Fee for buying with credit card

crinkleshoes · 16 Mar 2018 at 18:17

That's a good set of rates

Regy53 · 16 Mar 2018 at 19:35

them rates look good

As a seller of high turnover goods with a reasonable margin we cannot afford the fees we are charged on CC. Also they scare the **** out of me for reasons that somebody may buy something and try a chargeback for silly reasons.

As such i just refuse to take them, its my business my terms, were not trying to rip anybody off but the card charges are to high on a 10-20k item if on CC.

crinkleshoes · 16 Mar 2018 at 20:41

arfoll said:
izeetle used to have a sliding scale so it was 2.75% for small traders. Now it's a fixed 1.75% with their latest plans. On a 5 pound buy that's 9p. If your margin is 9p your bussiness is going to struggle! Just stick a minimum spend of 5 or 10 and job done? My mum was using paypal here and izeetle now and it's actually pretty good for her usecase. Izeetle is surprisingly reliable and now takes contactless!

I do think it's a bit unfair because a CC vendor (let's say AMEX) can jack their fees up and offer rewards to their customers. Simple solution vendors just ban such CC vendors.

Afaik izeetle is more 'expensive' fee wise compared to more traditional methods used in shops but there's no fees, minimums etc just the (small) cost of the device and transaction fees.

If it's really that low now, then that's an acceptable fee structure.

Last time I looked, for visa specifically... it was even as high as a base price of 50p per transaction + 1-3%

It did depend on the deal of the provider though and it could vary quite a bit.

If it's really that low now, then yes - no problem with it and they shouldn't be profiteering from it, not at all... all I'd be bothered about is covering the costs.

I'd be OK with a minimum spend... most of the places I've dealt with over the last years did that anyway... so it was a minimum spend of £5 or £10 for no fee... otherwise less than that, they'd charge 50p... I don't see any issue with that. Now maybe they just specify a minimum spend if their fees are higher than the offer you've posted, I'd be OK with that.

mrbazmondo · 16 Mar 2018 at 22:10

For the record, I don't mind a minimum spend of £5 either for small shops.
My point was that by pushing a surcharge you might be making a margin on a small sale, but if you drive away a customer then they won't be doing a big spend with you either and you lose out.

jamoor · 16 Mar 2018 at 22:27

crinkleshoes said:
If it's really that low now, then that's an acceptable fee structure.

Last time I looked, for visa specifically... it was even as high as a base price of 50p per transaction + 1-3%

It did depend on the deal of the provider though and it could vary quite a bit.

If it's really that low now, then yes - no problem with it and they shouldn't be profiteering from it, not at all... all I'd be bothered about is covering the costs.

I'd be OK with a minimum spend... most of the places I've dealt with over the last years did that anyway... so it was a minimum spend of £5 or £10 for no fee... otherwise less than that, they'd charge 50p... I don't see any issue with that. Now maybe they just specify a minimum spend if their fees are higher than the offer you've posted, I'd be OK with that.

I don't think izettle ever had a per transaction charge. Also there is square which is just as good

crinkleshoes · 17 Mar 2018 at 13:07

I’m not sure about that company, I’m more on about the bigger ones like ingenico etc

muon · 17 Mar 2018 at 15:46

3%? That charge is from the days before the EU started clamping down on the fees charged by VISA and Mastercard.

This preceded the recent ban. The ban happened because many sellers were not voluntarily passing this cut on.

https://www.telegraph.co.uk/persona...-fees-backfires--youll-still-pay25pc-to-spen/

Iamzod · 17 Mar 2018 at 22:58

Nobody get's charged 3-5% on a personal credit card. I can get rates down to 0.43%.

If the merchant can't be arsed to shop around why should the consumer pay?

jamoor · 18 Mar 2018 at 19:59

Iamzod said:
Nobody get's charged 3-5% on a personal credit card. I can get rates down to 0.43%.

If the merchant can't be arsed to shop around why should the consumer pay?

Exactly I have demonstrated that it takes all of five seconds to get a percentage charge for card processing that's relatively low.

booyaka · 19 Mar 2018 at 15:17

OP- Walk away - Sounds like a disaster waiting to happen if a Trader is moaning about fees on an £8k sale......

Puzzled · 19 Mar 2018 at 20:29

You can put a small amount on credit card and still get section 75 protection but yeah they should have stopped that.