Square Fees & Pricing: 2023 Guide + Calculator
This article is part of a larger series on Payments.
Square is a payments, point-of-sale (POS), and business management tool for small businesses. It has no contracts, minimum requirements, or upfront costs for its software or payment processing tools. The basic software is free, and any upgrades are billed monthly. Square deducts a flat fee on successful payment transactions, and you get low-cost hardware, with interest-free installment plans for qualified purchases.
Square Payment Processing Fees
Payment Type | Transaction Fee |
---|---|
In-person, mobile, and gift card payments | 2.6% + 10 cents per transaction |
Invoiced and Online payments | 2.9% + 30 cents per transaction |
Recurring billing and card-on-file transactions | 3.5% + 15 cents per transaction |
Keyed-in payments (virtual terminal) transactions | |
ACH Bank Transfers | 1% with a $1 minimum transaction |
Square offers a lower processing rate for businesses that purchase Square Register or Square Terminal hardware or Square Retail or Square Restaurant software.
Lower rates are also available for businesses processing over $250,000 annually.
For more information when comparing Square fees to other payment processors, see our list of cheapest payment processing companies.
How Square Fees Work
Overall, Square offers some of the best merchant services tools for new and small businesses. You’ll get the same core features and services for whatever payment methods you use—in-store, online, or virtual terminal.
- No monthly fee to accept and process credit cards
- All payments and sales are tracked together in your Square dashboard
- Accept Visa, Mastercard, Discover, and American Express, plus contactless payments
- Same Square transaction fees for all cards and card types: debit, credit, prepaid, rewards, and corporate
- Deposits made within one to two business days
- Instant deposit available for an additional fee of 1.75%
- Chargeback protection free for sellers and covers disputes up to $250 per month
- Custom Square pricing for sellers with annual revenue over $250,000 and average ticket size over $15
In the news:
Effective April 11, 2023, Square announced a 0.25% increase in the Square payment fees for instant fund deposits from 1.5% to 1.75%. It will also no longer refund merchant transaction fees for purchases returned by customers.
To learn more about Square processing fees check out our full Square Payments review. You can also find out how to use Square to process credit cards.
Square POS Fees
Square offers a free POS system with every free Square Payments account. When you sign up with Square, you’ll instantly have access to inventory, order, sales, and customer management tools through the free POS. However, Square also offers specific POS software for retail, restaurant, and appointment-based businesses.
Square POS Software Fees At-a-Glance
Square POS | Square for Retail | Square for Restaurants | Square Appointments | |
---|---|---|---|---|
Monthly Fee | $0 | $0–$60+ (per location) | $0–$60, $40/month per device, $50/month per location | $0–$69 (per location) |
Custom Plan | N/A | 250,000+ card sales/year | 250,000+ card sales/year | 250,000+ card sales/year |
Free Trial | N/A | 30 days | 30 days | 30 days |
Square POS
The basic Square POS software is a simple but versatile system designed for startup retail, service, and restaurant businesses with simple inventory management needs. It conveniently integrates inventory, checkout, payments, CRM, ecommerce, and analytics in your point of sale. You can add more features as your business grows, but the best part of this software is no monthly subscription fee.
Square’s basic POS system is free to use and can be designed to support different types of startup businesses. (Source: Square)
Features you get with the free POS system:
- Inventory management
- Cash, mobile, debit, credit, and gift card payments processing
- Invoicing
- Website builder
- Virtual terminal
- CRM
- Offline credit card payment processing
- Returns and refunds processing
- Tip management
- Digital and printed receipts
Learn more about Square’s free POS software with our Square POS review.
Square for Retail
Square for Retail is a POS system designed specifically for retail businesses of all sizes, such as boutiques and gift shops. It has advanced inventory, online sales, checkout tools, and reporting.
Square for Retail includes advanced reporting and inventory management tools for omnichannel selling. (Source: Square)
Square for Retail Pricing Plans
Square for Retail offers a free option, a Plus tier that contains all of the advanced retail functions, and a Premium plan that provides access to Square’s other business tools like Marketing and Payroll. All options provide unlimited products, transactions, employee logins, and a free online store.
Free | Plus | Premium | |
---|---|---|---|
Monthly software fee | $0 | $60 per location | Custom rate |
In-person processing rate | 2.6% + 10 cents | 2.5% + 10 cents | Custom rate |
Online processing rate | 2.9% + 30 cents | 2.9% + 30 cents | Custom rate |
Online store features | Basic | Basic | Advanced |
Inventory management | Basic | Advanced | Advanced |
Reporting | Basic | Basic | Advanced |
Team management | Basic | Basic | Advanced + Payroll |
Square Marketing | Additional cost | Additional cost | Included |
Loyalty program | Additional cost | Additional cost | Included |
To learn more about Square for Retail, read our full Square for Retail review.
Square for Restaurants
Square for Restaurants is POS software designed for quick-service, full-service, fast-casual, bar, and multi-concept restaurants. It offers restaurant-specific features, such as floor management, kitchen management, customizable and intuitive order entry, and flexible payment options.
Square for Restaurants allows businesses to manage online, tableside, and at-the-counter orders centrally. (Source: Square)
Square for Restaurants Pricing Plans
Free | Plus | Premium | |
---|---|---|---|
Monthly software fee | $0 | $60 per location, $40 per additional device | Custom rate |
Processing fee (in-person and invoice payments) | 2.6% + 10 cents | 2.6% + 10 cents | Custom rate |
Processing fee (online payments) | 2.9% + 30 cents | 2.9% + 30 cents | Custom rate |
Customer support | Monday to Friday, 6 a.m. to 6 p.m. Pacific time | 24/7 | 24/7 |
Front-of-house | Menu and table management | Menu, table, seat, and course management | Menu, table, seat, and course management |
Team management | Basic | Advanced | Advanced |
Reporting | Basic | Advanced | Advanced |
Installation fees (optional): 1-on-1 installation starts at $599+ |
All plans include fast order entry with conversational modifiers, menu and order management, table management, open checks, auto-gratuity options, multi-location management, and remote device management.
The Plus tier has 24/7 support and more sophisticated restaurant features like auto-86ing, coursing, and options to set closing procedures. Premium has everything in Plus and comes with discounts on Square Payroll, Marketing, Loyalty, and Online Store. All paid Square for Restaurant plans have a free 30-day trial.
To learn more about these features, read our Ultimate Guide to Square for Restaurants.
Square Appointments
Square Appointments is designed for service-based businesses and professionals. These include spas, salons, hairdressers, personal trainers, massage therapists, makeup artists, photographers, appointment-based retail, and consulting.
Square Appointments makes it easy to manage multiple appointment calendars from anywhere. (Source: Square)
Square Appointments Pricing Plans
Like Square for Retail, Square Appointments offers discounted in-person payment processing rates if you subscribe to a paid plan. However, Square Appointments offer a second paid plan that includes access to advanced team management features. Custom pricing is also available.
Free | Plus | Premium | |
---|---|---|---|
Monthly software fee | $0 | $29 per location | $69 per location |
In-person processing rate | 2.6% + 10 cents | 2.5% + 10 cents | 2.5% + 10 cents |
Online processing rate | 2.9% + 30 cents | 2.9% + 30 cents | 2.9% + 30 cents |
Scheduling | Basic | Advanced | Advanced + Resource management |
Online booking | Advanced | Advanced | Advanced |
Staff management | Advanced | Advanced | Advanced |
Team management | N/A | N/A | Advanced + Payroll |
Client management | Advanced | Advanced | Advanced |
Payments | Advanced | Advanced | Advanced |
Inventory and reporting | Advanced | Advanced | Advanced |
For more details on Square Appointments, read our full Square Appointments review.
Did you know?
- In addition to the best overall POS for small businesses, Square POS is a consistent pick for leading retail POS systems, multichannel POS systems, and POS inventory systems.
- To learn more about Square’s free POS system, read our full Square POS review.
- To learn how to set up Square POS, read our Square POS setup guide.
Square Online Fees
Every free Square account comes with basic POS software, payment processing, invoicing, and a Square Online store. The online store ties into the rest of the Square ecosystem and can be managed through your Square Dashboard, where you can sync products, orders, and customers across your in-person and online sales channels.
The Square Online store is a free drag-and-drop web builder for selling goods and services online. (Source: Square)
You can upgrade to a paid online store to get a custom domain, remove Square branding, and receive discounts on integrated shipping labels and real-time shipping calculations. Paid plans also come with advanced features like customer product reviews, abandoned cart recovery, and the ability to accept PayPal payments.
Square Online Pricing Plans
Free | Plus | Premium | |
---|---|---|---|
Monthly fee* | $0 | $29 | $79 |
Processing fee | 2.9% + 30 cents | 2.9% + 30 cents | 2.6% + 30 cents |
Website builder + SEO tools | ✓ | ✓ | ✓ |
Pickup, local delivery, and shipping | ✓ | ✓ | ✓ |
Sell on social | ✕ | ✓ | ✓ |
Expanded site customization | ✕ | ✓ | ✓ |
QR code ordering | ✕ | ✓ | ✓ |
Customer accounts | ✕ | ✓ | ✓ |
Personalized ordering | ✕ | ✓ | ✓ |
Advanced item settings | ✓ | ✓ | |
Accept PayPal | ✕ | ✓ | ✓ |
Free 1-year domain | ✕ | ✓ | ✓ |
Real-time shipping calculator | ✕ | ✕ | ✓ |
*Lump-sum billing
In the news:
In the same March 1, 2023, announcement, Square also shared updates to its Square Online subscriptions, now offering three monthly plans instead of four. Available features have also been updated to include shipping tools in the free plan, while paid plans now have the ability to set up customer accounts, self-ordering feature with QR codes, personalized ordering experiences for customers, and the ability to accept PayPal payments.
To learn more about Square Online, read our full Square Online review.
Square Hardware Fees
To get a complete idea of Square POS system cost, you also need to consider hardware. Mobile payments and in-store sales require credit card readers to accept payments, and Square has a variety of hardware options that let you swipe, insert, or tap cards to complete a sale. Each works on smartphones and iPads using Square’s free POS app.
The beauty of Square’s range of hardware is that it offers setup for every stage of your business. You can start with zero upfront cost, and invest only as needed.
Consider the following examples:
Business Size | Square Hardware Setup | Square Hardware Cost |
---|---|---|
Home-based, Seasonal, Startups | Your computer or mobile device + Square Virtual Terminal | $0 |
Small startups, on-the-go | Your mobile device + Square Mobile Card Reader | $0–$49 |
Startup, single checkout storefronts | Your iPad + Square Stand | From $14 per month for 12 months ($149) |
Remote businesses that accept swiped payments | Your computer or mobile device + Square Terminal | From $27 per month for 12 months ($299) |
Storefronts that accept swiped payments | Square Register (+ optional Square Terminal) | From $39 per month for 24 months ($799) |
Growing storefronts | Square Stand/Register Kit (+ optional Square Terminal) | From $739 |
Accessories such as cash drawers, barcode scanners, kitchen printers, and thermal printers are also available and can be bought separately or bundled into a POS hardware kit.
Square Mobile Card Readers
Square Reader for Magstripe | Square Reader for Contactless and Chip |
---|---|
First free, additional $10 | $49 |
Accepts payments via magstripe (swiped); available in jack or lightning connector | Bluetooth reader that accepts EMV (chip) and NFC (Apple Pay, Google Pay) payments |
Square In-Store POS
Square Stand for Contactless and Chip | Square Terminal | Square Register |
---|---|---|
$149 or $14 per month for 12 months | $299 or $27 per month for 12 months | $799 or $39 per month for 24 months |
All-in-one credit card machine and for iPads, built-in EMV and NFC card reader | Stand-alone mobile POS that can take orders, accept card payments and issue receipts. | Full POS with touch-screen monitor, detachable customer-facing display, and credit card machine |
Square recently launched the new Square Stand Mount. This version of the Square Stand allows you to have a checkout terminal setup anywhere in your store, which makes for a great self-service checkout. Cost: $149 or $14 per month for 12 months |
Square Hardware Kits
Square Stand Kit | Square Stand Kit $659 Includes:
|
Square Register Kit | Square Register Kit $1,479 Includes:
|
Square Stand Restaurant Station | Square Stand Kit $1,139
|
Square Stand Restaurant Station with Square Terminal | Square Stand Restaurant Station with Square Terminal $1,439 Includes:
|
Square Hardware Financing
Square offers no-interest financing for qualified hardware purchases from $49 to $10,000. Qualifying orders can be split into an installment payment plan with up to 24 monthly payments. Applications and payments for hardware financing are directly through Square, not a third party.
Square Fees for Add-on Software & Other Services
Square’s core products are POS, payments, and ecommerce, though the company offers a variety of other supplemental products, including invoicing, payroll, and marketing that you can use alongside other solutions or individually.
Square Invoicing
Square Invoicing can be a good fit for client service businesses like consulting firms, field service businesses like contractors, made-to-order retailers, and freelance professionals that want to easily request payment from customers.
Square Invoices are free to create and send. (Source: Square)
Square Invoicing Pricing
Square Invoicing now offers both a free and an advanced plan. While both charge the same processing fees, you get customization tools with the paid plan.
Free Plan | Plus Plan |
---|---|
$0 per month | $20 per month |
|
|
Square fee structure for invoiced payments are as follows:
- In-person: 2.6% + 10 cents per transaction
- Online: 2.9% + 30 cents per transaction
- Card on file: 3.5% + 15 cents per transaction
- Online ACH payment: 1% with minimum fee of $1
- With Afterpay: 6% + 30 cents per card payment
You can create, send, and manage invoices through your web-based Square Dashboard or the Square Invoicing app for iOS and Android. Learn how to send a Square Invoice.
Square Payroll
Square Payroll is subscription-based, full-service payroll software that automatically calculates payments and taxes. This service can be used independently or in tandem with Square’s other products like POS or Team Management.
Calculate and process payroll straight from your mobile phone. (Source: Square)
Square Payroll Pricing
Employees and Contractors | Contractors Only | |
---|---|---|
Monthly fee | $35 + $5 per person paid | $5 per person paid |
Unlimited monthly pay periods | ✓ | ✓ |
1099-MISC forms | ✓ | ✓ |
W-2s | ✓ | ✕ |
Pay by check, direct deposit, or Cash App | ✓ | ✓ |
Automatic payroll tax calculations | ✓ | ✕ |
Time cards and employee app | ✓ | ✕ |
Read our full Square Payroll review for more details on its features and how it works.
Square Team Management
Square Team Management is included with every free Square account. Some paid POS plans include Team Plus features, although they can also be purchased separately. Advanced features include setting wage rates, timecard notes, multiple permission levels, and detailed labor reports. Team Plus has a 30-day free trial.
View all planned shifts by week to assign a job or an employee. A shift can be viewed weekly or daily to make changes. (Source: Square)
Square Team Management Pricing
Team Management | Team Plus | |
---|---|---|
Monthly fee | $0 | $35 per location |
Time clock and time card with break tracking | ✓ | ✓ |
Unscheduled log in prevention | ✕ | ✓ |
Payroll exports | ✓ | ✓ |
Permission levels | One | Unlimited |
Multiple wage rates | ✕ | ✓ |
Overtime reporting | ✕ | ✓ |
Activity logs | ✕ | ✓ |
Labor reports | ✕ | ✓ |
Square Marketing
Square Marketing allows businesses to create, send, and track email and social campaigns. Every plan includes automation features, customer coupon options, automatic email collection, and unlimited email sends. Plus, it has a Square Marketing Assistant, an automated chat that sends you suggestions, opportunities, and reports to stay on top of campaigns. It also uses your email lists to suggest campaigns you can launch from your phone.
Square allows you to customize your customer engagement methods, including fully-branded campaigns and two-way text messaging options. (Source: Square)
Square Marketing plans depend on the communication type and number of customer contacts. Email marketing costs $15 per month, while SMS marketing costs $10 per month. Additional monthly cost is based on your number of contacts and ranges from $15–$425.
Square Marketing Pricing
Marketing Campaign Type and Fee | Email Marketing | SMS Marketing |
---|---|---|
$15 per month | $10 per month | |
+ Fee Based on Number of Contacts | ||
Up to 500 | $15 | |
1,001–2,000 | $40 | |
2,001–4,000 | $55 | |
4,001–9,000 | $90 | |
9,001–15,000 | $150 | |
15,001–30,000 | $225 | |
30,001–50,000 | $350 | |
50,001–75,000 | $425 | |
More than 75,000 | Custom |
Square Loyalty
Square Loyalty is a mobile-app-based digital rewards program that provides customers with points based on their activity. It integrates seamlessly with Square POS and Square Online and tracks customers based on their payment and/or method once they enroll. Businesses can customize whether shoppers are rewarded per visit or per dollar spent. To apply rewards, just enter the customer’s phone number online or at in-store checkout.
View returning customers’ points and reward history in a quick glance. (Source: Square)
Like Square Marketing, Loyalty pricing is based on the number of times a customer enrolls or completes a transaction where loyalty points are earned or redeemed. The features are identical for each plan.
Square Loyalty Pricing
Monthly | $45 | $75 | $105 |
---|---|---|---|
Loyalty Visits | 0–500 | 501–1,500 | 1,501–10,000 |
Square Business Banking
Square Banking is a service that offers businesses integrated banking solutions with traditional checking and savings accounts, as well as options for setting up investments and taking out loans. Signing up is easy as there is no lengthy application process or credit checks. There is also no monthly fee, and you don’t need to maintain a minimum balance.
Square Banking Products
- Square Checking: A checking account integrated with your Square merchant account. It comes with a debit card that provides access to your sales and loan proceeds.
- Square Savings: Integrated with Square Payments so merchants can automatically set money aside for savings, paying bills, sales tax, and more. Earns 1.75% annual percent yield (APY).
- Square Business Loans: Open to individuals who process with Square Payments with loans ranging from $300–$250,000 based on card sales through Square. Repayment is set up automatically as a portion of your total monthly sales.
Your Square Savings account allows you to set aside a percentage of your daily sales into a high-yield investment. Apply for a Square Debit Card and immediately get access to your funds. (Source: Square)
Square Business Banking Fees
Opening a bank account with Square is absolutely free; there is no minimum opening deposit and maintaining balance, and you don’t get charged for maintenance fees or overdrafts. For qualified customers, you can apply for business loans ranging from $500 to $250,000, and Square automatically deducts a fixed percentage of your daily sales to repay the loan over time, or you can prepay the loan amount.
- Opening Deposit: $0
- Monthly Fee: $0
- Minimum Balance: $0
- Credit Checks: None
- Overdraft Fee: $0
Square Fees Frequently Asked Questions (FAQs)
What fees does Square charge?
Square charges a flat fee per credit card transaction as it is processed. Most of Square’s software, including the point-of-sale app, online store, invoicing, inventory tracking, and virtual terminal, are free to use.
However, Square also has paid software you can add on at any time on a month-to-month basis, including Plus plans for retail, restaurants, and appointment point-of-sale, advanced ecommerce, marketing tools, team management, payroll processing, and more.
How much does Square charge per transaction?
Square fees for merchants are flat-rate so it’s easy to manage costs. For card-present transactions, including swipe, tap, and chip payments, Square charges 2.6% + 10 cents. Online and invoice transactions cost 2.9% + 30 cents with Square pricing, and it’s 3.5% + 15 cents for keyed-in or card-on-file transactions.
If you process over $250,000 annually, you may be eligible for lower rates through Square’s custom pricing program.
Are Square fees high?
Square credit card fees are fairly standard for mobile and online payments, especially for new and small businesses. However, there are cheaper options available, especially if you have an established business. See our guide to the cheapest credit card processing to calculate the best option for you.
Does Square have monthly fees?
No, basic Square accounts have zero monthly fees.
You can choose to add on additional software upgrades like marketing, loyalty programs, payroll processing, advanced team management, or Plus POS plans, which do have monthly fees.
Bottom Line
Square is best known for its square-shaped mobile card reader and payment processing service. However, it has grown into a platform that supports your entire business, including, business management, online selling, and marketing.
Its strongest advantage is that you can easily craft a full sales and business management solution on any budget. Square pricing is set up so that the core features are free, and you only pay the Square fees for credit card processing, certain processing equipment, and optional advanced features. So, with Square, you only pay for what you actually need. Head over to Square to sign up for a free account.