“Square Credit Card Limits Comparison”
2. Age of business: If you have a longstanding, well-established business with loyal customers and a lengthy processing history, you pose less risk to Square than a business that is brand new with no processing history or business records. The likelihood of a business with a decade of processing history and general good standing suddenly becoming involved in serious financial fraud is much less than that of a business that just materialized when filling out the Square application. Of course, having a seasoned business doesn’t make you immune to these issues, and being a startup doesn’t automatically curse you, but if you can produce at least a few months to a year of financial documents to placate Square if trouble arises, you will significantly increase your chances of a good outcome. Again, although the signup process is more in-depth, those of you who have a new business and value uninterrupted cash flow might want to consider just applying for a traditional merchant account.
Square Point of Sale is a transparent merchant services provider that offers flat fees and low-cost, iPad-compatible equipment that’s ideal for small vendors, especially if they sell on the go. However, it may not be the best choice for high-volume transactions.
“Wouldn’t it be great,” I mused, “if Square added a way to accept credit cards online, so I could use them for e-commerce, too.” And, sure enough, they did. It was easy to use, and I eagerly set up their service as the way to process all orders on my store’s site. This was in July of 2013, and for a few months everything was good. Then the trouble began.
Our org has only used Square. We were somewhat disappointed as we had no way of knowing who our customers were. When I contacted Square they told me that otherwise there would be privacy concerns. I am told that you can tell who your customers are with PayPal Here. Is this true?
As of today, stay away from square. I recently had 2 transactions where square automatically deducted funds for the 1st transaction and refunded the buyer. Nothing i can do. The 2nd dispute was today, after a customer complained 5 months later. Luckily square gives you a heads up, that they will deduct your account to refund the buyer. because of this, i called and shut down my bank account today that’s attached to square. I will not allow buyers to rip me off. Square won on the 1st transaction, but will lose on the 2nd, as there is no bank account. This proves that square offers zero protection for it’s sellers. I strongly suggest you stay away.
Realizing i had no chance to argue or fight these guys, i complied and forwarded them my information. After another week of emailing them over and over and over, i finally got a response yesterday (47 days from the transaction date). They sent me the below response:
Worst customer service .They are holding a large sum of money they say for 90 days after complying with all their request.They have shut down my account with no comunication. I will do every thing in my power, that other people do not come subjected to letting this company steal there money. I am reporting them to every agency and contacting my attorney.Worst service ever.
THIS IS SO FRUSTRATING!!! not able to to talk to any support members is a big lost. We have used Square for 3 yrs and never had any reason to believe that our funds will be on hold and need documentations to prove our transaction. This is bullshit! we have transaction all our costumers credit cards through Square and now this! The phone number provided with a need of a code in order to supposedly speak to someone is just a why to frustrate you even more! this is a joke! and fraud fixing to happen. BEWARE EVERYBODY!!!! you cannot and will not talk to anyone in their company RED FLAG!
The saddest thing is I do not know anything. They have kept me so much in the dark with respect to thier chargeback defense team – that I don’t know if they just kept my money and are laughing all the way to their bank or what.
The burden of proof lies on the merchant with chargebacks. If you can prove that you sold the product as is, which may be hard if you are doing internet sales and not meeting the people you (in your described situation) should be ok.
someone paid for a service, i did the service, and turns out the card was a fraud even after checking ID. They took $1,400 out of my checking account and never put it back. I am still figuring out the best way to sue them. I know there is a class action brewing as I’ve spoken to several people with Square problems.
Square card is a scam…I have over 900.00 that they are holding for no reason at all. I was sent an email saying they are closing my account and the funds are being held for 180 days. six months…If you are looking to use square card, DO NOT DO IT. Find another company or another provider.
Payment Depot has a number of big-name, national clients under its belt, like Subway and Arco. It backs up its range of pricing plans with solid customer support and transparent pricing, making it a great choice — especially for companies dealing with larger transactions.
They have my $2,000 so they don’t care. They have no interest in appeals or clarifying situations so that all customers are satisfied. They only care about the money they get to hold and vaguely reviewing businesses only to make final decisions as if all aspects had been looked into.
I have used Square since April of 2013 and there are no charges anywhere except in an email that notifies me that a transaction has taken place and 2.75% was taken out. I can handle that! Good luck to you, Alex.
Square will send an email to the address associated with your account. Click the verification link in this email to confirm your debit card within 24 hours of receiving it. If you can’t find the email, check your spam or resend the email from Deposit Settings.
So with each new product, Square must consider how it might affect its relationship with its financial partners. Will it rankle them? It’s clear the Square credit card would likely ruffle feathers. The banking source breaks down the problem: “When the payment company starts to take over the consumer relationship, that’s where the networks would be like, ‘Wait a minute, your business was built on the back of our credit and debit cards, and now you’re trying to get people to not use our cards but rather link their checking account to yours?’ The way to think about it is, what does the consumer think he or she paid with? If the attribution goes to Square instead of Citibank or Chase or MasterCard, that’s when the banks or card companies start to say, ‘I’m becoming separated from my consumers.’ They’re a utility at that point, and consumers don’t feel passionate about utilities.”
Now, she has a brick and mortar store to manage as well, and she feels that Square just gets it: “I did a lot of research in terms of different point of sale systems and what they had to offer,” Madden explained in a phone interview. “Because Square is so meticulous about releasing software only when it’s absolutely ready and has mobility, it’s the most amenable to two business models. That’s something that, to this day, is hard to find.”
Square partnered with Apple for a promotion when customers use Apple Pay. Starting today, Square merchants won’t pay any processing fee for the first $12,000 in Apple Pay transactions — that represents around $350 in fees.
Below is a snapshot from an actual merchant who was using Square before switching to Payment Depot. He processed $26,823 and paid a total of $398.34 in fees (1.48%) with Payment Depot. This same bill would have been $737.63 (2.75%). This is the type of merchant that Square is referring to in their earnings report. He will save over $4,000 this year by switching to Payment Depot to process credit cards.
Actually….Tom……Square IS NOT within the scope of the law. Just because “They” make up their own rules with a USER AGREEMENT, doesn’t make it legal. I cited, in my “Demand Letter”…..several laws and statutes they violated in Ma. as regards to “Fair Trade and Business Practices”. California laws DO NOT APPLY here, as my transactions were solely done in Ma. Besides the fact that they hold Ma. state sales tax on these goods. This can be “construed” as “hurting The Commonwealth” as stated in one law. Only “they” may not think so. This companies “reign of terror” may be coming to an end shortly. There are TOO many people that have been ripped off. I know the government is slow in working……but they cannot dismiss what is happening with this Co. forever!
Use Feedback to refund customers or send coupons to those who have had negative experiences. Resolve issues immediately and privately before they reach a public forum—so you can improve customer loyalty as well as your bottom line.
The company’s payments app, Square Register, is compatible with both Apple and Android operating systems. Square also offers business support software, such as the free analytics Dashboard app that helps you monitor your sales data and the Square Appointment app that can help service-oriented businesses schedule and track appointments.
Lightning Adapter for Square Readers: Do you have one of the latest iPhones? No worry — while the Apple-supplied adapter will work with the Square Reader, Square has its own, much slicker, adapter available for $15.
While at Mallory Square in Key West I was looking for a smoothie and came across the Key West Coffee Co in the Clinton Square Market on Front St. Not only did I get a fresh smoothie, I got a panini too! Delish! It was big enough for 2 and very tasty. It was so good we went back again the next day.
Also, the “Guest” feature was accidentally turned on when I was exploring adding payroll/employees to Square. Once it’s activated, it can’t be removed. So we now have to hit Guest each time instead of it automatically opening up the Square Register.
Yep! Square loses money on many transaction scenarios, including about 100% of American Express transactions, since retail AMEX transactions are 2.89% + $0.10. Small transactions are particularly troublesome, since no per-transaction/authorization fees are charged for card-present with Square. Square’s overall profitability is a popular area of speculation.
Sounds like the same problem as I am having. Use my phone for my transactions, had to do a reset on the phone. Now it won’t let me log into my account and they will not respond to any emails. I am waiting, but have limited faith in their customer support.
Square is good for on-the-go transactions we do. We are a mobile food truck/pre-packaged meal service and this has worked well for us. Had a few times where customer support was needed and couldn’t reach a live person…that was frustrating. Overall, good product, reliable.
This was honestly the most frustrating situation and the Square only made things worse. Before this whole situation the Square was ok. The card ready didn’t work all the time and it charges more when you have to manually enter in the card information. All in all I will not be using the Square any longer and I have left my review for all those who are considering this nightmare of a company.