thanks for this, Square should give this greater communication a I struggled to find it and its an important change.
As the OP suggests I now have to change my terms and conditions but also reconsider my business model.
I can understand why you have done this (probably the growth in returns in fast fashion) , trouble is I have some big orders on which I allow cancellations. So the order I took at the weekend for £7k would have a £175 cost if the customer cancelled.
I can understand paying some kind of admin fee but the whole cost is unreasonable. Only 64% of your fees go to 3rd parties, the rest is for Square.
I use invoicing, terminal, virtual and reader in my business and intergrate Square with Xero. All my big payments goes through invoicing.
I had recently worked out that if I connect Xero to Stripe I can save 1% on your fees, this simple saving would cover my annual Xero fees and more. Forcing a 2.5% fee on refunds has just made that change more desirable.
