SQUARE Payment System

[Thriftylady]

I am wondering if I should get this for my phone. It would enable me to take debit/credit card payments. My questions are many. Do you have it? Would you suggest it? Are the fees really tax deductible?

[LysesKids]

I have been using Square for years and love it; I advise that you Pay to get the chip reader if you go this route otherwise you could be on the hook if a transaction goes south because you didn't have the updated technology. Being a small business we still fall under the new EMV rules that went onto effect in October.

The reader cost 29.95 or so and can take chipped as well as magnetic swipe cards. $$ is in my bank account within 24 hrs unless the payment was done after 5pm Thursday evening in which case it shows on Monday. You can print off monthly reports too and yes the fees are able to written off

[Snowmom]

I have been using Square for years and love it; I advise that you Pay to get the chip reader if you go this route otherwise you could be on the hook if a transaction goes south because you didn't have the updated technology. Being a small business we still fall under the new EMV rules that went onto effect in October.

The reader cost 29.95 or so and can take chipped as well as magnetic swipe cards. $$ is in my bank account within 24 hrs unless the payment was done after 5pm Thursday evening in which case it shows on Monday. You can print off monthly reports too and yes the fees are able to written off

Just curious, do you charge parents more for using credit cards?
My families and I were just talking about how personal checks are almost obsolete. But dang...I don't want to eat the $3 dollars up front for every transaction.

[TXhomedaycare]

I have been using Square for years and love it; I advise that you Pay to get the chip reader if you go this route otherwise you could be on the hook if a transaction goes south because you didn't have the updated technology. Being a small business we still fall under the new EMV rules that went onto effect in October.

The reader cost 29.95 or so and can take chipped as well as magnetic swipe cards. $$ is in my bank account within 24 hrs unless the payment was done after 5pm Thursday evening in which case it shows on Monday. You can print off monthly reports too and yes the fees are able to written off

I have used mine for a year now and I love it. I would add a processing fee to parents because of the fees they charge but that is up to you. I have a mom that pays the full month so I nice fee is taken out of that.

[Provider_Manda]

I use it and love it! I do charge my parents the fee to use it, but it's nice to have it for parents to have the option.

[LysesKids]

Just curious, do you charge parents more for using credit cards?
My families and I were just talking about how personal checks are almost obsolete. But dang...I don't want to eat the $3 dollars up front for every transaction.

I take payments in cash or credit only (monthly on 1st or bi-monthly, 1 & 15)... I figured my fees with the extra charge already in it & offer cash payers a discounted rate only because that's how gas stations have been doing it for years, PLUS there are a few states that you can't legally charge the extra fee for accepting credit (read the credit card laws for visa/mastercard). I have only 2 cash pays at moment, everyone else is credit .

[daycarediva]

It depends on the state if you can pass along the fees to parents. I raised my rates to reflect the losses, without stating why/what the increase was for. My state doesn't allow the fees to be passed on.

There is an instant deposit feature- money is instantly in my account. I have the chip reader.

LOVE it. Never ever had an issue on Square's end. I am also the only FCC in my area that takes debit/credit. I have 75% of my parents set up on auto charge features (Friday at nap I enter in everything, it emails/texts them a receipt). Easy peasy!

[LysesKids]

It depends on the state if you can pass along the fees to parents. I raised my rates to reflect the losses, without stating why/what the increase was for. My state doesn't allow the fees to be passed on.

There is an instant deposit feature- money is instantly in my account. I have the chip reader.

LOVE it. Never ever had an issue on Square's end. I am also the only FCC in my area that takes debit/credit. I have 75% of my parents set up on auto charge features (Friday at nap I enter in everything, it emails/texts them a receipt). Easy peasy!

I decided not to use the instant feature... that tiny extra fee for the convenience isn't worth it, I still have my $ next day except for Friday/weekends. Having the data/wifi on the phone is great because I can run the card if we are outside at pick up & I don't have to fiddle with receipts as they automatically go to parents email or phone

[daycarediva]

I decided not to use the instant feature... that tiny extra fee for the convenience isn't worth it, I still have my $ next day except for Friday/weekends. Having the data/wifi on the phone is great because I can run the card if we are outside at pick up & I don't have to fiddle with receipts as they automatically go to parents email or phone

I get paid on Friday- so it wouldn't process until Monday. It's sometimes worth the extra 1% if the money is needed.

I increased all parents fees by $5/week. It doesn't cost nearly that much to process- even instant.

[MarinaVanessa]

I have it but rarely use it, I also have the PayPal card reader and have used that more than Square and I like it better but only because I get the payment almost immediately and since I have a PayPal business debit card I can use the funds right away without having to route them to my bank account and wait for that to clear. The fee for using PayPal reader is 2.7% of the amount entered but is a write off.

[LysesKids]

I get paid on Friday- so it wouldn't process until Monday. It's sometimes worth the extra 1% if the money is needed.

I increased all parents fees by $5/week. It doesn't cost nearly that much to process- even instant.

See being paid on the 1st, well next month it's a Tuesday and all the cards will be run by 9am... Wed morning I can start paying all my bills & I'm good, plus I'll have the cash from the one parent... I use the cash payment for my weekly grocery runs ( I only have 3 clients plus & drop-in right now) - to me that 1% is not worth it because of what I literally have to live off of - I have no better half bringing in extra for bills, just me

[Unregistered]

The best thing I have found so far is the Cash App by square, it is FREE to send and receive money and 99% of the time, the money is immediately available in your bank account. If you get a business account, you pay per transaction. But if you don't have a business checking account, then there is no need to get the business square account. I have a paypal card reader but is it is so expensive to use, those fees really add up. The only thing about the cash app is that you can only accept debit cards, no credit cards. I let my families know that I accept cash, check and debit cards. They may pay by CC, but they have to cover the fee and I will only take a CC payment for monthly payments. I have a paypal debit card which is great because I have access to the money right away. I have just recently discovered another free payment system by payquicker. Both parties need to have an account for it to be free. They send you a debit card to use or you can transfer the funds to your personal bank account. I have not tried it out or researched much yet but will update as soon as I do.