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Merchant Services Again!
welshblob
Posts: 450 Forumite
Hi,
Just helping my brother out with his small business. He is currently with HSBC Global merchant services on this deal :
Credit Cards : 2.28%
Debit Cards : 24.1p per tx
£25 per month minimum tx limit
£18+VAT terminal hire
He generally has between £2k - £2.5k going through each month.
So where would be the best place to go for a deal? I called paymentsense earlier who said they give 25% off your current provider. I said whats your best price, he said no 25% off current provider. I said thats not how I do business and put the phone down.
So can i get a better deal elsewhere? Paymentsense don't know who I am so I can ring them up again to try and do a deal.
Rob
Just helping my brother out with his small business. He is currently with HSBC Global merchant services on this deal :
Credit Cards : 2.28%
Debit Cards : 24.1p per tx
£25 per month minimum tx limit
£18+VAT terminal hire
He generally has between £2k - £2.5k going through each month.
So where would be the best place to go for a deal? I called paymentsense earlier who said they give 25% off your current provider. I said whats your best price, he said no 25% off current provider. I said thats not how I do business and put the phone down.
So can i get a better deal elsewhere? Paymentsense don't know who I am so I can ring them up again to try and do a deal.
Rob
0
Comments
-
I use Streamline but I have 50k going through each month so my rates will be lower (1.21% & 18p. £14.99 per month). If you are in a trade association or have a large supplier, they often have cheap deals. The FSB has a deal which may save enough money to pay for the membership. Yorkshire Bank / Clydesdale are meant to be competitive at the moment.0
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That does sound a very high rate...I agree a trade/group deal is the best route.
Does your current provider give an end of month breakdown of transactions? That can be useful as for example 95% of the cards I take are debit so that rate is much more important to me than the credit card rate.0 -
That does sound a very high rate...I agree a trade/group deal is the best route.
Does your current provider give an end of month breakdown of transactions? That can be useful as for example 95% of the cards I take are debit so that rate is much more important to me than the credit card rate.
Yes they do and ~70% of transactions are by debit card which surprised me given I always use my credit card. Mind you it also surprised me how many people still use cash for relatively large purchases.
I had a look at the FSB site and the card services through them and as with most providers nobody will quote fees up front. Even to get anecdotal charges on forums is unusual.
Rob0 -
We moved to Cardsave a few years ago to get lower rates. Might be worth a look
http://www.cardsave.net/0 -
Try.......
www.acceptcards.co.uk0
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