For those of you in Canada - New Debit Fee's?

[Timtam1963]

To all concerned about the new debit fee's are you shocked by the increase?

Okay I have to ask is there anyway of turning off the loan applications on Square?

We are small delivery business in a town of 8100, we go and pick up fast food, restaurant orders, alcohol, groceries and miscellaneous items. We pay for the item then bill the customer with the delivery fee of $10.00. 

Here is the clincher we are charged the full amount of the item delivered on top of the delivery fee, if we are lucky the customer may tip which will help offset the cost. 

Square doesn't understand the difference between reimbursement and an actual sale. How do I get Square to understand the cost of the debit transaction is costing a lot more then we like?

Confused and Frustrated.

[lenjobakes]

Hey @Timtam1963!

I'm sorry to hear you're feeling confused and frustrated! It's definitely not ideal - as a business owner you have enough to deal with.

It was a bit of a hit to have the Interac fees increase as much as they did, but apparently they're directly correlated to the increase Square received from Interac. I know I've had to pass on cost increases to my customers and that's basically the way it's been explained to me.

I think this may be the case of increasing your fee to cover the processing fees that Square is charging you. If fees can be as high as 2.9% + $0.30, then maybe a $12 delivery fee might cover more of your costs. I know I had to make adjustments to our deposit structure to cover the fact that fees for refunds were no longer being returned - it just ends up being a part of the business!

Let me know if this info is helpful or if you have any other questions/concerns and I'll do my best to help.

I know it isn't always helpful to know that you're not alone, but running a business is really hard work and that's the benefit of this community! You'll find folks who are also running businesses to commiserate with you.

[Timtam1963]

Hey Lenore,

Appreciate your response, what we have decided is we are going to charge a 1% debit/credit card fee on all of those transactions. 

Although we will not recoup the full cost of credit card fee's we do realize that this will average it out with the debit. 

Looking at viable options of averaging it out. 

Thanks Tim

[lenjobakes]

I think a fee relative to purchase is definitely feasible. And although it doesn't cover total costs, it doesn't leave you bearing the full weight of increasing costs either.

Please continue posting to the community when you find yourself with questions (re: Square or business!) and I know there are folks who would love to help, @Timtam1963!