Is a surcharge the same as squares transaction fees?

ZoomezPet — Tue, 06 Dec 2022 20:00:04 GMT

Is a surcharge the same as squares transaction fees? Do I need to apply two separate fees for the credit card company and for squares fees? or are they the same? How do I apply these fees to the consumer at checkout? Thank you in advance.

Re: Is a surcharge the same as squares transaction fees?

JK_Fiber_Art — Tue, 06 Dec 2022 22:22:53 GMT

Hi Zookezpet,

Surcharges and transaction fees are two totally different items. A surcharge is what you would pass on to the customer to cover your transaction fee or the cost to process total purchase price. You want to be careful if you plan to pass on your costs to your customers as each credit card company has specific guidelines for doing so. Suggest seeing this link before making that decision. As an alternative, you can charge or add a handling fee to the purchase - easier and more acceptable - just make sure your customers are aware of the addition charges. Better yet, consider increasing your item or service costs - doing so covers your costs and your customers or clients don't feel like you're taking advantage of them.

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Is a surcharge the same as squares transaction fees?

Re: Is a surcharge the same as squares transaction fees?