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Wanted to thank you all
Discussions : Questions and answers : Wanted to thank you all
MelindaA wrote:
Hi Guys,
I hope u don't mind me coming back to this topic but thought i would let you know what i have come up with
I rang Bill Buddy and here is what i am going to do
Gather cc details at time of party along with a signature authorising the payment, check the cc sig matches!!
Come home log onto bill buddy and process all transactions.
Fees for this are 0.99 per transaction plus 2% merchant fee. no other charges.
The one downer... is they want copies of the signatures so i either have to fax or scan/e-mail them... i don't have a fax so will have to scan and e-mail which is time consuming but at least it avoids all the other costs of having an eftpos machine.
Now my Q is should i pass on the 2% or should i have a credit card fee of $2 across the board (that way it my deter people and get them to pay cash??) or should i not worry about it and wear it
i mean if i have a transaction of $100 - it will cost me $2.99..... i am pretty sure i can wear that.
Maybe i have a minimum purchase fee ie cc transactions over $50 .....
would like some feedback on this if anyone is bothered to read again!! thanks
Lilygirl_wytch replied:
Hi sienna,
rule of thumb in business is you pass all costs of credit card transactions onto the client. so long as you disclose this to them prior and during the transaction most customers are fine with this as most businesses now charge their transaction fees.
Only big retailers like department stores and some restaurants etc will not as they have more money and better deals with the companies.
When I paid for an expo recently, I was advised of the transaction fee and asked if I still wanted to go ahead with the payment. So I was given the option.
At the end of the day, it is entirely up to you, just remember little $2.99, can turn into $299 if you do 100 transactions. Can you afford to carry this?
Personally I wouldn't, I would include it in my pricing and/or delivery charges.
good luck
Lilygirl
Asterix replied:
Hello Sienna,
Credit Card transaction fees you have to wear it but u can ask your customer if they could pay cash instead of credit cards. but if they dont have cash , well no choice. I do a lot of credit cards transaction mainly for my orders thru my website and personal sales as well. I guess $ 3.00 fees per $100.00 dollars sales is still good. You still making money...
Cheers,
Liddy
nett5980 replied:
Hey Babe,
I too signed up with Bill Buddy after richy gave them such a good rap to you.
Is there any reason why you are choosing to not process them on the spot?
I charge $2.00 per credit card transaction, and then ring the 1300 number on the spot, and process the payment.
That way, I know it has authorised on the spot, no collecting peoples credit card details, and being 1300 it is inexpensive.
Being for business, you can claim your mobile calls on tax anyway, so that covers the call costs, and the $2.00 covers the majority of the transaction fee.
That way, youcan give the customer a receipt number straight away and it only takes a minute to put each one through.
I have just done up a printout, and popped it in a document/certificate frame, that I just pop on my display tables at partys. It states that credit card fees incur a $2.00 fee, and you will be given a receipt number straight away.
Annette xx