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re: Restaurants charging 4% for using credit card
Posted on 3/19/22 at 8:28 pm to lsu1919
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.
0
Posted on 3/19/22 at 8:32 pm to lsujag
quote:well did she show you?
Asked her and she showed me in small print a 4% charge for all non-cash payments
Posted on 3/19/22 at 8:36 pm to lsujag
Lady that cuts my hair told me she no longer accepts debit cards for charges less than $50.
My haircut is $12 and I always pay cash anyway.
Said the bank charges her $2 per transaction now.
My haircut is $12 and I always pay cash anyway.
Said the bank charges her $2 per transaction now.
Posted on 3/19/22 at 8:38 pm to Spankum
quote:
looks like the tip gets cut by 5% when using a credit card from now on.
Did the service somehow get worse?
Posted on 3/19/22 at 8:42 pm to LSUJML
Your parents are clueless and would likely fall for the Nigerian Prince scam.
Twice
Twice
Posted on 3/19/22 at 8:43 pm to RonLaFlamme
The thing is some people pay the 4 percent on big purchases or expenses too.
A friend bragged about how smart he is paying by credit card and getting 1.5 percent in points for travel,
I said why not pay in cash and get 4 percent instead of 1.5
On Long Island property taxes for an average house can easily be in the 20,000 dollar range per year and the governments will charge you 4 percent.
So you pay an extra 800 dollars which is why everyone come to town hall twice a year with big stacks of money!
A friend bragged about how smart he is paying by credit card and getting 1.5 percent in points for travel,
I said why not pay in cash and get 4 percent instead of 1.5
On Long Island property taxes for an average house can easily be in the 20,000 dollar range per year and the governments will charge you 4 percent.
So you pay an extra 800 dollars which is why everyone come to town hall twice a year with big stacks of money!
Posted on 3/19/22 at 8:45 pm to shawnlsu
What does it matter if they tip in cash?
I can assure you they manage their finances quite well & no matter if it’s true or not at least they are decent people looking out for their server to make sure they get what they feel is owed them
ETA
LINK
I can assure you they manage their finances quite well & no matter if it’s true or not at least they are decent people looking out for their server to make sure they get what they feel is owed them
ETA
quote:
In many states, restaurant employers can collect 2-3% of any credit card tips acquired by servers (to cover transaction fees)…a practice that is often met with criticism…learn more.
quote:
Under the Fair Labor Standards Act, employers are allowed to deduct that 3% processing fee from employees’ tips, so long as this does not hinder the employee from making at least minimum wage.
LINK
This post was edited on 3/19/22 at 8:49 pm
Posted on 3/19/22 at 9:01 pm to lsujag
A few businesses around LC do it. IMO This is a 20th century BS way of doing business. We are a digital economy. Many people don’t carry much cash around with them anymore.
The business isn’t passing on anything just now getting charged a processing fee on a higher amount. I see it as the business penalizing me for doing business with them. So I won’t.
The business isn’t passing on anything just now getting charged a processing fee on a higher amount. I see it as the business penalizing me for doing business with them. So I won’t.
This post was edited on 3/21/22 at 10:23 pm
Posted on 3/19/22 at 9:14 pm to Jcorye1
quote:
Cost of business. If they refused to take credit, people would not shop there
A lot of small business owners don’t understand this simple concept. My credit card customers spend a lot more money with me than my cash customers so I’m not going to create a disincentive for credit card customers to do business with me. If anything, I should give them a discount.
Posted on 3/19/22 at 9:38 pm to Spankum
The restaurant was eating these charges already
Now they're actually passing it on.
I did bookkeeping for a restaurant years ago. The amount they paid these cc companies in fees every month was astronomical.
Now they're actually passing it on.
I did bookkeeping for a restaurant years ago. The amount they paid these cc companies in fees every month was astronomical.
Posted on 3/19/22 at 9:38 pm to Spankum
So the restaurant still gets there money. The credit card processing company gets their money but the waitress that has nothing to do with the policy gets stiffed.
That's a great way to handle it.
That's a great way to handle it.
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