Spotted “Square Inc” on your bank statement? It’s not fraud. Square is a payment company used by small businesses, cafés, market stalls, and online shops. When you pay at one of these businesses, the charge often shows as “Square Inc” instead of the shop name.
What Does Square Inc Mean on Your Statement?
Square Inc is a payment processing company. When you see this on your bank statement, it means you made a purchase at a business that uses Square to accept card payments.
Square is popular with independent retailers, market traders, salons, restaurants, and online stores across the UK. Because Square handles the payment on behalf of the merchant, their name appears on your statement rather than the actual shop.
This is completely normal—not a sign of fraud.
How Square Inc Appears on UK Bank Statements
| Statement Description | What It Means |
|---|---|
| SQUARE INC | Standard Square payment |
| SQ * [Business Name] | Square payment showing the shop name |
| SQUAREUP.COM | Online Square transaction |
| SQ *GOSQ.COM | Square invoice payment |
| SQUARE *[Name] | Square payment with partial merchant name |
If you see “SQ *” followed by a name, that’s the business where you made the purchase.
Why You See Square Inc Instead of the Shop Name
Square processes payments for thousands of businesses. When transactions go through, some banks display “Square Inc” as the payment processor rather than the individual merchant. This happens because:
- Small businesses often don’t have custom payment descriptors
- Square bundles transactions from multiple merchants
- Online purchases and invoices typically show the processor name
Businesses That Commonly Use Square
If you’re trying to remember where you spent money, think about recent visits to:
- Market stalls and pop-up shops
- Cafés and independent coffee shops
- Hair salons and barbershops
- Restaurants and food trucks
- Fitness instructors and personal trainers
- Online boutiques and small e-commerce stores
- Tradespeople and service providers
How to Identify a Square Inc Charge
Can’t remember the purchase? Follow these steps:
- Match the date and amount to your receipts or calendar
- Check your email for Square receipts (they send digital receipts if you provided your email)
- Think about small businesses you visited recently
- Log into squareup.com if you have a Square account
- Contact your bank for additional transaction details
Is Square Inc Legitimate?
Yes. Square is one of the world’s largest payment processors, founded in 2009 and used by millions of businesses globally. A Square Inc charge on your statement is almost always a legitimate purchase.
However, if you:
- Don’t recognise the amount or date
- See multiple unexplained Square charges
- Know your card was lost or stolen
Contact your bank immediately. UK regulations protect you from unauthorised transactions if reported within 13 months.
Square Inc vs Other Payment Processors
| Processor | Statement Name | Common Use |
|---|---|---|
| Square | SQ *, SQUARE INC | Small businesses, markets, cafés |
| SumUp | SUMUP | Independent retailers |
| Zettle | ZETTLE, PAYPAL ZETTLE | Small businesses (PayPal-owned) |
| Stripe | STRIPE, SP * | Online payments |
| PayPal | PAYPAL *, PP * | Online and in-person |
| Worldpay | WORLDPAY, WPY * | Larger retailers |
What to Do If You Don’t Recognise the Charge
- Check the date and amount against your receipts
- Think about recent purchases at markets, cafés, or small shops
- Review your emails for Square receipts
- Contact Square support at squareup.com/help
- Report to your bank if you believe it’s fraudulent
Track Your Transactions More Easily
Payment processors like Square, SumUp, and Stripe can make statements confusing when the shop name doesn’t appear clearly. Converting your bank statements to Excel format helps you search, filter, and match transactions to actual purchases.
yourbankstatementconverter.com transforms PDF statements into organised spreadsheets—making it simple to track spending and spot anything unusual.
Frequently Asked Questions
Is Square Inc a scam?
No. Square Inc is a legitimate payment processor used by millions of businesses worldwide. The charge means you made a purchase at a shop using Square.
Why doesn’t the shop name show on my statement?
Square processes payments for many merchants, so their name sometimes appears instead. Smaller businesses may not have customised their payment descriptors.
Can I get a refund for a Square transaction?
Contact the business directly for refunds. Square only processes the payment—the merchant handles refunds.
How do I contact Square about a charge?
Visit squareup.com/help with the transaction date, amount, and any reference numbers from your statement.
What if I see multiple Square charges I don’t recognise?
Contact your bank immediately. Multiple unrecognised charges could indicate fraud. UK regulations protect you from liability if reported promptly.
