Square charges a 2.6% + $0.15 fee per transaction for tapped or inserted in-person payments, the lowest rate of any payment type.
Due to increased fraud risk, the processing fee for online payments is 2.9% + $0.30 per transaction.
Manually entered payments have the greatest risk of fraud and chargebacks and come with the highest Square fees: 3.5% + $0.15 per transaction.
When using Square to accept payments, understanding how much you’ll pay in fees (and how much you’ll actually take home!) is essential.
That’s where our Square Fee Calculator (above) comes in. Just enter the transaction amount, and you’ll instantly see how much Square will deduct and what you’ll take home.
After using the calculator, read on to understand how Square’s fees work and why calculating them is important for your business. If you want a bigger picture of what your Square POS overall pricing will cost you, use the Square POS pricing calculator below.
Square POS Cost Calculator
How Square Fees Work
Square charges a fee for every transaction, which varies depending on how the payment is accepted:
In-person payments
In-person payments refer to transactions where a customer physically taps, inserts (chips), or swipes their card on a Square reader or terminal, incurring a fee of 2.6% + $0.15 per transaction.
Online payments
Online payments occur when customers enter their card details on a website or app. Due to increased fraud risk, the processing fee is 2.9% + $0.30 per transaction.
Manually entered card payments
Manually entered card payments (keyed-in transactions) happen when a merchant manually types in the card details instead of using a card reader, resulting in the highest fee of 3.5% + $0.15 per transaction due to greater fraud and chargeback risks.
Calculating Square Fees
To determine the fee for a specific transaction, you can use the following formula:
- Square Fee = (Transaction Amount × Percentage Fee) + Fixed Fee
- For a $100 in-person transaction: Fee = ($100 × 2.6%) + $0.15 = $2.60 + $0.15 = $2.75
- Square will deduct $2.75 ($2.60 + $0.10), leaving you with $97.25
Square Fees are automatically deducted before deposits are made into your account, so knowing how much you’ll receive upfront helps with pricing and financial planning.
Check out our guide about Square POS pricing here to learn more about their subscriptions, hardware, processing, and more. You can also use the calculator below to determine how much you use with your current payment processor.
Find out how much you’re spending.
Square POS Subscription Overview
Retail (Square for Retail)
Square offers a free plan with basic POS features and payment processing at 2.6% + $0.10 per in-person transaction. The Retail Plus plan costs $89/month per location, with a reduced rate of 2.5% + $0.10 per in-person transaction, and includes advanced inventory management, product exchanges, and detailed retail reports. A Premium plan with custom pricing is available for businesses processing over $250,000 annually.
Restaurant (Square for Restaurants)
The free plan includes basic POS features with payment processing at 2.6% + $0.10 per in-person transaction. The Plus plan, at $69/month per location, offers advanced features like table management, floor plan customization, and kitchen display system integration, with additional devices at $40/month. The Premium plan provides custom pricing for high-volume businesses. Online transactions cost 2.9% + $0.30, and keyed-in transactions are 3.5% + $0.15.
Appointment (Square Appointments)
The free plan supports basic scheduling and payments at 2.6% + $0.10 per in-person transaction. The Plus plan, starting at $29/month for single users, includes advanced booking, client management, and staff tools. Premium plans for multi-staff setups have higher costs. Online transactions are 2.9% + $0.30, and manually keyed-in transactions are 3.5% + $0.15. Businesses processing over $250,000 annually may qualify for custom pricing.
Why Use a Square Fee Calculator?
Using a fee calculator simplifies your workflow and helps you:
- Quickly determine net earnings: No need for manual math. Just input the transaction amount and see the exact fee.
- Price products and services effectively: Set prices that account for processing fees while maintaining profit margins.
- Compare fees across payment methods: Decide whether it’s worth offering online payments or if in-person transactions are more cost-effective.
Other Factors to Consider
While Square’s standard fees are straightforward, a few additional factors can impact what you take home:
- Refunds – Square does not refund processing fees when a customer is reimbursed.
- Chargebacks – If a customer disputes a transaction, you may lose the amount unless you successfully challenge the claim.
- Square for Retail or Square for Restaurants – These upgraded plans have different pricing structures that could affect your fees.
Consider KORONA POS for Payment Processing Flexibility
KORONA POS is an excellent alternative for retailers like liquor stores, vape shops, and convenience stores seeking greater control over payment processing fees.
Unlike Square, which uses built-in payment processing with fixed rates, KORONA POS is payment processor-agnostic, allowing businesses to shop around for the most competitive rates from various providers.
This flexibility can significantly reduce transaction costs, especially for high-volume or high-risk retail businesses. It also offers robust inventory management and 24/7 customer support to streamline operations.
Use the Square Fee Calculator above to see exactly what you’ll receive after fees. If you’re looking for Square POS Alternatives that allow more control over payment processing, consider alternatives like KORONA POS. Sign up for a free demo by clicking below.
