Before jumping on the flat-fee Square-Up payment processing bandwagon, be sure to consider alternatives that might make more sense than Square.
You should know (and Square does not emphasize this for obvious reasons) that Square is an aggregator (aka ‘money mover’), not a merchant account. That means Square, not you, controls your money in their account, not your account.
If this concerns you (and it should), why not consider a traditional merchant account at exactly the same flat fee rate Square offers, but with a number of important advantages to both you and your customers:
Here is a summary of advantages of using a traditional merchant account of this sort, instead of an aggregator like Square:
- Rates lower than Square: 2.69% flat swiped with no per item fee
- No monthly statement fee
- Much more merchant friendly terms and conditions Learn more
- No signup or programming fees
- No batch header fees, annual fees, hidden fees, etc.
- No contract or early termination fees
- Your money goes into your bank account controlled by you, not into an account owned and controlled by Square.
- Free card swiper device for your iPhone or Droid
You owe it to yourself to at least look into this option before signing up with Square-Up.
And if you’re STILL determined to sign with Square, make sure you thoroughly read the Terms and Conditions Agreement you’ll have to sign; you might not like what you see. Learn more about Square Terms of Service.
Learn more or apply here.
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