Yes, there is a charge for using SumUp. The fees vary depending on the payment method used and the currency being processed. For card payments, SumUp charges a fee of 2.75% of the total transaction amount (1.95% + 0.
80% for processing fees). For bank accounts, the fees are a few euros for each transaction below €15, and 1.5% for transactions above €15. You can also purchase additional features, such as the EMV Chip & PIN terminal, which require a one-time or monthly payment.
All fees are deducted from your merchant balance at the end of each processing day.
Does SumUp go straight to bank?
No, SumUp does not go straight to bank. SumUp is a payment system that allows merchants to accept card payments from customers. Through SumUp, customers can make either one-off card payments or use their cards to top-up a virtual wallet account.
With a SumUp account, business owners can view their real-time transactions, store customer information and manage their finances, as well as accept payments securely in-store, online, and via contactless methods.
SumUp then processes the payments and pays out the proceeds to the linked bank account. However, unlike some other payment solutions, the funds do not go straight to the bank, and instead need to be requested and transferred manually by the merchant.
Do you need an app to use SumUp?
Yes, you do need an app to use SumUp. The SumUp app is available for both iOS and Android devices and is required to use the SumUp Card Reader. With the SumUp app, you can accept various types of payments, set up discounts and special offers, enter personal expenses, create and print invoices, create business analytics and insights, and send invoices via SMS, email or WhatsApp.
You can also use the SumUp app to monitor transactions, issue refunds and manage your teams. The app gives you full control of all your transactions as well as 24/7 access to your store’s sales history.
With the SumUp app, you can easily track your business performance and make changes if needed.
How do you pay with SumUp?
Paying with SumUp is a simple and convenient process. To pay, customers can either use their contactless card, Apple Pay, Google Pay, or a chip & PIN payment. All payments can be completed via SumUp’s app, which can be installed on any smartphone.
To pay with SumUp, customers need to download the app, sign up for an account, and link their bank account. Afterward, customers can make payments through the app in several ways.
If customers have added a contactless card, Apple Pay, or Google Pay option to their account, they can tap their card on a SumUp card reader or payment stand and select their preferred payment method.
Alternatively, customers can start a payment in the SumUp app and scan a QR code to complete the transaction. Lastly, customers can manually enter their card details into the card reader or payment stand to complete a chip & PIN payment.
Once payment is confirmed, the app will show an instant receipt and customers can choose to get an email receipt or a printed one. Additionally, customers who have signed up for SumUp’s loyalty program, SumUp Rewards, can track their loyalty points directly from the app.
Overall, SumUp makes it easy and secure for customers and merchants to process payments with a few simple taps.
How long does SumUp take to payout?
SumUp payouts usually take up to 3-5 business days, depending on your bank. Your payout amount minus any applicable fees will be transferred into the bank account linked to your SumUp account. When the funds are transferred, you will receive an email with a confirmation.
Generally, the transaction will appear on your bank account balance within 1-2 business days. If you have not received your payout after 5 business days please contact the SumUp customer support team.
They have experience dealing with this type of issue and will be able to help you.
How much can I withdraw with SumUp?
You can withdraw up to €2,500 per day with SumUp, with no monthly limits. The amount you can withdraw at once depends on your account activity and is limited to a certain percentage of your monthly card turnover.
To find out your exact withdrawal limit, you can log into your account and go to the Withdraw section. If you wish to withdraw more than your current limit, you can contact SumUp’s customer care. It is also important to note that there may be additional fees associated with your withdrawal.
How do I link SumUp to my bank account?
In order to link your SumUp account to your bank account, you must first create an online banking profile on the SumUp website. Once you have completed that, you will need to input your bank’s routing number, as well as the account type, account number, and your name on the account.
Make sure that all this information is correct. Once submitted, SumUp will verify the information and send you a confirmation email. Upon confirmation, you’ll be ready to start accepting payments and your funds will be deposited into your account.
You can manage and track your deposits in the SumUp dashboard. If you have any questions along the way, the SumUp support team is available to help.
What does paid out mean on SumUp?
Paid out on SumUp means that a merchant has requested and been successfully paid out for their funds from their SumUp account. All payments from card sales that have been accepted will be settled into your SumUp account, where they will appear as ‘Pending Funds’ until the payout has been successfully initiated.
Once a payout has been initiated, the funds will then be transferred to a bank account and the status of the payout in the SumUp Dashboard will be changed to ‘Paid Out’.
When a merchant has initiated a payout request, a confirmation email is sent to let them know that the process has been initiated, and a further notification will be sent once the funds have been successfully transferred to their bank account.
The payout window may take up to two business days, depending on the banking institution that the merchant is using.
The money from the ‘Pending Funds’ section of the SumUp account should then be added to the merchant’s bank account when the payout has been successfully completed. It’s important for merchants to keep track of their payouts in the SumUp Dashboard, to ensure that all card payments have been settled into their account as expected.
How much does SumUp charge per transaction?
SumUp charges different fees for different types of transactions. Payments with credit cards attract a 2.75% + 0.25 fee, while Maestro and Visa Debit cards are charged 2.75%. MasterCard debit cards are charged at a rate of 2.5%.
American Express cards incur a 3.2% + 0.25 fee. Contactless payments, such as Apple Pay or Google Pay, attract a 0.13% fee plus 0.25. Finally, payments made via 3D Secure attract a 0.5% fee. All payments have a minimum fee of 0.25p.
Is SumUp free to use?
Yes, SumUp is free to use. Signing up is free, and so is setting up a daily processing limit and getting a free card reader. You only pay a fee on each transaction, which is a percentage of the total payment amount.
Additionally, there are no setup or exit fees, and no contract, so you can cancel at any time.
What is better than SumUp?
This really depends on what you are looking for in a payment processing solution. SumUp is a great payment processor for those who need a payment solution that is simple and easy to set up and use. However, there are other payment processors offering different features and benefits.
For example, PayPal offers a comprehensive payment processing solution, with features like invoicing, recurring payments, and mobile payments. Adyen is another popular option, offering a range of features designed for larger merchants, including multiple payment methods and integrations with leading ecommerce platforms.
Square is another good option, offering an easy-to-use mobile payments system and features like order management and customer loyalty programs.
Ultimately, the best payment processor for you will depend on what features you need, what kind of pricing you need, and how much time you are willing to invest in setup and maintenance. It is important to compare processers and their full range of features and services to ensure you make the best decision for your business.
Can I use SumUp for personal use?
Yes, you can use SumUp for personal use. SumUp allows you to securely and quickly make and receive payments with ease. This includes both online and in-store payments, so it is perfect for individuals who need to make everyday purchases.
To use SumUp for personal use, you just need to create an account with the service and then download the SumUp app for your smartphone. Once you’re set up, you’re ready to start making payments. The app allows you to pay with your debit or credit card and connects you with additional features, such as invoicing and budgeting.
Plus, you can link SumUp to other services like PayPal, Apple Pay and Android Pay, making the payment process more efficient and seamless.
Is SumUp card reader good?
The SumUp card reader is generally regarded as a good option for businesses and individuals that need a reliable and easy-to-use card reader. The card reader is user-friendly, with a sleek and intuitive design, and is suitable for all major debit and credit cards.
It supports contactless, chip and pin, and magstripe payments, as well as Apple and Android Pay, allowing you to accept payments from any customer wherever they are. SumUp is also compliant with the PCI DSS and EMV security standards, as well as offering end-to-end encryption, meaning it is secure for both customer and business use.
The SumUp card reader also has competitive fees for processing payments, so you can be sure you are getting the best value for your money. Additionally, it comes with a range of business features that allow you to manage and track your payments easily from your phone.
All in all, the SumUp card reader is a great option for any business or individual looking for a secure, easy-to-use and reliable card reader.
Can you use SumUp without WIFI?
No, SumUp can only be used with a Wifi connection. If a merchant is out of Wifi range but in a location with a 4G or 3G connection, they can use a mobile hotspot device such as a MiFi router to provide a Wifi connection to the SumUp card reader.
Merchants will also need to ensure that the internet connection they are using is secure, as this is a requirement for using the SumUp service.
Is the SumUp App free?
Yes, the SumUp App is free – you can download it for free on your mobile device through the App Store or Google Play Store. Once you’ve downloaded the app, you’ll be able to register an account and start accepting payments quickly and easily.
It is a secure and simple payment solution that will help you to maximize your earnings. With the SumUp App, you can accept all major debit and credit cards and even use e-wallet apps like Apple Pay and Google Pay.
You don’t have to worry about hidden costs, because no monthly fees or minimum charges apply when you use the SumUp App. The only time you’ll be charged for using the SumUp App is when you actually make a payment, as you do have to pay a small fee for each one.
How do I get the SumUp App?
To get the SumUp App, you can go to your device’s app store and search for “SumUp”. Once you find the SumUp App, simply click “Install” or “Get” and the App will begin to install. Once installed, open the App and follow the onscreen instructions to set up a SumUp merchant account.
You’ll need to provide your name, email address, a couple of documents for verifications (proof of identity and address) and, depending on your country, you may need to submit additional documents for compliance purposes.
Once approved and your documents are verified, you can start accepting payments.
Do I need a business bank account for SumUp?
Yes, you will need to open a business bank account if you decide to use SumUp. This is because SumUp requires its users to have a business bank account in order to withdraw funds and receive payments.
You will also need to use the business bank account in order to receive any cashback or rewards you may be entitled to as a SumUp user. It is important that you open a business bank account with a registered financial institution in your country of residence.
To open a business bank account, you will need the proper paperwork such as your business registration, identification documents and any other documents requested by the bank. Once you have a business bank account, you will need to link it to your SumUp account in order for it to work.
How do I transfer money from SumUp?
Transferring money from SumUp is simple and easy. All you need to do is access the SumUp Dashboard and select ‘Transfer’ from the menu on the left-hand side. Select the account you want to send the money from, enter the amount you’d like to transfer and any relevant reference information.
Once you’re happy with the details, click ‘Send Funds’.
The money should arrive in your account within 1-2 business days and you’ll receive a confirmation email once it’s been completed. Before you transfer money, be sure to check your account balance and any applicable charges associated with the transaction to ensure you’re not overcharging.
Also, please note that transfers to certain countries may take longer than the usual 1-2 business days.
If you have any issues with your transfers, you can contact SumUp’s support team to get assistance. They have 24/7 customer service via email and chat and can help resolve any issues quickly.