Credit card reader users/potential users

[g35_coupe]

For the past couple of years I've been using Square's CC reader. A 2.75% fee isn't too bad IMO. For those considering it, I think they're super easy to use and customers love it. Just yesterday, I realized I lost my newer-style reader so I used my older, back up one. This morning I ordered a free replacement online and they ship relatively quick so that aspect is awesome. Cash is my #1 form followed by checks, then CC's, so I'm only using it once or twice a month so I have yet to have a bad experience. How often are you using yours? Anyone think their fee is too high or seen any technical issues? Is anyone leery about getting/using one (CC fraud, etc.)?

[VP Mark]

I've used Square for two years now with absolutely no problems. If I did a higher percentage of my transactions by credit cards I might switch to a different reader but 2.75 really isn't bad considering I only do a few hundred a month with it.

[Joe@Superior Shine]

SQUARE for the WIN!!

[jarred767]

I use square all the time! All my transactions go through the system (card or check) so they keep track of all receipts on my online dashboard. It makes taxes and book-keeping waaay easier. Their transaction fees aren't too bad, and to be honest, I kind of encourage people to use it. Most of them love to be a part of "new technology" and I've found that people tip almost double when using a card compared to cash or check, so I'm actually making more money!!

Just make sure to go on to your online dashboard and fill out all your info, and upload your logo, then all that stuff is on the receipt that Square emails your customer; it makes you look more legit when you gladly accept credit cards (or at least that's how I feel).

I'm on board long-term!!

[cardaddy]

Square's rates are REALLY cheap in the grand scheme of things.

I used to take cards in my Towing business, as well as my Home Theater business. For those you could get a better rate, but you had then (and now) a minimum monthly volume AND a monthly fee. When we started doing detailing a couple years back I shopped all sort of card services, many offering 'free' or offering a rate down at 1.45% to 1.95% (+ 2¢ to 5¢ per card swipe). Then when it came, and was all set up they charged TWICE the advertised rate because I wasn't hitting $2500 a month every month.

Sure, a dedicated card processing service has phone service, and SOMETIMES you get faster deposits (not all the time) but Square just works. No minimum, money is generally there in 24~36 hours, AND the fee isn't really bad overall.

Remember; you can add the card processing fee(s) to any sales now. Used to be it was illegal to 'single out' card payments for added fees, BUT what you could do was up all your fees XXX% points and then *discount* for cash payments. That way somebody with a debit or credit card couldn't say they were being singled out. Now however you just tack the fees onto the payment as it's a valid operating expense.
(Or just build it in and don't even go there with the client.)

[brondondolon]

I had square all set up and for the go on my tablet. Then the guy at my bank was like "Why do you use square and not our merchant account card reader" so then he sold me on it. Told me its absolutely free and there is a $200 fee that he will waive if i sign up today. So i signed up. Next thing i know I was doing some of my own accounting and this company was taking roughly 8 dollars of every hundred and charging me 40 a month! I was so pissed! Basically my bank lied to me. Now im back on square with no complaints.

[jarred767]

(Or just build it in and don't even go there with the client.)

[cardaddy]

I had square all set up and for the go on my tablet. Then the guy at my bank was like "Why do you use square and not our merchant account card reader" so then he sold me on it. Told me its absolutely free and there is a $200 fee that he will waive if i sign up today. So i signed up. Next thing i know I was doing some of my own accounting and this company was taking roughly 8 dollars of every hundred and charging me 40 a month! I was so pissed! Basically my bank lied to me.

Exactly! There isn't a bank, or processing company out there that even comes close to Square's overall fee structure. I was told that if I charged a minimum of $2500 a month that I could get it down to 1.75%, but that still had "per card swipe fees". Don't think they'd waive the monthly fee till it was upwards of $7500 a month.

One even told me they had a "free card reader" that I could use with my phone. Although they refused to ship it to me. Then charged me "card not present" fees when I ran a card. When I questioned them, they said sure they had the reader but I'd need to pay the "handling and shipping fee". Considering that was $24.50 it would have taken $2450.00 worth of charges to pay for the extra .5% "Card Not Present" fee.

Then they charged $24.50 for the card reader, shipping it anyhow, along with $19.95 monthly fee just for the privilege of BEING ABLE to use their services. I used them once (before ever having the NOT FREE "free" swiper) and ended with $44.45 in charges out of a $150.00 sale.

So if you're shopping Paynet Systems..... DON'T!

[StangFan25]

I've been using square since they first came available. They have the New readers on preorder for $25 that are designed for the New safer chip credit cards. I'd suggest getting one. Soon the original square readers will be obsolete.