Alright. no problem. I’ll lay it out for ya in another form.
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100 customers purchase something from the client on my site for $20.00 for a total of $2000.00.
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Upon charging their cards, the 2.9% + .30 comes of that $20, resulting in $19.12 per transaction, and a total of $1,912.00.
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This $1912.00 is now sitting in my Square account.
– $100 of this goes to me for my service cost.
– $300 goes to my client for the service they host through my site.
– $1500 goes to the customers who win the competition. (Its a video game tournament).
***My goal would be for each of my 10 clients to have their own square app, in which they would then use to charge me to get their $300. (all done within my site).
So, if they charge me, then it has to come out of the bank account, which I would have linked with the accounts card. So this would put another fee on top of the cost since it has to come out of the bank account, and then go to their square account, and can’t just be debited directly to the balance within my square account.
I really do not want to use a 3rd party app, as this makes for more moving parts, and creates room for error. Plus, it removes the stream line capability that I’m looking for. The less customers and clients have to dink around with different apps and sites, the better. I’m trying to do as much from within my own project for them as possible. Most 3rd party systems also charge fees. Paypal allows you to transfer between accounts I believe without a fee, but thats still incorporating yet another account. Additionally, the speed of an account to account transfer eliminates a lot of the processing time that can occur using bank accounts (up to 3 days to transfer at times).
I hope I made sense with all that. Was a lot to lay out! Sorry 