Debit Card Charges...... How have yours changed?

[Craig F 0]

Firstly may I say that as a small independent dealer the level of information provided by Car Dealer Magazine and also it's motor trade contributors I am finding increasingly valuable. I think it's very easy as a small business to get cut off from things that are going on in the outside world and also when the chips are a little down difficult to find some inspiration to kick on and get going and make the relevant changes needed to keep your business abreast with whats going on.

Now onto my point/question.... For five and a half years I have been used to a debit card service charge from my merchant provider of around 18 pence per transaction. This is regardless whether the amount is a £500 deposit or a £20,000 balance. This fixed 18 pence amount as of the first of April has changed to a percentage amount of in my case 0.4% of the balance paid. Meaning that if I take £100,000 of Debit Card payments in a month say split into 10 transactions of £10,000 my previous bill of £1.80 has now increased to £400. Surely this can't be right and I'm hoping that others in the industry have also found this and would love to know what course of action they have taken?

Thanks in advance for your guidance.

Craig

[James Baggott 227]

Craig

Glad you like Car Dealer and sorry no one has come back to you on this one. I'm afraid it's beyond me, but hopefully someone here will help you