PDQ Machine Set Up Fees

baz2277

Hi all,

Alomst ready to launch my new garden centre business in the next few weeks.....

Sorting out many things at the moment including a Credit Card machine for payments. Does anyone have any experience of set up fees relating to pdq machines?

HSBC (My bank) have said £250 set-up for the machine, which to me seems a lot. I had a quick look on the forums here and barclays are £150.

Is it worth haggling or has anyone managed to get a good deal from HSBC?

Thanks in advance

Baz

bengalknights

Definitly haggle with them its one of those costs that they tend to back down on as in the long run its more profitable to them

phill99

There is huge competition in this market. You don't have to use your own bank. Type in 'merchant services' in to google and loads of options come up. Some don't charge a set up fee but a higher transaction charge. Your bank will be charging you a high set up fee and may well charge you a high transaction fee. I have seen charges as low as 1.9% for cc and 29p for dc.

It will pay you to shop around.

baz2277

I've met the rep today and he's offered 1.2% on Mastercard and Visa Credit and 15p for debits, with a min service charge of £15/month. Plus £24/month for rental of machine. He wasn't able to do anything with the £250 setup.

Also, there is a £3.50/month charge for being PCI compliant.

What does anyone think of this offer?

These rates are a little more than the previous people were paying but apparently are negotiable after 6 months.

railbuff

Try

http://sme.streamline.com/
http://www.cardsave.net ( free setup)

you dont need to go with your own bank as long as you have a merchant account with your bank

greyteam1959

Sounds expensive to me. I use these people so have a look here....
www.acceptcards.co.uk
HTH

phill99

baz2277 wrote: »

I've met the rep today and he's offered 1.2% on Mastercard and Visa Credit and 15p for debits, with a min service charge of £15/month. Plus £24/month for rental of machine. He wasn't able to do anything with the £250 setup.

Also, there is a £3.50/month charge for being PCI compliant.

What does anyone think of this offer?

These rates are a little more than the previous people were paying but apparently are negotiable after 6 months.

It's very high. You will be shelling out £510 a year. Plus in the first year another £250. That will come straight off your bottom line. That money can be better spent on advertising and promotion.

As others have said, search the market. You don't have to use your own bank for this. There are plenty of other companies around who will offer you a much better deal.

jkm2013

Hi all,

I'm also looking into merchant services and I'm getting £15+VAT tariff for a fixed PDQ machine, 3p basic transaction charge, plus either 16p for debit card or 1.49% for credit cards. Although there's no set-up fee, they are charging a minimum bill of £20 per month, which will be payable regardless of whether or not the transaction charges total that at the end of each month. And the contract is for 18 months.

Sounds a bit steep? What you think?