All non-card reader payments are charged a higher rate. That is, keyed, virtual terminal and invoice payments cost 2.5% of the transaction amount (the keyed rate applies to both when the customer is and is not present).
Online payments through the online store, payment links and eGift Cards are 1.9% for European cards and 2.9% for non-European cards.
With Square, you don’t commit to a contract period, nor do you need to sell every month or have certain sales volumes to qualify for the card rates.
Nothing is charged for refunds or chargebacks, the latter being dealt with for free by a dedicated support team for payment disputes.
Payments are deposited in your bank account as soon as the next working day. This is automatic by default, but you can also set it to manual deposits if that simplifies bookkeeping.
Square also offers Instant Transfers, a setting that enables you to receive transactions within 20 minutes (may take up to two hours) – if your bank is a Direct Participant of Faster Payments. This costs an extra 1% of the transaction amount, i.e. a total of 2.75% for card reader payments. Note that merchants may not have access to this feature before they have a sufficient sales history in the Square account.