thread Re: Recoup processing fees in Archived Discussions (Read Only)

Recoup processing fees

Angelab2 — Wed, 28 Dec 2022 18:15:54 GMT

I am currently at 2.6%+10* per transaction. I would like to be able to turn this fee over to customers with having to compute each time a transaction comes through. Any suggestions. I have an older version of square and it doesn’t give me the option for service charges without upgrading app then I would need to upgrade iPad. Just not really wanting to do this right now.

Re: Recoup processing fees

Gold — Thu, 29 Dec 2022 12:50:55 GMT

HI, hopefully this Square Support page will help.

To keep your older version of Square, Surcharges are not available.

Update to new Square, Surcharges can be applied.

https://squareup.com/help/us/en/article/7625-get-started-with-service-charges

Re: Recoup processing fees

Candlestore — Thu, 29 Dec 2022 22:03:30 GMT

@Angelab2 ;

the other way to do a recoup would be to offer a Cash Discount. I know I keep getting offers from other Credit Card Processors and one just told me legally you can not charge a Credit Card Processing fee over the amount that was charged to you. So you would have to calculate each Process Fee to Charge the customer only that fee.

But if you say raise all your prices by 3% - 5%, this should cover the Square Fees. Then to only charge the people using the Credit card this fee give a Cash Discount of the 3% - 5% which bring the price back down to what it was before you put Squares Fees in your Items pricing. Plus people like a Discount over; " well since you are using a Credit Card we add this Service Fee to your Bill". Just make sure you have signs and notices where people get their bill or pay it offering the Cash Discount. Hope this helps.

As always check your local Laws to see what they are since each State or county may have different laws about this.