Square announced on April 29, 2025, new Square Banking tools designed to give sellers instant access to their cash flow and free, easier ways to manage their earnings. Business owners can now sign up for a Square payments account and a free Square Checking account in minutes through a single streamlined application.
The expanded offerings include Square Savings accounts with new personalized savings recommendations, informed by cash flow data and industry insights. These recommendations help sellers organize funds into folders for key expenses like taxes and supplies, eliminating budgeting guesswork.
In 2024, sellers using Square Checking spent over $3.6 billion via debit cards connected to their accounts, marking a 29% increase from 2023. This growth highlights the increasing adoption and utility of Square's embedded financial services, which aim to provide small businesses with the tools to maintain healthy cash flow and access capital.
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