“Reviews Of The Square Comparison”
You may want to consider integrating your accounting package with your POS system like QuickBooks or Xero. Being integrated in this way means that you can also benefit from all of the additional reporting features of your accounting package in real time. Square integrates with; QuickBooks Online, Zoho Books, Xero, Kashoo Accounting, Commerce Sync, OneUp, Shogo and TaxJar.
Square requires an active Internet connection to process payments. This can be either a Wi-Fi connection or a data service (such as 3G, 4G or EDGE). Choose Wi-Fi over your cellular network for a faster processing experience with Square.
A reserve (often called rolling reserve or hold back) is when a credit card processor routes all or a portion of funds from a merchant’s sales to a non-interest bearing account until funds in the account meet a certain balance. For example, if a processor requires a $10,000, 5% rolling reserve on a business’s account, the processor will withhold 5% from each deposit until the balance of the reserve account reaches $10,000. It’s then up to the processor to decide at which point to release the reserve account, if ever. A traditional credit card processor will typically notify a business if a reserve is necessary when the business applies for a merchant account. However, since Square does not have an application process, a reserve may be imposed, increased, reduced or removed at any time at Square’s sole discretion. If your business operates on thin margins, a sudden reserve or more will likely be devastating. There’s no one at Square you can contact to inquire whether your business is likely to incur a reserve, so consider this carefully as you determine whether Square is right for your business.
I used to love Square because of its ease of use. When we heard they had a cash advance program for merchants, we decided to use it (despite the high fee) and we were delighted with how easy and stress-free it was to pay back.
I have to ask the question, are all these problems occurring with swiped cards and customer signatures? I’ve processed as little as $10 in a week and over $5000, all with signatures and have never had a email or warning or hold on any funds.
I cannot believe this company. I signed up and verified my account. All was fine until I ran my first two transactions. They were keyed in. One for $100 the other for $500. This was a Thursday. Friday..no deposit…Monday no deposit. That Wednesday I decided to send them an email.
We can create custom pricing packages for some businesses with annual revenues over $250K and an average ticket size over $15. If that’s you, get in touch—we’ll even review your current statement with you.
My retail store switch to square a year ago. It’s been the best thing we ever did. I have been reading all the complaints and wonder what company your dealing with, the ease of completing sales and the ability to instant deposit the funds in my account is priceless. We also deal with square capital and presently working on paying off our third agreement. Square is a top notch company. I rate them 5 stars– end of story.
Customer support is extremely bad. In the past I have received payments the next day. This time they arbitrary decided to held the funds. They are not a reliable company and they have lost my trust as a company that delivers. In the business community I need to rely on a company that delivers what they say they will do and have some kind of live customer service. Going to look for another source for CC merchants
So why did Square refund the money? Because the client said they did not recognize the charge. When I finally threatened to take the client to court by sending them a collections letter.. what did they say? They did not recognize the charge because it came through from the vendor NAMED SQUARE. Now, why in the hell did Square refund based on the fact that the vendor named SQUARE was unrecognized??? Completely ridiculous.
This is the worst company out there, I don’t know how they are still operating. I will do everything in my power to share how a horrible company they are. I have been waiting for weeks to get W2 for employees and Taxes are due in just two weeks! I have been e-mailing them everyday hoping to get a response from them and nothing so far.
Initially I thought Square would be a great thing for my wife’s cake decorating business. However yesterday I received a notice from Square that my account was a High risk and they were deactivating my account and holding over $1700 of my money for 90 days (or I could refund to the cards and seek alternative payment). I think this is an extremely poor and unprofessional business practice as it seems like on a whim they can close your account when customers like me have to refund money (in my case to 12 customers) and try to get money from them. Needless to say I am furious with this crap! Scammers.
On the other hand, if you run an established, low-risk, in-person business, accept payments via a chip card or NFC reader, have small average transactions and a moderate weekly sales volume with little potential for chargebacks, in all likelihood Square will be a stable option for your business. You should still consider other options to make sure that it’s the best service for your needs, but definitely keep Square on the table. For some businesses, it really is an amazing value.
I got the veggie delight with brown rice and the veggies are fresh and not overcooked and the sauce is flavorful but not overpowering. I was a little sad that there were only two pieces of fried tofu in the whole dish though.
I am excited to start my new business and decided to use Square. I have a iPhone 3G phone and was able to download the Square application and apply for the card reader. I notice that the reader is compatable with 1Phone 4S, 4G. Do you think I will still be able to use the reader on my iPhone 3G??
Overall I’m probably biased because I’ve had square so long but I can say I’ve never had a problem with it. The readers are free so if one gets worn out and stops reading cards they basically have a new one to you within the week. I’ve heard too many negative revues of PayPal that my first choice given he option would be to go with square. The extra .05% for processing fees is probably worth it, especially since you’re able to swipe on any card including AmEx with no extra fees.
First off, the security factor both merchant and consumer. I know as a middle-aged consumer, i want a physical trace of my transaction such as a paper receipt. Plus as a merchant, i want physical proof of the swipe and the customer’s signature as well.
I am in the middle of a huge mess with this company. It involves a chargeback that was made against me by mistake. The customer who make the chargeback has voluntarily reversed it. Square says it still is going to take up to 60 business days to get my money back!
I did get my money but it took 5 months and here is how I was able to contact them. I had two merchant accounts with Square. Somehow the account that they were holding the $15,000 did not offer an option to get a code to call them. It seemed like they knew there was a claim to be made so that option, the code to call them, was not available anywhere when I logged into the account. On the other account it was available so that is how I was able to call them. I would request a claim code through the other account which had no pending transactions and once I was able to get through and speak with an operator, who was only capable of seeing the balances on her screen, I would explain what I was going through with my other account. I spoke with them like 10 times without getting any immediate response. All they said was that they had to pass the case to their supervisors and when I requested to speak with the supervisor they said that they were not available. Square is a scam. They should not be allowed to conduct business. They are committing conversion and illegal appropriation of funds which both are illegal. Stay away from Square!
So now I am out several hundred dollars plus my time spent in figuring this out because transaction support for this reader was terminated; probably on August 10 or thereabouts and with it, the capacity for transactions to be processed by Square. This despite the fact that the offline mode continued to show the payment was authorized.
Good luck to anyone dealing with Square, my testimony was posted in September. I did not have any luck with the social media. Someone had posted about posting on @Jack relentlessly to get a code for phone access. I posted on Square, @Jack, and other small business posts every 5 min. for 2 hours, then every 15 min for another 6 hours. Beyond that I posted several times daily over many weeks, I got nowhere.
If you accept Cash or Other Tender without an internet connection, you may see a list of uncompleted payments in-app. The payments will be recorded when Wi-Fi or data service is restored. This only applies to Cash or Other Tender processed with the Square app.
As is the case with most business decisions, you have to carefully weigh every way that the decision will impact the business and its customers. Your post is nicely done, and the chart makes it easy to compare the two services. Thanks for your time, research and posting efforts.
The problem that nobody knows about is that the almighty Uncle Sam has implemented new policies, and all credit card processors have to oblige. Uncle Sam has told the CC processors that THEY (square) are responsible for policing and monitoring ALL the transactions to make sure that everything is on the up and up. too many prostitutes, drug deals, terrorist etc. That’s fine, but Square has ABSOLUTLY NO RIGHT to hold my funds (which they did) and tell me that I cannot have my money until I provide them with a copy of my LLC along WITH my LLC tax ID# and copies of the invoices. WTF! That’s blackmail, and there was NO email or contact telling me that there was a change of policy. Square is beyond unprofessional, and a complete waste of anybody’s time.
I’m sorry to hear of your frustrations with Square. If you’re ever in the market for a new processor, be sure to check out CardFellow to get quotes from several processors and benefit from our strict enforcement of rules for the processors we work with.
Poor customer support, rather no customer support. Squareup lists a phone support number but requires a Customer Code in order to accept the phone call. I have an active account and have logged onto the site and searched through accounting and dashboard pages and found no Customer Code. The support page doesn’t even provide instructions on obtaining code. It appears to be purposely hidden to reduce support calls from customers.
To some extent reserves, frozen accounts, and terminations are just risks that come with the territory of accepting card payments. They can happen no matter what company you process with, whether you’re using a traditional merchant account or a third-party mobile processor like Square.
I’ve been a customer with square for several years and I never had any chargebacks whatsoever. one weekend I did a blowout sale on my merchandise and sold all of my products at a super low discounted rate. square deactivated my account because I processed to many pre paid cards that weekend.
Did you tell that you are processing such a huge amount. That will alarm their fraud alert, who knows what you are selling. I know a drug dealer that uses sqaure for his dealings, but he was smart & emailed sqaure that he is door to door salesman for some direct sales company & emailed the paper work to them, When i started using them for taxi paymemt. I emailed them my chauffeur licence & also amount of my each sale. They replied in 3 business days & all was sqaured away. Trust me i have used other services & they are so freaking horrible.