What are the hidden fees with Square?

Hidden Fees to Watch Out for with Square

Square, a popular mobile payment processing service, offers a seemingly straightforward pricing structure. However, it’s important to be aware of potential hidden fees that can add up over time.

Depending on the plan and payment method you choose, additional costs may apply:

• ACH Transfers: A 1% fee, with a minimum charge of $1, is incurred for each ACH transfer.
• Additional Services: Square offers a range of add-on services that may come with additional costs, such as payroll processing, gift cards, and invoice generation.

Before signing up with Square, it’s crucial to carefully review your chosen plan and consider the potential for hidden fees based on the services you intend to use. This will help you make an informed decision and avoid unexpected expenses.

Tips for Avoiding Hidden Fees:

• Choose the plan that aligns with your specific needs and transaction volume.
• Opt for payment methods that minimize fees, such as credit cards or debit cards.
• Be mindful of the costs associated with optional add-on services.
• Regularly monitor your account statements to identify any unauthorized fees or charges.

By understanding the potential hidden fees associated with Square, you can take steps to minimize their impact and ensure that you only pay for the services you need.