This Square fee calculator is here to help you determine how much you can expect to spend when managing transactions through Square. All payment processing systems have their own costs to consider – some more than others.
Square can be particularly difficult to get your head around as a new business owner because it has so many different fees to think about. The costs you’ll pay for transactions vary depending on whether you’re running an ecommerce business, brick and mortar store, or even a restaurant.
In general, in 2023, Square charges around 2.9% plus 0.30 cents for each transaction. To save you the effort of figuring out those fees yourself, all you need to do is enter your numbers into the calculator below, and you can automatically determine how much you’ll pay.
Square Transaction Fees
Square, like many payment providers, comes with a host of transactions to consider, depending on what kind of transaction you’re handling. If you’re using the payment processing POS app, you can expect to pay different costs based on how the card is processed, for instance:
- Square POS: 2.7% for swiped or contactless cards, 3.5% plus 15 cents for card-not-present
- Square Register: 2.6% plus 10 cents for swiped/contactless, or 3.5% plus 15 cents for card-not-present
- Square Terminal: 2.6% plus 10 cents for swiped/contactless, or 3.5% plus 15 cents for card-not-present
- Square Appointments (Individuals): 2.7% for swiped/contactless, or 3.5% plus 15 cents for card-not-present
- Square Appointments (Teams): 2.5 + 10 cents for swiped/contactless, or 3.5% plus 15 cents for card-not-present
- Square Retail: 2.5% plus 10 cents for swiped/contactless, or 3.5% plus 15 cents for card-not-present
- Square Restaurants: 2.6% plus 10 cents for swiped/contactless, or 3.5% plus 15 cents for card-not-present
For Ecommerce transactions, you will pay an average of 2.9% plus 30 cents for every online transaction processed in your store.
What Kind of Square Fees do You Pay?
Square isn’t the most, or least expensive payment processor in the world. The solution has various fees which can stack up depending on what kind of business you want to run. Different requirements come with different expenses. For instance, invoices come with a fee of around 2.5% per payment, like online checkout link recurring costs, POS app card on file payments, and virtual terminal card payments. Square ecommerce API has a 1.9 to 2.9% fee, and Inserted chip cards start at 1.75%.
The great thing about Square is that although there are various transaction fees to consider, you can at least rest assured you won’t have to pay for your website. Square Online stores are free to create, and they sync perfectly with your offline store, so you can track credit card transactions whenever they happen. If you do have an offline store, however, there may be additional fees to plan for there.
Aside from using Square for your merchant services, you’ll also be using them for your card reader or offline technology. Make sure you know how much it costs to not only purchase the point-of-sale technology, but how much the processing fees are for in-store payments.
The costs of taking online payments with Square can differ from the expenses you need to consider in real life. In general, Square’s online disclaimer indicates that pricing will be the standard 2.6% plus 10 cents whenever you’re swiping, tapping, or dipping a card. The flat rate pricing is a nice alternative to having to pay different costs for every kind of Stripe transaction.
Other Common Square Costs
Remember, when you’re accepting payments through Stripe, there will be various additional fees you may need to consider, just like taking payments through PayPal and Stripe. Fees include:
- Credit card processing: We’ve covered the majority of the credit card fees above. Taking credit and debit card transactions will usually cost you around 2.9% plus 30 cents when you’re managing transactions online.
- Square invoicing: If you need to invoice your customers to get the right cash into your bank account, you’ll pay around 2.9% plus 30 cents for every online invoice sent, unless you’re using the card on file system. This service can be helpful for remembering customers as an online merchant, but you’ll pay 3.5% plus 15 cents, because these payment methods are considered the same as card-not-present transactions.
- Keyed and terminal fees: If you’re managing a high volume of sales, it’s often best to ensure that your customers have their cards available. Flat-rate pricing from Square without a card present will cost around 3.5% plus 15 cents per transaction.
It’s also worth checking out things like chargeback fees when you’re using our Square fees calculator, to help you better understand the total amount you’ll pay whenever you use Square online or a Square reader. Don’t forget, the cost of getting your cash into your bank account can also eat into your earnings depending on the total amount you’re transferring. There are also costs for transferring your transaction amount from another currency into USD.
