“Square Credit Card Reader Reviews 2018”
In a case like this, you would get charged $0.0275 if you were only charging $1.00 transactions. If you ran a $100 trans you would be charged $2.75 if swiped. If the savings is passed on to the merchant which it is not you would get charged less than $0.23 for the same $100 trans. Since you are on a fixed rate with square, the debit interchange fee of .05%+$0.21 applies only to visa not to square. So square does not pass the savings on to the merchant. And if I am wrong I challenge anyone to show me a statement that shows me otherwise.
Square Register: The free Square Register software is required to use the Square Reader. It replaces the traditional cash register, and you can send invoices straight from the mobile device without payment on the front end.
“Square directory gives people the power to instantly find whatever they are craving, from a BLT to a bicycle,” said Square’s Director of Directory, Ajit Varma. “Everyday the directory grows with diverse businesses and allows them to display item-level information to new customers.”
VERY Poor company! For absolutely no reason they “Deactivated” my account! And there is nobody to talk to, no customer service to call..they don’t have ANY phone number on their website then I Googled their # and got a recording that says you need to go back to the website to ask for a “CODE” to talk to someone ( who puts their “Customers” through this crap?!?) so I do this, and the website says “Your account isn’t “eligible” for a code”! I’m like “REALLY?!?!?”
If there is no activity in your Square Account (including access or payment transactions) for at least two years, consecutively, and you have a Balance, we will notify you by sending an email to the email address associated with your Square Account and give you the option of keeping your Square Account open and maintaining the Balance, withdrawing the Balance, or requesting a check. If you do not respond to our notice within thirty days, we will automatically close your Square Account and escheat your funds in accordance with applicable law, and if permitted, to Square.
Speaking of profits, Square has produced positive adjusted earnings interest, taxes, depreciation and amortization (Ebitda) — the profitability metric many investors care most about for a fast-growing company — for three straight quarters. And the company is forecasting $100 million more in 2017.
I Don’t make much money at my business so far, but what little I make square takes it !!!! On 8/16/13 square kept 115.43 (which is in my history account) they said they sent but they never did!!! Today I found out they are only sending me the money I collected Saturday But they kept the money I collected Friday!!! THIS is CHUMP Change compared to the other comments!!!!THEY ARE DETROYING a potentially great business ( SQUARE) OVER CHUMP CHANGE?????
Krista Fabregas is a staff writer at Fit Small Business and editor of the Ecommerce Section. Krista launched her first ecommerce site in 2001, and soon grew to operate two niche B2B and B2C sites, a 10K square foot warehouse, and staff of nine. Combined, her sites sold more than $1.5M annually for several years. Krista now shares her hand-on experience with others looking to expand into online sales. When not helping small business owners launch and grow efficient ecommerce operations, Krista enjoys writing fiction and nonfiction, and riding horses and motorcycles in her hometown of Houston.
“To ensure the financial security of both you and your customers, we would like to verify some additional information about your account. Until we have verified this information, deposits to your bank account will be deferred. During this period, you will still be able to accept payments.”
In my experience, your best bet in mobile processing to decrease the likelihood of holds is to use Flint Mobile. They don’t have all the features that Square offers, but they are more reliable. I can also tell you that Square has improved its system lately so I’m seeing fewer instances of funding holds, but it’s always a possibility. So if you don’t need all of the features offered by Square, I’d say go with Flint instead. You may also consider Spark Pay or PayPal Here.