Square to Charge Sellers 1.5% Fee on Instant Transfers to Bank Accounts
08 1월 2020 - 7:19AM
Dow Jones News
By Kimberly Chin
Square Inc. (SQ) said Tuesday it will start charging a 1.5% fee
for each instant and same-day transfer from a sellers' Square
account to their bank account.
The new rate will go into effect on Tuesday for new sellers and
on Feb. 7 for existing instant-transfer users.
"We've recently launched a variety of fast and free transfer
options, so we felt the timing was right for this change," Square
said on its website.
Square said that sellers can continue to use its standard
next-business-day transfers for free or use a Square Card to get
their money immediately with no fees.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
January 07, 2020 17:04 ET (22:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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