How to close a Square account
To close your Square account, log into your Square Dashboard, go to Account Settings, select Preferences, and click the option to close your account. Square will ask you to confirm, and the closure takes effect immediately. You cannot reopen a closed account — if you need Square again later, you will have to create a new one from scratch.
Before you close, settle any outstanding balance on your account. If you have pending deposits or disputes in progress, Square will hold your funds until those resolve. Make sure you have downloaded or saved any transaction records you need, because you lose access to your full transaction history once the account is gone.
Key Takeaways
- Close your account through Account Settings in your Square Dashboard — there is no phone number to call or form to mail in.
- Square will not reopen a closed account, so you cannot reverse the decision; you must create a new account if you return.
- Any pending deposits or chargebacks will be held until they resolve, which can take weeks or months depending on the dispute.
- Download your transaction history and any receipts you need before closing, because you lose access to them permanently.
- If you have an active Square loan or line of credit, you must pay it off before closing your merchant account.
What happens to your money when you close
Square deposits any remaining balance to the bank account linked to your merchant account within one to two business days of closure. If you have pending transactions — sales that have not yet settled — those will complete on their normal schedule before the deposit goes through.
Chargebacks and disputes are different. If a customer disputes a charge or files a chargeback after you close your account, Square will hold the disputed amount in your account until the case resolves. This can take 30 to 90 days. You cannot access the account during this time, but Square will eventually deposit the funds (or deduct them if you lose the dispute) to your linked bank account once the matter is settled.
If you have a Square loan or line of credit, you must pay the full balance before closing. Square will not let you close an account with an outstanding loan balance.
Downloading your records before you close
Once your account is closed, you cannot log back in to retrieve transaction history, customer data, or receipts. Square does not automatically send you an archive of this information.
Before you close, log into your Dashboard and export what you need. Go to Transactions, select the date range you want, and download the CSV file. If you use Square Invoices, export those separately from the Invoices section. If you have customer records or employee data, download those too — they will be gone once the account closes.
If you close your account and later realize you need records you did not save, contact Square Support. They may be able to provide transaction history for a fee or may refuse depending on how long ago the account closed. It is much easier to download everything before you close.
Cancelling Square subscriptions and services tied to your account
If you use Square Payroll, Square Invoices, Square Online, or any other Square product beyond basic payment processing, closing your merchant account will cancel those services too. You will lose access to any payroll records, invoices, or online store data.
If you want to keep using one of these services but stop accepting card payments, you do not have to close your entire account. Instead, you can disable card processing while keeping the account open. Contact Square Support to discuss which services you want to keep and which you want to cancel.
If you have employees on Square Payroll, closing your account will end their access to the payroll system. Make sure they have received all pay stubs and tax documents before you close.
What to do if you cannot access your account
If you forgot your password or cannot log into your Dashboard, you can reset your password through the login page. Click "Forgot password?" and Square will send a reset link to the email address on file.
If your account has been suspended or locked — usually because of suspicious activity, too many chargebacks, or a violation of Square's terms — you cannot close it yourself through the Dashboard. Contact Square Support and explain that you want to close your account. They will review your account status and either unlock it so you can close it, or close it for you.
If you have been locked out because of fraud or a security issue, Square may hold your funds for longer than usual while they investigate. Be prepared for a delay of several weeks.
Switching to a different payment processor
If you are closing Square to move to another payment processor, you do not need to close your Square account first. You can set up a new processor and start using it while your Square account is still open. This gives you time to make sure the new system works before you close Square.
Once you are confident in the new processor, then close your Square account. This approach reduces the risk of losing payment processing during the switch.
If you are moving to another processor, ask them whether they can import your customer data or transaction history from Square. Some processors can; others cannot. Knowing this before you close will help you decide what to download and save.
Frequently Asked Questions
Can I reopen my Square account after I close it?
No. Once you close your account, it cannot be reopened. If you need Square again, you must create a brand new account. This means a new login, a new merchant ID, and starting from zero with Square's system.
What if I have a pending chargeback when I close my account?
Square will hold your account open until the chargeback resolves, even though you closed it. You cannot log in, but the account exists in the background. Once the dispute is settled, Square will deposit or deduct the amount and then fully close the account.
Do I have to pay a fee to close my Square account?
No. Closing your account is free. However, if you have an outstanding loan balance, you must pay that off before closing. You may also owe processing fees for any transactions that have not yet settled.
How long does it take for my money to arrive after I close?
Square deposits your remaining balance within one to two business days of closure, assuming there are no pending disputes. If chargebacks or disputes are open, the deposit is delayed until those resolve, which can take 30 to 90 days or longer.
What happens to my Square reader or hardware?
Your Square reader or point-of-sale hardware will stop working once your account closes. You do not need to return it to Square, but you cannot use it with any other account. If you want to use Square again later, you will need to order new hardware.