Square Business Banking
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Square Banking Review

Square Banking includes business checking and savings accounts, debit cards, and loans for Square users.

    Erica Seppala
  • Last updated onUpdated

  • Chelsea Krause
  • REVIEWED BY

    Chelsea Krause

    Lead Staff Writer

Our content reflects the editorial opinions of our experts. While our site makes money through referral partnerships, we only partner with companies that meet our standards for quality, as outlined in our independent rating and scoring system.

Square Business Banking

Total Rating 3.8
Fees & Rates3.5

Services5.0

Rewards2.7

Features2.9

Eligibility Requirements4.3

Application Process4.6

Sales & Advertising Transparency3.9

Customer Service4.4

User Reviews4.3

APY

1.75%

Monthly Fee

$0

Business Size

Sole proprietors only

Square Banking At A Glance

  • FDIC-insured checking and savings accounts linked to your Square sales
  • Funds from sales immediately available via debit card
  • No credit checks

Business Banking Review Methodology

Merchant Maverick has been researching and reviewing business banking services since 2015. Our writers have tested over thirty different banking products, including checking accounts, savings accounts, employee spending cards, and more. In each review, we evaluate rates and fees, services, rewards, features, eligibility requirements, application process, sales and advertising transparency, customer service, and user reviews.

Weighted Rating Breakdown

Fees & Rates 25%
Services 15%
Rewards 15%
Features 15%
Eligibility Requirements 10%
Application Process 5%
Sales & Advertising Transparency 5%
Customer Service 5%
User Reviews 5%

Read more about how we rate business banking products.

When comparing different banks and banking services, we consider many data points, including the ease and transparency of the account application process, account fees, sales ethics, minimum deposit requirements, and revenue, time in business, and credit score requirements. Our lists of the best banking services include only those we’ve deemed worthwhile from multiple vantage points, and often share qualities such as widespread accessibility across fifty states, valuable rewards, numerous transaction options, and competitive APY.

We spend an average of 10-15 hours researching and updating each one of our lists, making sure the banking services included meet our internal standards for quality and reputation.

Erica Seppala

Erica Seppala

Editor & Senior Staff Writer at Merchant Maverick
Erica began writing on small business topics in 2008. She joined Merchant Maverick in 2018 and focuses on loans, accounting, and POS. She is a Certified ProAdvisor for QuickBooks Online and QuickBooks Payroll. She has been cited in MSN, Reader's Digest, Vox, U.S. News & World Report, and Real Simple. She is a graduate of Limestone University and resides in Greenville, South Carolina.
Erica Seppala
View Erica Seppala's professional experience on LinkedIn.



The Merchant Maverick Seal of Approval 🏆

Square Business Banking


Apply Now

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Square Business Banking for yourself.

The Merchant Maverick Seal of Approval 🏆

Square Business Banking


Apply Now

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Square Business Banking for yourself.