Fees
Fee Structure Overview
At Squared Inc., we’ve designed our fee system to be merchant-friendly while maintaining a sustainable business model. Unlike traditional payment systems that deduct fees immediately from each transaction, our approach gives you more flexibility and control over your cash flow.
Core Fee Policy
- Fee Rate: 2% on all non-test invoice transactions
- Collection Method: Fees accumulate as outstanding balance rather than being deducted per transaction
- Minimum Payment Threshold: $50 in outstanding fees
How It Works
- Fee Accumulation: As you process payments through our platform, we track the 2% fee from each transaction in your merchant account.
- Payment Threshold: We only require payment of outstanding fees once you’ve reached a minimum of $50 in accumulated fees.
- This corresponds to $2,500 in processed transaction volume
- Until you reach this threshold, your outstanding fees will continue to accumulate without requiring payment
- Payment Window: Once you reach the $50 fee threshold, you’ll have 30 days to settle the outstanding balance, during which outstanding fees keep accumulating.
Example Scenario
Let’s illustrate how this works:
| Week | Transaction Volume | New Fees (2%) | Total Outstanding Fees | Status |
|---|---|---|---|---|
| 1 | $800 | $16 | $16 | Below threshold |
| 2 | $1,000 | $20 | $36 | Below threshold |
| 3 | $700 | $14 | $50 | Threshold reached |
| 4+ | Any amount | Continues accumulating | $50+ | 30-day payment window begins |
Payment Methods
When your outstanding fees reach the $50 threshold, you can pay your balance through your console in Fees tab.
FAQs
Q: What happens if I don’t pay my fees within the 30-day window?
A: After the 30-day period, we may temporarily suspend your ability to create new invoices and the checkout page is unavailable for your clients for the suspension time until the outstanding fees are settled.
Q: Do test invoices incur fees?
A: No, test invoices are completely free and will never contribute to your outstanding fee balance. But note that test invoices cannot be used for real transactions since they are not being monitored for actual transaction, instead manually mark such invoices as paid in console for webhook testing.
Q: Can I pay my fees before reaching the $50 threshold?
A: No
Q: Where can I view my current outstanding fee balance?
A: Your current outstanding fee balance is always visible in the “Fees” tab of your merchant dashboard.
For any additional questions about our fee structure, please contact our support team at support@squaredinc.co