Instalments for Square Hardware FAQs
What is instalments for Square hardware?
Instalments for Square hardware is a flexible payment option that allows you to purchase the Square hardware you need for your business while paying for it in monthly instalments.
Why choose instalments for your Square hardware purchase?
Instalments give you a flexible way to make sure that you get the hardware you need for your business while allowing you to pay in easy monthly instalments. You have the option to pay using a plan that works best for your budget and business.
Is my order eligible for monthly instalments?
If your basket subtotal is £29 to £3,000, you’ll see an option to pay in instalments. Orders under £29 (before taxes) aren’t eligible. Depending on your order size, you may see more than one instalments plan option. All applications are subject to approval.
How do I apply?
Add hardware to your basket and select the instalments option at checkout. Enter a few basic pieces of information to identify yourself and we’ll let you know if you’re approved instantly. If approved, you can then review and complete your first instalment payment. Once you’re done, your hardware will be on its way.
Does this affect my credit?
When you are interested in financing a purchase, our system checks the personal credit report of the account owner applying on behalf of the business. This will result in a hard credit inquiry that may affect your credit score.
Is there a purchase limit?
Approved Square sellers are eligible for purchases of up to £3,000.
Why was my application declined?
Unfortunately, we’re unable to approve every application. We’ll notify you immediately if your application is declined.
Who can apply for instalments on behalf of my business?
Only account owners may apply.
Instalment Payments and Billing Questions
How do I repay?
Your monthly instalment payments will be made automatically using the credit or debit card that you provide at the time of your purchase. If we are unable to complete payment(s) from your credit or debit card, we attempt to debit the bank account associated with your Square Account.
How long is the repayment period?
Depending on your order total, at checkout you’ll see repayment options for 3, 6 or 12 instalments. The first instalment payment will be due at checkout.
When will I start making instalment payments?
Your first payment will occur at checkout. From there, your charges occur each month until the balance of the order has been fully paid. Any expedited delivery fees will be applied to your initial payment. Each instalment payment, as well as any expedited delivery payments, will include applicable tax.
How do I find my outstanding balance?
We will email you each month after your payment is made. The email includes your outstanding balance as well as essential details about your monthly instalments.
How do I change my payment method?
You can update your payment method right on the Orders page on the Square Shop. Just select the order you’d like to update and click Change Card on File.
Can I pay with a cheque, money order or another mailed-in payment?
At this time, payments can only be made with credit or debit cards or the bank account associated with your Square Account.
Can I pay off my balance early?
Yes! You can pay in full at any time. Contact our Support Team and let us know you’d like to make a prepayment for your hardware. There is no cost to make a prepayment for your Square hardware.
What if I need more time to make my monthly instalment payment?
If you aren’t able to make a payment on time, please make your payment as soon as possible. You won’t be charged any late fees, but late payments may make it harder for you to qualify in the future.
Will you send me billing reminders?
Yes! We’ll send an email reminder a few days before each payment is due.
What if my credit card is declined?
If your credit or debit card is declined, we will attempt to complete payment(s) by debiting the bank account associated with your Square Account.
If I return my hardware, how do I get a refund?
Refunds are available on returns made within 30 days of your order. Fill in a return form and we’ll email you a postage label. Package your hardware and send it back. After we receive your return, you’ll be refunded all instalment payments made to date.
My reader hasn’t arrived yet. Where is it?
Your Square hardware will arrive within 5-7 working days after checkout. You’ll get a delivery confirmation email with a tracking number for your order. We’ll also email you as soon as your order is dispatched.
What if my hardware breaks?
Your Square hardware comes with a warranty against manufacturing defects for the entirety of your contract. If you’re having issues, try these troubleshooting tips or submit a claim to get a replacement.
If you have any other questions, please reach out to our Support Team.