Hi @JBRental-Moving. There are a couple of answers to your question. Here goes.
First, per this Square Help Document on accepting cards, we all have a $50,000 limit on any transaction. This is an upper limit that seems to be hard and fast, for now.
Otherwise, here is a link to a Square FAQ on Payment Limits in general. It is worth reading carefully. Unfortunately, no one can tell you what is going to trigger reviews or limits being placed. It depends on your industry standards, as well as other factors. Often this is outside of Square’s control. For example, if Visa or Mastercard or Amex decides to flag a transaction for review, Square is required to comply and initiate a review process, even if Square disagrees. That’s the law, and part of Square’s contract with the card issuers.
Lastly, I’ll say this. Take the “horror story” posts that you read here with a grain of salt. In my years of helping other sellers here in the Community, I’ve learned one thing — people exaggerate, they omit critical information, and so forth. If I were a betting man, I’d bet that most of the complaints you see here happened because a seller took an unexpectedly large transaction for their business type and their account history. You mentioned that you are new to Square. Yes, there may be a “hidden” limit that I can’t find in the help documentation for new sellers. So, I’m going to tag a couple of moderators here who might be able to help you further as you get started with Square. Who knows? The fact you are an established company and can prove your history with other card processors might help. If so, these moderators might be able to point you in the right direction to alleviate your concerns.
That’s the best I can do as a fellow sellers here. Welcome to Square! I hope you can put these concerns in your rear-view mirror and get back to running your business soon. If you need any assistance in the future, you know where to come for help.
Hi @JBRental-Moving. There are a couple of answers to your question. Here goes.
First, per this Square Help Document on accepting cards, we all have a $50,000 limit on any transaction. This is an upper limit that seems to be hard and fast, for now.
Otherwise, here is a link to a Square FAQ on Payment Limits in general. It is worth reading carefully. Unfortunately, no one can tell you what is going to trigger reviews or limits being placed. It depends on your industry standards, as well as other factors. Often this is outside of Square’s control. For example, if Visa or Mastercard or Amex decides to flag a transaction for review, Square is required to comply and initiate a review process, even if Square disagrees. That’s the law, and part of Square’s contract with the card issuers.
Lastly, I’ll say this. Take the “horror story” posts that you read here with a grain of salt. In my years of helping other sellers here in the Community, I’ve learned one thing — people exaggerate, they omit critical information, and so forth. If I were a betting man, I’d bet that most of the complaints you see here happened because a seller took an unexpectedly large transaction for their business type and their account history. You mentioned that you are new to Square. Yes, there may be a “hidden” limit that I can’t find in the help documentation for new sellers. So, I’m going to tag a couple of moderators here who might be able to help you further as you get started with Square. Who knows? The fact you are an established company and can prove your history with other card processors might help. If so, these moderators might be able to point you in the right direction to alleviate your concerns.
That’s the best I can do as a fellow sellers here. Welcome to Square! I hope you can put these concerns in your rear-view mirror and get back to running your business soon. If you need any assistance in the future, you know where to come for help.
@_Violet @JJ_ @MayaP Please see above. If you can shed some light or offer assistance to @JBRental-Moving, even in a PM, I’d appreciate it.
