Card processing fees

cally6008

We are currently with Barclaycard taking £10-£11k a month

We would like to get our fees down and see who has good deals but also good provider

Thank you

martindow

Card processing fees are negotiable and it may be worth contacting them, hinting that you are thinking of leaving to see what they will offer.  Any offer of lower rates will probably involve you being tied in to a new fixed period.

It may be worth contacting other companies first to see what their rates are to help you negotiate.

Retirebefore50

I used izettle before (card reader 1.75% or via secure link at 2.75%).

I've now switched to Stripe which is 1.4% for secure link (UK cards). This is via Monzo bank, which has a good interface to create and send the link via their app. Else my clients pay bank transfer (free). I switched for the fee saving and it works fine. I only need to download receipts for bookkeeping directly via stripe per transaction (or they also email a copy invoice for fees per month. I.e. total not per tranx).

They have a none UK option at 2.9% but I won't be using it.

martindow

Retirebefore50 said:

I used izettle before (card reader 1.75% or via secure link at 2.75%).

I've now switched to Stripe which is 1.4% for secure link (UK cards). This is via Monzo bank, which has a good interface to create and send the link via their app. Else my clients pay bank transfer (free). I switched for the fee saving and it works fine. I only need to download receipts for bookkeeping directly via stripe per transaction (or they also email a copy invoice for fees per month. I.e. total not per tranx).

They have a none UK option at 2.9% but I won't be using it.

This is a good option for traders like me who don't do very many transactions. 

For the OP turning over £10k a month, a contract probably would be better, even though it is likely to have a monthly standing charge.  This is particularly true regarding debit card payments which would be a few pence per transaction rather than a percentage.