Square vs Wise — which takes less?
| Square | Wise | |
|---|---|---|
| Headline rate | 2.9% + $0.30 online / 2.6% + $0.15 in person | From 0.33% + small fixed fee at the mid-market rate |
| $100 → fees | $3.20 | $0.93 |
| $100 → net | $96.80 | $99.07 |
Side-by-side quick reference
| Amount | Square fees | Square net | Wise fees | Wise net | Difference | Square charge→net | Wise charge→net |
|---|---|---|---|---|---|---|---|
| $10.00 | $0.59 | $9.41 | $0.54 | $9.46 | wise +$0.05 | $10.61 | $10.55 |
| $25.00 | $1.03 | $23.97 | $0.61 | $24.39 | wise +$0.42 | $26.06 | $25.62 |
| $50.00 | $1.75 | $48.25 | $0.72 | $49.28 | wise +$1.03 | $51.81 | $50.72 |
| $100.00 | $3.20 | $96.80 | $0.93 | $99.07 | wise +$2.27 | $103.30 | $100.94 |
| $250.00 | $7.55 | $242.45 | $1.58 | $248.42 | wise +$5.97 | $257.78 | $251.59 |
| $500.00 | $14.80 | $485.20 | $2.65 | $497.35 | wise +$12.15 | $515.25 | $502.67 |
| $1,000.00 | $29.30 | $970.70 | $4.80 | $995.20 | wise +$24.50 | $1,030.18 | $1,004.83 |
Square formula
payment processing 2.90% + $0.30
2.9% + $0.30 online / 2.6% + $0.15 in person — verified 2026-11-10
Wise formula
payment processing 0.43% + $0.50
From 0.33% + small fixed fee at the mid-market rate — verified 2026-11-10
Square fee formula & hidden costs
payment processing 2.90% + $0.30
Worked example: $100.00 gross → $3.20 fees → $96.80 net. Reverse gross-up: charge = (target + fixed) / (1 − rate) → to net $100.00 charge $103.30.
Hidden fees to watch
- Keyed-in and card-on-file payments cost 3.5% + $0.15 — the most expensive Square channel.
- Afterpay/BNPL orders cost 6% + $0.30, more than double the online card rate.
- Square keeps the processing fee when you refund a customer.
- Instant transfers cost 1.75% of the transfer amount (standard next-day deposits are free).
- Square Payroll, Loyalty and advanced POS tiers bill separately from processing.
Wise fee formula & hidden costs
payment processing 0.43% + $0.50
Worked example: $100.00 gross → $0.93 fees → $99.07 net. Reverse gross-up: charge = (target + fixed) / (1 − rate) → to net $100.00 charge $100.94.
Hidden fees to watch
- Receiving domestic USD wires costs a flat $4.14; ACH receipts are free.
- Fees are volume-tiered — very large monthly volumes unlock lower corridor rates.
- Card funding a transfer costs extra on top of the conversion fee.
- Some exotic corridors and weekend conversions carry small surcharges.
Frequently asked questions
Which takes less on a $100 sale: Square or Wise?
Square takes $3.20 (net $96.80); Wise takes $0.93 (net $99.07). Wise wins by $2.27 at $100.
Which is better for international sellers, Square or Wise?
Square: 2.9% + $0.30 online / 2.6% + $0.15 in person. Wise: From 0.33% + small fixed fee at the mid-market rate. Check the regional variants above — rates change materially by country.
What is the effective take rate difference between Square and Wise?
At $100, Square takes 3.2% vs Wise at 0.9% — a 2.3 point gap before modifiers.