Square publishes its fees on a single page, with no grid by card category. That is rare in this industry, and it is what makes the comparison with a traditional statement so telling. Here are the numbers in force in Canada as of October 3, 2026, and what they mean at the register.
The four processing fees
| Payment type | Fee | On a $50 sale |
|---|---|---|
| Credit card in person (tap, dip, swipe) | 2.5% | $1.25 — you receive $48.75 |
| Interac debit in person | 0.75% + $0.07 | $0.45 — you receive $49.55 |
| Online payment (store, invoice paid online, API) | 2.8% + $0.30 | $1.70 — you receive $48.30 |
| Manually keyed or card on file | 3.3% + $0.15 | $1.80 — you receive $48.20 |
The 2.5% in-person rate is the same for Visa, Mastercard, American Express and Discover. There is no "rewards card" or "business card" category billed higher, which is the usual source of nasty surprises on a traditional statement.
The surcharge for foreign cards
A card issued outside Canada carries a 1.5% surcharge. A US credit card tapped on your terminal therefore costs 4.0% in total. For a tourist shop in Old Montreal that number belongs in the calculation; for a neighbourhood hair salon it is negligible.
Fees on which amount?
On the total transaction amount, taxes and tip included. That is the industry norm, but you need to know it when comparing: a restaurant that takes $100 of food, $14.98 of taxes and a $15 tip pays 2.5% on $129.98, or $3.25.
What costs $0
- Monthly fees on the free account, setup fees, statement fees.
- PCI compliance fees (and no annual PCI questionnaire to fill out).
- Minimum term and termination fees.
- Standard bank deposit, as soon as the next business day.
- Square Point of Sale software, invoices, payment links, Virtual Terminal, basic online store.
Paid options, if you choose them
- Instant transfer: 1.5% of the amount transferred (minimum $25, maximum $5,000 per transfer). Handy in a pinch, expensive as a routine.
- Plus plans: from $35 a month for advanced restaurant, retail or appointment features. Cancel any time.
- Email marketing from $20 a month, Loyalty from $60 a month.
- Afterpay: 6% + $0.30 per transaction if you offer instalment payments.
And the hardware?
You buy it: Square Reader $69, Square Terminal $399, Square Stand $249, Square Kiosk $249, Square Handheld $449, Square Register $999 (taxes extra). 0% APR financing over 3, 6 or 12 instalments is available on approval. Once paid, it is yours: there is no rental behind it.
Example: a café selling $20,000 a month
Assume 60% of sales by credit ($12,000) and 40% by Interac ($8,000, roughly 1,000 transactions at $8). Square fees: $300 on credit + ($60 + $70) on Interac = $430 a month, an overall effective rate of 2.15%. No fixed fee is added. Compare that total with the bottom of your current statement, not with the headline rate.
When to ask for custom pricing
Past a few tens of thousands of dollars a month, Square offers custom fees (Premium plan or interchange-plus style pricing). Preparing that file and comparing the result, line by line, with your current statement is what an official reseller like Rive does.