Garage can't take credit card

rtho782

It annoys me when retailers whine about card processing costs, this is not 1990, you can take card payments for a £30 one off fee for a reader and less than 2% fee.

Biggles

rtho782 wrote: »

It annoys me when retailers whine about card processing costs, this is not 1990, you can take card payments for a £30 one off fee for a reader and less than 2% fee.

So, quite a lot more than cash, then? I think you've made their point.

trailingspouse

But banks often charge for cash deposits in to business bank accounts, and you are at more risk of theft if you have cash on the premises. 2% is a bargain.

Biggles

trailingspouse wrote: »

2% is a bargain.

It's twice what banks charge to deposit cash (that's cash net of petty cash expenditure, which can't be taken out of your card reader). I don't call that a bargain.

rtho782

Biggles wrote: »

So, quite a lot more than cash, then? I think you've made their point.

It scales with usage though, put £10k a month through (which any garage with more than a couple of employees would) and it's 1.54% for iZettle.

If you bank with Barclays, their mixed payment plan is 0.9% for cash deposits, their e-payments plan 1.5% for cash deposits.

It's not far off the same, it's a cost of doing business.

Shakin_Steve

Would a business proprietor, who was taking cash for, say one day a week and not declaring it, actually pay the cash into their business account? Or use it for spending money, or pay it into their personal account?
No charges incurred for blowing it on a night out.