Quidco - BACS payments now free

GromitFan

Hi there.

Not 100% sure if this is the correct forum, but couldn't think of a better one and as people discuss quidco, etc on this forum decided to post here, but feel free to move it if it's in the wrong forum. Also, hope it hasn't been posted before, but don't remember reading it.

Anyway, I've just been on the quidco website and just read that as of 23rd May BACS payments are now free - used to be charged 5p per BACS payment.

The following is taken from Quidco website:
"BACS payments now free!
May 23rd, 2007
When we first launched direct bank payments (BACS) a year ago we put a 5p fee on them to make sure we could afford to offer this service to members on a large scale. The per transaction bank fee on mass BACS payments is quite high (regularly about 20p) but at the time we mentioned that if enough Quidco members would use the service we may be able to reduce the costs. We play things pretty conservatively here at Quidco as we have pretty thin margins and want to make sure that any service or fees we have are stable and not flip-flopping back and forth.

So finally we’re happy to say that we’re able to take off the 5p fee on BACS payments so that they are now completely free! This is now definitely the best option for all Quidco members as it is much faster than PayPal echeques (3-5 days compared to 10-15) and also there is no chance of PayPal charging you a fee. Most of our members are already using BACS but we strongly recommend any members remaining on PayPal to change their option to BACS instead.

Also, in order to keep things as efficient as possible we are going to cap the PayPal payments at £50 - if you have more than £50 to be paid please select the BACS option. "

HTH.