How to Cancel Square Card Reader (UK Guide 2025)
Square has no contracts or cancellation fees, but there are important steps to protect your data and payments. Plus better alternatives if you're switching.
Good News: Square Has No Cancellation Fees
There are no exit fees, no contracts, and no penalties. If you're looking for alternative providers with lower rates, we can help you compare and switch easily.
Compare Alternative Providers →Square Account Terms
Unlike traditional payment providers, Square operates on a pay-as-you-go model with no contracts:
Key Facts
- Contract: None - use it as much or as little as you want
- Cancellation Fee: £0
- Notice Period: None - close anytime
- Equipment: You own the reader (keep it or sell it)
- Data Export: Download before closing account
Why People Leave Square
Most UK businesses leave Square for one of these reasons:
- Fees Too High - 1.75% per transaction adds up for high-volume businesses
- Limited Features - Need more advanced POS capabilities
- Support Issues - Difficult to reach UK-based support
- Account Holds - Square sometimes holds funds without warning
- Better Rates Available - Providers like Dojo offer 0.3%+ for volume businesses
💡 Tip: Negotiate First
If you're leaving due to high fees, we can find you providers with rates from 0.3%- potentially saving £100-£300/month for busy businesses.
Before You Cancel
1. Export Your Data
Once you close your Square account, you lose access to all data. Export:
- Transaction history (last 12 months minimum)
- Customer database
- Product/inventory lists
- Sales reports
- VAT/tax documents
How to Export:
- Log into Square Dashboard at squareup.com
- Go to Reports → Export
- Select date range and data types
- Download CSV files
- Save securely (you'll need for tax records)
2. Wait for Pending Payments
Square holds funds for 2-3 business days. Don't close your account until:
- All pending payments have cleared
- Any disputed transactions are resolved
- Your bank account balance shows all transfers
3. Cancel Subscriptions
If you use Square's paid features, cancel them first:
- Square Appointments (£0-£50/month)
- Square for Restaurants (£12-£89/month)
- Square Payroll
- Square Marketing
- Square Loyalty
How to Close Your Square Account
Step 1: Contact Square Support
Square doesn't allow self-service account closure. You must contact support:
Phone (Fastest)
0800 028 0480
Monday-Friday: 9am-6pm GMT
Say "Close my account"
Have your email and last 4 digits of bank account ready
Through Square Dashboard only
Help → Contact Support → Account Closure
Response time: 24-48 hours
Step 2: What Square Will Ask
When closing your account, Square support will ask:
- Reason for closing - Be honest (helps them improve)
- Outstanding balance - Confirm no pending payments
- Data export - Confirm you've downloaded everything
- Tax documents - Ensure you have statements
⚠️ Retention Offers
Square may offer to reduce fees or add free features to keep you. Compare these against other providers before accepting - you might still find better deals elsewhere.
Step 3: Confirm Closure
Square will send confirmation by email. Make sure you:
- Save the confirmation email
- Verify your account shows as "Closed"
- Confirm no future charges will be taken
- Keep your data exports for 6+ years (tax requirement)
What Happens to Your Square Reader?
You own the hardware. Your Square card reader is yours to keep. Options:
Keep It
You can reactivate your Square account anytime and use the same reader.
Sell It
Square readers sell for £10-£30 on eBay/Facebook Marketplace.
Recycle It
Take to any electronics recycling point or send to Square's recycling program.
Better Alternatives to Square
If you're leaving Square to save money, here are the best UK alternatives:
| Provider | Rate | Monthly Fee | Best For |
|---|---|---|---|
| Dojo | From 0.3% | £0 (high volume) | High-volume businesses |
| SumUp | 1.69% | £0 | Lower fees than Square |
| Zettle | 1.75% | £0 | PayPal integration |
| Paymentsense | From 0.79% | £0-£25 | Restaurants & retail |
Save Money vs Square
Let us find you better rates. Most Square users save £100-£400/month by switching to volume-based providers like Dojo or Paymentsense.
Common Square Closure Questions
Will I lose my payment history?
Yes, once closed. Export everything before requesting closure. You need this for tax records.
Can I reopen my account later?
Yes, but you'll need to reapply as a new customer. You can use the same card reader though.
What about disputed payments?
Resolve all disputes before closing. If a chargeback comes after closure, Square will contact you and may take funds from your bank account.
How long does closure take?
Usually immediate once you speak to support. However, wait 7-10 days to ensure all payments have fully cleared.
Will Square report me to credit agencies?
No, not if you close properly with no outstanding balance. Square doesn't report routine closures to credit agencies.
Tax Implications
HMRC Requirement: Keep all Square transaction records for at least 6 years.
Export and save:
- Monthly/yearly sales reports
- VAT reports (if VAT registered)
- Individual transaction details
- Refund records
- Fee statements
🚨 Important
Square only stores data for closed accounts for 90 days. After that, it's permanently deleted. Export NOW before requesting closure.
Timeline: Closing Your Square Account
| Step | Timeframe |
|---|---|
| Stop taking payments | Day 1 |
| Export all data | Day 1-2 |
| Wait for pending payments | Day 3-5 |
| Cancel subscriptions | Day 5 |
| Contact support for closure | Day 5 |
| Account closed | Day 5 (immediate) |
| Final payment clears | Day 7-10 |
Get Expert Help (Free Service)
Switching from Square? We'll Help
Our team has helped 2,000+ UK businesses switch from Square to better rates. We handle the setup, data transfer guidance, and find you the perfect provider for your volume.
Call 0333 041 3933 for free advice. No obligation. We'll even help you close your Square account properly.