CASH ONLY payments for the business Y / N?

[Dan Tran]

Hi geeks,

My question for today:

Am I limiting myself to keeping my business as a cash only operation?

Yes / no?

Reason --


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I feel there are more chances of fraud out there if I accepted credit cards. Am I just paranoid?

Agree / disagree?


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[KirkH]

Fraud by who? Customers? Hackers?

I use the Square app. Customers are more likely to go for the upsell if you take cards. How many times have you heard "Well I only have < > in cash."


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[Justin at Final Inspection]

Going to be accepting cards using square starting first of the year! Had a client who asked the other day about taking credit. Just add the 2.75% on the price of the detail.

[FUNX650]

My question for today:

Am I limiting myself to keeping my
business as a cash only operation?

------------------

I feel there are more chances of fraud
out there if I accepted credit cards.

What's that old saying...(I think
that it goes something like this):

"One of the best ways to get to
know someone, is to take note of
the accusations they confer, and/or
otherwise attempt to assign, upon
other people."



Bob

[Eldorado2k]

Going to be accepting cards using square starting first of the year! Had a client who asked the other day about taking credit. Just add the 2.75% on the price of the detail.

Who does that 2.75% go to? You or Square?


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[GSKR]

Cash or check.Ive literally had 4 people within 8 years ask me if I took credit and I lost those jobs.So to me I don't really think it's worth it for my business.Pizza shops hair salons and others a must have.For me I had A thousand dollar job,the guy gave me 300.00 in cash and ran 700.00 thru my other business on credit.keep it simple cash or check.And if the check bounces go to the sheriffs dept.Here in fla they mail out a good faith letter demanding payment within 14 days.No payment warrant issued and it's a felony.

[Justin at Final Inspection]

Who does that 2.75% go to? You or Square?


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It goes to square. No monthly fees. Just 2.75% per swipe. Money gets deposited into your business account within 2 business days.

You can get a free square or pay 30$ and get one that does both regular strip cards or the new chip cards.

[OTSDetail]

Cash & cards are key. I only accept checks from family friends and people I know. Get a greater chance of a bounced check than a card chargeback. I use Square as well. Not worried about a 2.75% deduction, just build a card fee into your prices regardless if you're that concerned. Square has chargeback protection as well. Make the customer sign when you process the card and maybe make them sign an itemized receipt/invoice from you and you should be covered there. Cash is the only REAL 99.99% way to avoid fraud, but I don't see why you should worry about chargebacks. Especially if you go with a good quality processing company such as Square.

Also, are you losing business over it? More than likely no if you make that known as your only accepted payment method. Card fees are just the cost of doing business. Same as insurance, products, gas, etc.

[CarolinasFinestDetailing]

Hi geeks,

My question for today:

Am I limiting myself to keeping my business as a cash only operation?

Yes / no?

Reason --

Yes, you are absolutely limiting yourself. We live in a society spoiled by convenience. Most people nowadays barely carry cash. It is so easy and convenient to have your check deposited at the bank and have a card to use for everything rather than fumbling through cash and coins. I for one have $10 in my wallet right now. You are also limiting yourself on big ticket jobs. Some may see you as flying under the radar as well.


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I feel there are more chances of fraud out there if I accepted credit cards. Am I just paranoid?

Agree / disagree?

Disagree. Never take a card over the phone. At least that`s my big rule. Get a Square card reader. Yes, you lose a small bit, but its all part of doing business. There is a setting to allow the custom tip option. I honestly get more tips than ever using my Square reader. Get rid of the paranoia and get with the program!!


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See bold.

[Dan Tran]

CarolinasFinestDetailing, I like your answer. Your are safe from elimination.

The tribe has spoken.

Looks like I am going to look into a Square reader.

Thanks for playing everyone.

::smiley face::


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