The Woodturning Forum - Woodturner's Resource - Selling without credit cards

Lee Watermann Senior Member Offline WR Rocks! Posts: 416	Re: Selling without credit cards Reply #15 - Mar 2^nd, 2015 at 9:57pm SS number? That's a killer.
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Steve Doerr WR Addict Offline Wood is one of God's hidden /> /> canvases. Posts: 837 Joplin Missouri USA Gender: Rikon 70-050VS Jet 1642 EVS 2HP Robust American Beauty	Re: Selling without credit cards Reply #16 - Mar 2^nd, 2015 at 10:06pm Lee, you have to understand, they are required by laws to report you earns to the IRS. That's why the SS#.
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Ron Sardo WR Administrator WR Patron Offline Chief cook and bottle washer Posts: 9,674 Drums Pennsylvania USA PM 3520	Re: Selling without credit cards Reply #17 - Mar 3^rd, 2015 at 9:17am Steve is correct. The only way to avoid giving your SS# is to give them your EIN# if you have one
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Lee Watermann Senior Member Offline WR Rocks! Posts: 416	Re: Selling without credit cards Reply #18 - Mar 3^rd, 2015 at 10:48am OK Steve and Ron. Thanks I didn't realize that. Just don't like giving it out. Everybody is getting hacked and they could too.
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JimQuarles WR Addict WR Patron Offline WR Rocks, BIG Time! Posts: 13,194 Glendale, AZ Arizona USA Gender:	Re: Selling without credit cards Reply #19 - Mar 3^rd, 2015 at 12:25pm It is the same as if you were opening a bank account, because that is what you are doing. Full identifying information is required by the US Patriot Act for any bank account, and then the bank should verify the info through one of the credit bureaus.
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Lee Watermann Senior Member Offline WR Rocks! Posts: 416	Re: Selling without credit cards Reply #20 - Mar 3^rd, 2015 at 10:56pm Jim, I have a secondary bank account that I was planning on using. Doesn't one use there own?
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JimQuarles WR Addict WR Patron Offline WR Rocks, BIG Time! Posts: 13,194 Glendale, AZ Arizona USA Gender:	Re: Selling without credit cards Reply #21 - Mar 4^th, 2015 at 12:52am The account with Square is considered a bank account by the Feds. If they process $600 or more they will issue a 1099-K as a third party funds processor.
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Kat Tomiczek WR Noob Offline WR Rocks! Posts: 10	Re: Selling without credit cards Reply #22 - Mar 4^th, 2015 at 6:17am I love this forum, you all are so helpful. Yes, we've lost sales because of not having credit card processing. Accepted a few checks from individuals whom we knew but many walk away due to lack of cash. So we are ordering our Square reader today on their website. Thank you all for your input.
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JimQuarles WR Addict WR Patron Offline WR Rocks, BIG Time! Posts: 13,194 Glendale, AZ Arizona USA Gender:	Re: Selling without credit cards Reply #23 - Mar 4^th, 2015 at 12:06pm Once you have your account set up, you can order additional Square readers at no additional cost.
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Anthony Yakonick Senior Member Offline Posts: 413	Re: Selling without credit cards Reply #24 - Mar 4^th, 2015 at 9:21pm For those witout a smartphone the Trio AXS tablet gives you a free data plan for life, not much data per month but enough to get you by at the shows. Multimedia File Viewing and Clickable Links are available for Registered Members only!! You need to or
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Lee Watermann Senior Member Offline WR Rocks! Posts: 416	Re: Selling without credit cards Reply #25 - Mar 5^th, 2015 at 9:24pm Anthony, that is interesting.
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Anthony Yakonick Senior Member Offline Posts: 413	Re: Selling without credit cards Reply #26 - Mar 5^th, 2015 at 9:53pm Lee Watermann wrote on Mar 5^th, 2015 at 9:24pm: Anthony, that is interesting. It's Tmobile, check your area coverage.
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Lee Watermann Senior Member Offline WR Rocks! Posts: 416	Re: Selling without credit cards Reply #27 - Mar 6^th, 2015 at 8:24pm I went with Square. Very painless and I think it's a must. I can even use it for my garage sale.
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Cliff De Witt WR Addict Offline Posts: 940 DeSoto, TX Texas USA Gender:	Re: Selling without credit cards Reply #28 - Mar 6^th, 2015 at 10:08pm I was talking to someone today and they recommend the new PayPal card reader as they take a smaller percentage of the transaction.
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Don Stephan

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Re: Selling without credit cards
Reply #29 - Mar 8^th, 2015 at 11:02am

No knowledge of any system other than thru my bank, but be sure to investigate all of the costs that might be incurred, not just the processing percentage. There may be an initial charge to initiate. Each credit card has its own percentage charge, they are not all the same. There may be "interchange fees" on top. Finally, there may be fixed monthly fees as well. It is interesting to me that VISA charges me I think $2 on months when I don't have charges to VISA cards.

After looking closely at Square and PaPal 18 months ago, I decided to use my local bank's offering. I have a $12/month bank fixed fee, but 18 months ago I found lots of complaints about Square and Paypal, which may have been rectified.

Total monthly cost on credit card sales averages about 3.3% for me. Just FYI.

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