For one single fundraiser over the last 2 weeks, we were charged 10.5% in fees. As of last year, with online card payment transactions, we were only charged less than 4% in fees. I cannot find the current list of fees per payment type. Were fees just increased more than double? This is absurd, please help!
Here are the current fees for square: https://squareup.com/us/en/payments/our-fees
The highest online fee for a customer not on a paid plan is:
3.3% + 30¢
So if you had an average online transaction amount of 4-5$ then I could see the effective fee rate being around 10%, but that is a very low average transaction amount. If you are doing 10$ transactions then you are around 6% effective, an 20$ transaction is around the 4.8%. Hope this helps.
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