Jurgen There are no additional charges from Square. Within an hour of processing a cc I get a notification that the card has been processed, including the amount. Less than 48 hours later, and most of the time even sooner I get a notice that the money, less 2.5%, has been sent to my bank. After checking my bank statement I can see that the money is recorded in my checking account a day later. No other charges or fees are taken out. The device for accepting the cc is also free. It takes about 30 minutes to set up your account . But, as you have found out, the fee for accepting a cc without the actual card is 3.5%. But again, that is the only fee. No other charges are incurred, unlike a bank that charges a monthly fee. Wim Sent from my iPhone On Jan 25, 2013, at 10:12 AM, Jurgen Goering <pianoforte at pianofortesupply.com> wrote: > Quoting a base rate for a credit card transaction is only a part, and incomplete part of the picture. > My base rate is 1.8%, but my monthly effective cost ratio varies between 3.3% to over 5%. This has to do with additional charges, fees and add-ons. > > What I was actually hoping for was for someone to say: "I use ACME Systems" and last month my total fees were $50.- on $2000.- of sales charged to credit cards. (That would represent an effective cost of 2.5%) Even with the Square, have users checked their statements and done the actual math? You could be surprised, because the actual transacting is contracted out to a third party..... > > > Jurgen Goering > Piano Forte > (250) 754-2440 > > www.pianofortesupply.com > > > > > > -------------- next part -------------- An HTML attachment was scrubbed... URL: <https://www.moypiano.com/ptg/pianotech.php/attachments/20130125/71d39a36/attachment.htm>
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