How do I charge my CC fee on Square?

Surcharging Smart: How to Charge Card Surcharges on Square

Navigating the world of payment processing fees can feel like a constant balancing act. You want to offer convenient payment options to your customers, but those card processing fees can quickly eat into your profit margins. Luckily, Square offers a built-in feature to help offset those costs by implementing a card surcharge, allowing you to recoup some of the fees associated with accepting credit cards. This article provides a clear, step-by-step guide on how to enable and manage card surcharges within your Square account.

Before we dive in, it’s crucial to understand that surcharging comes with responsibilities. Transparency is key. Make sure you prominently display signage in your store and online informing customers about the card surcharge policy before they complete their purchase. Many jurisdictions have specific rules and regulations regarding surcharging, so it’s absolutely vital to check your local laws and ensure your business is in compliance. Failure to adhere to these regulations could result in fines or penalties.

Now that we’ve covered the legal considerations, let’s get to the how-to:

Activating Card Surcharges on Square:

The process for enabling card surcharges on Square is surprisingly straightforward and can be completed directly through your Square Dashboard. Here’s how:

1. Access Your Square Dashboard: Begin by logging into your Square account through your web browser.

2. Navigate to Account & Settings: Once logged in, look for a section usually labeled “Account & Settings.” This is your hub for managing various aspects of your Square account.

3. Find the Payments Section: Within “Account & Settings,” locate the “Payments” section. This area manages your payment options, processing fees, and, importantly, surcharges.

4. Discover Service Charges (or Surcharges): Within the Payments section, you should find a dedicated option like “Service charges” or potentially “Surcharges” directly. Click on this to access the surcharge settings.

5. Activate the Card Surcharge Option: The key step is to activate the feature. Look for an option like “Create card surcharge,” “Enable card surcharge,” or something similar. Toggle this switch or checkbox to activate the functionality.

6. Specify the Surcharge Percentage: Once activated, you’ll be prompted to enter the surcharge percentage you wish to apply. This percentage will be added to the total purchase amount when a customer pays with a card. Be mindful and keep this percentage reasonable! Exorbitant surcharges can deter customers and potentially run afoul of regulations.

7. Review and Save: Double-check your entered surcharge percentage and ensure it aligns with your business needs and legal requirements. Then, save your changes.

Important Considerations After Activation:

• Inform Your Staff: Make sure all your employees are aware of the new surcharge policy and how it is applied at the point of sale. They should be able to answer customer questions accurately and professionally.
• Update Your Point-of-Sale System (If Necessary): While Square automatically applies the surcharge, review your POS setup to ensure accurate calculations and clear display of the surcharge amount to the customer.
• Monitor Performance: Keep a close eye on your sales data after implementing the surcharge. Analyze whether it has affected transaction volumes or customer behavior. You might need to adjust your strategy based on the data you gather.

Beyond the Basics:

While Square makes it relatively simple to activate card surcharges, remember that responsible implementation is crucial. By being transparent, complying with regulations, and monitoring performance, you can effectively leverage this feature to manage your processing costs while maintaining positive customer relationships. Consider consulting with a financial advisor or legal professional to ensure you’re fully compliant with all applicable laws and regulations in your area before implementing card surcharges. Good luck!