Nick 2 Posted November 9, 2015 Hi Guys.As a newbie I was just wondering how you take payments if you are a part time trader from home? Cash? Bank transfer? Or do you buy/rent a chip & pin machine? Car values would range from £4000 to £8000 if that makes any difference?Cheers,Nick Share this post Link to post Share on other sites
Max Branning 149 Posted November 9, 2015 All 3 of the above work. Depends really how the customer prefers to pay. I think most buyers would be a bit wary turning up to someones house with 8 grand in their pocket though. Would be worth investing into a credit card terminal to look a bit more professional. Share this post Link to post Share on other sites
RJ Magpie 3 Posted November 9, 2015 regarding trading from home and card payments, I'm using iZettle and that's pay as you go. you just need a smartphone and card reader which u buy from them they charge 2.75% or less. It may look dodgy to some customers though Share this post Link to post Share on other sites
Nick 2 Posted November 9, 2015 Thanks guys. Yeah 8 grand cash doesn't look professional, agreed. RJ ill look into iZettle but 2.75% is quite steep. Aint easy is it. What about smart phone banking? Phone to phone banking. I just sold my cbr600rr £5100 and we did the transaction like that, so so easy. But I guess if a 70 year old woman turns up maybe she wouldn't get it? More research needed or pay the price for a chip and pin machine. Need to see their prices. Cheers. Does anyone use this company chipandpinsolutions.co.uk? Im sure you bigger dealers do or similar. What would I expect to pay for a year's agreement? Or do they work on a percentage per transaction basis?Thanks againNick Share this post Link to post Share on other sites
Max Branning 149 Posted November 10, 2015 You can rent a terminal for less than £40 a month depending on what type of machine. Commission is payable on each transaction but it is very small on Debits and around 2% on Credits which you can pass on. Usually a minimum monthly charge even if you dont use the machine i know ours is £25. Share this post Link to post Share on other sites
Rosemotors 31 Posted November 10, 2015 When I opened I had the card company that my bank recommended to me come and see me. But they wanted a business plan, which surprised and irritated me (there's zero risk to them, so why did they need it?).In the end I went with WorldPay. Easy & competitive. Share this post Link to post Share on other sites
Jack Regan 116 Posted November 10, 2015 Card machines..... Punter drives off in your car while you got to wait 3 days for funds to clear ... £5000 car they pay a deposit of £100 pound by credit card, they start whinging about car and get totally unreasonable, credit card company can do a charge back and take the whole £5000 off you ! Share this post Link to post Share on other sites
Rory RSC 596 Posted November 10, 2015 Card machines..... Punter drives off in your car while you got to wait 3 days for funds to clear ... £5000 car they pay a deposit of £100 pound by credit card, they start whinging about car and get totally unreasonable, credit card company can do a charge back and take the whole £5000 off you ! our card payments are with us the next working day. No one has charged back a car we have sold. Share this post Link to post Share on other sites
Jack Regan 116 Posted November 10, 2015 I never said they did... Just saying it can happen . 1 Share this post Link to post Share on other sites
Max Branning 149 Posted November 10, 2015 Has anybody here ever had a chargeback done to them? I havent but have always wondered how the process works and how easy it is for a customer to do this? Share this post Link to post Share on other sites
Tom 164 Posted November 10, 2015 More details on section 75 chargeback http://www.thisismoney.co.uk/money/cardsloans/article-2605929/Find-rights-credit-card-refund-Section-75.html 1 Share this post Link to post Share on other sites
Nick 2 Posted November 10, 2015 When I opened I had the card company that my bank recommended to me come and see me. But they wanted a business plan, which surprised and irritated me (there's zero risk to them, so why did they need it?).In the end I went with WorldPay. Easy & competitive.Been looking at worldpay. Yeah wouldn't want the hassle of someone needing to come out to my house, just unnecessary... Card machines..... Punter drives off in your car while you got to wait 3 days for funds to clear ... £5000 car they pay a deposit of £100 pound by credit card, they start whinging about car and get totally unreasonable, credit card company can do a charge back and take the whole £5000 off you ! Can I ask what you use then? Cash only? smartphone to smartphone as in bank transfer? Share this post Link to post Share on other sites
Jack Regan 116 Posted November 10, 2015 Prefer cash..... We will take a cheque etc, obviously subject to clearing, we do take cards as well , charge punter 3% , normally puts em off using it, there is a cash machine in shop next door to us which is handy so they can go and get their dipper from there.I mentioned the charge back with a credit card as none of us have got a crystal ball , we don't know if a car will go wrong or the punter will turn into a complete aresole, it's just another thing that could cause you a headache. Share this post Link to post Share on other sites
Steve92 80 Posted November 10, 2015 Had a charge back this week (also had a few in a mail order company where elderly people forgot they had purchased something .this one related to a deposit they placed then on day of collection they backed out, they had filled out the finance forms found nothing wrong with the car etc. The card company - well in this instance write to you and give you chance to respond or defend. Share this post Link to post Share on other sites
