Fee Calculator Square

Square Payment Fee Calculator

In-Person (Swipe, Dip, Tap) – 2.6% + 10¢ Online Store / Invoices – 2.9% + 30¢ Manual Entry (Keyed-in) – 3.5% + 15¢

Calculation Summary

Total Square Fee

$0.00

Net Amount (You Keep)

$0.00

To receive exactly $100.00:

You should charge: $0.00

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Understanding Square Processing Fees

Square is one of the most popular payment processors for small businesses due to its transparent pricing and ease of use. However, the costs of processing credit cards can eat into your profit margins if you don't account for them properly. Our Square Fee Calculator helps you determine exactly how much you will pay per transaction and how much you need to charge customers to cover those costs.

Square Fee Structure for 2024

Square categorizes transactions into three primary types, each with its own percentage-based fee and fixed per-transaction fee:

• In-Person Transactions: When a customer uses a card reader (swipe, chip, or contactless), the rate is 2.6% + $0.10.
• Online Transactions: For sales through the Square Online Store, Square Checkout, or Invoices paid online, the rate is 2.9% + $0.30.
• Manual Entry: If you manually type a credit card number into the POS or Virtual Terminal, the risk is higher, so the rate increases to 3.5% + $0.15.

How the Calculation Works

The math behind a standard Square fee is straightforward. If you sell an item for $100.00 via an In-Person tap:

1. Multiply the amount by the percentage: $100.00 × 0.026 = $2.60
2. Add the fixed fee: $2.60 + $0.10 = $2.70 total fee
3. Subtract from the original amount: $100.00 – $2.70 = $97.30 (Your Net Profit)

The "Gross-Up" Formula

If you want to ensure you receive exactly a specific amount (for example, you want $100.00 in your bank account), you must "gross up" the charge to the customer. You cannot simply add the percentage back, as the fee applies to the new higher total. The formula used is:

Charge Amount = (Desired Net + Fixed Fee) / (1 – Percentage Rate)

Using our calculator above, you can quickly find this "Reverse Fee" amount without doing the algebra manually.

Tips for Minimizing Square Fees

To keep more of your revenue, consider these strategies:

• Always use the hardware: Avoid manual entry whenever possible, as the 3.5% rate is significantly higher than the 2.6% card-present rate.
• Minimum Purchase Amount: For small transactions (e.g., $5.00), the fixed $0.10 fee represents a much larger percentage of the sale. Some businesses set a $10.00 minimum for credit card use.
• Encourage Contactless: Tap-to-pay is fast, secure, and qualifies for the lowest in-person rates.

function calculateSquareFees() { var amountInput = document.getElementById('transactionAmount'); var amount = parseFloat(amountInput.value); var type = document.getElementById('transactionType').value; if (isNaN(amount) || amount <= 0) { alert('Please enter a valid transaction amount.'); return; } var rate = 0; var fixed = 0; if (type === 'in-person') { rate = 0.026; fixed = 0.10; } else if (type === 'online') { rate = 0.029; fixed = 0.30; } else if (type === 'keyed') { rate = 0.035; fixed = 0.15; } // Standard Fee Calculation var totalFee = (amount * rate) + fixed; var netAmount = amount – totalFee; // Gross-up Calculation (Reverse Fee) // (Amount + Fixed) / (1 – rate) var grossCharge = (amount + fixed) / (1 – rate); // Update UI document.getElementById('totalFee').innerText = '$' + totalFee.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('netAmount').innerText = '$' + netAmount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('targetLabel').innerText = '$' + amount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('grossCharge').innerText = '$' + grossCharge.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resultsArea').style.display = 'block'; }