SumUp doesn’t charge anything for settling transactions directly in your bank account or SumUp Business Account (your choice where payouts go).
myPOS, on the other hand, only settles card payments directly in your online myPOS account, not bank account. To transfer myPOS funds to your UK bank account, a £1.50 transfer fee applies each time. You can make other transfers, such as SWIFT, for other fees.
Withdrawing cash from the myPOS online account with its card costs at least £2 each time. In contrast, SumUp Card gives you 3 free cash withdrawals per month, followed by a 2% fee until the next month.
There are other myPOS charges related to text messages, account statements and so on, so it’s not overall that transparent compared with SumUp. If you haven’t taken any transactions for 10 months, a monthly inactivity fee of £10 + no acquiring fee of £5 apply per month until you either close the account or transact again.
With SumUp, you don’t have to close the account when you’re done using it, as it won’t charge you anything down the line.