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re: Restaurants charging 4% for using credit card
Posted on 3/19/22 at 3:29 pm to lsujag
Posted on 3/19/22 at 3:29 pm to lsujag
Not sure why a restaurant would do it but… LA law states the business can pass on the credit card processor fee to the customer as long as
1. It’s a separate line item on the receipt
2. Fee does not exceed actual surcharge.
ETA. Each state sets their own laws surrounding this. But never pay more than the percentage. 4% is usually what it’s around. Had someone try to charge me 20% for cc transaction. Didn’t but their product and told them it was illegal.
1. It’s a separate line item on the receipt
2. Fee does not exceed actual surcharge.
ETA. Each state sets their own laws surrounding this. But never pay more than the percentage. 4% is usually what it’s around. Had someone try to charge me 20% for cc transaction. Didn’t but their product and told them it was illegal.
This post was edited on 3/19/22 at 3:32 pm
Posted on 3/19/22 at 8:28 pm to lsu1919
quote:
But never pay more than the percentage. 4% is usually what it’s around.
If any business is paying 4%, they need to get another processor. I pay either 2.3% or 2.7%, depending on whether the card is present. I also don’t pay a per item fee like some processors charge.
I look at credit card fees as just another cost of doing business — no different than all the other operational costs that I factor into my pricing. I don’t charge a “convenience fee” for credit card usage just like I don’t charge a convenience fee for my utility bills, insurance, rent, etc. I also want to make it as easy as possible for people to do business with me — I consider convenience fees to be inconvenient and try to avoid businesses that charge them. It’s just a lazy way to run a business rather than taking the time to understand your costs and setting your prices accordingly.
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