Compare
SwitchKeep vs Square.
Square is a payments company with its own invoicing, point of sale and card readers, at published flat rates. SwitchKeep puts your own merchant account inside the invoicing software you already use. Here's how the numbers compare, as of October 20, 2026.
Published rates, side by side.
Square's figures are for its free plan. Its paid plans list lower processing rates in exchange for a subscription.
| Payment | Square Free plan | SwitchKeep, on your own merchant account |
|---|---|---|
| Online or invoice card | 3.3% + 30¢ | Interchange plus a margin, typically about 2.1–2.4% all in |
| Keyed in or card on file | 3.5% + 15¢ | Interchange plus a margin. Keyed cards carry higher interchange |
| In person, tap or dip | 2.6% + 15¢ | No card reader. Cards are keyed in Chrome or paid by link |
| Bank payment on an invoice | 1%, $1 minimum | Usually a flat few dollars per payment |
| Subscription | $0 on the free plan | $0 from SwitchKeep. Your merchant account may carry account fees |
| Where you invoice | Square's own invoices | The web-based software you already invoice from |
Square: Square US fees, read on October 20, 2026. Merchant account: Merchant Cost Consulting, a typical range rather than a SwitchKeep rate. Rates change: check Square's current pricing before you decide. SwitchKeep is independent and isn't endorsed by Square.
The math
One $5,000 invoice.
| Paid by | Square Free | Own account |
|---|---|---|
| Card, online or on the invoice | $165.30 | about $112.50 |
| Bank payment | $50.00 | a few dollars |
Square: 3.3% + 30¢ and 1% of $5,000. Your actual rate depends on your cards and your account.
When each one fits.
Square fits when
- You sell mostly in person and want its point of sale and card readers.
- You want a self-serve signup online, and to invoice from Square itself.
- Your card volume is small enough that account fees elsewhere would eat the difference.
SwitchKeep fits when
- You already invoice from web-based software and want to keep it.
- Most payments are on invoices, keyed in or by bank, where flat rates cost the most.
- You want interchange-plus pricing with each part on your statement.
FAQ
Questions.
Can I use SwitchKeep with a Square account?
SwitchKeep takes payments on your own merchant account, set up through SwitchKeep Direct or your advisor or processor. Tell us what you use today and we'll say what switching would look like.
Is Square's free plan really free?
Square lists no subscription on its free plan: you pay its processing fees on each payment. Its paid plans add a subscription and list lower rates.
Which is cheaper for me?
It depends on your volume and how you take payments. Send a statement and we'll price the same month on your own merchant account.
Compare with your own statement.
We'll price last month's payments on your own merchant account, line by line.