If you use Square to collect payments from customers, you can withdraw your sales proceeds into the World Account. With the World Account, you can hold your multi-currency funds, make conversions at competitive FX rates, remit to your bank account, or pay your third-party suppliers abroad. You can even make purchases at wholesale sites like 1688.com directly with your World Account balance. With a few simple steps, you can start withdrawing your Square funds.
*Note: The following example uses a USD account for demonstration. The steps for other currencies are the same.
Step 1 – Set up a Receiving Account
- On your World Account dashboard, go to the Collections tab > Click Manage accounts
- Click on Add a new Receiving Account. You can then select the currency for your receiving account
- Select the required currency, account usage, marketplace platform, supported bank, and enter an account name. Click Confirm to complete your new receiving account
- Once the account is set up, you can click on Details to get the account details
Step 2 – Link your Receiving Account to Square
Reminder:
You need to create a receiving account in your World Account before linking it to your Square account for payments.
- Go to Settings > Account & Settings > Banking > Bank accounts in the Square Dashboard.
- Select Add external bank accounts
- Select Link your bank, and enter the bank information
Filling Tips:
Fill in or select the bank details exactly as shown in your World Account receiving account
- Account Type: Checking
- Account Holder’s Name: Account holder name (refer to the details in your World Account receiving account)
- Routing number: ACH routing number (refer to the details in your World Account receiving account)
- After confirming the information and passing verification, the binding is complete.
