Why are fees being taken out of my Next Business Day Transfer?

[Sarahb01]

[This post was updated by moderator in 2020 to reflect a name change - deposits are now called transfers.]

The title of this thread has been changed from the original: Why does the “1-2 business day transfer” option say “at no extra charge”...

I’ve alwaus had “1-2 business day transfer” selected that specifically says “at no extra charge”, however-every single transfer that’s been made has had some percentage taken out because I did not receive the entire amount I charged. Why is this? And why does it say free of charge if it in fact ISN’T?!

[pessosices · Accepted solution]

Hey @Sarahb01 

There is a small percentage fee for every transaction where you Processing Credit or debit Cards through Square.

When you choose Transfer for 1-2 business days, there is no additional charge on top of that standard card processing fee. 

If you choose Same Day / Instant Transfer there is an additional fee on top of the standard card processing fee.

*You can learn more about how Square processing fees work here: Understanding Our Fees | Square Payments. Or through is informative video below! 

Hope that makes sense!

Pesso

*This reply was updated by a moderator on August 26, 2020 to offer additional visibility into Square's pricing.

[Sarahb01]

That answers it! Thank you!!