Interchange Plus
Interchange Plus Pricing
With Interchange Plus pricing, your processing fees have two components:
Interchange and assessment fees: set by the card networks (Visa, Mastercard, etc.), not by Square. These vary from transaction to transaction based on factors like card type, whether the card is domestic or international, and how the payment is entered. Because your card mix changes over time, this portion of your fees will fluctuate month to month.
Square's margin: a fixed percentage negotiated with Square. This does not change. You can view your current margin in Square Dashboard > Settings > Account & Settings > Pricing & Subscriptions.
Fees are not deducted at the time of each transaction. Instead, Square transfers your full payment amount to your bank account within one to two business days. The total of both components is charged on the 10th of the following month.
Reports
We provide transaction-level reporting for greater transparency, with a clear breakdown of the total cost of each transaction. You can view transaction details in your Square Dashboard.
In the Reports section of yourSquare Dashboard, you can access a comprehensive fees report that provides a breakdown of interchange and assessment fees for each month. The fees report also highlights trends over time, allowing you to identify patterns and make informed decisions to optimize your financial strategies.
How your monthly fees are calculated
You can find your pricing in your Square Dashboard. Your total monthly fee for each transaction is calculated as:
Interchange and assessment fees + Square's margin = Total fee
Find your cost of acceptance
Your cost of acceptance is the effective rate you pay to process credit card transactions. You can find this in two places:
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Fees report:
Go to Reports > Fees in your Square Dashboard. Look for the Cost of acceptance figure. This is the effective rate you pay to process credit card transactions.
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Payment Methods report:
Go to Reports > Payments > Payment methods in your Square Dashboard for a high-level view of fees by acceptance method.
If you're setting up a credit card surcharge, you will need to know your cost of acceptance. See Set up and manage credit card surcharges for details.