Solved: Re: Why am I being charged more than the advertise...

adluxmedia · ‎04-09-2017

I am just starting up my business. We have our website through wix.com and have integrated Square. I created a few test purchases, and I'm finding that the fees are higher than the 3.5% +15c.

For instance, right now I tried a $2 payment in my home state, which has 7% sales tax. The charge came in as $2.14.

The fees listed are 36c, with a deposit to my account $1.78.

By my calculations, I should be seeing a fee of 15c + 7c = 22c, not 36c.

Can you explain where the other 14c fee is coming from?

By the way I've tried this on several purchases with different prices, and always am coming out with higher than expected fees, so this is not a one-time miscalculation.

Chad · ‎04-12-2017

Hey @adluxmedia, I can provide some clarification.

Square's fee for E-Commerce is actually 2.9% + 30 cents. I can see how this might have been concerning, but with the proper rate applied you can see that the amount collected is correct.

If you have any other questions please let me know! 😀

PS) If my answer solved your problem, would you mind marking it as "Best Answer"? That'll help the rest of the community find what they're looking for. If not, just write back, and I'll continue to help. Thanks!

View Best Answer >

jjgard · ‎04-10-2017

Hmmm. Your math checks out from what I can see. I'd suggest contacting Square Support directly. They'll be able to pull up your account and figure out what is going on.

Chad · ‎04-12-2017

Hey @adluxmedia, I can provide some clarification.

Square's fee for E-Commerce is actually 2.9% + 30 cents. I can see how this might have been concerning, but with the proper rate applied you can see that the amount collected is correct.

If you have any other questions please let me know! 😀

PS) If my answer solved your problem, would you mind marking it as "Best Answer"? That'll help the rest of the community find what they're looking for. If not, just write back, and I'll continue to help. Thanks!

JAG3 · ‎11-29-2019

The same has happened to me, but I asked for same day deposit and this is still taking 2 days to hit my account and being charged for same day deposit fees.

I should be not charged a fee at all if money is arriving 2 days after purchase.

Thank you

JAG

Why am I being charged more than the advertised transaction fee?