Have you used Square reader?

[tecboy]

Okay, I guessed I was confused. There was a small print on the back of the box. It wasn't clear, and I didn't understand. There is no instruction on how Square charging with 2.75% fee. I was watching in Youtube, and it looks very enticing, but no mentions about the low fee.

 

[astroNikon]

I thought in post # 12 you were "okay" with it?
maybe just return it and research all the alternatives before making a decision again ?

 

[tecboy]

I thought in post # 12 you were "okay" with it?
maybe just return it and research all the alternatives before making a decision again ?

I'm okay for now. Just something I learned. No biggy!

 

[pixmedic]

we used square years ago but switched to paypal reader when it first came out.
we switched for a few reasons which arent as relevant now as they were back then.
while square was cheaper than paypal on their per transaction fees, at the time it took 3 business days to actually get the money into our bank account.
with paypal, we could use the money immediately either using our paypal business debit card to make transactions, or at an ATM machine to get cash.
money transfers to our bank also only took 1 business day.

nowadays, however, the people we know that use square tells us that their money transfers only take 1 business day as well and they are quite happy with the service.

 

[480sparky]

You don't want to use the mag-stripe reader. If the customer's info gets hacked because you used it, you are liable.

 

[tecboy]

I purchased it about $50. I thought it is one time fee.

You sound like you got it at a store. At the store it is a one time fee, to buy the square reader hardware from the store. That's their incentive to carry it.

If you get your reader from the Square Reader site the hardware if free when you sign up.

I'll contact Square, see what they have to say.

You don't want to use the mag-stripe reader. If the customer's info gets hacked because you used it, you are liable.

That is the reason I paid $50, whatever that is.

 

[bluewanders]

we used square years ago but switched to paypal reader when it first came out.
we switched for a few reasons which arent as relevant now as they were back then.
while square was cheaper than paypal on their per transaction fees, at the time it took 3 business days to actually get the money into our bank account.
with paypal, we could use the money immediately either using our paypal business debit card to make transactions, or at an ATM machine to get cash.
money transfers to our bank also only took 1 business day.

nowadays, however, the people we know that use square tells us that their money transfers only take 1 business day as well and they are quite happy with the service.

It does happen pretty fast now... you'll get a transfer every day that money gets paid before your "close of business" which is an hour you set for yourself. If you absolutely positively need your money right now they also have Instant Transfers now which hit your account "instantly" for 2% of the transfer I believe it is. I used it once to nab a daily deal from B&H, it really was that fast.