Transfer Question

ccsc1 — Fri, 10 Jan 2020 23:37:58 GMT

New to Square and wondering whether each individual transaction is transferred or is it a bulk amount that hits your account each day? And is the amount transferred minus the processing fee?

Thanks 🙂

Re: Transfer Question

Seamus — Mon, 13 Jan 2020 00:33:36 GMT

Hey @ccsc1,

Thanks for getting in touch!

Square deducts processing fees on a per-transaction basis - so if you process a $100 payment at 1.9%, we'd take out $1.90 and you'd receive $98.10 from that payment.

Square transfers funds to your bank account in a bulk lot on a next business day basis - so the overall deposit amount will be all payments from the previous business day, minus the transaction fees we took per payment.

Hope this helps, let me know if you have any more questions 🙂

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Transfer Question

Re: Transfer Question