“Square Cc Processing for Restaurants”
I have used Square for over 1 year now and have only had 1 issue, which was my doing. It was resolved quickly and have not had any more issues. I like that there is new competition in the market place, everyone should like that. If you don’t like square go somewhere else, but don’t blame square for your ignorance.
Square, Inc., based in San Francisco, has exhibited amazing growth since its inauguration in 2009. Square is a merchant services aggregator and mobile payment and financial service business that began its journey by marketing to small home-based businesses and mom-and-pop stores. Since 2012, Square has moved into several new ventures that make its services viable for larger businesses. Their swiper, the Square Reader, can turn an iPad into a sleek cash register, and it also is very mobile for those entrepreneurs who want to use it with their mobile phones for POS transactions.
For Internet businesses, PayPal is an important payment option to provide because it is trusted and used by many consumers. It’s just one of those things – if you are an on-line store, you accept PayPal because it’s easy. But every Internet merchant that also has a good Interchange based merchant account knows that when a customer pays with PayPal, they lose money compared with when the customer pays with a credit card.
Square has no startup or monthly fees and supports both physical card swipes and keyed-in payments via its powerful mobile point-of-sale (POS) app. You get free mobile magstripe reader for swiping cards upon sign-up, but you must purchase a reader for processing EMV chip cards and contactless eWallet payments.
If you do not want to wait 90 days to receive these funds, you may consider refunding the payments back to the original cards and seek an alternate form of payment. To learn more about processing a refund, please see: How to refund a payment. Thank you for understanding. Square Account Services.
Add-ons can get costly: If you find the dashboard inadequate, Square offers a host of add-on services, but they come at a price. Most services are billed monthly, but include things like employee management, E-commerce, and booking/scheduling.
I am currently going through a hassle with Square myself. I am an attorney that has a nation-wide practice. I rarely accept credit cards — usually just checks. However, I have had several clients that asked to be able to pay with credit cards. And, like most people, do not want to tell my clients, “No, you can’t pay me.”To be flexible, I set-up a Square account and used their service. The particular client that I was working for had me handling 6 cases for his insurance company, and two of them were due payments on the accounts. So, I ran the 2 charges through — totaling about 3k. I have a ZBA (Zero Balance Account) for my business, which means that the account itself always has a zero balance, and there’s another account linked to that account. I authorize the payments, and when they come through, the money is transferred from the linked account to the ZBA account. It protects me from fraud, etc. (Great idea for any business owner, just so you know — and I won’t charge you for that advice 🙂 )Because of that, Square would not be able to link my Business Checking account with Square, so I opened up an account specifically for them. They did their transfer of .49 cents, and the account was linked. Despite having close to 3k waiting to be deposited, it took Square an ADDITIONAL 3 days, after all of the transfers were done, to “approve” my bank account.Square’s cut off for depositing funds is 8:00 pm EST. On Friday, at 8:32 pm EST, I was sent an e-mail saying that my account had been approved and that my deposits would start on their normal schedule. After looking at the deposit schedule, it appeared that it would be deposited Sunday night and be available on Monday morning — no problem.So, the rest of Friday passes — knowing that the 3k was pending deposit — Saturday, Sunday (when the deposit was supposed to be made) … Sunday at 8:01 pm EST, I receive a notice saying that I must provide them with documentation supporting the existence of my business. I am a licensed attorney in 6 States, and over 41 jurisdictions … I have a VERY real business, and it’s not hard to discovery that.At any rate, they asked for all of the documents that everyone else with complaints have been asking for. I sent it all to them, and still waiting to receive my money. AFTER the fact, I researched the company (in my defense, I had a friend that used Square back in 2011-2013 and never had a single problem with them, including processing a few transactions for me). I found all of these complaints and my first thought was “Screw them, I’m suing.” I don’t need to hire and attorney or seek legal advice. I had lunch with the Attorney General of my State less than a month ago. I worked for the United States Department of Justice as a prosecutor for almost 9 years. I know EXACTLY how to file Class Actions suits, get the Attorney General to write letters, etc.Then I fully read the Seller Agreement …First, you cannot sue Square. When you set up the account, you agreed to Arbitration. Arbitration is much faster than a lawsuit, and costs much less … However, the way it is worded in the Seller Agreement essentially confirms that they would make you fly out to San Francisco to have a hearing. Not really worth it for a few thousand dollars — hotel, rental car, food, etc. would cost more. They even generously agree to pay for the Arbitration Fees (typically less than $1000.00).Second, you cannot even join a Class Action lawsuit — should some trailblazing attorney even attempt one (very few would, because of the Arbitration Agreement and all of the litigation involved to get around that) … But, by using their service, you specifically agree to *NOT* be a member of a Class Action Suit. Specifically, Paragraph 51 contains the following language:”ANY ARBITRATION UNDER THIS AGREEMENT WILL BE ONLY BE ON A INDIVIDUAL BASIS; CLASS ARBITRATIONS, CLASS ACTIONS, PRIVATE ATTORNEY GENERAL ACTIONS, AND CONSOLIDATION WITH OTHER ARBITRATIONS ARE NOT PERMITTED, AND YOU ARE WAIVING YOUR RIGHTS TO HAVE YOUR CASE DECIDED BY A JURY AND TO PARTICIPATE IN A CLASS ACTION AGAINST SQUARE. “Finally, you’ll also notice that you agree to *NOT* participate in a Private Attorney General Action — which is where you contact the Attorney General, and they institute a suit to right whatever wrong Square decided to commit that day.So, my first though was “How to get around” all of that language. I thought of 2 options: First, I could, on my clients behalf, sue Square in their name (and just represent them in the suit) for not processing the payment as they requested, i.e. the money was taken off their credit card, they are now (typically) being charged interest on that money, and must make credit card payments. The way I thought about doing that was simply refusing to continue to do work on THOSE cases, until I was actually provided my money.There’s a lot of legal maneuvering involved, but nothing I haven’t got around before. However, the Seller Agreement essentially stops that: Paragraph 46 provides that you will indemnify Square, which means that you will support them in any lawsuit against them for, “any transaction submitted by you through the Services (including without limitation the accuracy of any Seller Content or product, service, or transaction information that you provide or any claim or dispute arising out of products or services offered or sold by you).” So, that option wouldn’t work.Then, I thought, well, I could sue my client for not receiving the payment, and then have the Client interplead Square(a civil maneuver that allows a defendant or plaintiff to bring a third-party into a suit, when the suit cannot be properly decided without having them present). I would essentially still be able to sue them, because *I* am not the one who brought them into the suit, my client would have. And while there would still be some issues with the Indemnity clause, I wouldn’t worry so much about that … because, again, *I* am not suing them, I am suing my client. And they are not being sued over a transaction that *I* processed, rather I am suing a client, and the client is upset that THEIR money was never released to me, per the agreement with THEIR credit card company.Then I found another nasty little clause: “You agree that our receipt of transaction proceeds satisfies the Buyer’s obligations to you.” This can be found in paragraph 8. So, even if I were to sue my client, and they interpleaded Square, both Square and the client (whom I really do not wish to sue) would get the suit dismissed (Square would file the Motion to Dismiss on their behalf).In short, the only possible way to be able to get at Square is if some Attorney General instituted a suit against them for some type of fraud. The interesting part about that, however, is that Square is not violating ANY laws — yet. The Sellers Agreement specifically states that they can hold your money: “At any time and from time to time, we may temporarily suspend or delay payments to you and/or designate an amount of funds that you must maintain in your Square Account or in a separate reserve account (a “Reserve”) to secure the performance of your payment obligations under this Agreement. We may require a Reserve for any reason.”The problem with screaming fraud, and getting someone in power to listen to ANYONE (even me, who worked with and for a lot of these guys for YEARS), is that you AGREE to this. And Reserve’s are not outside of normal business practice. A customer and challenge a charge to a credit card for up to 180 days. So, most merchant services either, a) are credit based, and waive the reserve because of credit worthiness; or b) require 10% or more of whatever you charge to be placed in reserve … It unfortunately is not fraud.It sucks. Square SUCKS. And from someone that knows the *FULL* ramifications of liable actions, will say that they are EXTREMELY unethically and have VERY bad business practices from their clients point of view. I tried to call 3 times today, nothing. Put in for a Call Back, nothing.Maybe I’ll get my money, maybe I won’t. But, I c
an assure you, after reading the Seller Agreement — which I should have done to start with (but, again, didn’t foresee any issues, and knew I wouldn’t be using it too much) — my account will be promptly cancelled. Horrible company. Luckily, 3k is not that big of a deal to me, but for a WHOLE lot of America, it is. ESPECIALLY small businesses. And it sucks that they have gotten away with so much. But, my STRONG suggestion would be to continue posting complaints, continue filing with the Better Business Bureau. File Complaints with the Federal Trade Commission, specifically, based upon False or Misleading Advertising. In their Support section, Square states, “With Square, you can choose when to receive your funds through one of our three deposit options. Square doesn’t have deposit limits with our standard or custom schedules. We won’t hold funds based on the amount, frequency, or type of transaction.” See https://squareup.com/help/us/en/article/3807-what-are-square-s-deposit-schedule-optionsThe statement “We won’t hold funds …” is actually untrue. Because if you first open an account and run a large amount of money (I don’t know what it is, but say $500 or more), they do hold … because they want you to send them reams of paperwork to “verify” your business. That’s False or Misleading.I’m filing a complaint with the FTC, and FULLY encourage everyone else to, as well. It may not SEEM like much at first, but the FTC will sue them QUICKLY. “When the FTC finds a case of fraud perpetrated on consumers, the agency files actions in federal district court for immediate and permanent orders to stop scams; prevent fraudsters from perpetrating scams in the future; freeze their assets; and get compensation for victims.” See https://www.ftc.gov/news-events/media-resources/truth-advertisingImagine how they’d feel if THEIR assets were frozen.Something to think about.
Square is one of the most popular brands for iPhone credit card processing. It charges no monthly or annual fees and has one flat-rate processing cost for all swiped transactions. This processor also has a quick, simple application process.
It reminds me of the old adage, “if you can’t stand the heat, get out of the kitchen” Square offers them selves as a great innovator in our quest for a paperless e-commerce world. In reality, they are nothing more than a middle man making up their own rules. Who wouldn’t like to be in the business of getting paid to hold someone’s money for 30 days or more. Pay the extra 0.5% to a traditional card processor and at the least, you’ll get your money instantly. Good riddance Square
I’ve been using Square the past year for our farm. I don’t think we’ve ever had an individual payment over $100, and most are less than $30. We sell a lot at farmer’s markets and out of our greenhouse. Never had a problem, so far–knock on wood–and deposits are quick and without issue. I have to say that Square works well for our small transactions that are simply too few to warrant spending the $ each month for a regular credit card account. Frankly, I am surprised that folks would use it for large transactions, and not surprised that there are problems associated with those.
Worst mistake I ever made by purchasing this card reader. I will make sure to post my complaints everywhere that people can see. Beware this thing is a scam! I purchased this product for my small business to help make things a little easier. After the first transaction, they flagged my account, deactivated it, and took the money without it ever going into my account. You cannot even contact customer service since it keeps telling you to input a customer code that never seems to work and you cant speak to anyone unless you have one. They got me for 8k. I will make sure that my complaint is heard. I hope this company is put out of business soon so no other innocent people get scammed out of money. Beware of square!!!!
Great analysis Everette. I love the idea of analyzing the growth of other companies as it’s a great way to draw inspiration and ideas. In marketing, we’ve always looked at the legends like Ogilvy for inspiration on how they communicated with audiences but the rules have changed. We’re now living in a world that requires a different kind of thinking and that’s exactly what you have here with the folks at Square.
Square lacks transparency and has no zero access for customer service. when you sign up for an account, it is near impossible to find information on charges and fees. They advertise 2.75% fee for transactions but actually charge 3.50% plus $.15 for manual entry – something they don’t represent when you sign up. In addition, the only support they have is through twitter, which is a completely inadequate amount of access to handle problems. I don’t have a twitter account so I have zero voice to resolve an issue with them. I would not recommend Square because of their questionable transparency and complete lack of customer service.
I accidently charged a customer $3339.77 while I was swipping the card my pinky finger hit the 7 on my iphone. The charge was supposed to be $33.39. I immeditley cancelled the charge. The card was AMEX and they reported within 5 minutes that the charge had been placed against the card and then removed and then recharged again. I reported it to square on the 19th of December. The $3339.77 was deposited to my account on the 20th. On the 23rd The funds were removed from my account . My customer says he has not got a refund to his account yet (Jan.5,2012)
Hi Tom Question. We have 3 separate business locations and will start using the square stand/register on 3 different IPads soon. The payments will be going to one bank account. Will we be able set up 3 different locations and process payments without any Thanks
The Square Reader keeps payment information safe by encrypting it as soon as it’s received. Whether the card is EMV chip, magstripe or contactless, Square follows the appropriate protocols to ensure the data stays secure. We monitor your money until it’s deposited into your bank account.
We now attempted to talk to someone and searched for a phone number. This was difficult to find, but we finally came up with 415 375-3176 which provided only voice mail suggesting a website for canned answers and email contact promising a response in 24 hours. Well, the email responce took 26 hours simply stating our account cancellation was not reversible. Also, “If you do not want to wait, you may refund back to the original cards.”
Problem is Roger they are all the same and I mean all. I have had 3 different services in 15 years and they all go bad at some point, some after years of decent service. Up till now I haven’t had a problem with square. I had a customer make a mistaked charge back, with in hours he reversed the chargeback and had his credit card service contact square thet still took out the money Square said it would take 10 days for the funds to be deposited back into my account. OK fine but after 15 days I asked when I should expect the funds, I was told in 3-5 days more. That was almost a month ago. I received the :Good News: email stating that all was good but no money still and no answer, They stopped answering my emails. So now what do I do ?
In the press release, Square Hardware Lead Jesse Dorogusker says that Apple is involved with this partnership. “Anything we can do to make a seller’s experience faster and safer, including working with Apple to encourage Apple Pay usage, is an investment worth making,” Dorogusker said.
I am a small vendor who does about six antique and garden show a year. Square has been a Godsend to taking cards in the field. I was very satisfied until two transactions from my last show have yet to be credited to my bank account.. It has been 9 days and I am out over 800.00. Customer help from Square has been very slow and finding a phone number is next to impossible. I am waiting for another email back from them. They say they are investigating. I have verified email from them saying charge was accepted and authorized-but still no payment.
SCAM AND MORE SCAM. I signed up for free card swipe for android. Well after entering my pertinent business account information, someone attempted to wire $2600.00 from my business account to a Western Union account in another country. Luckily my bank flagged it as suspicious activity. My Square equipment never arrived despite them giving a tracking number. Called customer service _ No answer and also emailed customer service_ No reply.
Square Cash (see review) is a direct peer-to-peer cash transfer service that is linked to a user’s debit card. Square Cash sends payments via email and smartphone and allows for free transfers of funds between users. The service is not targeted at business owners, but they may use it to make payments outside of a business setting.
PayPal Here puts the money in PayPal right now. I have a PayPal Merchant debit card, and the instant I charge someone, I can use the money right there on the Card. I do this all the time with my mowing business where a neat interface isn’t needed, but money on the card to get gas is.