Two-day payroll helps you get your team paid faster. This feature allows you to either submit payroll up to two business days from your team’s pay date or get your team paid up to two days early, depending on when you want to submit payroll for processing. With this flexibility, two-day payroll gives you more time to run payroll and off-cycle payments.
For off-cycle and contractor payments, your team members will receive pay two business days after you submit the payment.
You can apply for two-day payroll from your Square Dashboard. You have two options for applying:
Learn more about Plaid on their website.
You must have already submitted at least one regular payroll run on your account before you can have a two-day deadline. Once you send a pay run, approval times for this method can vary from 1-2 business days.
If your application for two-day payroll is denied, you can re-apply to have the feature enabled on your account three months from the initial application date. To re-apply, contact Square Support.
If you update your bank account information or change your bank account sign-in details, relink your bank account with Plaid to avoid potential interruptions to your Square Payroll service.
If you are unable to use Plaid to link your bank account because Plaid does not support your bank, you encountered an error with Plaid, or for another reason, you can manually verify your bank account to apply for two-day payroll processing. Learn how to verify your Square Payroll bank account.
Once your bank account is verified, you can apply for two-day payroll processing.
Once your request for two-day payroll is submitted, your application will be reviewed. If your application is approved, the deadline to submit payroll will be updated in your Square Dashboard. Until then, the processing time of four business days for payroll will apply to your account.