Automotive Discussion

Back to Forum

Post a Response

Credit and debit card rates #

Posted by John Wallis on November 5, 2013, 9:17 am
Edited by board administrator November 9, 2013, 3:50 pm

Dear all

We've just received a statement to say our costs are going to rise on credit and debit cards. We are currently with card save and would appreciate your input regards what are the best rates/company to try. In these tough times we need to be watching every penny.

Below are the rates we are paying at the moment

Credit Cards

Visa Credit 1.27%
Mastercard 1.27%
Maestro int 1.27%
JCB Commercial 1.92%

Debit cards

Visa Debit 0.13%
Mastercard debit 0.13%
Electron 0.13%
Maestro Dom 0.13%
Solo 0.13%

Kind regards

John Wallis

Western Way Garage
Darras Hall
Ponteland
Newcastle upon Tyne
NE20 9TN
Tel 01661 824421

Re: Credit and debit card rates

Posted by Russell Davey on November 5, 2013, 11:26 am, in reply to "Credit and debit card rates"
Andy Davey

Interesting that you get charged a percentage for the debit cards.

For instance, I just checked my last statement and we took £13,607.07 via debit cards last month which would cost us £17.69 via your method. Instead, we get charged 0.19p per debit transaction (64 purchases) which totalled £12.68.

The credit card charges are about right though, we pay 1.25% with Streamline http://www.streamline.com/

Russ

Re: Credit and debit card rates

Posted by John Wallis on November 5, 2013, 12:27 pm, in reply to "Credit and debit card rates"

Thanks for your reply Russell Sorry it's only a percentage on the credit cards the debit is fixed at £0.13

Cheers

John

Re: Credit and debit card rates

Posted by Russell Davey on November 5, 2013, 1:32 pm, in reply to "Re: Credit and debit card rates"

Well in that case you've got nothing to moan about then, have you?

Re: Credit and debit card rates

Posted by John Wallis on November 5, 2013, 3:25 pm, in reply to "Re: Credit and debit card rates"

Well it seems it's worth moaning we have got our Credit cards down to 1.15% and the Debit cards down to £0.12

JW

Re: Credit and debit card rates

Posted by Russell Davey on November 5, 2013, 3:32 pm, in reply to "Re: Credit and debit card rates"
Andy Davey

Nice one - Good result that!

*dials streamline customer services*

Re: Credit and debit card rates

Posted by Steve Sneap on November 5, 2013, 5:01 pm, in reply to "Re: Credit and debit card rates"
Stephen Sneap

The problem with changing is the cancellation fees that are hidden in the small print .When we changed from RBS to Cardsave through the federation of small business*s RBOS tried to charge us £600, ,,,£300 to cancel taking card*s and £300 for the machine. After much haggling ended up paying them Â£100 to go away. I now read the small print very carefully on everything.
Steve Sneap

Re: Credit and debit card rates #

Posted by Paul A. Potter on November 28, 2013, 7:02 pm, in reply to "Credit and debit card rates #"
Paul Potter

Evening all,

when discussed a few year ago, very few members were
charging customers a %fee for using a Credit Card.

Is that still the case ? Do you charge a fee or just absorb it ?

We have never charged but a £500 - £1000 invoice is becoming more common and at our current rate
( 1.57% - need to negotiate better )that is a lot of money over 12 months.

Reply's appreciated,
Paul

Re: Credit and debit card rates #

Posted by Graham Bullock on November 28, 2013, 9:19 pm, in reply to "Re: Credit and debit card rates #"
Graham Bullock

I charge 2% on invoice total for credit cards but nothing for debit cards, this usually makes the customer put the credit card away and get the debit card out.

Never had anybody complain as I am just passing the card company charges on to the customer so it is the customers choice either pay the charge or use a debit card.

Graham

Re: Credit and debit card rates #

Posted by aidan birley on November 28, 2013, 10:50 pm, in reply to "Re: Credit and debit card rates #"
Aidan Birley

Paul

How would you feel if asked to pay extra credit card charge on a Â£800 purchase ?

You have then answered you own question

Cheers Aidan

Re: Credit and debit card rates #

Posted by Andy Mason on November 29, 2013, 8:47 am, in reply to "Re: Credit and debit card rates #"
Andy Mason

Is'nt it an overhead like your electric or insurance,which should be absorbed in your hourly rate?
I would be worried about how its perceived to suddenly add an additional charge, unless your completely up front when taking the job on.
Would you ask how they are paying when quoting over the phone and then add that charge on?
We point blank refuse to accept American Express, although some of them these days dont look like an Amex card, but you know when the charges come through.
Andy

Re: Credit and debit card rates #

Posted by Graham Bullock on November 29, 2013, 11:37 am, in reply to "Re: Credit and debit card rates #"
Graham Bullock

I disagree,

I don't think of credit card charges as an overhead, it is something that a particular customer is wanting to have when he/she could avoid it by paying by a different method.

If you was going to pay by debit card why should you have to absorb some of somebody else's credit card fees that have been included in the labour rate?

When all is said and done it is that customer who is wanting free credit until the month end, why should you or I fund his credit?

Graham

Re: Credit and debit card rates #

Posted by Andy Mason on November 29, 2013, 3:56 pm, in reply to "Re: Credit and debit card rates #"
Andy Mason

Unfortunatlely you pay to accept and pay in cash as well as cheques (if you still accept them)so are you charging a transaction charge for accepting cash.
We dont, its an overhead.
If we charged additionally for all the incidentals we would need a bigger wall for all the terms and conditions.
I'm not saying its wrong, its just what we do.
Andy

Re: Credit and debit card rates #

Posted by Michael Whitworth on November 30, 2013, 2:33 pm, in reply to "Re: Credit and debit card rates #"
Mike Whitworth - Administrator

WRT Credit Cards, We charge a surcharge on CC payments.

I can't remember anyone complaining, but it does make a lot of them suddenly realise they also have a debit card.

We refuse to take Amex due to the cost.

Mike

Amex Cards

Posted by Peter Warman on December 11, 2013, 8:41 am, in reply to "Re: Credit and debit card rates #"
Peter Warman

We now take Amex cards

This was added to our terminal last month, the charge is 1.99% per transaction, no set up fee or monthly bill they simply deduct the 1.99% from the transaction before it is credited to your account 5 days later

Keeps the high flying customer happy as they can claim the air miles

Credit card charges are something you have to work into your hourly rate or parts mark up. We have not taken a cheque for about 5 years and vary rarely accept cash if customer has a bank debit card available. If it's a big bill we ask if it can be a debit card as it's only £00.20 per transaction

We get free banking, but do get charged to deposit a cheque or cash.....so swings and roundabouts realy

Peter

« Back to index

[ Automotive Discussion ]

Copyright © uk autotalk