Card payment machines

[Mojo121 229]

Hi all,

I'm doing a bit of research into these; I've noticed the fees are now astronomical!

Over a year ago I had a pence per transaction setup on debit cards, I think it was 45p. Since some EU directive has kicked in it's now .45%, obviously this hits us hard! £2995 on a card now costs £13.40!

I've spoken to the provider and I can get it down to 0.33% on debit, which is still alot, but I wanted to know if anyone out there had found someone still offering a cost per transaction deal? Obviously we all share relatively high ATV (average transaction value) so this would be benefit to all of us.

[russp 10]

I had the same problem where I used to get charged 22 pence per debit card transaction.

They then changed it to 0.23% per debit card which was a lot more in fees.

I went to the trouble of checking every merchant provider and finally finding one that charged 0.25% per card but capped at 0.88 pence.

I left the old provider, moved to the new one and 3 months later they changed the terms again and said they could not do the cap at 0.88 pence any more.

When I challenged it they said I could move to another provider if I wanted without any notice fees (very helpful!)

So I ended up in a worse position after spending a lot of time moving and filling in application forms.

To my knowledge, no one is offering a fixed or capped price now for debit cards.

Sell a car for £15K and its nearly £40 to accept a debit card.

If anybody has found a provider with more favourable terms I would also be interested to know.

[Rory RSC 596]

Take deposits on card up to say £500 quid.

Bacs the rest or charge a 1% / 2% fee to cover costs in the short term.

The main problem I have with this is getting a transfer is fine if they leave a deposit today and want to come back at the weekend but when all your cars are ready to drive away today you just have to suck it up.

 

We are not going to be able to pass on any fees from next year either. 

[Max Branning 149]

Izettle have now reduced their commission to 1.75% on a transaction, this is both debit and credit card.

Although this is quite high on a debit transaction there is no contract or monthly fees so you are only paying when you actually do a deal.

I now push for bacs payment but if the customer insists on paying by card i add 2% fee (occasionally if the customer looks like they are walking i suck it up).

I do not charge anything on deposits and usually accept £200 to hold something.

 

[Jimbo 11]

Pass on the 2% fee to the client if they wish to use a card ... but ive heard law may be changing soon meaning you cant “add 2% to the purchase price” to cover card fees soon

[Allstars 1]

Theres plenty of loop holes, just call the 2% card fee an admin fee instead