In this article, you'll find out if Square works in Canada, some drawbacks if it is available, and some possibilities. Stay tuned to learn more about Square's functionality and limitations in the Canadian market.
Does Square Work In Canada?
Square is available in Canada, allowing businesses to utilize its comprehensive suite of services. These services include point of sale systems, payment processing, and online store setup, among others. Canadian users can choose between English and French language options, ensuring accessibility for a broader audience.
To process payments in Canada, users must have a Square Canada account, as a US-based account cannot be used for transactions within Canada. Additionally, region-specific hardware is required, meaning a US card reader will not function in Canada. This ensures that Square's services are tailored to meet the specific needs and regulations of each country.
Fees and Charges for Using Square in Canada
Here are some general costs that users might encounter when using Square in Canada:
- Transaction Fees: Square typically charges a percentage fee per transaction. This fee is deducted from the total amount of each sale.
- Currency Conversion Fees: If transactions involve currency conversion, additional fees may apply. These fees cover the cost of converting one currency to another.
- Withdrawal Fees: Fees may be charged for transferring funds from your Square account to your bank account. These fees can vary based on the bank and the amount being transferred.
Is Square the Best Option in Canada?
Even though Square is available in Canada, it might not be the best option for users due to certain limitations and restrictions that could impact its usability and convenience.
- Region-Specific Accounts: Users need separate accounts for the US and Canada.
- GPS-Based Restrictions: US Square accounts cannot process payments in Canada.
- Hardware Limitations: Square readers are region-specific and won't work across borders.
- Bank Account Requirements: Canadian users must link a Canadian bank account.
- Account Switching: Users must sign out and sign in with the appropriate account when crossing borders.
Alternatives to Square in Canada
1) OneSafe
OneSafe is a leading alternative payment solution in Canada, offering ease of use, lower fees, and superior customer support. Its features include simple onboarding, multi-currency support, and seamless global payments, making it a superior option for businesses seeking efficient and cost-effective financial services.
OneSafe Reviews
OneSafe has received positive feedback from users who appreciate its comprehensive features such as ACH, Crypto, Wire deposits, and Virtual cards. Users have praised the company for its support for most businesses, making it a preferred choice for many. Although specific awards are not mentioned, the positive reviews highlight OneSafe's effectiveness and reliability in providing financial services.
2) Wise
Wise is a viable alternative payment solution in Canada, offering key features such as a multi-currency account, international money transfers, and a Wise debit card. Benefits include lower fees, no hidden charges, and the ability to hold and convert money in over 40 currencies, ensuring fast and secure transactions.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with government restrictions in some countries, problems with money transfers being returned without notification, and challenges with document approval by the support team. Check out more Wise reviews here.
3) Paypal
PayPal is a reliable alternative payment solution in Canada, offering secure payments, global money transfers, and the ability to link multiple cards for easy checkout. Key benefits include 24/7 fraud monitoring, Buyer Protection, and customizable digital payment options, making it a versatile choice for both individuals and businesses.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 based on 2,117 reviews. Users frequently mention high transaction fees, issues with funds holding, and poor customer support. Check out more PayPal reviews here.
Frequently Asked Questions about Square in Canada
Can I use my US Square account in Canada?
No, you must create a separate Square Canada account to process payments in Canada.
Are Square's transaction fees the same in Canada as in the US?
No, transaction fees may vary between the US and Canada due to different regulations.
What languages does Square support in Canada?
Square supports both English and French language options for Canadian users.
Do I need a Canadian bank account to use Square in Canada?
Yes, you must link a Canadian bank account to your Square Canada account.
Will my US Square hardware work in Canada?
No, Square hardware is region-specific, and US devices will not function in Canada.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Canada is crucial for seamless business operations. While Square offers various services, alternatives like OneSafe provide lower fees and superior support. Explore OneSafe for a more efficient financial experience. Ready to make the switch? Sign up to OneSafe today!
