New gift card load fee?

[Addictionsbouti]

FEES!!!!! They just snuck a new one in! Every time you make a gift card for your customers they not only will charge you the 2.5 for the CC used but now there is a Load Fee for the gift card!!!!!! WTF! It already cost $1 for me to make the Gift Cards now you are going to change 5% to load it! This is outrageous!! I have been with you for 16years and you have definitely had your downs but this is it! You should be ashamed of yourselves ! SWITCHING TO A company that isn't so greedy!! I WILL NOT STOP

[Minion · Accepted solution]

HI @Addictionsbouti 

This load fee for gift cards was actually incorporated back in March of this year.  Do you sell or load many gift cards for customers?  Is using or switching to a paper git certificate if you don't sell many an option for you to avoid both a load fee and a processing fee?

[plastercarousel]

The load fee is total nonsense. Not sure why Square would double-up on fees - processing plus load for gift cards!!!

The logic doesn't make sense. Gift cards are a great way to front load customer purchases for Square and for businesses. Both of us get customers to pay in advance for something they will purchase later. Seems like a win-win. So, why get greedy and charge a load fee? This will only make businesses find an alternative solution.

With Square's double-dipping (yes, this is a Seinfeld reference), it makes more sense for me to sell gift cards I print out on my own. No load fees (but I still have to pay the fee to process the transaction which is fair). I also have to pay for the cost to print out the gift card which is like $30 for 1,000 postcard-sized gift cards.

In this scenario, Square gets their regular processing fees but not the load fee. Not sure if Square makes that much extra money with load fees but I guess someone came up with this idea for an additional revenue stream and Square ran with it. 

Definitely disappointed.