When’s the last time you used cash…dollars or coins?
I’ve had the same ragged 1’s, 5’s and 20’s in my wallet for weeks.
Handling credits, or the units that pass for money these days is not your daddy’s Oldsmobile.
…and the opportunities for fraudulent intrusion on your finances is growing greater.
Like so many of my freelance Voiceover colleagues, I use PayPal for most of my financial transactions. Once in a while, with overseas clients, I use TransferWise.
I grind my teeth when they take out their transaction fee, for clients who pay me. Friends chalk it up to the cost of doing business. But when I also pay that fee as a buyer…then I’m getting hit on both ends. That’s not fair, and often I’ll ask the client upfront to pay the service fee.
My point is that the world is turning on virtual money these days. I use Paypal, yes… along Square, and Stripe for handling credit card transaction with my clients.
In personal transactions, though, there’s Venmo, and CASH. Almost all CC companies and banks are offering transfer services like Zelle and Chase Pay. BitCoin is not going away either.
Now, there’s Google Pay, Apple pay, and Samsung Pay. If you use a smartphone, there’s almost no escaping the endless promotions and nudges to use these services. (See: 5 Reasons…)
PayPal and another service called SoFi are not actually banks, but they act like one (If it walks like a duck, and talks like a duck…)
All these new paradigms are dizzying, and it’d be easy to take advantage of you as the consumer, if you’re not careful.
Lately, I’ve been hearing some not-so-nice things about SQUARE.
I have to be careful not to get myself named in a lawsuit, here, so let me say that I use Square, and I have never been wronged by them. But it’s hard to ignore repeated warnings like this one I got in email the other day:
Square is a credit card processor that seems to enjoy abusing small business owners, go see my review.
If you’re using Square, just be aware they may shut down your account and hold your money for months WITHOUT WARNING.
If you’re interested in more, follow the link in the above warning…the YT video explains a lot.
Let me know in the comments below if you’ve had any similar experience with Square.