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INR Deposit

Adding your bank account with the Square app is a mandatory step as it makes INR deposits and withdrawals smoother and quicker.

Adding a bank account to your Square account is usually instantaneous.

No, for operational convenience we are not allowing to add more than one bank account at the same time. If you need, you can change your registered bank account.

You need to contact the support team at support@squarein.com to change your registered bank account details.

VAN is an acronym for Virtual Account Number. This is like any other bank account number but only exists in the Square platform to perform actions like INR Deposits and Withdrawals.

All users get a unique VAN setup automatically on their name after they complete the Registration and KYC processes successfully.

Manual deposit is one of the methods to deposit money into your Square INR wallet. In this method you transfer funds to the company’s bank account and after we successfully receive the funds into our bank account, we will load your Square INR wallet with the corresponding amount.

To deposit INR through VAN Follow these steps:

  • Go to the Portfolio section.
  • Click on Deposit button under the INR wallet tab.
  •  Click on VAN option and Copy your VAN account details displayed.
  • Go to your personal banking app, make fund transfer to the VAN account from the registered bank account.
  • After successfully transferring the funds, come back to the Square app and to Portfolio section to see the updated INR wallet.

Follow these steps to deposit INR via the manual method:

  • Go to the Portfolio section.
  • Click on the Deposit button under the INR wallet tab.
  • Click on the Manual Deposit button from the available options.
  • You will see the company’s bank account details, copy them
  • Go to your personal banking app, make a fund transfer to the company account from the registered bank account, and make a screenshot of the details.
  • After successfully transferring the funds, come back to the Square app and click on the Fill in transaction details button.
  •  Attach the transaction screenshot, enter transaction details, and click submit.
  • Your deposit request will be submitted.

Adding the transaction details will help us to

  • Identify your deposit 
  • Match deposits with the user account accurately  
  • Process the deposit requests quickly and
  • Maintain a proper database.

You can deposit a minimum of 10 INR to a maximum of what’s been allowed via bank transfer. (Means the usual upper transfer limits of NEFT, IMPS, and RTGS will be applied.

Deposits through the VAN account will be instantaneous. Manual deposits may take up to 48hrs.

INR Withdrawal

For deposits, through VAN there will be a fee of 0.10% per transaction.

For Manual deposits Square doesn’t charge anything but general NEFT/IMPS/RTGS will be applied.

You can withdraw INR from the Square app by following these steps: (Remember you can only withdraw money to your registered bank account (which you have given during registration).

  • Go to the Portfolio section
  • Click on Withdraw button under the INR wallet tab
  • You will see your available balance for withdrawal.
  • Enter the amount you want to withdraw.
  • Click on Submit withdrawal request button.
  • Your withdrawal request will be created.
  • We will process your request and funds should appear in your bank account within 48 hrs.

Yes, the Minimum withdrawal limit is INR 1000 and the Maximum withdrawal limit is INR 50,00,000.00/- per transaction.

General NEFT/IMPS/RTGS will be applied.

Square backend team processes withdrawal requests within 48 hrs.

Crypto Deposit

You can deposit crypto into the Square app by following these steps:

  • Go to the Portfolio tab
  • Click on the Deposit button under the Crypto Wallet tab.
  • Choose your crypto asset.
  • The corresponding wallet address will be displayed on the screen.
  • Use that as your deposit address and make a deposit from your other crypto app or share this address.

Bitcoin may take 1- 6 hrs and all other assets are usually instantaneous.

Square doesn’t charge any deposit charges but usual network fees will be applied.

Reasons for an unsuccessful deposit could be many, such as

  • Incorrect wallet address or Network
  • Blockchain network congestion
  • Unsuccessful withdrawal at the external platform.

If you are depositing crypto into the Square wallet means you are withdrawing funds from an external wallet.

After your withdrawal status is successful from the platform you are withdrawing then the transaction was broadcasted to the blockchain and from there it takes some time for the funds to arrive at your Square wallet as the number of required confirmations for that transaction to go through the network varies from blockchain to blockchain.

You can use the Transaction ID to check the status of your transaction in the blockchain explorer.

After the transaction is confirmed by the blockchain, your Square wallet will be automatically credited, if not please contact support@squarein.com or submit an enquiry through support ticket.

If you have sent crypto to an incorrect wallet address that doesn’t belong to Square, we are unable to provide any further assistance. You can try to contact the relevant parties for assistance (owner of the address or exchange/platform that the address belongs to).

If it belongs to Square, you can approach us with the wallet address and Transaction details at support@squarein.com.

Square app uses a enterprise-grade multi-layer technology that combines the latest breakthroughs in MPC cryptography with hardware isolation which secures funds from cyber-attacks, internal collusion and human errors, so your funds are in the safest and the most impenetrable system on the market.

Crypto Withdrawal

You can Withdraw crypto from the Square app by following these steps:

  • Go to the Portfolio tab
  • Click on Withdraw button under the Crypto Wallet tab.
  • Choose the crypto asset from your holdings.
  • Choose whether you want to withdraw via crypto network or via email or phone number.

 

Withdraw via Crypto network:

  • Paste the wallet address you want your crypto to be withdrawn to or use the camera icon to scan the QR code of the withdrawing address.
  • Enter the amount you want to withdraw, please keep the Min withdrawal limits in mind.
  • Click on Withdraw button, your withdrawal request will be submitted and you can check the details from the history page.

 

Withdraw via Email or Phone:

  • Remember withdrawal via email or phone number works only between Square users.
  • Enter the registered email address or the phone number of the user’s account you want to withdraw funds to.
  • Cross check the username displayed on the screen for the email or phone number given.
  • Enter the amount you want to withdraw
  • Click on Withdraw button.

Withdraws are usually instantaneous but may get delayed sometimes due to reasons like blockchain network congestion etc.

Square doesn’t charge any withdrawal charges but usual network fees will be charged.

It could one of the following reasons

  • Incorrect wallet address or network
  • Blockchain network congestion.

Check if you have withdrawn funds to the correct address and network.

  • We suggest you enter the address either by copy-pasting or by scanning the QR code, typing the wallet address manually is the primary cause of entering an incorrect wallet address.

If it says network busy, it means the blockchain is congested, so you can try to make the transaction after some time.

If you withdraw crypto to an incorrect wallet address that doesn’t belong to Square, we are unable to provide any further assistance. You can try to contact the relevant parties for assistance (owner of the address or exchange/platform that the address belongs to).

If it belongs to Square, you can approach us with the wallet address and Transaction details at support@squarein.com

Portfolio

The portfolio section is where you can access your Square wallets, see your crypto and INR balances, perform actions like deposits and withdrawals, and access your transaction history.

You can see the crypto you currently have and the crypto you saved using locked savings under the Portfolio tab. To access that

  • Open Square app.
  • Login to your account.
  • Click on Portfolio tab.
  • Check the Crypto Wallet tab.

You can see your current INR balance from the Portfolio tab. To access that follow below steps:

  • Open Square app.
  • Login to your account.
  • Click on the Portfolio tab.
  • Check the INR Wallet tab.

There are exclusive history pages for each function of the Square platform, such as for Crypto buy/sell (Square Flash) there is a history button on top of the screen, which takes the user to the transaction history page. You can do this for all other functions.

Or

You can open via this route Portfolio – Crypto wallet – History – Click on the section you need.

You can access your INR transaction history by following this path in the Square app: Portfolio page - INR wallet  - History - Fiat tab.

Locked Savings

Plus is a crypto savings option in the Square platform. It allows you to earn rewards by locking your crypto assets in Square app for fixed terms.

No, any fully registered member of Square platform can access Square Plus.

You save your Crypto in Square Plus by following these steps

  • Click on Plus button from the bottom of the page (second from the right)
  • Scroll the available list of plans.
  • Select a coin and a locking period.
  • Check the interest rate
  • Click on Save and Earn
  • Enter the amount you want to subscribe (keep in mind the Min and Max limits)
  • You can change the lock-in period at this point too.
  • Click on Subscribe.

Minimum and Maximum limits change from asset to asset and period to period. You will be notified of these limits on the subscription page.

Rewards/Interest rate varies from coin to coin and from period to period. You can see the current rate from Square Plus available plans page in the app.

Although we work on the supported assets list, not all crypto assets are available for Square Plus. You can access the current available list from the Square Plus page of our app.

Your crypto assets are completely safe with Square. We are obliged to return your crypto assets along with the accrued interest at the end of the lock-in period.

You can see the estimated earnings and subscription end date from the Transaction details page.

Choose whichever you are comfortable with. Typically plans with longer locking periods offer higher rewards.

No, we do not charge any fees for Square Plus.

The assets we subscribe to Square Plus are used for a variety of our business operations including but not limited to maintaining platform liquidity, lending, staking, trading, etc. Regardless of whether we generate any additional benefits by using Square Plus assets or not, we are obliged to pay the assets you subscribed to along with the accrued rewards at the end of the lock-in period.

Any rewards or interest earned on your subscription to Square Plus, along with the subscribed amount, will be auto-credited into your Square wallet at the end of the lock-in period.

Your subscription amount to Square Plus, along with any interest/rewards accrued, will be auto-credited into your Square wallet at the end of the lock-in period.

Convert crypto-to-crypto

Switch is the function where you can convert crypto to crypto instantly.

Remember you can only convert assets you have in your wallet.

  • Click on the Quick actions button at the bottom (middle button with Square logo)
  • Click on Square Switch
  • First, select the asset you want to convert from the drop-down.
  • Check your wallet balance and enter the quantity.
  • Then select the asset you want to convert into from the dropdown.
  • Check the conversion rate and the how much you would get at that rate for the quantity you selected. Remember these rates change as per market movement, so refresh the page every 5 seconds to see the new rate.
  • If you are fine with the rates, click on Convert button and you can see changes on your Square crypto wallet instantly.

No, you can only convert the assets we support in our platform. If you don’t find the asset in the Switch drop down that means it is not a supported asset for crypto conversions.

However, we keep working on the list of supported assets across functions, so each time you want to convert your crypto, check the list to make sure the asset is supported or not.

Crypto-to-crypto conversions through Square Switch is instantaneous.

Currently, we are not charging any conversion fees but there is a statutory TDS deduction at 1% on crypto conversion in India.

You will be notified of the fees and taxes, if any, on the conversion page.

Buy/Sell crypto with Fiat

Flash is one of the primary functions of the Square app where users can Buy or Sell crypto assets using fiat currency.

Before trying to buy crypto make sure you have a sufficient INR balance in your wallet. There are two ways to go to the buy crypto page in Square app

From the Crypto asset information page:

  • Click on any coin from the home page to open the coin information page, where you see the price movement and other information related to that crypto asset.
  • Click on the Buy button at the bottom of the page
  • You can see the current Buy price of the selected asset there along with your INR balance.
  • Enter quantity and click on Buy, that’s it.
  • You can go to your Portfolio page to check the balance.

 

From Flash page:

  • Click on Flash button at the bottom of the screen (second one from left).
  • Click on Buy tab
  • Select the asset you want to Buy from the dropdown.
  • Enter the quantity and click on Buy button.

Min limits will change from coin to coin and no maximum limits.

There are no Buying fees currently applied in the Square app.

Before trying to sell crypto make sure you have sufficient crypto balance in your wallet. There are two ways to go to the sell crypto page in the Square app:

From the Crypto asset information page:

  • Click on any coin from the home page to open the coin information page, where you see the price movement and other information related to that crypto asset.
  • Click on the Sell button at the bottom of the page
  • You can see the current Sell price of the selected asset there along with your current wallet balance of that asset.
  • Enter quantity and click on Sell, that’s it.
  • You can go to your Portfolio page to see the changes.

 

From Flash page:

  • Click on the Flash button at the bottom of the screen (second one from left).
  • Click on Sell tab
  • Select the asset you want to Sell from the dropdown.
  • Check the Sell price, enter the quantity and click on the Sell button.

Min limits will change from coin to coin.

No platform fees. But 1% TDS will be applied as per the directions of Govt of India.

Accessing Square account

You can login into the Square app using your registered mobile number and password followed by an OTP.

Secure PIN is an additional layer of security to your Square account and also acts as a quick method to login to your account.

You can change your Login password by following these steps:

  • Clicking on Forgot Password at the end of the Login page.
  • Providing the OTP received to your registered phone number.
  • Creating a new password.

You can change your Security PIN by following these steps:

  • Clicking on Forgot PIN at the end of the enter PIN page. 
  • Provide your account password or OTP received to your registered mobile number.
  • Creating a new PIN.

We don’t usually suspend user accounts, but in case you are not able to access your account you can reach out to support@squarein.com for help.

Know Your Customer

“Know your customer” AKA KYC is an effective way for any institution to identify, verify and confirm the authenticity of a customer. Federal institutions around the world put in place guidelines to be followed for KYC to combat money laundering and financial terrorism. So, it is required for all institutions like us to follow these guidelines.

No, you can only scroll through the app but to use our services you need complete your KYC.

Indian citizens needs to provide Aadhar number and PAN for validation.

The process is usually instantaneous, but may take 24-48 hrs during technical glitches and scheduled maintenance periods.

To finish the KYC process, you need to give us permission to access your Digilocker account and we will be sharing your Aadhar and PAN details available in your Digilocker account with KYC registration agencies (KRAs) through Signzy Technologies.

If your PAN card details are not available, we will add them to your Digilocker account through Signzy Technologies.

Note:

Digilocker is a secure cloud-based platform for storing, sharing, and verifying documents & certificates. It is a flagship initiative of Govt of India under the Ministry of Electronics & IT (MeitY) under Digital India program.

Signzy Technologies is the AMC’s approved technology application provider to fetch your Digilocker data and documents for processing your KYC.

Since our KYC process is fully automated, there is no chance of human error. The only possible reasons for your KYC to be rejected are that you may have provided incorrect Aadhar and/or PAN details or a technical glitch from the source.

You need to check whether you have provided correct Aadhar and PAN details and try to resubmit again, if you still get rejected, kindly contact our support team at support@squarein.com.

No, KYC is mandatory to use our services.

You can, because Square considers the security of the entire platform including user information as a major responsibility, and we store user information securely in specially encrypted folders on our cloud servers. 

Also, Square will not share your personal details for any purpose other than KYC with any organization other than our KYC service provider with whom we sign a non-disclosure agreement.

No, once submitted successfully you cannot change your KYC documents. If you need to change them for some reason, please contact support@squarein.com.

Starting with Square

We do not have a web version yet, so, you need to download our mobile app and get yourself registered there.

Download our mobile app and open it.

    • Press Register/Login
    • Enter required details
    • Validate your email and mobile number with OTPs.
    • Complete your KYC.
    • Add your bank account details
    • Set up a secure app pin.

That’s it, you are ready to roll.

No, but you can still scroll through the app and explore the options. But you cannot use any of the services we offer, for that you need to complete your registration and KYC processes.

No, once you have given a legal name it cannot be changed. So please make sure you enter the right legal name while registering with Square.

You can change your mobile number and email from the profile area. Please remember while changing the mobile number an OTP will go to your current registered mobile number, if you do not have your current number in your disposal, you need to contact Square customer support from your registered email address.

You can change your email address by providing an OTP you receive to your registered mobile number.

About Square

Square is a technology company with a vision to build futuristic, accessible, convenient, secure, and transparent digital infrastructure for a variety of fields including digital investments, online gaming, metaverse etc with the help of next-generation technologies like Blockchain, Augmented Reality, Virtual Reality, and Artificial Intelligence.

You can download Square app directly from Play Store or App Store using the below links;

Android:

iOS: