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What are the credit card processing fees charged by Square in the US?

What are Square's fees and is it price effective?

 

I am considering the Square pos system. What are the processing fees and/or monthly hosting fees?

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VanKalkerFarms Super Seller

Re: What are the credit card processing fees charged by Square in the US?

Best Answer

Here are the standard rates for Square.  If you are a large business doing at leat $250,000 you may be able to get custom rates.  We use it in our business and have for about 5 years, and love it, no problems with deposits, and we've processed over 2 million dollars in credit card sales with Square.  The POS is always improving.  The beta released last night has brought one of the most requested features of all time into the POS.  Any questions just ask.


One of the best parts about Square is the no BS pricing.  The rate you see is what you pay, no monthly fees, no PCI complience fees, no none qualified cards fees, no american express fees, no closing fees, no monthly minimums fees, etc.

 

Screen Shot 2016-09-16 at 4.10.48 PM.png

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VanKalkerFarms Super Seller

Re: What are the credit card processing fees charged by Square in the US?

Best Answer

Here are the standard rates for Square.  If you are a large business doing at leat $250,000 you may be able to get custom rates.  We use it in our business and have for about 5 years, and love it, no problems with deposits, and we've processed over 2 million dollars in credit card sales with Square.  The POS is always improving.  The beta released last night has brought one of the most requested features of all time into the POS.  Any questions just ask.


One of the best parts about Square is the no BS pricing.  The rate you see is what you pay, no monthly fees, no PCI complience fees, no none qualified cards fees, no american express fees, no closing fees, no monthly minimums fees, etc.

 

Screen Shot 2016-09-16 at 4.10.48 PM.png

Message 2 of 18
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lrwithrow

Re: What are the credit card processing fees charged by Square in the US?

Perhaps I am having trouble with math.  I invoice $5.00 payments via email/laptop.  I receive $4.55.  3.5% + 15 cents = 30 cents' charge.  I am being charged 45 cents.  

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Admin

Re: What are the credit card processing fees charged by Square in the US?

Thanks for checking in here, @lrwithrow. Apologies for the confusion—pricing for Square Invoices is 2.9% + 30¢. For complete details on fees for different payment types, have a look at this article: What are Square's Fees? Hope this helps clear things up—let us know if any questions or concerns remain.

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Arturob00

Re: What are the credit card processing fees charged by Square in the US?

If I charge 20 dollars how much do I get??

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Russell Square

Re: What are the credit card processing fees charged by Square in the US?

Hey there @Arturob00 - thanks for making your first post to the 👥 community. 

 

I merged your post here where @VanKalkerFarms shared the credit card processing fees charged by Square in the US. 

  • If you were to swipe a payment card for $20.00, the fee charged would be 2.75% ($0.55).
  • If you were to manually enter a payment card for $20.00, the fee charged would be 3.5% + $0.15 ($0.85).

I hope this helps clear things up - happy selling! 

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SafeHaven

Re: What are the credit card processing fees charged by Square in the US?

I am confused.  I thought that manually entered transactions were 3.5% + $0.15 (not + $0.30) for a total of $0.85 for this $20 example.

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VanKalkerFarms Super Seller

Re: What are the credit card processing fees charged by Square in the US?

@SafeHaven, You are correct.  3.5% +15¢ is for manually keyed in cards.

 

I believe @Russell mistakenly typed 30¢ (which is the charge for invoices) rather than 15¢.

 

Edit: I notified them of the error and they have now corrected the post with the right amounts.

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SafeHaven

Re: What are the credit card processing fees charged by Square in the US?

Thank You!

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Russell Square

Re: What are the credit card processing fees charged by Square in the US?

@VanKalkerFarms You are 100% correct - looks like I made a typo and @puka was kind enough to edit the post to reflect the correct info. 

Thanks all!

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