Fee Question

[throughthedutch]

When I receive an order online or in person, the fee percentage differs from what Square is advertising.  For example, tonight I got a single order for $18.  My fee percentage was 4.41%.  Why was it so high?

[Laurie_]

Hi there @throughthedutch,

Thanks for raising this question!

I can confirm that the processing fee for Square Online transactions is 2.9% +30c. For in-person card-present transactions, your processing fee will be 2.6% + 0.10c. 

Can I ask how you calculated the 4.41%? Additionally, have you enabled the option to accept Afterpay payments through your Square account?

We can provide general fee information via the Seller Community platform, but to investigate a specific payment, you would need to contact our Support Team so they can investigate this further with you. If you'd like to speak with our Support Team by phone, you can give us a call at 1-855-700-6000 between 6 am - 6 pm Pacific Time Monday - Friday. You can also get in touch with our Messaging and Email Support Teams here: squ.re/contactsqsupport.

[throughthedutch]

It shows up on my report for online sales for the day. I didnt calculate, that's just what it says on there. It doesn't appear that I can attach a photo to this message but I can screenshot it if that helps.

[throughthedutch]

So my order received was 45.46. My fee was 1.91. Thats more than 2.9% 

Another order received was 19.48 and my fee was .86. 

[Candlestore]

@throughthedutch 

The $45.46 and fee of $1.91 I am getting 1.62 or so unless there are other fees I am missing like a door dash or other outside fee. 

45.46 *2.9% or .029 = 1.31834 plus the .30 Per transaction 

The $19.48 transaction I am getting a Square fee of .86.

19.48 * 2.9% or (.029) = 0.56492 + the .30 PER transaction is equal to .86492.... rounded to .86 Square fee.

The additional PER transaction fee is what throws everyone off.

If you go to your Transactions in your dashboard on a computer you will see the Transactions for the date or date range you select.  If you select a Transaction you will see a receipt and at the bottom is an explanation of the fees you are charged.  For example:

So here the 22.23 would be multiplied by 2.6%  Then for this transaction another .10 is added for a total of $0.68 fee for a Tapped transaction.

Here is a link to the Transactions Page : https://squareup.com/dashboard/sales/transactions

I think you can see all your transactions there including your online charges.   The reports just lists the Total fee and does not show this as well.  You can also see these % and Per charge fee on your Transactions Details CSV file if you download them.

Columns AV and AW show your Percentage and your Fixed rates and Column U shows the Total Fees.

      AV          AW  

Fee Percentage Rate	Fee Fixed Rate
2.6	$0.10

    U

Fees

($3.20)

If you have any more questions let me know.

[Candlestore]

@throughthedutch;

For an Online (Card not Present Order)

$18.00 charge at 2.9% = .522 or .52 cents

Plus the .30 cents Per transaction would be .30 + .52 =.82

.82 cents of an $18.00 transaction would be about = to 4.5555% or 4.56% rounded  This would be the effective rate after all fees from Square of the 2.9% online % Plus the .30 cents per transaction

As you see above if you Manually enter the Credit card numbers you would be at 3.5% Plus the $.15 cents per Transacation.  How do you run a credit card with Square, using a reader to Swipe, Dip, Tap or do you manually type in the card numbers?

Here is more on Squares Fees :

https://squareup.com/us/en/pricing 

[throughthedutch]

Normally I would dip or tap in person but these were online orders that were submitted by the customer.