| Posted by | Message |
TigerSpy 
LSU Fan
Baton Rouge
Member since Sep 2006
9740 posts
 Online
| re: Establishments that only take cash (Posted on 11/29/12 at 4:03 pm to mr. penguin)
They don't do it for ATM fees, they do it to launder money and tax evade.
|
| Back to top | |
bdevill
LSU Fan
Baton Rouge, LA
Member since Mar 2008
8212 posts
| re: Establishments that only take cash (Posted on 11/29/12 at 4:26 pm to Politiceaux)
quote:
What? .... debit card
read again..
And if you don't want to pay cash at places that only take cash.. just go somewhere else.. Or eat at home.
|
| Back to top | |
Politiceaux
LSU Fan
Big Lake, LA
Member since Feb 2009
12204 posts
| re: Establishments that only take cash (Posted on 11/29/12 at 4:29 pm to bdevill)
Differentiating between credit and debit cards when talking about cash only places is quite a moot point. quote:
And if you don't want to pay cash at places that only take cash.. just go somewhere else.. Or eat at home.
I pay cash when I have it or if I think about it on the way. I go elsewhere when I don't. That's not some grand breakthrough, Aristotle. The point was that business owners who don't take plastic are short-sighted.
|
| Back to top | |
bdevill
LSU Fan
Baton Rouge, LA
Member since Mar 2008
8212 posts
| re: Establishments that only take cash (Posted on 11/29/12 at 4:32 pm to Politiceaux)
Well if you'd read accurately, you're response might not be so defensive..
quote:
business owners who don't take plastic are short-sighted
Moron. 
This post was edited on 11/29 at 4:38 pm
|
| Back to top | |
Count Chocula
Yale Fan
Member since Feb 2009
40226 posts
Online
| re: Establishments that only take cash (Posted on 11/29/12 at 4:32 pm to mr. penguin)
quote:
Personally, it angers me that they're too cheap to pay the credit card processing fees
That aint it. The IRS cant track cash...
|
| Back to top | |
joeleblanc
Member since Jan 2012
302 posts
| re: Establishments that only take cash (Posted on 11/29/12 at 6:54 pm to Politiceaux)
quote:
I pay cash when I have it or if I think about it on the way. I go elsewhere when I don't. That's not some grand breakthrough, Aristotle. The point was that business owners who don't take plastic are short-sighted.
I beg to differ. know a po-boy shop in my town. Cash/check ONLY. Only way he has ever done business and has a VERY good business.
|
| Back to top | |
rbdallas
LSU Fan
The BGO Store
Member since Nov 2007
5267 posts
| re: Establishments that only take cash (Posted on 11/29/12 at 7:35 pm to joeleblanc)
when it is all said and done, in small business transactions, a place could me paying 4 - 5 % for that credit card fee-transaction fee-processing fee and monthly settlement fee.
for a marginal business that's a lot.
|
| Back to top | |
TIGRLEE
LSU Fan
Cenla
Member since Nov 2009
14690 posts
| re: Establishments that only take cash (Posted on 11/29/12 at 8:21 pm to mr. penguin)
Lose business.
Fact.
|
| Back to top | |
TigahRag 
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
122331 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 7:08 am to Y.A. Tittle)
quote:
So, his business is doing really well?
Considering it is around 2 to 2.25% per swipe with a master card processor, that's around $3.5 million in JUST MC sales ..
Somebody's bullshiteting somebody ..
This post was edited on 11/30 at 7:09 am
|
| Back to top | |
saderade 
New Orleans Saints Fan
America's City
Member since Jul 2005
19785 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 8:10 am to joeleblanc)
quote:
beg to differ. know a po-boy shop in my town.
Thats the difference between a town and a city. Unless the poboy place is so much better than the competition, I don't want to stop at the bank to get cash. I can find any number of places that will not require me to stop and get cash
|
| Back to top | |
notiger1997
Member since May 2009
17331 posts
Online
| re: Establishments that only take cash (Posted on 11/30/12 at 8:29 am to saderade)
quote:
Thats the difference between a town and a city. Unless the poboy place is so much better than the competition, I don't want to stop at the bank to get cash. I can find any number of places that will not require me to stop and get cash
Bingo.
I can find hundreds of great places that will take my card that serve damn good food.
|
| Back to top | |
nwacajun
LSU Fan
whitey mecca NW AR
Member since Dec 2008
41 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 8:39 am to LSUAfro)
you have no clue what you are talking about
|
| Back to top | |
yellowfin 
Illinois Fan
Paige is Pretty
Member since May 2006
53066 posts
Online
| re: Establishments that only take cash (Posted on 11/30/12 at 8:52 am to nwacajun)
quote:
you have no clue what you are talking about
what percentage of your sales are mastercard? what percentage do you pay them?
|
| Back to top | |
TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
122331 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 8:57 am to BRgetthenet)
quote:
He's not doing 10 mil in sales, I know that.
My guess would be between 2-3, and that would put him around that 75K mark.
So I don't think that was b.s.
so when you say master card, you actually mean all credit cards .. correct ?? i.e. that $75K figure includes VISA, Discover, and American Express too ? Depending on the type of business, I could see a good one doing a gross of $3 million+ ..
|
| Back to top | |
TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
122331 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 8:59 am to bdevill)
quote:
If you have to use a credit card to eat, you don't deserve to eat.
i am sure most people are referring to debit cards and not credit cards .. hopefully ..
|
| Back to top | |
TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
122331 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 9:06 am to nwacajun)
quote:
you have no clue what you are talking about
which part are you referring to ?? because he hits it on the head on all points ... you pay between 2 and 3% on individual VISA, Master Card, and Discover swipes .. and between 3 and 4% of AMEX swipes to your credit card processor plus about a .35 per day close fee ... when he says master card accounts for about 1/3 of their sales, i assume he is referring to solely master card and not all cards ... so if this guy is paying his processor $75K a year JUST for master card transactions .. that is around $3.5 million (give or take) a year gross in JUST master card sales .. his $10 million figure is taking the other three cards into account ...
eta: if this is a restaurant we are referring to .. and it is a medium to high end place, $3.5 million basically equates to 539 table turns a week at an average of $125 a table .. that's a LOT of turns on the high end too ..
This post was edited on 11/30 at 9:11 am
|
| Back to top | |
BRgetthenet
New Orleans Saints Fan
Member since Oct 2011
23699 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 9:11 am to TigahRag)
When this thread started, I jumped in it because the person I know threw that figure out once while we were about to pick up the check at another restaraunt.
It has to have been total credit card sales. I could see them doing north of 2.5 mil.
|
| Back to top | |
notiger1997
Member since May 2009
17331 posts
Online
| re: Establishments that only take cash (Posted on 11/30/12 at 9:38 am to BRgetthenet)
I thought he already confirmed that it was total credit card sales.
|
| Back to top | |
TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
122331 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 9:52 am to BRgetthenet)
quote:
When this thread started, I jumped in it because the person I know threw that figure out once while we were about to pick up the check at another restaraunt.
It has to have been total credit card sales. I could see them doing north of 2.5 mil.
i can see him doing that much in total credit card sales .. that makes sense ... but is this a restaurant ? or some other type of bigger average ticket business ?
|
| Back to top | |
TigahRag
Texas A&M Fan
Sorting Out OT BS Since 2005
Member since May 2005
122331 posts
| re: Establishments that only take cash (Posted on 11/30/12 at 9:53 am to notiger1997)
quote:
I thought he already confirmed that it was total credit card sales.
i see where he did it now .. that's my bad ..
|
| Back to top | |
