Imagine it from Square’s perspective. I’m assuming your charge is legit, but what is stopping someone from signing up with Square, stealing a credit card # or card, and swiping $5000 from an account? I don’t think it is expected that they would deposit that amount directly into your account on the first day. Limiting it to $1000 limits their outlay in case of fraud.

I’m sure if you are a business who regularly does higher volume transactions you can contact them to have those limits lifted – they are put in place to limit fraud but they are usually adjustable.

Imagine it from Square’s perspective. I’m assuming your charge is legit, but what is stopping someone from signing up with Square, stealing a credit card # or card, and swiping $5000 from an account? I don’t think it is expected that they would deposit that amount directly into your account on the first day. Limiting it to $1000 limits their outlay in case of fraud.

I’m sure if you are a business who regularly does higher volume transactions you can contact them to have those limits lifted – they are put in place to limit fraud but they are usually adjustable.

For example, I volunteer with several non-profit groups. Recently one of the groups held an event with a raffle. Traditionally ticket purchases have been cash only. However, I offered to take credit cards and we sold $150 worth of raffle tickets that we otherwise would not have sold. Plus, I was able to transact entry fees on-the-spot for impromptu entries. Purchasers can choose to receive an e-mail receipt, which we can also use to keep in touch with them in the future. If you have GPS turned on then patron’s receipts also have a Google Maps link where to where the transaction took place. As I work with more than one organization, it’s important for me to keep the deposits straight. With Square, I can enter a “Device Name”, which I use to enter the organization’s name to which the funds should be forwarded. It shows clearly on my receipts. Also, I can enter on each transaction a “Note”. This can be used for any free-form text entry; such as to describe the item or service purchased. And one very cool feature is that you can take a picture of the item being sold and it will be automatically attached to both your receipt and the patron’s receipt. (A great feature for seller protection.)

Square’s rates beat most rates offered by credit card gateways. Costco is the only one I’ve seen that comes close to as good a deal, but Costco is not near as handy for the casual user. For ease of setup and use, Square beats everyone – hands-down.

I’m sold on Square. The only drawback I’ve seen is entering a signature. Entering with a finger is ackward for most people. I purchased a capacitive stylus, but it’s not a whole lot better; that is, it gives about as good a signature as you get with those painful signature pads in the supermarket.

I suggest to anyone that does crafts, holds garage sales, etc. to be proactive and get one now. The wait time for the card swipe device can be substantial. Yet since the service is free, unless you use it, the is no reason not to sign up today.

Andrew