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    • curtis122
    • By curtis122 19th Jul 17, 6:04 PM
    • 59Posts
    • 17Thanks
    Card processing fee
    • #1
    • 19th Jul 17, 6:04 PM
    Card processing fee 19th Jul 17 at 6:04 PM
    I have read they are scrapping these come Jan next year but annoyingly I have to pay the outstanding charge for my holiday before then.

    Their charge is 2% the total amount. As the outstanding amount to be paid is 6k that will be a charge of 150 this cannot be how much it cost to make a process a transaction charge.

    It does not say anywhere 'up to' a certain amount for the charge so I'm assuming this will be what I will have to pay ! Is this correct can they do it on the whole amount?
Page 2
    • molerat
    • By molerat 10th Sep 17, 8:37 PM
    • 18,955 Posts
    • 13,151 Thanks
    Very altruistic not passing on the full amount of the fee to the customer. I am sure you would much rather be paid in cash because that is absolutely free to handle
    • chattychappy
    • By chattychappy 10th Sep 17, 8:53 PM
    • 6,839 Posts
    • 3,715 Thanks
    Very altruistic not passing on the full amount of the fee to the customer. I am sure you would much rather be paid in cash because that is absolutely free to handle
    Originally posted by molerat
    Well, at least cash won't be chargedback because the consumer throws a wobbly.
    • phillw
    • By phillw 11th Sep 17, 9:42 AM
    • 1,307 Posts
    • 901 Thanks
    The European Commission capped these fees over a year and both credit and debit cards are now (or should be charged as %)
    Originally posted by Parnott
    No, the European Commission capped the interchange fees. Not the merchant fees.

    then it's you being ripped off by your card processing company, considering anyone can get rates at 0.699% for credit cards and 0.499% for debit cards, and 50 for a terminal? christ, talk about getting dry humped
    Originally posted by tastyhog
    If you take a couple of credit card payments a month and pass the costs onto your customers

    "From 12.50 +VAT Per Month 25.00 Set Up Fee
    From 9.99 +VAT Per Month
    From 16.75 +VAT Per Month
    From 18.50 +VAT Per Month"

    Then those fees could still be pretty high (they are "From", with no indication of how that is calculated).
    Last edited by phillw; 11-09-2017 at 9:50 AM.
    • chattychappy
    • By chattychappy 11th Sep 17, 10:16 AM
    • 6,839 Posts
    • 3,715 Thanks
    There can be other "costs" as well...

    1) Chargeback... With cash/bank transfer, if the consumer has a claim which can't be resolved amicably, then they must prove their case in a court of law before you must pay out. If you've taken a credit card, you are at the mercy of a CC which tends to be consumer biased, particularly for cardholder-not-present transactions.

    2) Money laundering checks.... a friend's business had a number of payments suspended without warning. He was asked to provide all sorts of documentation to prove that the transactions were genuine and within the terms of his agreement. After a large paperwork shufffle (and thanks to some cooperative customers) the matter was "mostly" resolved. But they withheld one payment, returning it to the consumer, because they said it was outside the agreement. (Somebody had bought some stuff from his shop and at the same time paid a deposit for a special order. The deposit element was rejected.)

    In fact, everyone I know that takes CCs has had some kind of compliance issue. You only need one or two problems to push the real "cost" of acceptance up a few percent.
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