Need someone to send me $1500. Could use Square, but 3.5%... pfft. Options?

[vision63]

I think you all should experiment with sending me money utilizing all of the various methods mentioned here. Then I'll do a report on how it worked out and share it with the group.

[Markintosh]

As a guy that uses Square for three different business uses...I would use it and eat the $50 as a convenience. Square is a zillion times better than PayPal. Most payments process the same day at 5pm.

Square offers a lot of different way to do transactions for small businesses. I sure hope they stay in business!

[vision63]

Markintosh wrote:
As a guy that uses Square for three different business uses...I would use it and eat the $50 as a convenience. Square is a zillion times better than PayPal. Most payments process the same day at 5pm.

Square offers a lot of different way to do transactions for small businesses. I sure hope they stay in business!

I used Square as soon as it was possible. It allowed me to capture business that I otherwise would have missed out on. Piece of cake. When you think about what we had before with banks and merchant accounts and bulky machines that needed a telephone line or the one that used wireless but cost a thousand dollars for the swiper machine. I shudder that I dealt with a bank.

[jdc]

Square would have worked, but they have a deposit schedule that akes 2 days when you deposit on Friday = Monday.

Payments taken before 5 p.m. PT/8 p.m. ET will be available in your bank account the next business day.
Payments taken after 5 p.m. PT/8 p.m. ET will be available in your bank account by the second business day.
On Friday, the cut-off is 1 p.m. PT/4 p.m. ET. Any payments taken after 1p.m. PT/4 p.m. ET will be sent in the following deposit.
Deposits are not sent on Saturdays.

So it looks like if you swipe a card After 5 PM Thursday, doesnt go in until Monday. It looks like I would done it before that to get the $$ today. No money comes in on Saturday.

It is what it is, but I wonder about how long some of these "rules" should actually last? I mean these days we live in a 24/7 world, and the net allows us to work worldwide instantly anytime. You would think that banking might catch up with that fact and start offering deposits all the time, everyday, everyhour. Its not like theres some guy sitting in an office approving every deposit that comes thru a bank.

Im in Cali, and have clients in Portland, Seattle, Billings, Pontiac, Charlotte, Nashville and Sarasota -- 5 years ago I might not have thought that was even possible -- especially with large graphics. But no more. Fast net and Dropbox have made those limitations a thing of the past.

[vision63]

jdc wrote:
Square would have worked, but they have a deposit schedule that akes 2 days when you deposit on Friday = Monday.

Payments taken before 5 p.m. PT/8 p.m. ET will be available in your bank account the next business day.
Payments taken after 5 p.m. PT/8 p.m. ET will be available in your bank account by the second business day.
On Friday, the cut-off is 1 p.m. PT/4 p.m. ET. Any payments taken after 1p.m. PT/4 p.m. ET will be sent in the following deposit.
Deposits are not sent on Saturdays.

So it looks like if you swipe a card After 5 PM Thursday, doesnt go in until Monday. It looks like I would done it before that to get the $$ today. No money comes in on Saturday.

It is what it is, but I wonder about how long some of these "rules" should actually last? I mean these days we live in a 24/7 world, and the net allows us to work worldwide instantly anytime. You would think that banking might catch up with that fact and start offering deposits all the time, everyday, everyhour. Its not like theres some guy sitting in an office approving every deposit that comes thru a bank.

Im in Cali, and have clients in Portland, Seattle, Billings, Pontiac, Charlotte, Nashville and Sarasota -- 5 years ago I might not have thought that was even possible -- especially with large graphics. But no more. Fast net and Dropbox have made those limitations a thing of the past.

You gotta remember that the government has to squeeze itself between each transaction. That's why most purchases appear as "pending" when you check your online account. Checks have to "clear" the government clearinghouse as does each and every transaction. If they ever bust you for something, they'll have their proof (kind of a pun since it's proof operators that historically sent checks to clearinghouses). In one of my former lives I was an Operations Supervisor for a bank.

[Speedy]

So, jdc, what did you end up doing?