were able to raise funds to expand our small business and buy a larger storefront. Square Capital was beneficial for our company because it enabled us to repay our loans seamlessly and extremely easily with a percentage of each sale going straight to repaying the loan through the Square system. ### 9. AWESOME! **Rating:** 5.0/5.0 stars **Reviewed by:** Dania | T. | Small-Business (50 or fewer emp.) **Reviewed Date:** June 24, 2020 **What do you like best about Square Banking?** So easy! They take payments from your cc deposits so you don't feel like you're paying a massive bill. They simply evaluate your income from the payments that come into your business. It's fuss-free, hassle free working capital for your business. **What do you dislike about Square Banking?** There's not much I don't like, honestly. **Recommendations to others considering Square Banking:** If you don't get the amount you need right away, stick with it. Offers seem to be in direct correlation to your cc income history. **What problems is Square Banking solving and how is that benefiting you?** Ongoing Capital to be used as needed for business. The best funding option for my business yet. ### 10. Very User friendly **Rating:** 5.0/5.0 stars **Reviewed by:** Verified User in Civic & Social Organization | Small-Business (50 or fewer emp.) **Reviewed Date:** June 25, 2020 **What do you like best about Square Banking?** Very user friendly and a must have for any small business for sales with the general public. **What do you dislike about Square Banking?** I have not had any issues with square Capital. **What problems is Square Banking solving and how is that benefiting you?** Very convenient to use when typical pay stations are unavailable. ### 11. Saved us more than once! **Rating:** 5.0/5.0 stars **Reviewed by:** Verified User in Food & Beverages | Small-Business (50 or fewer emp.) **Reviewed Date:** October 22, 2019 **What do you like best about Square Banking?** How easy it is to apply, be approved and receive funds. You get access to a lot of funds based on your sales (which square already has access to so no need for additional proof!). No paperwork, no hassle. And payments happen without you noticing because there are no set payments!! Just a percentage of daily sales. **What do you dislike about Square Banking?** As with any product from Square, you pay a premium to access funds. However, if you are in a bind and need money fast, that is worth it to pay! **Recommendations to others considering Square Banking:** Consider the total cost of your loan and make sure it compares to other providers. The percentage payment might be better for your business than a set sum even if the cost is ultimately higher! **What problems is Square Banking solving and how is that benefiting you?** We had to pay an unexpected bill of over $5,000 and did not want to use our personal funds so we received these from Square. The money came the next day and we paid it back without even noticing because Square takes a percentage of your sales. ## Square Banking Discussions - [How do you use square software?](https://www.g2.com/discussions/how-do-you-use-square-software) - [What exactly does Square do?](https://www.g2.com/discussions/what-exactly-does-square-do) - [What is special about Square Inc?](https://www.g2.com/discussions/what-is-special-about-square-inc) - [View Square Banking pricing details and edition comparison](https://www.g2.com/products/square-banking/reviews?section=pricing&secure%5Bexpires_at%5D=2026-05-14+16%3A04%3A42+-0500&secure%5Bsession_id%5D=e7d5a932-0b00-4c5d-a039-7f040423bdb8&secure%5Btoken%5D=0c4e4cf199c277b02bb05dafd5566ca2eaabb0d8d479ada1d153c662a99bcacb&format=llm_user) ## Top Square Banking Alternatives - [Joist](https://www.g2.com/products/evercommerce-joist/reviews) - 4.1/5.0 (31 reviews) - [WhatsApp & WeChat Capture](https://www.g2.com/products/whatsapp-wechat-capture/reviews) - 4.7/5.0 (14 reviews) - [SAP Multi-Bank Connectivity](https://www.g2.com/products/sap-multi-bank-connectivity/reviews) - 4.3/5.0 (29 reviews)