I’m using them. If you only do a small amount of credit cards, DON’T use them. They have a monthly minimum of $15 in earned fees you must accrue, otherwise they charge you $15 less any of the fees you have ran. So for instance Joe, if you had 2 transactions a month with Square for $350 each, you’d only be out 19.26. Signature doesn't just charge the .09% + couple odd cents transaction fee, there's also a daily batch open and close fee of .20, a monthly IRS reporting fee, and a few other small monthly fees to pay that make it not make sense for anyone using it a few times a month. It’s good for me however as I do around 50% of my business in credit/debit each month and we get alot of out of state buyers here, where if I were to use Paypal Here to manually punch in a card, their rate is 3.2% + .20 cents fee, whereas using Signature’s manually punch in, its the same .09% rate across the board.
I also still use Square anytime anyone pulls out an AMEX, as the fees for this through Signature are outrageous.
Chris, that calculator doesn’t take into account the daily $0.20 batch open close charge in addition to the other static monthly fees they charge. For minor usage, it’s not the windfall it makes it out to be, just being honest. I’m still saving money by using them, but not as much as I had originally hoped, but still, less overhead is less overhead, so I’m not complaining.