thread Re: Why do you charge fees on cash transactions in Online Store

Why do you charge fees on cash transactions

Chris457 — Tue, 02 Aug 2022 22:31:40 GMT

So why are we being charged fees when some of the actions recorded on our terminal are for cash - when you claim the fees are only for card transactions

Re: Why do you charge fees on cash transactions

Chris457 — Tue, 02 Aug 2022 22:39:36 GMT

When your own information says

Recorded Cash, Cheques and Other Tender

Free

Re: Why do you charge fees on cash transactions

Breffni — Wed, 03 Aug 2022 07:12:38 GMT

Hi there @Chris457, thanks for your post.

It seems like there may be some confusion here, there’s no fee to accept other tender types, such as cash. When you accept other tender types, Square doesn’t process any funds and functions only as an organisational tool. Money for these transactions is exchanged directly between you and your customer and will not be transferred by Square. Square's fees are per card transaction only.

I'd be happy to look into this with you to help clarify, I'd you'd like to send me an example transaction where you are you believe there's been a mistake, either here or via DM which you can access by hovering over my name in this thread.

Thanks.

Re: Why do you charge fees on cash transactions

Chris457 — Wed, 03 Aug 2022 18:50:39 GMT

It seems that I am being charged fees for cash transactions like below

Total Collected £217.30

Cash £23.80

Card £193.50

Gift Card £0.00

Other £0.00

Fees -£3.49

Net Total £213.81

Fees should be £3.39 so where does the extra £0.10 on fees come from?

Chris brine

Re: Why do you charge fees on cash transactions

Sam_400º — Wed, 03 Aug 2022 19:37:34 GMT

Hey @Chris457 - Fees are charged on card transactions only at 1.75%. As they are calculated on a transaction level there will be a degree of rounding to the nearest penny.

There is a full fee breakdown in your transaction history where you can see (and check the maths if needed) the fees charges to each transaction.

Re: Why do you charge fees on cash transactions

Chris457 — Wed, 03 Aug 2022 19:49:49 GMT

I know how to do the maths but when an extra 10p is added to the fees one wonders why and how them times does this happen?

Re: Why do you charge fees on cash transactions

Sam_400º — Wed, 03 Aug 2022 21:24:06 GMT

@Chris457 I think we've got crossed wires.

Check out your transactions for the fee breakdown on each transaction. Here you'll be able to confirm what transactions have fees attached to them (just the card transactions).

If you calculate the fees from the total processed this won't give you an accurate representation as they are calculated per transaction.

This is one of my transactions taken at random:

With the fee calculated on the transaction at 1.75% this is 15.8p - so rounded to 16p for this one.

If I make 100 sales of the same £9.04 amount then the fees charged will be 100x 16p. So my fees would be £16, not £15.82.

This is how all processors do their sums as far as I've found. Fortunately Square also refund processing fees if you process a refund, so with it calculated at a transaction level it makes that possible too.