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Anyone check their square (credit card service) fees?
#1
I made my first cc charge yesterday, unfortunately I cannot find my square reader so I ordered another. I had to enter the cc # manually. The charge was 30 and no tip. They say they take a 3.5% transaction fee plus an additional .15 cents when it's manual. Compared to a flat 2.5% per swipe. Well 3.5% is .35 of $30 plus .15 is .50 cents so they owe me $29.50 but the deposit is stated as $28.80. Am I doing my math wrong here? Do they have an email or phone number hidden in their pages. I can't find anything.
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#2
they do have a #, let me see if I can find it.
 Reply
#3
sobeit :
> I made my first cc charge yesterday, unfortunately I cannot find my square
> reader so I ordered another. I had to enter the cc # manually. The charge was
> 30 and no tip. They say they take a 3.5% transaction fee plus an additional
> .15 cents when it's manual. Compared to a flat 2.5% per swipe. Well 3.5% is
> .35 of $30 plus .15 is .50 cents so they owe me $29.50 but the deposit is stated
> as $28.80. Am I doing my math wrong here? Do they have an email or phone number
> hidden in their pages. I can't find anything.

3.5% of $30 is $1.05. You multiply 30 x .035 = 1.05

$1.05 + .15 = $1.20

$30 - $1.20 = $28.80
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#4
Good lord I am a dingbat. I was doing 30 X 3.5% which is .035 And then subtracting that .35 cents, and that's not the right way to find the % Duh me, 1% is .30 cents so I am obviously in need of evening coffee. LOL never mind.
Donna the # would still be great to have. At least they won't laugh at me.
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#5
They don't have a # yet...support is through twitter...or email (I believe)...their twitter handle is @SqSupport
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#6
sobeit i am charging 2-4 dollars depending on the amount to cover my fee.. i refuse to loose that money i dont care if its 50 cents.. i did 100.00 the other day and it took almost 4 bucks.. today i told the gal.. i am going to add 4 bucks to your amount for using the card.. she was just thrilled i took her card.. and then she said well just add 10.. hey .. and i ended up with a tip to boot where she was not going to .... psychology...yea.. sounds good..
Kathie Kirkpatrick get a grip on reality and choke it to death
"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and
well preserved body, but rather to skid in sideways, chocolate in one hand, body thoroughly used up, totally
worn out and screaming "WOO HOO what a ride!"
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#7
Kailiek, I was wondering what to do about that. If I start accepting more regulary, I dont want to lose out that fee as part of business. It expensive enough and the CC is not really convenient for me, but the client and sometimes we have to pay for convenience. Yea, $4 is just too much to cut a service so they can use a CC.
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#8
You better check with.. I;m not sure who.. but I do belive it is not legal to tack on "use" fees for credit card purchases. I'm sure a little googling will help clarify
Regards,
Debbie webmaster - admin
BeautyTech.com Feed Your Nail Addiction
NailTech.com shop smart, brand name professional products for professional results

 Reply
#9
I've found that 95% of my clients tack on a tip when using a cc, and that amount will generally more than cover the cost of the transaction fee. Otherwise, you could post a sign with min. amount allowable to charge.
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#10
Kalliek,

Swiped, a $100 charge will garner a $2.75 fee. If hand keyed, it would garner a $3.90 fee (3.75% plus .15 trans fee). Sounds to me like you are hand keying it. You should only hand key transaction that you do over the phone like if you sell a GC. These fees are higher because the risk is higher, you can't see the person or check the signature.

Also, it is strictly against your Terms of Service to charge the card holder a fee.

https://squareup.com/legal/ua

Section 12 clearly states:
Network Rules currently prohibit you from (a) assessing a surcharge for the use of a Card in connection with any transaction, or (b) dispensing cash on any Card transaction. The Rules also restrict your use of Network logos to indicating your acceptance of the Network cards and to other uses expressly authorized by the Networks.

All you have to do is charge that fee to the wrong person and a whole can of worms can be opened up.
Rhonda S. Kibuk
Young Nails Mentor

The Purple Pinkie Nail Salon
Ford City, PA

Salon Blog
http://thepurplepinkienailsalon.blogspot.com

Read my personal blog at:
http://thepurplepinkie.blogspot.com/
 Reply
#11
Quote:sobeit :
> I made my first cc charge yesterday, unfortunately I cannot find my square
> reader so I ordered another. I had to enter the cc # manually.
If it becomes a repeat way for their choice of paymenttThen I will up my price, because I will not lose more money again. It's that or cash.
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#12
For what it's worth, my average for this year of dollars that were charged on cards is 55% - and I have found that people buy more retail and do tend to tip a bit better when using a card, so even with the fees (I pay 2.2% + .20) I am coming out way ahead! If you look at half of your people using cards, instead of it costing 2.2% + .20, it's really more like 1.1 + .10 on the average that it costs you - but if retail and tips go up, you will more than recoup the cost!
Candice
Nail Tech/Owner
http://www.PanacheNailStudio.com
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#13
I wish I were in a position that it would increase my income. For me, my clients have been with me for 10 years give or take, and I have never accepted CC until now. The first charge was on a new client and again a new client today. But in general it's my regulars and they will tip the same as always, and I will lose out on the fee for the convenience to the client to charge it. Those who have always paid in check or cash. New clients it has come in handy for, for sure. They don't know I never took cards and it was embarrassing to tell new clients I didn't accept them. Don't have to do that now. And retail? Sniffle, the salon owner took all that nail retail away one month after I started. He doesn't care about nails, he cares about his rent check. And I am not interested at this salon to go get my sales tax license again. So I just pick up what a client needs if they ever ask for it. Usually they don't, as I have been in this shop for 8 years and there has never been retail for them. It kinda sucks. My situation is just different.
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#14
I don't charge a fee, just because most add a tip anyway.

However, I recently paid a fine at our county courthouse with my debit, and they had a fee per transaction amount. The sign was posted of how much fee based on how much fine.

Further, I *think* you may be able to write-off banking fees from your taxes.
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#15
Yes, you can write off the fees as a banking expense
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#16
i tell them upfront about the fee so they have a choice to go next door and hit the atm, write me a check or bring cash..
the ones who i have said this to have not flinched, they are appreciative that i took their card, when the one told me to add 10 bucks i took that extra 6 bucks as my tip and did not add the additional fee for the card usage.. i am trying to be fair
i guess i could go up in price but its unnessisary since very few ask me to take their card to begin with.
my reader wont read when swiped so i have an email in to them at square..but until that is corrected.. i dont feel i have to loose out..especially if they are not going to tip..
reguardless of the rules..sorry.. this is my money and they do have a choice.. its also just as wrong to limit the purchase amount.. cc companys dont allow that either but i see it all the time..

but yes if it were not such a large amount due to unable to swipe right now i may not add that fee but i still would limit the dollar amount.. so i am wrong all the way around.. but all these years no one could not pay me because i did not accept a cc.. i am offering it for their convienence..

and i do write everything off my taxes..lol..
Kathie Kirkpatrick get a grip on reality and choke it to death
"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and
well preserved body, but rather to skid in sideways, chocolate in one hand, body thoroughly used up, totally
worn out and screaming "WOO HOO what a ride!"
 Reply
#17
Please check your state laws.. it could be illegal to be collecting a fee for using the credit card.. not every state has this but I know there are some..
Regards,
Debbie webmaster - admin
BeautyTech.com Feed Your Nail Addiction
NailTech.com shop smart, brand name professional products for professional results

 Reply
#18
I understand how some of you feel about the fees you have to pay when you accept credit cards, but as stated in some of your post, clients tend to spend more if they can use a credit card. last month I accepted $2,844.75 in credit cards and paid $100.59 in fees I don't take american express because the fee to accept that card is too high for me. what I will say is that a lot of people don't carry cash and even fewer write checks. I look at the fees as the cost of doing business.
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#19
I work at a salon in NYC where most people don't carry cash. My salon owners allow CC tips and the clients generally tip the same in cash or credit. I get taxed right away for CC tips and the taxes kill me! About 1/3 of my check goes to paying taxes for those tips. If it were up to me, I would allow for the service to be charged but not tip
----
Shirley
Scotch Tape & Rhinestones
NYC Based Nail Artist
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#20
You can offer a cash/check discount, but cannot charge additional for using credit cards, nor can you require a minimum purchase.
Jaime Schrabeck, Ph.D. (yes, it's real)
http://www.precisionnails.com
http://shop.precisionnails.com
 Reply
#21
Nearly all my clients pay with a CC. I look at the fees as being a cost of doing business....they are tax deductible so I don't worry about it. Most of my clients do not even carry cash or checkbooks with them so it would be a huge inconvenience to them if they had to pay another way.

Also, it's not just the merchant account provider (such as square) that does not allow the charging of fees to the client paying with a CC.....it is stated in the terms of use for visa, mastercard, amex, etc that you will not charge the fees or penalize a customer paying with CC in any way. If caught doing it the credit card company themselves (visa, mc, etc) can take away your privilege to accept CC's. So when you see terms like that in the terms of service agreement with the merchant account providers it is because these are the terms placed on them. Do businesses charge a fee anyway? yes, better believe it. Does that mean it is legal or right? No it does not. Just because you see people practicing business this way does not mean it is the correct way to go about it.
Melodie Hand
Clayton/Raleigh, NC
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#22
Does it make sense to charge more for a cc? Because in the end you are going to pay more in the fee because the charge is more?

Tried using Square one time. What a pain. Got a confirmation number and the amount was never posted to my account. It was h**l trying to find someone to communicate with about this via Square. I had to google to find at least an e-mail address for them. What a pain! They told me the transaction was voided. How can you void a transaction when they give you a confirmation number? Was fortunate that I knew the person, so she mailed me a check. Never again! Cash or check, I say!
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#23
Ditto what Melodie said! : )
Jaime Schrabeck, Ph.D. (yes, it's real)
http://www.precisionnails.com
http://shop.precisionnails.com
 Reply
#24
I just got my Square reader in today's mail, so I haven't used it yet. In my nail salon before, we had a CC machine. The two of us were partners and when we got the machine thought we could just divide the fees- not so. Both of us were paying a minium of $38 a month- usually more. They put our deposits in late and we had all kinds of troubles with them. I worked in a salon that keyed all cards under the same code and we made a copy of the receipt for ourselves, then the owner charged us 5% of our card total. I think I am much gonna prefer the Square. At a basic charge of $2.75 per $100, That is about the cost of a fountain drink here.
Always be kind....you get farther.
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#25
(06-18-2012, 02:33 PM)Tn Nail Lady Wrote: I just got my Square reader in today's mail, so I haven't used it yet. In my nail salon before, we had a CC machine. The two of us were partners and when we got the machine thought we could just divide the fees- not so. Both of us were paying a minium of $38 a month- usually more. They put our deposits in late and we had all kinds of troubles with them. I worked in a salon that keyed all cards under the same code and we made a copy of the receipt for ourselves, then the owner charged us 5% of our card total. I think I am much gonna prefer the Square. At a basic charge of $2.75 per $100, That is about the cost of a fountain drink here.




You will enjoy it! I have-love mine and using it. Customers love it! It is well worth it for individuals.

As for a Square and a confirmation number? I have had Square over a year and they have NEVER provided a confirmation number. So not sure what you are referring to where Square is concerned.
You swipe, put the charges in, they sign, tip or not, they choose receipt or not, and presto. I receive my payment with 48 hours, sometimes 72 but mostly 48. Noted in my account within 24. I get an email that a Square payment was made.

Anna
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