> just enter bank issued debit card for fee-free transactions.
IIRC, Square is only able to do this by abusing the "refund" feature of debit cards to credit money to those accounts. I read an article a while back that claimed the banks were not happy about this, and considering shutting it down (or rate-limiting it) in the future.
I believe that was only speculation as to the method.. Though the alternative that was speculated was transfers at a loss to Square (with an increased user base as the motive).
IIRC, Square is only able to do this by abusing the "refund" feature of debit cards to credit money to those accounts. I read an article a while back that claimed the banks were not happy about this, and considering shutting it down (or rate-limiting it) in the future.