When are fees charged on a transaction?

[15paulyg15]

The title of this thread has been edited from "Transaction Fees"

For example I swipe or use chip reader at my place of business like a bar and I get 50 swipes or chips in a day am I charge on each individual person or is it one charge of the 2.6% at the end of the day?

[Joe]

Hi there, @15paulyg15 - thanks for taking the time to post here on the Seller Community! We hope this space can be a helpful resource to get answers to questions and explore new ideas with fellow Sellers. Please let us know if you need anything.

In regards to your question about fees, Squares processing fees are taken on each transaction and the rate is dependent on how the transaction is taken (swipe, dip, manual card entry, etc). You can learn all about processing rates and fees here. 

Let me know if you have any additional questions. I am here to help! 

[Cory214]

Hello,

When Square deposits to your bank account do they deposit the whole amount and then take our the fee or do them just do one deposit with the fee already removed?

Example one: (two separate transactions)

$100 deposit

3% withdrawl of $3

Example two:$100 with 3% fee

$97 deposit

Thanks

[ashc]

Hi @Cory214 and welcome to the Community.

I moved your post to an existing thread where this question has been answered already.

Check out the answer above from @Joe.