What Is Sq on Credit Card Statement

What Is “SQ” on Credit Card Statement?

Have you ever looked at your credit card statement and noticed a charge labeled “SQ” or “SQ*”? This may raise some confusion and make you wonder what it means and what you are being charged for. In this article, we will delve into the meaning of “SQ” on a credit card statement and answer some frequently asked questions about it.

SQ stands for Square, a popular payment processing company that allows small businesses and individuals to accept credit card payments. Square provides a range of services, including point-of-sale systems, online payment processing, and mobile card readers. If you see “SQ” on your credit card statement, it means that you made a purchase or payment using a merchant who uses Square as their payment processor.

FAQs about “SQ” on Credit Card Statements:

1. Why does it say “SQ” on my statement?
– It appears as “SQ” because the merchant you made a purchase from uses Square as their payment processor.

2. Is Square a secure payment method?
– Yes, Square is a reputable and secure payment processing company that uses encryption and other security measures to protect your card information.

3. Can I trust charges labeled “SQ” on my statement?
– If you made a purchase or payment at a merchant who uses Square, you can trust the charges labeled as “SQ.” However, always review your statement for any unfamiliar or unauthorized transactions.

4. Can I get a refund for a charge labeled “SQ”?
– Yes, if you have a valid reason for requesting a refund, such as receiving a defective product or being overcharged, you can reach out to the merchant to request a refund.

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5. How can I contact Square if I have any issues or questions regarding a charge?
– You can visit Square’s website and find their customer support contact information to address any concerns or inquiries.

6. Can I dispute a charge labeled “SQ”?
– Yes, if you believe a charge labeled “SQ” is unauthorized or fraudulent, you can contact your credit card company to dispute the charge.

7. Are there any fees associated with using Square?
– Square charges a processing fee for each transaction, which is typically a percentage of the total purchase amount. These fees may vary depending on the type of transaction and the merchant’s agreement with Square.

Understanding what “SQ” means on your credit card statement can help alleviate any confusion or concerns. Remember to review your statements regularly, keep track of your purchases, and reach out to the merchant or your credit card company if you notice any discrepancies or unauthorized charges.