Using "Square" for Credit Processing

[Pat G]

I know this has been brought up in a few other threads, but hasn't been discussed in-depth so I thought I'd start a thread for it here.

I just signed up tonight and am waiting for my card reader to arrive before I start using it. Those of you who are already Square users, what can you tell me about the service? Easy to use? Money is deposited quickly? Good customer service? etc... I'd love to hear what y'all have to say!

 

[PokerFace.]

Using "Square" for Credit Processing

I just processed my first transaction with it this evening, so I can't answer the question for how long it takes for the money to hit my account, but they say that is largely determined by your bank - how fast do they process electronic transfers? I can say it is EASY to use! The only thing I didn't get right on the first try was that you have to open the app *before* plugging in the square. Otherwise it is about a 30 second process. And the client was very impressed - he wants one of those!

 

[Catie]

Using "Square" for Credit Processing

I have been a happy user for about 3 months now. It take about 3 days for the money to show up in my account. They only annoying thing I have come across is sometimes the app dosen't keep me logged in.

Square doesn't take flex spending and will only processes $1000 a week and the balance stay on hold for 30 days

 

[feedphillipnow]

Using "Square" for Credit Processing

... and the balance stay on hold for 30 days

Can you clarify what this means? I am not getting it.

 

[Kaitlin]

Using "Square" for Credit Processing

... and the balance stay on hold for 30 days

Can you clarify what this means? I am not getting it.

Square only allows you to processe $1000 per week when you first sign up, so let say you process $1500 in cc sales one week. The $1000 will be in you account in about 3 days and the $500 balance will have a 30 day hold.

 

[brandon m]

Using "Square" for Credit Processing

If you charge over $1000 in a week, they will hold that money in your square account for 30 days. (it won't be transferred to your bank for 30 days).

It is SUPER easy to use, and I love it. One thing: if you have it enabled to accept tips, the pending withdrawal on your client's bank account will be for 40% over what you charged them. Once the actual withdrawal goes through, it will be for the charged amount... but I have had some clients freak out when they saw the pending amount for way over. If you don't have tips enabled, this doesn't happen.

Customer service is almost non-existent, in my experience. But I still love using it. The only issue I needed customer service for was clarification on the tips/pending withdrawal issue... and in their defense, it is listed on their FAQ on their site.

Overall, I think it's great and I highly recommend using it!

 

[BiGstylin]

Using "Square" for Credit Processing

I have had some clients freak out when they saw the pending amount for way over.

t006 :
It really is ridiculous that they hold 40%. Who ever tips THAT much?? Even for just a $60 massage, that would be an extra $24 they are tacking on! And for a continuing ed class *ahem* it could be an extra several hundred dollars :shocked: t002

Other than that, it does seem like a great service, and when/if i decide to go back to accepting credit cards, I will most likely go with it.

 

[ets_bond_trader]

Using "Square" for Credit Processing

If you charge over $1000 in a week, they will hold that money in your square account for 30 days. (it won't be transferred to your bank for 30 days).

Square only allows you to processe $1000 per week when you first sign up, so let say you process $1500 in cc sales one week. The $1000 will be in you account in about 3 days and the $500 balance will have a 30 day hold.

Thanks.

And, thanks for the info about accepting tips or not.

I have a friend who first told me about it and loves it. I don't use a smart phone... mines a little dumb *winks*, so although it is not for me... I do like the idea. Possibly I will branch out in the future.

 

[cupcake]

Using "Square" for Credit Processing

It really is ridiculous that they hold 40%. Who ever tips THAT much?? Even for just a $60 massage, that would be an extra $24 they are tacking on!

It's actually a pretty standard practice with credit card processing; maybe not 40%, but definitely AT LEAST 20%. Since the approval doesn't include the gratuity, they have to hold a % over to make sure funds exist for whatever gratuity is given. Typically the "hold" is cleared as soon as the tip is entered and the transaction processed.

I know it's not common, but I have been tipped more than 40% before - it does happen.

 

[I demand a recount]

Using "Square" for Credit Processing

I love Square. It's super easy, cheap and simple! My clients get a kick out of signing with their fingertips! It's been a huge hit and I didn't have to order any extra equipment!

 

[CannedUs]

Using "Square" for Credit Processing

I'm loving Square, too

No issues so far- when I lost my reader, I emailed customer service to get a new one. I got a response a few days later, and the new (free) reader in the mail a few days after that

i really love that they take their fees out immediately- no big withdrawals on my bank account in the middle of the month

With the issue of them holding 40% because of the tip feature, I just explain to my customers right away that if they check their acct the pending may seem higher "Just like if you charged something at a restaurant" - but that the amount actually withdrawn will be correct. They seem to 'get it' then

You can go back and forth and turn off the tip feature if it's a client who normally doesn't tip or someone buying a package of massages or something

 

[Doctor]

Using "Square" for Credit Processing

Hmm, so I do sell a lot of packages and occasionally I will bring in more than $1000 in a week, so I have to wait 30 days to collect the amount over the $1,000??

Thanks for posting that information b/c about every other month I do bring in over $1000 per week and was actually thinking of switching to Square, but I won't now. I'm not going to wait to have the amount owed me waiting 30 days to post to my account!

You've got to be kidding me!! I know you're not, but really, 30 days to get the extra amount. Yikes! That may work if you don't bring in that much in a week, but that policy will definitively hurt those that do!

 

[Mike S]

Using "Square" for Credit Processing

Hmm, so I do sell a lot of packages and occasionally I will bring in more than $1000 in a week, so I have to wait 30 days to collect the amount over the $1,000??

Thanks for posting that information b/c about every other month I do bring in over $1000 per week and was actually thinking of switching to Square, but I won't now. I'm not going to wait to have the amount owed me waiting 30 days to post to my account!

You've got to be kidding me!! I know you're not, but really, 30 days to get the extra amount. Yikes! That may work if you don't bring in that much in a week, but that policy will definitively hurt those that do!

Seems like Square will deposit more than $1,000 - you just have to contact them.
This is from their faq

How much money will Square deposit?
Updated Apr 29, 2011 04:48PM PDT
Businesses come in all shapes and sizes. No matter if you have a small kiosk at a local festival and only accept $500 in a day, or a law firm that regularly accepts payments over $20,000. We don't limit how much you can accept.

As with all things financial, there is always some risk involved. We have to make sure we're keeping Square safe and secure for everyone. New users of Square receive a maximum amount of $1,000 per week deposited in to their bank. For example, let's say you accept $5,000 in a week. You will receive $1,000 of that immediately while the remaining $4,000 will be deposited after 30 days.

Most of our users are pretty awesome and don't present much of a risk. We certainly have methods in place to increase how much we'll deposit to you. Please write us via the email link below with the answers to these two questions and we'll get you started.

Do you accept payments with the reader or without it?
How much are you requesting?

 

[Collie]

Using "Square" for Credit Processing

UPDATE-
Flex Spending cards are now accepted by Square. Details from their site:


Can I accept HSA/FSA and flex cards?

Updated Sep 19, 2011 07:59AM PDT

For businesses such as licensed healthcare providers and pharmacies, Square can process HSA/FSA or flex cards. At this time, we do not currently support EBT or other benefits cards.

 

[KuroKitty]

Using "Square" for Credit Processing

Hello all. I am very eager to start accepting credit cards at my office and love the idea of Square especially since they can now accept HSA/FSA cards. My current phone doesn't have the ability to use apps so I am planning on getting one that has the Android OS (looking at the LG Optimus V).

However, I am with Virgin Mobile (who uses the Sprint network) and have their no contract "Beyond Talk" plan for $25/month with unlimited text & data, and 300 minutes talk. This has worked great for me so far as I only use it for my practice. The fact that I get NO reception outside the city is moot as my practice and my home is inside the city.

My concern/question is does anyone use Square with a similar plan/phone? Does it work well; not freeze during the transaction, etc? I've checked the specs for the phone with Square and it should have no issues, and all the reviews for the phone it's self have been great. I'm just worried that somehow the "bargain" phone service may compromise the credit card process and I would feel better knowing someone else has had experience with it.

Thanks in advance for any feedback or suggestions you may provide!

 

[Pompal 09.]

Using "Square" for Credit Processing

UPDATE-
Flex Spending cards are now accepted by Square. Details from their site:


Can I accept HSA/FSA and flex cards?

Updated Sep 19, 2011 07:59AM PDT

For businesses such as licensed healthcare providers and pharmacies, Square can process HSA/FSA or flex cards. At this time, we do not currently support EBT or other benefits cards.

Correction, Square only takes Health Savings accounts, not flex spending t010

 

[Michael K]

Using "Square" for Credit Processing

UPDATE-
Flex Spending cards are now accepted by Square. Details from their site:


Can I accept HSA/FSA and flex cards?

Updated Sep 19, 2011 07:59AM PDT

For businesses such as licensed healthcare providers and pharmacies, Square can process HSA/FSA or flex cards. At this time, we do not currently support EBT or other benefits cards.

Correction, Square only takes Health Savings accounts, not flex spending t010

Found this today (9/30) on their site in the legal section:

11. Accepted Cards.

Square works with any US-issued and most non-US issued credit, debit, pre-paid, or gift cards with a Visa, MasterCard, American Express, or Discover logo. We currently do not accept HSA cards (Health Savings Account), even if they have a Visa, MasterCard, American Express, or Discover logo on them. We may remove or add Cards that we accept at anytime without prior notice. We will only process Cards that receive an authorization from the applicable Network or card issuer. The person who presents the card to you (“the Payer”), may not be authorized to use the card or otherwise contest the transaction through the Chargeback process (described below).

Oh well. My original question still stands though:

Hello all. I am very eager to start accepting credit cards at my office and love the idea of Square especially since they can now accept HSA/FSA cards. My current phone doesn't have the ability to use apps so I am planning on getting one that has the Android OS (looking at the LG Optimus V).

However, I am with Virgin Mobile (who uses the Sprint network) and have their no contract "Beyond Talk" plan for $25/month with unlimited text & data, and 300 minutes talk. This has worked great for me so far as I only use it for my practice. The fact that I get NO reception outside the city is moot as my practice and my home is inside the city.

My concern/question is does anyone use Square with a similar plan/phone? Does it work well; not freeze during the transaction, etc? I've checked the specs for the phone with Square and it should have no issues, and all the reviews for the phone it's self have been great. I'm just worried that somehow the "bargain" phone service may compromise the credit card process and I would feel better knowing someone else has had experience with it.

Thanks in advance for any feedback or suggestions you may provide!

 

[Maddy P]

Using "Square" for Credit Processing

I have a question about receipts: Is there another way to get receipts to clients other than SMS or email? Some of my older clients don't get text messages and the few who even have internet don't have email. Can you somehow send it to a wireless or bluetooth printer, or do I have to stick with hand-written carbon copy receipts?

 

[amethystannie]

Using "Square" for Credit Processing

Found this site that may help with making a cc provider decision. The link is where you can read reviews of cc processing companies by an independent "watchdog" group -- http://www.cardpaymentoptions.com/

 

[WILNA S]

Using "Square" for Credit Processing

Found this site that may help with making a cc provider decision. The link is where you can read reviews of cc processing companies by an independent "watchdog" group -- http://www.cardpaymentoptions.com/

Thanks for posting this link, kathryn!