Square has eliminated deposit limits and holds on manually entered transactions within its system, according to a November 13 press release.
Funds from both swiped and non-swiped payments will now clear in as little as one to two business days, a development Square says provides “a crucial advantage” to sellers who don’t take payments in person.
The change means merchants will be able to access funds sooner, though as some commentators have suggested, the decision could lead to increased fraud liabilities.
To learn more about Square’s announcement, read the full press release here.
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