thread Re: Why am I charged so much for fees? in Online Store

Why am I charged so much for fees?

beachy7 — Sun, 05 Nov 2023 23:55:21 GMT

I just watched the video that tells about all of the fees that are charged for different methods of payment. Nowhere did I see mention of charging 9.40%, which is what I was charged on a $5 sale. Will someone please explain this to me? Thank you.

Re: Why am I charged so much for fees?

DinaLRosenberg — Sun, 05 Nov 2023 23:57:28 GMT

Can you provide us the breakdown of what you were charged?

Re: Why am I charged so much for fees?

JK_Fiber_Art — Mon, 06 Nov 2023 15:21:59 GMT

Hi Beachy7,

As @DinaLRosenberg indicated we need more details.

Just taking a guess here:

Here's a few sceniaros for the various types of Transaction:

$5.00 Swipe, Tap or Dip Transaction
$0.23 Square Fee which is 4.6 % (2.6% plus $0.10)
$4.77 You Get

$5.00 Online Store Transaction
$0.45 Square Fee which is 9.0 % (2.9% plus $0.30)
$4.55 You Get

$5.00 Manual Key In Transaction
$0.33 Square Fee which is 6.60 % (3.5% plus $0.15)
$4.67 You Get

Then there's Invoice Fees and Afterpay Fees. And more details about fees here.

There's also a few Square Fee Calculators online that can give some ideas - note, those sites are NOT official Square sites but, can be handy for reference.