“Square Credit Card for Small Businesses”

In order to help evaluate this POS system, we checked customer satisfaction ratings from a few different websites. One is called Finances Online, which evaluates financial solutions. According to the website, it draws these ratings from “reviews, comments, and opinions across a wide range of social media sites.” Finances Online gave Square a user satisfaction rating of 97 percent and a score of 9.0 for its capabilities as a POS platform.
While Dharma Merchant Services does the bulk of its work in the retail and commercial sector, it has a strong niche in nonprofit transactions — which are booming especially via online donations. Dharma, a B Corporation with subscriptions for $15 a month, offers reduced nonprofit rates. Like Payment Depot, Dharma doesn’t offer one lump rate for all transactions, so your ultimate costs would depend on each credit card’s interchange rate, which can vary upward of 2 percentage points depending on the card. For nonprofits, Dharma charges 0.20 percent + 10 cents + interchange for storefront operations; online it’s 0.30 percent + 15 cents + interchange. PayPal, by contrast, has a flat nonprofit fee of 2.2 percent + 30 cents that’s constant despite interchange fees.
Then secondly it seems to me that it is a business standard for square to hold up monies for 30 days. If you have 3 million in a holding escrow, and the daily a.p.r. is .0031 within 30 days you shall have roughly 239k. It only seems that the held monies when released should come with interest also?
I would strongly advise against using a Square!!!!! Our business had an account set up, and successfully used it 2 times, then the third time was a $5208.00 sale and funds were never deposited into our business account. My husband made several attempts and spent many hours trying to get someone to help with this, but he was told through email only that a live person was not an option!!!! We are not tech savy people and would have never entered into this agreement knowing there was no way to receive help with such an important issue. We are currently seeking the help of an attorney to straighten this out.
I have been working with Square for 4 years, i have a salon as i read these reviews very confused i have never had a issue, always been able to get some one on the phone when call and i have grown every year! Love this company! I think they do a great job
I’m having problems with the stand not recognizing the iPad. I have to keep taking it in and out and finally, it will connect. I want to know if this is under warranty. Also, our business uses my personal iPad and I take it home every night. So, it is being replaced each day. Can the USB connection get worn out. We only started using it October 1st.
I’m not going to tell you that there is any provider who can make you immune to having funds held in reserve, or even to suspension and terminations, but you greatly improve your chances of a having a long-term, stable account when you open a traditional merchant account.
poor commutation, on hold for hours, no people skills , actually one of the Square service people hung up on me during a recorded conversation on there end, his final words where , there will no longer be any telephone dialog ,everything will be thru email , and I was just trying to get answer about my 57,000 plus dollars they where holding for over 30 days, I will say it was a experience dealing with them and I learnt a lot , which help interviewing new credit card companies , which have better rates , we do about $40,000 – $50,000 a month in cards. We have a saying here if you don’t take care of your customer someone else will
It truly would be a game-changer if any Joe Schmo could accept credit cards for virtually anything they wanted to sell, but I don’t think we’re quite there yet. I sense that the person accepting payments through Square must be associated with a business entity.
Transaction fees come in a few types: a flat percentage of the swipe (say 3 percent), a flat percentage plus a fixed fee (say 3 percent + 10 cents), or a fixed fee plus the interchange rate (something like 10 cents + interchange).
There was a Wall Street Journal article that disclosed large losses at Square, a defensive, ill-conceived blog post from Square rebutting 10 myths about the company, and Dorsey’s decision in the midst of the subsequent backlash to jet to his hometown to participate in the Ferguson protests. All the while, rumors were running rampant that Square would be forced to sell.
This is highly alarming to me, that Square has my purchase information including my electronic signature, my name, my credit card number, and the amount and name of the vendor (which I had never bought from before).
My business is seasonal. I used Square to process credit cards in the field. I worked seven days a week in a remote area. All the proceeds were to be deposited in a separate bank account. When I returned at the end of the season, I went to the bank. Only about 1/4 of the transactions were deposited. I have called Square/ emailed Square several times. No one from Square has even tried to solve the problem or acknowledge that I exist. It’s like the money evaporated. I guess the next step is to initiate an investigation of fraud. I will not use Square again and recommend to anyone to find an alternate credit card processor.
Do you process mobile credit card payments for some or all of your business needs? If so, who do you use, and how has that decision helps your business grow? Please share your thoughts insights in the comments below.
I got a call back from someone there today, in fact. They promptly sent me an email with a link to an application to raise my limits and release my held funds and they claim it should be addressed within 1-2 business days so let’s see! Funny though, I asked the name of the person and (she hesitated and) the name was different on the email than the one she gave over the phone. Not a big deal I suppose, just funny disconnect.
Just a few short blocks from Centurylink Field, an excellent place to have some beers and great food on your way to the game! Was able to have two Budlight tall cans, fish and fries, and a cheeseburger and fries for  $20! The workers or owners were very friendly and easy going. We plan to go back everytime we get to go to the game! Go Hawks!
At least I am not alone in my complaints against Square, Inc. Like many others here, I have had my own run-in with Square, Inc. using their Square credit card processing device. I signed up for Square and received the card reader in the mail within a few days. After installing the app on my phone, I tested the system by processing a few transactions over a couple of weeks time frame. These low dollar amount transactions went through without a hitch. Thus, I cancelled my Authorize.net account which we were paying on average, around $500 a month in fees and charges. And for the next few months had no issues using SquareUp.
This company is a joke just like all the other ones. They all follow the same protocol. They will freeze your money with no explanation, close your account with no explanation, request personal information, then shut down your account afterwards, they all read the same script for liability issues. It’s like talking to a robot. They just repeat everything off 1 piece of paper to prevent any lawsuits he said vs she said scenarios. They think outside the box, putting themselves in our shoes, because that would just make too much sense.
I agree, Squares *lazy approach making this clear, however as a merchant for many years, I lean towards swipe only as key in method is always a risk and the easiest for your client to charge back unless you have enough sense to imprint the card.
This company is a s*** company so I advise all the business people’s do not use this company ever they are very bad they don’t treat you fairly they hold your money and us terms of papers abuse your business abuse you and you won’t believe it what they do to you once you do any transaction through them so do not use them ever
Square company is a piece of shit company.After holding my monies for 3 months and not giving me an explanation they deactivated my account. Tried getting an answer …never got a response. My business never had a complain nor a bag review for using this service. Be very aware of the way they do business
I don’t know how it is don’t there, but here we split the meter and gas. I take there money out of my half and give it to them, square puts the money from the charge in my account. the cab company has nothing to do with my card charge, that is on me. I just make sure all the money they are due, gets to them when the money is turned in. Here we are all independent cab drivers. I hope this answer your question.
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I used square when it first came out and recently bought a chip card reader and Stand. This weekend I used it for an art show I was in. I panicked when I first open the box but then realized it was so easy to set up. I even set up categories in just a few minutes. The Dave name and square was put to the test. It was so easy to use And SO reliable. I love the stand because my iPad fit right into it; I use the little screw and wrench that they provided in the tool kit and it was held and secured all day. The magnetic strip reader and chip card reader are Bluetooth enabled and all the equipment Held a charge for the entire day which shocked me. I had such a great experience with square point of sale system! I can’t wait to use it again!
They, of course, have the paid survey points that you earn when you are eligible for completing a survey that matches your demographic criteria, but they also have sweepstakes every once and a while with which you can win up to $100,000 just for joining the survey panel.
I’ll hand over all my fully compliant licenses, general liability, insurance umbrella, Colorado state certificate of good standing with the Colorado secretary of states office including no complaints ever filed against myself or my company that began in California in 8/2005.
Okay i watch the new commercial for Square.. I use Square Register on my ipad, use Square Market for online sales (https://squareup.com/market/eriecanalboatcompany-inc), will most likely use the employee app when available. Several points… most negative comments don’t give much info on the business or the types of transactions. Square has marketed to small Mom and Pops, with face to face transactions, from a stationary location, and with relatively low dollar values per transaction. I’ve never had a problem, business fitting the above criteria I’v recommended Square to haven’t had any problems, So Why Is It So Difficult to Understand. New Businesses without a stationary location, making transactions without the customer present or over the phone without any tracking method… with hundreds or thousands of dollars of transaction , whom probably don’t use Square Market for online sales. Sounds shady to me.. These days you can’t be too careful, cardholders need to get statements , review and accept or question any transaction that are questionable.. at least 60 days so holding 90 or more day …. Read your terms and conditions first , most people with problems, I suspect haven’t until things start going wrong.
We used square for the first time today for a rather large deposit. I received the verification email and sent all requested documents, but now I’m wondering if I should just issue a refund and be done with it. I’ve read that it can take 60 days for the refund to reach the customer. How can I do it immediately like you did?
I will not be surprised when this company goes out of business. They seem to be on a fast train heading for the mountain. There are too many other credit card processors available for anybody to tolerate such disgusting service.
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.
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