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Credit card machine providers
jooboo
Posts: 14 Forumite
in Credit cards
The company I work for (a fitted kitchen, bedroom company) has been trying to get a credit card machine. So far they have tried two different providers and both providers refused on the ground that we take deposits. The company is a member of the KBSA (Kitchen Bedroom Bathroom Accociation) and in order to stay a member had to start taking deposits. The KBSA had fought for an insurance scheme for it's members to insure up to 25% deposit should the company go bust etc. Even with this in place we were still refused. .The only way around it is if the bank hold the deposit for 45 days which is crazy our turn around from time of deposit to installation and final payment 21 - 28 days on average. I rang the KBSA and they are in talks with Barclaycard to try and reduce the holding time. We have also got used to taking deposits now and it helps cash flow in these quieter times. What happens when we are a chequeless society? Yet again the banks will have our money!:eek:
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