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Credit cards

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By (user no longer on site) OP   
over a year ago

I have my own business and take credit cards / debit cards for payments.

Now as you may or not be aware we get charged a % or a fixed fee depending on the type of card, so we have in place anyone paying for goods under £25 is subject to a £1.50 fee am I being unreasonable for doing so as we have had customer trying to buy things using cards for less than its worth printing an invoice for never mind the credit or debit card fees we have to pay each month ?

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By (user no longer on site)
over a year ago

I think £25 is a bit much. Most places I've seen signs it says £5-10. But you know what profit is in it for your business off the purchases so it's only you that can decide if lowering it would be feasible.

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By *iamondsmiles.Woman
over a year ago

little house on the praire

Most places charge for credit cards under a certain amount and some places dont let you pay for goods below a certain amount

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By (user no longer on site)
over a year ago

My business takes cards too and although our lowest charge would be £42 I still charge 2.5% in credit cards, debit cards are a fixed pence charge so we swallow that.

For smaller amounts I would probably charge a fee below say £5 or not accept cards for amounts below that.

Depends what you sell mind.

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By (user no longer on site) OP   
over a year ago


"My business takes cards too and although our lowest charge would be £42 I still charge 2.5% in credit cards, debit cards are a fixed pence charge so we swallow that.

For smaller amounts I would probably charge a fee below say £5 or not accept cards for amounts below that.

Depends what you sell mind."
all building products

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By (user no longer on site)
over a year ago


"My business takes cards too and although our lowest charge would be £42 I still charge 2.5% in credit cards, debit cards are a fixed pence charge so we swallow that.

For smaller amounts I would probably charge a fee below say £5 or not accept cards for amounts below that.

Depends what you sell mind. all building products "

Ahh so you're getting people buying half a dozen screws with their cards then, I'd still go with the £5 minimum limit though, that way you can up sell them to the £5 mark and make more moneeey

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By (user no longer on site) OP   
over a year ago


"My business takes cards too and although our lowest charge would be £42 I still charge 2.5% in credit cards, debit cards are a fixed pence charge so we swallow that.

For smaller amounts I would probably charge a fee below say £5 or not accept cards for amounts below that.

Depends what you sell mind. all building products

Ahh so you're getting people buying half a dozen screws with their cards then, I'd still go with the £5 minimum limit though, that way you can up sell them to the £5 mark and make more moneeey "
your having a laff it's hard enough trying to sell them what they want never mind trying them to spend more, and yes you get ppl mostly joe public who come in for somthing that cost £1.2o and then hand over a credit cart or debit card too pay Grrrrr

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By (user no longer on site)
over a year ago

Charging for using credit cards is wrong, it is 2013, and we are heading for a cashless society, many businesses are struggling to survive, I have had flower shops for 35 years, since the use of cards has become the norm, we can sell up, and people don't have to think what cash they have, there are times when people want to spent50p, so I lose out, but I am keeping customers, which is cheaper than getting new customers.

Also frre tea and coffee and a bowl of quality sweets on the counter costs o little, but is remembered for years

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By (user no longer on site)
over a year ago

I try to avoid places that don't accept cards or that make charges for them. If you want to accept card payments I think you should factor in the overheads not seemingly penalise people for paying you.

An alternative could be to raise your prices a little but offer discount to those paying by your preferred methods.

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By (user no longer on site)
over a year ago

I have to disagree with those saying "just swallow the charges". People need to be aware of how much the credit card companies are creaming off. They hit the sellers with high percentages and the buyers with outrageously high interest charges or "late payment" fees.

There is nothing more annoying than being held up in a queue because someone wants to pay a charge of a few quid using a credit card instead of just handing cash over.

And if the seller just "absorbs" the credit card costs all that really does is penalise those with the common sense to pay cash for lower amounts by making them pay extra.

Perhaps the trick here is marketing: add the credit card company overhead to prices but offer a cash discount to take it away again for anybody paying cash?

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By (user no longer on site)
over a year ago

bullshit.

takes me no time at all to pay by card unless the machine is crap. Yet often stuck behind somebody trying to find the right change.

You pay bank charges. Your overheads should be factored in to your costs.

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By (user no longer on site)
over a year ago

Though funnily we agree on the solution

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By (user no longer on site) OP   
over a year ago


"I have to disagree with those saying "just swallow the charges". People need to be aware of how much the credit card companies are creaming off. They hit the sellers with high percentages and the buyers with outrageously high interest charges or "late payment" fees.

There is nothing more annoying than being held up in a queue because someone wants to pay a charge of a few quid using a credit card instead of just handing cash over.

And if the seller just "absorbs" the credit card costs all that really does is penalise those with the common sense to pay cash for lower amounts by making them pay extra.

Perhaps the trick here is marketing: add the credit card company overhead to prices but offer a cash discount to take it away again for anybody paying cash?"
we offer very good discounts against list prices anyway, and when you consider our prices compared to DIY shops there is no comparison

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By (user no longer on site)
over a year ago

shopping is more about service, and experience, rather than price, by making a petty charge for the convenience of using a card , will lose goodwill and customers.

and any charges you pay, come off your tax bill anyway, as overheads

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By *nnyMan
over a year ago

Glasgow

Tax? Who in the building trade - at any point - pays tax?

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By (user no longer on site)
over a year ago


"Tax? Who in the building trade - at any point - pays tax?"

you're not affiliated to Amazon are you?

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By *ikeC81Man
over a year ago

harrow

I tend to use my credit card for everything then do 1 or 2 payments a month to settle the bill.

It is just so much easier than having to find a cash machine

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By (user no longer on site)
over a year ago


"Charging for using credit cards is wrong, it is 2013, and we are heading for a cashless society, many businesses are struggling to survive, I have had flower shops for 35 years, since the use of cards has become the norm, we can sell up, and people don't have to think what cash they have, there are times when people want to spent50p, so I lose out, but I am keeping customers, which is cheaper than getting new customers.

Also frre tea and coffee and a bowl of quality sweets on the counter costs o little, but is remembered for years"

that's ok if you have a high margin and can afford to do that. but if you are in a low margin and price sensitive market you simply cant do that. many items in a builders merchant carry a 5% gross margin. if the cc company charges 2.5% who is working for who?

charge for credit cards don't for debit - its only 20p no matter what the amount

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By *atisfy janeWoman
over a year ago

Torquay

Small businesses and sole traders will have to fork out anything between £25 and £30 a month for a credit card terminal, they will then be charged a percentage of each transaction.

A fact that is often missed by customers

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By (user no longer on site)
over a year ago

Do not like credit cards as I do not like being in debt.

I used to use my debit card a lot, but having recently moved to England I have had my post nicked and my debit card skimmed so now get cash straight out of the bank each month and will not use my card.

Had no issue with fees for payments below a certain level as long as the fee was well advertised before it cam to actually paying for stuff

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By *nnyMan
over a year ago

Glasgow


"Small businesses and sole traders will have to fork out anything between £25 and £30 a month for a credit card terminal, they will then be charged a percentage of each transaction.

A fact that is often missed by customers"

We don't miss the way it's built into prices.

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By (user no longer on site)
over a year ago

Just think on this my mates uncle has a shop he paid some toward the installation of a cash machine from lloyds tsbbecause he paid some towards it there is no charge on it for cash withdrawal so if people need to go and get cash and need to buy fags or get change for the bus they go there he has effectively stollen customers from the other shops in the area for the saving of £1.50

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By *atisfy janeWoman
over a year ago

Torquay


"Small businesses and sole traders will have to fork out anything between £25 and £30 a month for a credit card terminal, they will then be charged a percentage of each transaction.

A fact that is often missed by customers

We don't miss the way it's built into prices."

Actually for many small businesses it's not built into prices as they have to remain competitive to survive.

Hence their £5 or £10 minimum spend for credit card payments.

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By (user no longer on site)
over a year ago

as you can see from my pic I am in the beauty business

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