Mary, you may want to research this some more via Google. Square offers flat pricing, you will always know how much each transaction will cost you - swipped will be 2.75% of the sale and keyed in will be 3.50% + transaction fee of .15 each. No other fees, which makes it simple math.
But as
Brick mentioned there are many reviews out there that have warnings about their practices. First it is important to note that Square is much like Paypal, not a typical merchant processor, at least that is what I am understanding by my research. This is where the issues brick mentioned come into place, but my findings are a little different than how brick descibed.
Since Square does not do a credit check on their customers, it sets limitations on transactions to help prevent fraud. This is according to several reviews but this
one seems to spell it out the best so will quote it here:
Square place sholds on funds of
card-not-present sales for 30 days if more than $2,002 is charged within any rolling seven day period. This means that if a merchant keys-in $2,100 in sales within a seven day period (either in a single transaction or multiple), instead of swiping the card through the card reader, the extra $88 will be held by Square for 30 days. This policy applies to any amount over $2,002 in any seven day time period. Merchants who regularly process more than $2,002 a week in card-not-present sales have two options to circumvent the deposit hold. With the first option, Square periodically reviews accounts and will automatically raise the limit for merchants that regularly process over the limit, have few refunds and very few to no
chargebacks. The second options allows merchants to request a raise their card-not-present deposit limit by emailing Square’s customer support.
According to this review (I did not check), this information is located on Square's website under the help tab. This review goes futher in stating that sometimes Square will placehold for longer that 30 days. See the review for the rest. As stated several other reviews had similar comments regarding Square.
It would be my guess that Square is stating this due to the fact that anyone can use Square - from casual sales via Craigslist, a vendor at a fleamarket to a brick & morter store so they are trying to protect themselves due to the risks they are taking. The second part of the quoted statement above fairly sums up the risk factor issues for most of us... little to none. So it would be my thoughts that you would be able to get this limit raised if need be.