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If you are using 2 accounts with the same EIN # can they have different Merchant Services Rates?

I own a coffee shop that also sells hemp products.  I am getting ready to separate the 2 and open another Square account.  Will that lower my Merchant Service rates on the coffee shop side?

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Square Champion

*** Deleted post and replaced with one below.  I misunderstood the question at first. ***

Chip

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Piper’s Ice Cream Bar, Covington KY USA
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Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

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@greensandbeans I may have misunderstood your original post.  If you are already approved in Square’s CBD program, then you are fine as far as that goes.

 

However, the splitting of your one business into two won’t be possible, at least you won’t be able to open two Square accounts with the same EIN.  You’ll need to obtain a separate EIN for the second business, or maybe you can just set up each as its own location with separate POS, etc.  I doubt that would lower your rates for your coffee shop, however, as those higher rates are based on the fact that your company sells CBD which comes with risk to Square.  The only possible way I know around that is to have to separate and distinct companies.

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
Website
Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

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@greensandbeans I’m very sorry for that original misunderstanding on my part.

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
Website
Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

जो है सो है
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