Will ACH payments automatically pay towards my Square Loan?

[Mguerrero08]

Hello! Do you guys know if when I take a ACH payment it will automatically pay towards my square loan? I need it to be paid but I’m not sure if I need to make the payment manually or if it takes it out automatically! Thank you, I hope I make sense 

[marielmt · Accepted solution]

Hi @Mguerrero08!

That’s a great question, I’d be happy to clarify.

The repayment rate will be applied to your gross card sales, including tips and taxes paid by your customers using a credit or debit card, ACH payments, and QR code payments made with the Cash App. Please note that your repayment rate applies in addition to Square’s processing fees for these transactions.

Hope that helps, please feel free to reach out to us directly if you have any other questions!

[Summer2024]

Thanks for clarifying here @marielmt !

Please let us know if you have any other questions @Mguerrero08 😁