Avoiding Transaction Fees

[simplyyou]

How do we avoid the fees or minimize such if we tap card is there a different fee than if we input manually 

[PolishMePretty1]

I do not think you can avoid fees when using Square payment processing. That only occurs when a client pays cash. However, you can add a "convenience fee" to your transactions, I do this for all payments that are processed online. If they are not in person, I add the % that Square charges me. Also, try not to process cards manually; the fee is higher for that. 

Remember, offering payments by card for your business are a convenience for you and your clients. Operating fees for a business are usually a tax write off. So save your receipts! 

[lashbycandice]

you pay more by manually typing in the card. The cheapest I think is if they use a debit card.

I also charge more if they use Square to pay (i.e. credit card, debit card, mobile tap etc), so I advise them to do e-transfer or cash 😊

On Aug 15, 2023, their processing fees are:

2.65% per card present transaction

2.9% + 30 cents per paid Square Invoice and Square Online sale

3.4% + 15 cents per manually entered transaction

0.75% + $0.07 per tap or insert for Interac Debit cards

Hope that helps. 

[rjonin]

Hello @simplyyou 

Transaction fees are always higher for Square when keying in manually. One of the reasons is the security risk. Check out https://squareup.com/help/us/en/article/5068-what-are-square-s-fees

You could consider using other peer-to-peer processors like Cash App, Venmo + Paypal. Those may still have a fee depending on how you transfer your money.  There's also Zelle.

Fees can be tough when you're just starting out or if business is slow. Keep in mind Square is incredibly transparent in its pricing, whereas some payment processors can leave you wondering where'd your money go?

I have recently processed transactions outside of Square when we had a recent outage and simply entered the payment as "other" to keep my accounting as clean as possible.

Hope this helps.