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Started By
Message
re: Credit card processing fee
Posted on 8/24/18 at 8:59 pm to Wayne Campbell
Posted on 8/24/18 at 8:59 pm to Wayne Campbell
quote:
Tha frick kind of grammar is this triple negative shite?
Just trying to fit in with the baw culture.
1
Posted on 8/24/18 at 9:10 pm to FLTech
quote:
Because there are 30 other service companies in our very small market who are whoring the shite out it with selling extremely cheap products and services
Posted on 8/24/18 at 9:11 pm to Bmath
Most customers are in debt and can't afford to pay cash for everything. You are free to only accept cash if you want. There are not many companies open to the public that can get away with that.
Posted on 8/24/18 at 9:55 pm to FLTech
Someone has to pay for those rewards programs. You didn’t think the CC companies or the processors paid that did you? In all seriousness it is ridiculous what they skim off the top. A better alternative should be found.
Posted on 8/24/18 at 9:58 pm to Pecker
I’m all for capitalism and free market. The point of my thread is for ideas and pointers how to beat my competition with this shitty credit card processing fee that I am having to pay each month. That’s called capitalism. I’m game for it.
I know you wanted to flip the switch on me with some anti trump/republican bullshite but I was never with HER. It just wasn’t her turn. Deal and live with it.. accept it. She lost.
I know you wanted to flip the switch on me with some anti trump/republican bullshite but I was never with HER. It just wasn’t her turn. Deal and live with it.. accept it. She lost.
This post was edited on 8/24/18 at 10:02 pm
Posted on 8/24/18 at 10:11 pm to FLTech
quote:
3.5% service fee
Shop around. You can get 2.75% with no contract at some places.
Also, I'm going to your competitor if you charge extra for using a cc
Posted on 8/24/18 at 10:16 pm to FLTech
quote:
’m all for capitalism and free market. The point of my thread is for ideas and pointers how to beat my competition with this shitty credit card processing fee that I am having to pay each month. That’s called capitalism. I’m game for it.
What are your margins? That should give you an idea of what your options are on the pricing/processing side.
Posted on 8/24/18 at 10:29 pm to FLTech
my probate office and lawyer both have pretty significant surcharge for using a credit card
Posted on 8/24/18 at 10:55 pm to windshieldman
quote:
windshieldman
quote:
I do mobile work so I only take check or cash, or insurance pays for it. I’m behind the times I know but haven’t had an issue with it yet.
Please quit bugging me everytime I get my truck detailed. It's a small nick and is not directly in my view of the road.
Posted on 8/24/18 at 11:16 pm to FLTech
It's legal, but CC companies do not usually react well to it.
Posted on 8/24/18 at 11:37 pm to FLTech
Better way of accomplishing the same thing is to raise prices by 3.5% and give a discount to people who pay with cash or cash equivalent.
This is what Specs does and it never stopped anyone from buying alcohol.
This is what Specs does and it never stopped anyone from buying alcohol.
Posted on 8/24/18 at 11:47 pm to FLTech
Raise your prices 3.5% and then offer a 3.5% discount for cash customers.
Posted on 8/24/18 at 11:48 pm to FLTech
quote:
If they say card then I would like to be able to tell them that there is a 3.5% service fee is they pay by card.
You must be Asian.
Posted on 8/25/18 at 12:59 am to FLTech
quote:
3.5%
If you're paying that much to your processor, you're getting the shite screwed out of you.
The first thing you need to do is find a better merchant services provider. Your average should be well under 2% with the sales you're doing.
This post was edited on 8/25/18 at 1:05 am
Posted on 8/25/18 at 2:21 am to Evolved Simian
Problem I have with them is the time it takes to pay out. No way should it take more than a couple days. But it’s almost 3 weeks.
Posted on 8/25/18 at 2:41 am to Art Vandelay
quote:
But it’s almost 3 weeks
Shuldnt be that long. The only time I've ever seen 3 weeks+ outstanding,it was a manipulation by the accountant to cover up $45k she'd stolen.
This post was edited on 8/25/18 at 2:57 am
Posted on 8/25/18 at 2:54 am to Green Chili Tiger
quote:to break even you would need to raise prices by 3.63% if you are offering a 3.5% discount.
Raise your prices 3.5% and then offer a 3.5% discount for cash customers.
Also like others are saying, you need to go find another system. Are you saying it’s 120k in fees? Like 3.4MM in sales?
Either way you can get 2.9% without even negotiating these days. Even at 120k sales you should be at 2%. If you are doing 3.4MM than and paying 3.5
Posted on 8/25/18 at 3:00 am to BogeyGolf
What he said. Plus, for transactions where your customer is using the physical card interface, should be closer to 1% for your volume.
Posted on 8/25/18 at 6:39 am to FLTech
It's tax deductible
I only pay 2.7%
Switch to square.
I only pay 2.7%
Switch to square.
quote:
This deduction is part of the miscellaneous itemized deductions, and they cannot be higher than two percent of the merchant's gross adjusted revenue. When a merchantaccepts credit card payments, theprocessor will charge a fee for eachcard swipe. The IRS allows these feesto be deducted for business taxes.
This post was edited on 8/25/18 at 6:53 am
Posted on 8/25/18 at 6:41 am to PorkChops
It's not legal.
I told the people as the parish courthouse this when paying a fine.
The processing fee is deductiblede.
What I did was raise prices by 5% across the board when I started taking plastic.
Edit, legal in Louisiana.
I told the people as the parish courthouse this when paying a fine.
The processing fee is deductiblede.
What I did was raise prices by 5% across the board when I started taking plastic.
Edit, legal in Louisiana.
quote:
Surcharges are also illegal in 10 states: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas, plus the U.S. territory of Puerto Rico.
This post was edited on 8/25/18 at 6:45 am
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