Square.com raising rates

[The Vector Doctor]

FYI, if you do online invoicing to customers through Square.com they are raising their rates soon.

The previous rate was 2.75 flat. Later this year it is going up to 2.9 + .30 per transaction. If you send lots of invoices in one year that adds up quickly. Based on what I did last year that will be $800 more per year.

I don't swipe so 2.75 flat was a good rate for me. I don't know if the swipe rates are changing

 

[TXFB.INS]

looks like the rates are already in place

https://squareup.com/help/us/en/article/5068-what-are-square-s-fees

 

[The Vector Doctor]

looks like the rates are already in place

https://squareup.com/help/us/en/article/5068-what-are-square-s-fees

For existing customers the rates go into effect in September.

 

[Billct2]

I was just considering switching to Square. Isn't that still cheaper than a lot of others? And no terminals to deal with.

 

[The Vector Doctor]

I was just considering switching to Square. Isn't that still cheaper than a lot of others? And no terminals to deal with.

Yes I believe it is a good rate but I don't know how it compares to swiped cards. That I am not able to do remotely

I don't have any plans to switch unless something better comes along. Unfortunately over time banks and card processors add various fees. The honeymoon is over

 

[royster13]

I mostly use Square invoices which are 2.75% in Canada....

 

[The Vector Doctor]

I mostly use Square invoices which are 2.75% in Canada....

Unless Canada is the exception, you likely will be paying the new rate soon