Square Savings Account
Square up and earn a 3.05% Annual Percentage Rate (APY)!
- The minimum initial deposit is $1 to open an account.
- The maximum initial deposit is $100,000.
- There are no periodic fees or charges.
- There are no minimum balance requirements.
- Monthly statements are delivered electronically.
Your initial deposit can be made electronically from your existing bank. Once your Square Savings Account is active, you can connect your Square to your existing accounts for additional deposits or withdrawals. A connection can only be made with accounts having the same owner and must be able to accept electronic funds transfers.
Interest begins to accrue on your Square no later than the business day we receive credit. Interest will be compounded monthly and credited monthly. If you close your Square before interest is credited, accrued interest will not be paid. The interest rate paid on this account is established by Kirkpatrick Bank and may change at any time. Any change to the interest rate is at our discretion. (See Electronic Document Delivery Disclosure)
There are no limitations on the number of deposits you can make to your Square. You are, however, limited on the number of withdrawals. Only six preauthorized, automatic, computer or telephone transfers can be made from your Square Savings Account to another account in any month (a month may be either a calendar month or a statement cycle month). If you exceed these limits on more than an occasional basis, we may be required to close your account.
Some electronic transfer limits may apply.
