Does Square Reader charge Monthly? Or just a percentage?

[silva]

Hi I just got my reader today. I linked my savings account to it. I won't make sales until maybe a month or so. My business is super super slow. Does this card reader charge monthly? or does it charge just the per transaction fee?

(Note: As of 2019 Square's per tranaction fee for transactions that are tapped, dipped or swiped is 2.6% + 10c. To learn more, visit our Support Center.)

[Ron · Accepted solution]

Just the per transaction fee for each swiped or dipped charge. No monthly fees!! Hope this answers your question. You can learn more about how Square processing fees work here: Understanding Our Fees | Square Payments. Or check out this informative video!

[This reply was edited by a moderator on August 26, 2020 to offer more visibility into Square's pricing structure.]

[silva]

Thank you Sooooo Much Ron!! I appreciate your time to help me answer my question. I was worried that it would charge me monthly out of my savings account. Thanks you again!!

[Ron]

@silva  My pleasure, glad I could help.

[debkopkovitale]

what is the percentage charge without the card reader?

[Ron]

No percentage charge for cash purchases. You only pay a fee for credit/debit charges. Fees are below.

[bunyan109]

What is the fee for the test sale you do when you first set up your account?  I have not received my reader yet so I typed in the data.

Thanks for your help.

[personal information redacted]

[Tom]

Hi @bunyan109, welcome to the seller community! There's no fee to do a test payment — just be sure to refund the payment and you'll receive the full amount back. For more specifics on fees, have a look here: What are Square's Fees?

Hope this helps clear things up. 🙂

[JV13]

Where am I able to draw the monthly cost for the service from?

[Laurie_]

@JV13 thanks for reaching out and welcome to the Seller Community!
 

It's free to use Square Point of Sale, we charge on a per-transaction basis for card payments. If you need to view a summary of the fees charged on your card payments, you can generate a Sales Summary Report to view this information.

You do have the option of subscribing to a paid service, however, such as Square Appointments Plus. 

If you are using a paid service with Square and want to view your plan details, navigate from your online Square Dashboard to Account & Settings > Business > Pricing & Subscriptions.

Let us know if you have any further questions here.

[Cnagel24]

My business doesn't have very many credit card transactions, it's mostly cash. Is there a monthly minimum for credit cards transactions  that square requires for my account to stay open? 

[VanKalkerFarms]

No, that is one of the great features of Square, there are no monthly contracts or monthly fees or monthly minimums.  So you can use it once a month, or weekly, or daily and it won't matter.  I believe you will find that once a customer can pay with a credit card they are much more likely to buy more than they would have with cash.  It's a subliminal connection between numbers on a bill going up vs cash leaving their hands.

Good luck and post any questions you come up with here.

[BobG095]

OK, I get that it charges a fee on transactions, but while browsing the site I recall coming across dormancy charges. Are there and if so, what are the charges. I only go to a few events a year were I need to process cards.

[VanKalkerFarms]

There are no fees for accounts after any period of inactivity.

[Sean]

Thanks for your help with this one, @VanKalkerFarms. 

Hi @Cnagel24 and welcome to the Seller Community! I went ahead and combined your question with another thread that covered the same topic. I'd encourage you to search a bit before posting, not that we don't want to hear from you! 

[Cnagel24]

Thank you, @Sean! This thread actually does not cover the question I asked. I was not asking about a monthly fee. I did search and saw nothing on minimum transactions per month, only on monthly fees, which is why I created a new question. However I do appreciate the help. Thank you!

Also, Thank you @VanKalkerFarms for answering my question!