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Square Financial Services
squareup.comSummary
Square Financial Services provides banking solutions tailored for small businesses, offering checking and savings accounts, business loans, and a debit card. It aims to help businesses manage cash flow, access funds instantly from sales, and automate financial tasks.
Feature Matches3/12
See all3/12
Must Have
2 of 5
Prepaid Debit Card (Cash App Card)
Early Direct Deposit
Instant P2P Transfers
Commission-Free Stock Trading
Bitcoin Trading
Other
1 of 7
Fraud Monitoring & Security
High-Yield Savings
Round-Up Savings
Pay Over Time (Afterpay)
Instant Discounts & Offers
Customizable Card Designs
ATM Access & Fee Reimbursement
PricingTiered
See allTiered
Square Checking
$0.00 one time
- Instant access to sales revenue
- Square Debit Card
- 24/7 access to funds
- Third-party ATM operator fees may apply
- Instant availability does not apply to ACH transfers (1-2 business days)
Square Savings
$0.00 one time
- Automated budgeting (set aside part of sales for taxes/expenses)
- Accrue 1.00% APY per folder on folder balances over $10
- FDIC-insured up to $2,500,000
- APY subject to change (current as of 2/18/2025)
- Pending balances are not subject to FDIC insurance
Square Loans
Custom
- Custom loan offers
- Repayment on autopilot
- Instant funds through Square Checking
- By invitation only
- Loan eligibility is not guaranteed
- Subject to credit approval
- Minimum payment of 1/18th of the initial loan balance required every 60 days
- Full loan repayment required within 18 months
Square Credit Card
Custom
- Make purchases for your business
- Earn 1% back on Square processing fees
- Subject to credit approval
- APR varies based on creditworthiness and other factors
Rationale
Square Financial Services offers business banking solutions, including checking and savings accounts, and a debit card. While it provides features like instant access to funds (similar to early direct deposit for businesses) and a debit card, it is primarily focused on business financial management rather than peer-to-peer transfers or personal investing in stocks and bitcoin, which are core to Cash App. The security features are also present.
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See allBest alternatives to [Product] in 2024?
Reddit·tech_enthusiast·2d ago·+142
I've been using Alternative A for 6 months now and it's been fantastic. The pricing is much better and the features are actually more robust than what [Product] offers.
Show HN: We built a better [Product]
Hacker News·startup_founder·5d ago·+89
After struggling with [Product]'s limitations, we decided to build our own solution.
It handles edge cases much better and the API is actually documented properly.
Check it out at our site.
[Product] vs Competitor B - which one should I choose?
Reddit·confused_buyer·Oct 14·+67
Honestly, after trying both, Competitor B wins hands down. Better customer support, cleaner interface, and they don't nickel and dime you for every feature.
Why we migrated away from [Product]
Hacker News·cto_mike·Oct 11·+234
The breaking point was when they changed their API without notice. We lost 3 days of productivity. Solution C has been rock solid for us since we switched.