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Accepting credit cards over phone? - Page 2

post #16 of 19
I use square and I love it!!

No his mind is not for rent, to any god or government...

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No his mind is not for rent, to any god or government...

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post #17 of 19
Quote:
Originally Posted by pieceofcake561

I have been doing research on the mobile credit card devices and have found many negative reviews about the square. A ton of reviews have said that the company does not answer their phones or return emails and that many customers are having issues getting their money. The company has issues with purchases that are typed into the phone instead of swiped. (i.e. if you wanted to take a credit card over the phone instead of in person). If you have over $1000 in sales per week through this type of sale, the company will not release the money to you and many people have been saying that they are missing thousands of dollars because of this. I was so excited about the square until i started to do research online thumbsdown.gif



I took a payment for $988 over the phone this past week using square, and it was in my bank the next day. Maybe I came in under the limit.
post #18 of 19
Quote:
Originally Posted by costumeczar

I took a payment for $988 over the phone this past week using square, and it was in my bank the next day. Maybe I came in under the limit.


The way I understand it, only the amount over $1000 for card-not-present transactions within 7 days gets held. So if you took that payment 2 days ago and you take another payment for $500 over the phone tomorrow, you would get $12 deposited to your account, and the remaining $488 would be held for 30 days. Any further phone transactions for the next few days after that would also be held for 30 days.
post #19 of 19
Quote:
Originally Posted by jason_kraft

Quote:
Originally Posted by costumeczar

I took a payment for $988 over the phone this past week using square, and it was in my bank the next day. Maybe I came in under the limit.


The way I understand it, only the amount over $1000 for card-not-present transactions within 7 days gets held. So if you took that payment 2 days ago and you take another payment for $500 over the phone tomorrow, you would get $12 deposited to your account, and the remaining $488 would be held for 30 days. Any further phone transactions for the next few days after that would also be held for 30 days.



Yeah, that's what i said I must have come in under the limit. But thanks for the math lesson icon_rolleyes.gif
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