mcb39 Posted October 30, 2014 Report Share Posted October 30, 2014 OK, I did a search of the community and read all the comments from 2013 regarding the Square Credit Card Reader. NOW, are there any recent comments as to how well it works and how well any of you like it. I have the free reader coming; have no idea if I will ever use it; have downloaded the app and it appears fairly easy; but would like some input. I have a client who is going to use it and she will be counting on me for guidance and advice. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted October 30, 2014 Report Share Posted October 30, 2014 We use it like it a lot. It's nice not to have to pay a monthly fee during months where we have no charges. I bought a touch screen pen so people don't have to sign with their finger. 1 Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted October 30, 2014 Report Share Posted October 30, 2014 Love it! It's fast and convenient, but the reader can be a bit tricky at times. 1 Quote Link to comment Share on other sites More sharing options...
Lee B Posted October 30, 2014 Report Share Posted October 30, 2014 Also, there are several similar competitors including one from amazon, whose fees are a bit cheaper. I have a concession stand client who uses Square and it seems to work fine, Quote Link to comment Share on other sites More sharing options...
Eric Posted October 30, 2014 Report Share Posted October 30, 2014 I've only heard good things about it. My parents paid an early termination fee for their POS system and switched everything to Square. Got rid of their cash register and terminal in their store and replaced it with an iPad with weighted stand (that incorporates the swipe doodad) with a bluetooth cash drawer and receipt printer. My dad, who is... uhh... not very good with technology, was able to figure it all out very quickly. 4 Quote Link to comment Share on other sites More sharing options...
mcb39 Posted October 30, 2014 Author Report Share Posted October 30, 2014 Thanks all.....that is great encouragement. My client will be using it with a mini ipad, but I will be using Android, if I use it at all. Anybody see any problems with the Android issue? Everything I have read about Square says not; but it is obviously geared to Apple. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted October 30, 2014 Report Share Posted October 30, 2014 I've used it on my Android smartphone, sparingly but with no problems. Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted October 30, 2014 Report Share Posted October 30, 2014 Android phone works fine as do my tablets. Only issue is that sometimes the reader doesn't read. Overall though I'm very pleased. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted October 30, 2014 Report Share Posted October 30, 2014 Only issue I've had has been having to swipe a few times, and the new reader I got doesn't seem to work with my 3GS iPhone. But I am planning on upgrading my phone soon. Or maybe I got a dud reader. Quote Link to comment Share on other sites More sharing options...
Eric Posted October 31, 2014 Report Share Posted October 31, 2014 The only benefit to using an iPad / iPhone (as far as I know) is that there are few variations of the hardware, so there are more accessories available to fit that hardware (like that weighted stand) Quote Link to comment Share on other sites More sharing options...
HV Ken Posted October 31, 2014 Report Share Posted October 31, 2014 Depending on your volume of activity, there is a break even point comparing square to having a credit card machine, as the fees for square are higher. Typically it is around $1500/month. ATX users have access to an arrangement for reduced fees with iTransact for credit card processing. Quote Link to comment Share on other sites More sharing options...
mcb39 Posted October 31, 2014 Author Report Share Posted October 31, 2014 I only expect a few occasional clients pay with a credit card. I thought I could use this as a ploy for those who forget to bring their checkbooks. Most of my clients are excellent about paying and many will pay up front. Thanks again to all of you for your input. Quote Link to comment Share on other sites More sharing options...
HV Ken Posted October 31, 2014 Report Share Posted October 31, 2014 Rather than Square, why not take advantage of the CCHSFS relationship with iTransact? They also have a smart phone reader and I would guess you can get a better rate on the same functionality. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted October 31, 2014 Report Share Posted October 31, 2014 Rather than Square, why not take advantage of the CCHSFS relationship with iTransact? They also have a smart phone reader and I would guess you can get a better rate on the same functionality. Because I don't trust CCH SFS. I signed up for square yesterday. I don't do a lot of CC volume, but I was surprised at how many people wanted to use their debit card. The fees for the off season months was just too much, as well as the PCI compliance fees they charged every year for the CC machine. I am hopeful this will be a great addition to my business. Tom Hollister (soon to be Newark) CA 3 Quote Link to comment Share on other sites More sharing options...
mcb39 Posted October 31, 2014 Author Report Share Posted October 31, 2014 Typically it is around $1500/month. ATX users have access to an arrangement for reduced fees with iTransact for credit card processing. Where do you come up with this monthly fee? Is that an assumption of using the card reader for EVERY client? My understanding is that there is no fee unless you use it and, then, it is 2.75% of the charge. The client that I am helping to set up had a machine that she had to pay for when she installed it. Then there was a monthly fee in addition to the percentage, which was around 5%. She just purchased the business and got rid of the credit card machine. Also, I am in complete agreement with Tom. I DID look at the I-transact. Scary!!!! Quote Link to comment Share on other sites More sharing options...
HV Ken Posted October 31, 2014 Report Share Posted October 31, 2014 Because I don't trust CCH SFS. I signed up for square yesterday. I don't do a lot of CC volume, but I was surprised at how many people wanted to use their debit card. The fees for the off season months was just too much, as well as the PCI compliance fees they charged every year for the CC machine. I am hopeful this will be a great addition to my business. Tom Hollister (soon to be Newark) CA It is not CCHSFS, just leveraging a relationship they have with another company iTransact. Do you not take advantage of the Staples discounts either for the same reason?? Quote Link to comment Share on other sites More sharing options...
HV Ken Posted October 31, 2014 Report Share Posted October 31, 2014 Where do you come up with this monthly fee? Is that an assumption of using the card reader for EVERY client? My understanding is that there is no fee unless you use it and, then, it is 2.75% of the charge. The client that I am helping to set up had a machine that she had to pay for when she installed it. Then there was a monthly fee in addition to the percentage, which was around 5%. She just purchased the business and got rid of the credit card machine. Also, I am in complete agreement with Tom. I DID look at the I-transact. Scary!!!! $1,500 is the breakeven point for transactions. For example (not the real numbers, but for illustration), let's say the rate for Square is 2.5% and a terminal is 2%. At $1,500, the cost to use Square is $37.50 and a terminal is $30. The cost per month to have the terminal is $7.50. So once your monthly transactions exceeds $1,500 then it cost more for Square than having a terminal. If your transaction amount is less than $1,500 then Square or any of the other smart card swipers is a lower cost alternative. What was scary about iTransact? I have been using them for years and it works great. I am also a trusted advisor with them and am able to offer merchant services to my clients at better rates than they get elsewhere. My clients love the savings and I love the passive income from commissions. That's not scary at all! Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted October 31, 2014 Report Share Posted October 31, 2014 I think those of us here using Square are not using a terminal and do not have or expect monthly fees. It just costs 2.75% per swipe. The card reader is free, at least mine was. So my cost is just 2.75% of the transaction. One transaction for $100, $2.75 cost. I don't know where you are getting a rate of $37.50 and a terminal cost. That's not what it costs me and I have no terminal, just a little card reader for free. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted October 31, 2014 Report Share Posted October 31, 2014 You're moving again, Tom? Quote Link to comment Share on other sites More sharing options...
grmy2h Posted October 31, 2014 Report Share Posted October 31, 2014 Has anyone used the PayPal card reader? Opinions of it? Quote Link to comment Share on other sites More sharing options...
taxtrio Posted November 1, 2014 Report Share Posted November 1, 2014 My internet provider is Comcast. Comcast recently sent me an offer to use Square for Credit Cards and I will get credit for the first 1,000.00 in transactions. I rarely use my credit card machine, the 1,000.00 in transactions would probably cover Jan thru April quite easily for me. Currently I am signed up with Cocard thru NATP.. special rate. Minimum monthly charge of 5.00. (which I can pay only seasonally if I choose). But there are always extra fees... 25 cents per transaction, and the state percentage that I get charged as a merchant fee always fluctuates because I get charged extra for rewards cards. So I never know exactly what it is costing me until the statement comes in. That is why I discourage credit/debit cards unless that is the only way I can get paid. The 2.75% that square charges is higher than I usually pay with Cocard. But if they are going to give me the first 1,000.00 in transactions free for the first 180 days-- I will take it! I do have a smart phone and tablet so using their device should be fine. My only question is the receipt has to be emailed to them, right? No way to print it? I have some older clients that don't have email. I can just note on my Invoice that they have paid by credit/ debit card..... that would be sufficient for them... Taxtrio Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted November 1, 2014 Report Share Posted November 1, 2014 For my clients with no email, I email the receipt to me and print it out for them. Email usually shows up instantly. 2 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted November 1, 2014 Report Share Posted November 1, 2014 I use the Intuit one that I just type into QB or into any internet connection to Intuit with no reader of any kind. No monthly fees as a ProAdvisor. I also have their free reader that can go on my iPhone or other device. I almost never use the reader. I use PayPal, but have not used their reader. I saw that Costco has a service. My kids use PayAnywhere with a reader. Their inlaws use a service with the cheapest rates but the worst customer service. My hairdresser bought a system with a machine from Staples. Lots of choices out there, so price out what your expected usage is to compare options and get the best one for your business. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted November 2, 2014 Report Share Posted November 2, 2014 You're moving again, Tom? Yeah, we are moving again. Just closed on a house in Newark, CA. With Patrick at Cal and Jonathan at SJ State, it just seemed to make sense to be in between the two schools. Patrick can move back in with us after his Freshman year and that will save us about 15K per year. We were up at the house today all day and will be there all day tomorrow. Putting in a new kitchen and two new baths. Lots of work. You will have to come over when we have it all done KC. Tom Hollister (soon to be Newark), CA 1 Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted November 2, 2014 Report Share Posted November 2, 2014 I'll look forward to the invite, Tom. And anytime you and/or Patty are in this area, know you are always welcome to my guest room and a free meal. Quote Link to comment Share on other sites More sharing options...
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