To enable businesses to accept several payment forms, Square Payments is an online system that connects and processes payments using Square hardware and POS software. Through integration with other Square tools and third-party applications, businesses can use Square Payments to make transactions from any location, send invoices, store payment information for recurring customers, deposit payments from all major credit cards, sell through e-commerce platforms, and more. If you are a business owner and a Square user who wants to automate payment and wondered what happens when you deactivate your Square account? Or can Square legally hold your money? Let’s get you your answers! We are bringing you a helpful guide that will resolve all your doubts, like how to delete Square account and learn if can Square legally hold your money.
How to Delete Square Account
You can delete Square account from the Account & Settings page of the Square website. Keep reading further to find the steps explaining the same in detail with useful illustrations for better understanding.
If you have a business that has many locations or you have multiple businesses in various locations and you want to have multiple Square accounts, Square has a feature that allows you to have multiple accounts. You can create numerous Square accounts using the same mobile number and bank account if you have different enterprises or need individual separate accounts. Similar to how you might manage various bank accounts, you may manage multiple Square accounts. But to prevent transactions from one account from being mixed up with another, you must have to maintain them separately.
Before learning how to delete Square account, let’s see how you can change the owner of a Square account. If you want to change the owner or transfer the ownership of a Square account, you can do so. But if a Square account ownership is transferred, all related personal data, including the owner’s name, email address, birth date, and Social Security number (SSN) are also changed. Here is a guide on how can you change the ownership of a square account.
Note: Before changing the owner of a Square account, make sure the owner of the account should be present and able to verify themselves. Also, they should have their Tax information attached to the account.
Let’s see how to transfer ownership of a Square account.
Note: There is no way to undo an account transfer process. If you want to change the ownership again, you will have to perform another account transfer process as mentioned below.
1. Visit the Square official website on your browser.
2. Click on Sign In from the top right corner of the screen and sign into the present owner’s Square account.
3. Then, click on your business name > Account settings from the top right corner.
4. Click on Personal Information from the left pane.
5. Scroll down and click on Start Account Transfer under the Transfer of Account section.
6. Now, fill out a verification form and enter details like name, birthdate, and the last four digits of your SSN or Individual Taxpayer Identification Number (ITIN) to validate your identity as the owner of the business.
7. Enter the new account owner’s email address. The new account owner will receive an identity verification form in their email inbox.
8. Now, mark the checkbox for Transfer of Account Agreement and click on Agree & Continue.
9. Locate the confirmation email from Square in your mail inbox. From there, click on the Confirm Transfer option.
Completing these steps your Square account process is 50 percent done, now the new owner has to accept the transfer. Keep reading this article further to learn how to delete Square account.
Here is a guide for the new account owner on how to accept the Square Account transfer request.
1. Open the verification email sent to you by Square and click on Verify Identity.
2. Fill out the form and enter details like your name, address, the last four digits of your SSN or Individual Taxpayer Identification Number (ITIN), and phone number.
3. Select the checkbox for Transfer of Account Agreement and click on Agree & Continue. After the completion of your Identity verification, the Square account will be transferred.
4. Now, open the email regarding resetting your Square account password and click on Reset Password in it.
5. Choose your preferred language, time zone, and new password.
6. Finally, click on Save Changes.
This is how you can successfully transfer ownership or change the owner of a Square account in a few easy steps.
Also Read: How to Delete a Pure Account
The Square hardware and Point of Sale (POS) software are integrated with Square Payments, an online payment processing service that enables businesses to accept different payment kinds. But if you have a Square debit card and you don’t use it anymore, so to prevent paying unnecessary charges, you should temporarily block your Square card. This is a simple process as you only need to install the Square app on your mobile phone and follow these upcoming steps to temporarily block your Square card.
Note: Make sure you are already logged into your Sqare account.
1. Launch the Square Point of Sale – POS app.
2. Tap on the hamburger icon > Balance option.
3. Now, tap on the Checking option under the Balance option.
4. Swipe all the way down in the Balance options menu and toggle on the switch next to Lock Card to lock or disable your Square Card.
Hopefully, following these steps, you have successfully deleted your Square card.
There is o direct way to delete an email account from Square. You can change the current email address with the help of the steps mentioned below.
1. Navigate to the official website of Square and Sign In to your Square account.
2. Click on your business name > Account settings > Personal Information.
3. Click on Change next to the current email address, as shown below.
4. Now, select your email address or phone number to receive a verification code.
5. Then, click on Next.
6. Enter the received verification code in the available field and click on Submit.
7. Lastly, enter and confirm the new email address and click on Change.
What Happens When You Deactivate Your Square Account?
After your Square account is deactivated, you won’t be able to access or view your payment history or any account information, including 1099-K tax forms, crucial sales information that Square used to keep a record of, and the record of your customers and merchandise. So, make sure you transfer and save all of this crucial business data like payment history and Customer directory before deactivating your Square account. Also, if you have an active subscription, make sure you cancel them before deactivating your account to avoid any ongoing payments. So, this is what happens when you deactivate your Square account.
How Can You Cancel a Square Account?
Let’s see how can you cancel a Square account in a few easy steps.
1. Visit the official website of Square and Sign In to your account.
3. Click on your business name from the top right corner.
4. Then, click on Account settings > Personal Information.
5. Scroll down to the bottom and click on Deactivate Account.
6. Now, select the desired reason why you want to deactivate your Square account and click on Continue.
7. Then, enter the Square account password and click on Confirm.
Also Read: How to Delete Your Riot Account
You can delete or deactivate your Square account from the Account & Settings page of the Square website. Follow the steps mentioned above to learn this procedure step by step in detail.
Below are the steps to delete the Square Online account.
Note: Make sure you are signed into your account before following the below-mentioned steps.
1. Get into your Square account on your browser and click on your business name from the top right corner.
2. Click on Account settings > Personal Information.
3. Click on Deactivate Account from the bottom of the page and select the desired reason to delete your account.
4. Click on Continue and enter your Square account password.
5. Finally, click on Confirm to delete your Square Online account.
No, Square can’t take money out of your bank account without letting you know. Also, all of your transaction money is transferred to your bank account the next day it happens.
No, Square cannot legally hold your money without your permission.
So, we hope you have understood how to delete Square account and what happens when you deactivate your Square account with the detailed steps to your aid. You can let us know any queries or suggestions about any other topic you want us to make an article on. Drop them in the comments section below for us to know.