Square Fees Calculator

What is a Square?

Square is a payment processing platform that allows businesses to accept credit and debit card payments. It offers a range of services, including point-of-sale systems, payment processing, and online payment solutions. Square's platform is user-friendly and easy to set up, making it a popular choice for small and medium-sized businesses.

What fees does Square charge?

Square charges various fees, including transaction, hardware, and chargeback fees. Transaction fees are the most significant cost associated with using Square, and they vary depending on the type of transaction.

Square charges a fee of 2.6% + 10 cents per transaction for in-person transactions. For online transactions, the fee is slightly higher at 2.9% + 30 cents per transaction. Non-profit organizations can qualify for a discounted rate of 2.2% + 30 cents per transaction.

Square also charges hardware fees for businesses that use their point-of-sale system. The hardware cost varies depending on the type of equipment, ranging from \$49 for a basic card reader to \$799 for a complete point-of-sale system.

Finally, Square charges chargeback fees when a customer disputes a transaction. The chargeback fee is \$20 per dispute, and the business may also lose the transaction cost if the dispute is successful.

How the Square Fees Calculator Works

The Square fees calculator is a free tool available on Square's website that allows businesses to calculate the total cost of using Square. To use the calculator, businesses need to enter the total amount of sales and the number of transactions for both in-person and online sales.

The calculator then provides a breakdown of the total fees associated with using Square. For example, if a business had \$10,000 in in-person sales and 100 transactions, the total fees would be \$270 (2.6% of \$10,000 + \$0.10 per transaction x 100 transactions). If the business also had \$5,000 in online sales with 50 transactions, the total fees would be \$177.50 (2.9% of \$5,000 + \$0.30 per transaction x 50 transactions).

In-person transaction fees: Total sales x 0.026 + (number of transactions x 0.10)

Online transaction fees: Total sales x 0.029 + (number of transactions x 0.30)

For non-profit organizations, the formula for in-person transaction fees is:

Total sales x 0.022 + (number of transactions x 0.30)

How can I calculate my Square fees?

The Square fees calculator is an excellent tool to help businesses calculate their total fees. To use the calculator, you will need to enter the total amount of sales and the number of transactions for both in-person and online sales. The calculator will then show you a breakdown of all the fees you'll have to pay to use Square.

For example, if a business had \$10,000 in in-person sales and 100 transactions, the total fees would be \$270 (2.6% of \$10,000 + \$0.10 per transaction x 100 transactions). If the business also had \$5,000 in online sales with 50 transactions, the total fees would be \$177.50 (2.9% of \$5,000 + \$0.30 per transaction x 50 transactions).