Credit cards

[Evans Electric]

Remember before reading this  that there is no such thing as a free diner ...or ...you get nowt for nowt in this world ...and  everything is actually paid for by the British public , you & me ... free bus passes ,  the National Health Service  , barmy ideas by local councils   etc etc etc  .

Free credit when using your card ?

Apparently  the store , supermarket etc  pays a fee to the credit card company  when its used in their store  , that I presume is how they exist .

On the premise that that cost will be built into the customer's bills  ........should there be a rebate if we pay cash  ?     Is this fraud ?  

" Paying by cash Sir ?   That'll be £20   and theres a percentage  hidden in that charge which goes to the credit card companies ...thank you for shopping with us  & for not complaining about ripped off "   

 

[NozSpark]

A law was passed in the last year or so that stops companies charging more for credit card sales,,, so they wouldn't be able to discount for cash

I had a wholesaler complain to me a few years ago for paying for something with cash!!! he said that it cost him to pay it in,,, I reminded him that I was a lot better than any of his account customers as I paid for stuff as I took it and not, up to, 60 days later

 

[Evans Electric]

So the retailer is paying the credit card companies  NOT us  !!!!     I bet they still built in a rise in sales to cover it .  

he said that it cost him to pay it in,,, I reminded him that I was a lot better than any of his account customers as I paid for stuff as I took it and not, up to, 60 days later

This is how crazy the system is these days .    Your guy has no cash flow problem with your sales  as you paid there & then  but  the norm is now  credit card or 60 day  account  .   

My garage  raised a similar thing when I produced my cheque book  to pay for repairs  .      He said , which I understand ,   he has to physically go to a branch to pay cheque in  which costs him time & money , THEN the bank charges  him to process the cheque  .   

 

[binky]

I pay in cheques by postal service - no charge! 

 

[Murdoch]

So the retailer is paying the credit card companies  NOT us  !!!!     I bet they still built in a rise in sales to cover it .  

This is how crazy the system is these days .    Your guy has no cash flow problem with your sales  as you paid there & then  but  the norm is now  credit card or 60 day  account  .   

My garage  raised a similar thing when I produced my cheque book  to pay for repairs  .      He said , which I understand ,   he has to physically go to a branch to pay cheque in  which costs him time & money , THEN the bank charges  him to process the cheque  .   

My business account is with lloyds and I pay cheques in using the APP on my mobile phone ........

 

[NozSpark]

My business account is with lloyds and I pay cheques in using the APP on my mobile phone ........

I'm with Barclays and do the same.... (for cheques for < £500)

I do try and resist cheques though as I use iZettle to take card payments

 

[Andy™]

" Paying by cash Sir ?   That'll be £20   and theres a percentage  hidden in that charge which goes to the credit card companies ...thank you for shopping with us  & for not complaining about ripped off "   

what about the additional chargers for cash? has to be counted which takes time. has to be sent to bank which takes time or pay a cash transport company to do it. then the bank charges for paying in cash...  maybe the credit card customers should be getting a discount because their overall charges is less?

 

[SPECIAL LOCATION]

I'm with Barclays and do the same.... (for cheques for < £500)

I do try and resist cheques though as I use iZettle to take card payments

How long have you been using IZettle Noz??

Do you have to take out any type of contract to use it?

And/or any other charges per transaction etc....?   :C Guinness

 

[Murdoch]

I'm with Barclays and do the same.... (for cheques for < £500)

I do try and resist cheques though as I use iZettle to take card payments

I find that BACs payments settle the vast majority of my invoices ....... so that makes things easier.

 

[SPECIAL LOCATION]

I find that BACs payments settle the vast majority of my invoices ....... so that makes things easier.

At a guess somewhere around 70% to 80% of my customers pay by BACS..

With the remainder being more cash than cheques...

Don't recall many people actually asking if they can pay by card???

:C

 

[Murdoch]

Don't recall many people actually asking if they can pay by card???

snap

 

[NozSpark]

How long have you been using IZettle Noz??

Do you have to take out any type of contract to use it?

And/or any other charges per transaction etc....?   :C Guinness

I've had it 2 or 3 years.... you just buy the reader and then a transaction fee of 1.75% is deducted from your payment which should be in your account in 3 working days after the transaction.

The main thing is that there are no monthly charges and that you don't need to have merchant account..... the card readers don't print a receipt though so you either have to email it or handwrite one ensuring that you put the last 4 digits of the card number on it

Don't recall many people actually asking if they can pay by card???

:C

TBH I haven't used it since June, but just took over £700 through it in 2 days..... go figure! ..... much prefer BACS though

 

[Evans Electric]

Just to diverge slightly  , I recently purchased  a "Blackout"  card   to prevent cards being scanned ,  just slot it in among your cards , stops all the scanning  I am assured.   

 

[Geoff1946]

Just to diverge slightly  , I recently purchased  a "Blackout"  card   to prevent cards being scanned ,  just slot it in among your cards , stops all the scanning  I am assured.   

Surely that will just be a piece of aluminium foil?

I cut a piece from an aluminium food dish and put it in a spare pocket next to my cards.  

 

[Evans Electric]

I thought the same  Geoff  ,  the missus bought a metal cased card holder  .      These things have some sort of chip in them  and just need to be amongst  the cards .    From all I can discover they are genuine  .     

 

[Tony S]

The Nasty West introduced charges for cheques 45 years back. They found themselves with no customers. I moved my business and personal accounts elsewhere.

I now get better interest on my current account than my savings account….?