“Square Credit Card Processing Review Summary”
Not only are they holding $6,113.00 from me…..But State Sales Tax on LEGALLY sold goods in the Commonwealth of Ma. I think “their” legal team of “DEWEY, CHEATUM, and HOWE” , missed this little tidbit. My fiscal quarter ended 10/21/14. Sent my “Letter of Demand” in on 10/14/14. Was received by them on the 16th. We’ll see what they say. In the Commonwealth of Ma……If no response is received…….then “their” contract or “USER” agreement is, IN FACT…..null and void! Read the news people! The company is IN TROUBLE! With wide losses and a new round of $150 Million in funding from overseas investors. ALSO……this BIG pool of money being held from ALL of us being “duped” by Square, is supposedly held in an account. NOW……Is this LARGE pool of CASH, (OUR CASH), being used by SQUARE as leverage, to show a better cash position to investors than the company actually has??? My guess is it’s in the 10’s of millions…..judging by the complaints and amounts of money I think they are holding. Of course……That would be a SERIOUS violation of SEC rules. Anyone know what the daily interest rate is, on say…..$10 million dollars in cash!?? OH…..and by the way…….If the card transactions I made are considered “high risk” or fraudulent…..Then why did SQUARE extract their own fees….like IMMEDIATELY? Think about how Jack Dorsey portrays himself in interviews. This seemingly soft spoken…..meek…..6′ 4” gentle giant. Wolf in sheep’s clothing I say! We need to act fast here, as this has been going on for years. Only now, MORE AND MORE business owners are being taken by these devious tactics of this company! It seems to be a pattern. Most of what I see are the transactions between $1,000 and $10,000 are most at risk. I just cannot believe that “class action” hasn’t been filed yet? Think about the “trickle” effect of these funds being held for NO good reason…….Small businesses file bankruptcy…..THEIR employees are now out of work. Larger suppliers of these companies cannot get their funds…..so they take a loss. In my case…….which I was able to cover the funds being held, (but some businesses just cannot and NEVER recover), 4 other people would have lost their jobs! I provide a MUCH needed, and “highly specialized”, service to Western Massachusetts. If my business didn’t survive this “theft”, there would be literally hundreds of customers without use of their heating appliances this winter! Anyone who wants to go “CLASS ACTION”…. Contact me at TMS PELLET STOVE SERVICES….90 East Housatonic St. Dalton Ma. 01226 1-413-684-4590………..PS HEY SQUARE TEAM……..You can also call me, and actually see that “I” am a LEGALLY RECOGNIZED BUSINESS IN THE COMMONWEALTH OF MASSACHUSETTS. :-)>
NY Times: “So let’s say someone from Craigslist comes over to buy your old junk. You snap the Square reader into your phone or tablet. You tap in the amount of the purchase; it could be $1 for a yo-yo, $25 for a box of old records or $12,000 for a used car (there’s no maximum amount). You type a description if you like, and maybe even take a photo of what you’re selling.”
Just started using square this week. I love it. My credit card processing was about to put me out of business since I am such a small business I was incurring fees for not meeting minimum’s. Plus the cost of the machines was crazy. I love that I can take this app on my phone to farmer’s markets etc.
But there is a giant caveat to Square Cash that the company is going to have to deal with in its communications to the public if it wants the service to take off: There is no limit to your liability for fraud from the use of Square Cash. So what happens if someone hacks into your email account? Sending cash with Square is as easy as emailing someone with a dollar amount in the subject line and CC-ing “firstname.lastname@example.org”. Square replies to the email and sets the transaction in motion, transferring from one debit card to another, directly.
I totally agree. We were setting up our square account and my wife was trying to learn how to process payments…we had a couple of gift cards laying around with small balances (Under $9) and I did one to show her how it works, then she tried one and it was declined, we thought we were doing something wrong, so we kept trying different ways, keying it in manually, using a pin….always declined. As a result, Square deactivated our account, with no explanation, said it was final. I reached out to customer service and got a boilerplate response ” we already told you that you’ve been deactivated” a non answer, referring to terms of service, I can’t cour a hundred pages to find what their concern was so I asked them to explain….no They stink.
Square has a long list of add-ons and integrations in its app marketplace. They include accounting tools, ecommerce, invoicing, POS systems, inventory, and a lot more. This is great because it means if you don’t want to use Square’s tools, you don’t have to.
Square is only good for small businesses. Their fee is too large for larger businesses. I’m a small business with mostly cash transactions but the few times a customer has a credit card its great to say yes we accept them.
That’s what happened to me on Stripe. They told me it is the “new industry standard” to just close your account with lies and hold funds for 90 days. Something fishy is going on with the Globalists pushing their agenda. I have $12 and change tied up, not a grand like you, and I’m pissed! Oh the lie for closing my account is that I have a significant amount of charge backs and disputes on my account and also my shop is high risk – the reality is I have one normal sale, zero charge backs, zero disputes, items shipped and delivered with positive feedback, and have two items in my shop for $12.99 each.
Not a happy client and will not recommend them to anyone I come across in the future… In fact I’m going to have my friends and family who use them switch to a different mechant system.. Because of the lack of communication from them..
A beautiful space. Most all of the offerings seem to be expensive, no? I recognize that the high cost of living here requires that employees make a decent wage. Still, as I struggle with the cost of living, empathy for staff does not make me any more able to afford a $12-13 lunch or $7 coffee+snack.
SQ works like a gasoline station or a restaurant…If you charge somebody $50 and they leave you a $60 tip… All thats authorized to card is $50 TEMPORARY charge.. Which actually allows for the final charge to be different to allow for tipping or like a gas station where it pings your card credit card for a dollar and then when the transaction post it post for the actual amount
Also driving their growth is money, lots of it. Square charges a significant premium over other CC processing options available to SMBs. 3.5% + $0.15 on manually entered transactions is madness if you’re doing any sort of meaningful volume of business. You will end up paying Square $1,000’s a year in transaction fees. Though, the ease of use and simplicity of their solution often justifies the premium.
Bottom line: For starters, we’re out $10 for Square’s initial purchase. And five days after our event, we have outstanding transactions that we are unable to key in. We must either switch bank accounts on Square’s site- and god only knows how well THAT would go- or purchase another card reader altogether. Our board opted to throw Square in the trash where it belongs & purchase a different brand of reader. We’ll still get charged more for card-not-present transactions, but at least we’ll have a responsive company.
Upon a fraudulent claim form a client, Square cleaned out my bank account..There is nobody who you can speak with at Square, and pretty much no recourse for this blatant theft. With this theft of my money, All my money, I will need to close my accounts, change my business model to be cash only and spend anything I have left to prosecute lawsuits on these horrible clients and on Square for putting my business to a halt with lies.
Communication is really poor. Phone number does not work and all answers they give you if any are canned from their website. So don’t waste your time. If you can swipe a card go for it otherwise don’t.
F- Joined Square in Decembar 2017 company bank account was verified by Square in December, received my Square strip reader in early January. Processed my first transaction on January 24th by entering the card info into the computer payment accepted, everything seemed fine but amount never transferred into company bank account. Waited a week as clients money needed to pay for products they ordered. Payment never received contacted Square and they replied account deactivated. As such could not call(deactivated) to find out why as this was my first transaction. Square Email response was after through review deactivation stands(still no reason why?). Was able to get refund back to very unhappy client who wanted to know why and I still don’t know why. Dealing with Square is very Kafkaesque when most you need to talk to them there is no response only you are deactivated.. Funny thing my other store uses Square and have had no problems, but I would stay away. Something is wrong with their business model.
So, I emailed back asking why, and he said he will check into it, but never heard back from him again. I looked at my sales history and it says the money will be deposit in 30 days. Yes, $1500 is not much, but the idea that they hold your extra money after they promise you an increase is not correct.
Terrible the worst. Do not use they will keep every dollar you charge to them. I cannot believe this is legal for them to do this. No phone number and High fees They will change rate and not tell you. Then hold all your funds for 30 days or more. With out a reason..DO NOT USE!!!!!!! I HAVE FILED A COMPLAINT WITH THE MANY OTHERS WITH THE BBB.