Updated: Apr 17
I’m super grateful for all the financial platforms that are available to make life easier on myself and my clients. But unfortunately that comes with a price. Transaction fees!
I’m shy of eight months in business and so far I’ve had to pay over $850 in card transaction fees for Square app alone. If I add the fees from Venmo and PayPal I would have paid over $1000 in fees in the 7/8 months I’ve been in business.
Here is an explanation of my accepted financial platform fees:
SQUARE (the credit/ debit card system) —
2.6% + 10 cents per tap/ dip/ swipe or card
3.5% + 15 cents per keyed-in or card on file transaction
1.9% + 10 cents per sale
2.9% + 30 cents per sale
(No fee if you select “friends & family”! Please select this if you have confidence in me)
AND! To transfer these funds to my business checking account is an additional 3-4%!
My preferred payments are cash or cash app. No fees at all!
I am not taking away any of my current financial platform systems, I am just proposing a three dollar additional fee on top of your service to offset the fees I acquire from adopting these systems. I hope you all understand 🖤