Interchange Plus Payment Pricing

Interchange Plus Payment Pricing

With Interchange Plus payment pricing, you will be charged no fees at the time of transaction and instead be charged on the 10th of the following month. Square will transfer money from payments into your bank account in one to two business days. These transfers will not be subject to fees until the following month. Each month we will charge interchange and assessment fees associated with your payment volume to reflect the cost of processing transactions plus a Square fee. Your monthly adjustment is composed of two fee types: network and transaction fees.

Square Does Not Charge Fees For:

• Activation

• Downloading the Square Point of Sale app

• Early termination

• Account inactivity

• PCI compliance

What Are Transaction Fees?

When Square processes transactions we are charged fees by our processors. Once per month, we determine the total cost of processing each transaction. We then add your negotiated Square fee + VAT to each transaction to reflect Interchange Plus pricing. If you have a big increase in cards that cost more to process (like international cards), or have a lot of low value transactions, your total monthly processing fees might increase. On the other hand, if you process a lot of lower cost cards (like debit cards) or have higher value transactions your processing fees might decrease.

Reporting

We provide transaction-level reporting to increase transparency while clearly explaining the total cost of each transaction. Transaction details can be found in your online Square Dashboard. 

Within the Reports section of the online Square Dashboard, you can access a comprehensive fee report that provides a breakdown of interchange and assessment fees for each month. Additionally, the fee report also highlights trends over time, enabling you to identify patterns and make informed decisions to optimise your financial strategies.

To view the fees taken out of each transfer:

1. Go to Money > Balance from your online Square Dashboard and select View all transfers.

2. Select a date range from the date selector tool in the upper-left corner.

3. Select a transfer from the list for an overview of the total fees paid.

4. To view fees associated with each transaction in your selected transfer date range, click Export.

Transaction Example:
Your pricing can be found in your online Square Dashboard. For this example, we will assume a negotiated fee of Cost + 1.00% + €0.00 + VAT.
Contactless [Transaction X], 9/9/2023:
Transaction Amount = €20.00
Initial Fee = €0
Actual Total Interchange and Assessment Cost = €0.10
Total Cost Incurred by you on 10/10/2023 = €0.10 + (€20.00 x 1.00%) + €0.00 = €0.30 + VAT

Note: The above example for illustration purposes only, and the fees you are actually charged may differ.

Supported Countries

Interchange Plus is currently available in France, Spain and Ireland.

Pricing for Software Products

Learn more about signing up for Square’s subscription services and managing your payment methods.