MyPalAl 2 Posted February 19, 2018 Hi all, I have been with Barclaycard for my card machine, taking debit and credit card payments, for 12 years, and recently received a letter saying all their charges are changing. The reason I have stayed with them for so long is that I bank with Barclays, and their payments hit my bank in 2 working days rather than what I believe to be the normal 3 days. Question is, do any other card providers offer 2 day payment? Cash flow is important so I would rather pay a little bit more to have the comfort of the 1 day quicker payment, but Barclaycard predict I will be paying £35 a month more with their charges. Any advice would be gratefully appreciated. Many thanks. (PS, I have also posted this in the FAQ section in error!) Share this post Link to post Share on other sites
AutoJacob 34 Posted February 19, 2018 We use PayPal, cash arrives in our account instantly and then we're able to transfer it into our bank account, again instantly At first you have a £2K restriction per 7 days, anything after the £2K is held for 21 days and then released. However they review the restriction after you have exceeded the £2K and increase it (in our case it is £6K every 7 days). Have a look at it as the all singing all dancing PayPal card reader is only £70 with no monthly commitment. Share this post Link to post Share on other sites
grant8064 219 Posted February 19, 2018 Worldpay for us. I'll get shot down because there's cheaper out there for sure but it works reliably. Share this post Link to post Share on other sites
Screenman 47 Posted February 20, 2018 Worldpay here as well. Share this post Link to post Share on other sites
MyPalAl 2 Posted February 20, 2018 Thanks for your replies. Are Worldpay 2 or 3 day payments? Share this post Link to post Share on other sites
Ocsltd 133 Posted February 20, 2018 I was with Barclaycard, now with Worldpay, takes the same amount of time for funds to reach account. No regrets. 1 Share this post Link to post Share on other sites
trade vet 704 Posted February 20, 2018 Card machines/processors....I am out of touch,can any of you guys tell me if you have a system where every card payment you receive can be individually referenced to make accounting easier ? Share this post Link to post Share on other sites
MyPalAl 2 Posted February 20, 2018 I am old school. I just record each transaction on an Excel spreadsheet. Share this post Link to post Share on other sites
Screenman 47 Posted February 21, 2018 20 hours ago, trade vet said: Card machines/processors....I am out of touch,can any of you guys tell me if you have a system where every card payment you receive can be individually referenced to make accounting easier ? Yes it can, I just go online and login to Worldpay to see any transactions listed. Share this post Link to post Share on other sites
D7neo 5 Posted February 21, 2018 what percentages are you guys paying for card payments? Share this post Link to post Share on other sites
EPV 631 Posted February 21, 2018 1 hour ago, D7neo said: what percentages are you guys paying for card payments? 1.4% + 20p flat across all car types including Amex. I use Stripe, don't have a card reader, just an app on my phone where the customer can input their card details and wallop, it's in my stripe account and i can email a receipt straight to them. I also try and steer people towards cash or BACS, depending on the type of person I'm dealing with. Share this post Link to post Share on other sites
MattR 177 Posted February 21, 2018 Ive decided to change and encourage customers to do bank transfers to reduce costs. Ill take a card if I have to, but in the last month not had one person complain about doing a bank transfer. Money there instantly, thats the best cashflow! Share this post Link to post Share on other sites
SC Derby 259 Posted February 21, 2018 7 minutes ago, Matt Reid said: Ive decided to change and encourage customers to do bank transfers to reduce costs. Ill take a card if I have to, but in the last month not had one person complain about doing a bank transfer. Money there instantly, thats the best cashflow! Exactly our method Share this post Link to post Share on other sites
MrC 142 Posted February 21, 2018 Bank transfer every time for me. Share this post Link to post Share on other sites
trade vet 704 Posted February 21, 2018 11 hours ago, Screenman said: Yes it can, I just go online and login to Worldpay to see any transactions listed. Thank you for that..Screenman 1 Share this post Link to post Share on other sites
bcars 0 Posted February 22, 2018 On 21/02/2018 at 0:54 PM, MrC said: Bank transfer every time for me. Yes agreed, our average sale value is £28,000 and we only accept bank transfer, although I have a paypal here machine to take up to £500 deposit if required. We have an FCA license which gives some customers some comfort, however I say to customers who are limited to the £10k per day transfer limit then split it over 2 or 3 days before handover. Very few moan about paying before getting the car but I do point out to the few that are nervous how they pay for their holiday before walking up the steps to the plane, if I ever get anyone who is uncomfortable I just say they are our terms of business and if you don't trust us then please don't buy a car from us, simple! Share this post Link to post Share on other sites
MrC 142 Posted February 22, 2018 I had a customer earlier this week come to collect his camper and pay the balance.. £22500 transferred on his phone! I thought there is no way this is going to go through but 2 seconds later Im rich! Share this post Link to post Share on other sites
A & S 20 Posted February 22, 2018 World pay for us aswell, money is in our account in 2 working days, used have the money first thing on the 2 working day now its in our account mid afternoon usually between 3pm and 4pm. We also steer payments by bank transfer as debit and credit cards are now charged at a percentage. Try to take deposits only by card. Share this post Link to post Share on other sites
