I run a home remodeling business we do 20-30k a month in material/labor amounts and have been using square for 5 weeks and I’ve been hit with a few reviews and small holds but not they say that 20% of incoming transactions will be put in a risk fund for 90 days? No.
Thinking of switching to US bank since square, stripe, clover etc can’t handle my “high risk”. Also heard terrible things about quickbooks and customer service is important to me.
Any recommendations for merchant services with low volume high amounts?
We currently switched to the Found card. The invoicing and services have been phenomenal compared to PayPal and square. After our high risk auto accessories business got flagged by square the same day I started the account with money deposited we tried us bank who kept allowing fraud. We tried boa but the merchant service side was lacking and PayPal again fraud when we traveled this past summer for business related. We had over $500 stolen and PayPal kept stating it was our fault and that the company used was one we had history with turned out we found I’d theft and even when providing proof to PayPal and cfpb PayPal still refuses to refund and they still won’t provide actual proof of our use of that company. So we switched to found and it’s been nothing but worth it! I have no issues and the one dispute we submitted against ranking coach was quickly resolved. Best support so far and you can create digital cards and ‘pockets’ it also allows auto save for taxes and you can note each incoming deposit plus it serrated business and personal spending smoothly.
My wife and I run a small business using quickbooks. The customer service sucks and that’s the best thing that can be said.
As for US Bank. We tried changing to them. It was just for one account on a truck we split off of the main business. They screwed up nearly every transaction. Our experience was bad from the day we went in to open the account. It seems like they have more rules and regulations than any other bank. The service with the truck had more cash transactions. Not huge, maybe a couple hundred a month in cash. Each time we went in to make a cash deposit we got the third degree about where it came from, who we were, DOB, signatures. All for a few hundred bucks. We finally gave up and closed the account. When my wife went in to close it, they continued to make things difficult. It took about an hour, and they demanded a reason. Finally, she told them it was because of, “this shit right here.”
Find a local bank and do business with them.
The comments thus far are abit off the mark, since you are asking about a merchant account for credit card processing, not a bank account or credit card to be used for your business.
Not many seem to write reviews about them, probaly because it is such a secondary product. But a few review sites talk about them - https://fitsmallbusiness.com/us-bank-merchant-services/
Your business could be considered higher risk, if you are accepting taking down payments for work that is not being done “soon”. Soon being a definition up to interpretation honestly and US Bank does not involve themselves with any kind of high risk merchants, they are really only for the person that needs a terminal to set on the counter at the office.
If you want mobile payments or a button on your website for them to pay, probably not a good option honestly. I also think you are better off if you want with a company that specializes in payments, because they do one thing and can do that one thing well.
IF you want to chat with someone that specializes in payment processing, send me a DM.