Credit card transactions typically have higher fees than debit card transactions. The payment method you choose affects your Square fees. For example, swiped transactions have lower fees than keyed transactions. The type of transaction you process affects your Square fees. Square offers volume discounts to businesses that process more than $250,000 in transactions per year.

The higher your transaction volume, the lower your Square fees. Some of the most significant factors include: Transaction volume It allows you to plan for the fees associated with your Square transactions, so you can allocate your funds accordingly. Using a Square Fee Calculator helps with budgeting. Using a Square Fee Calculator ensures accurate fee calculation, so you know exactly how much you are paying in fees. Manually calculating Square fees can lead to errors, which can result in a loss of money for your business. This way, you can focus on other aspects of your business. Instead of manually calculating your Square fees, the calculator does it for you. Using a Square Fee Calculator saves you time and money. Hardware costs: If you purchase Square hardware, such as a Square Reader or Square Stand, there will be upfront costs associated with these products.īenefits of Using a Square Fee Calculator Saves time and money.Instant Deposit: If you choose to receive your funds instantly, Square charges a fee of 1.5% of the deposit amount.Virtual Terminal: If you manually enter a transaction using the Virtual Terminal, the fee is 3.5% + 15 cents per transaction.Square for Restaurants: If you use Square for Restaurants, you’ll pay a monthly fee of $60 per location, plus processing fees.Chargeback fee: If a customer disputes a transaction and requests a chargeback, Square charges a fee of $20 per instance.For ACH Bank Transfers in the “Invoices” category, there is no fixed transaction fee, only a percentage-based fee of 1% with a minimum of $1. Note: The fees have been updated on and “Transaction Fee” refers to the fixed amount charged per transaction, in addition to the percentage-based processing rate. Online (Square Online Store, Square Online Checkout, eCommerce API) (Payment Amount * Percentage Fee) + Fixed Feeįor instance, if a customer pays $50 in person via Square Terminal, your fee will be ($50 * 0.026) plus the fixed fee. To compute any Square fee, you may apply the given formula: The Square Fee Calculator will then show you the total fees associated with your transaction.

Square transaction fee swipe in store