How does Square breakdown fees and auto savings?

PerroneTech · ‎08-13-2021

I was wondering, how does Square breakdown the different fees for merchant fees and then auto savings.

For example:

I have a loan repayment going on currently. I think it's 12.5% per transaction. Then squares fees. Then I have 3 auto savings accounts. One aggressive one at 20%, one at 6% for taxes, and one at 3% for a rainy day fund.

How does Square break it down? From the initial total or what's left after each step? Which fees take priority?

Orlando Perrone
Owner
Perrone Technologies: The Computer Shop
www.perronetech.net

sayra · ‎08-14-2021

Hey @PerroneTech,

Great question!

You can get really good insight as to how Square manages Square Loan Repayments here. When it comes to calculating loan repayments since every case is different this will depend on several things. My suggestion is to contact our capital team who will have more insight into your account specifically.

Give us a call when time permits so you can talk to a capital specialist.

Sayra
Community Moderator, Square // Moderadora de la Comunidad, Square
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