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MRSE
LIF Adult
Member since 5/05 1420 total posts
Name:
(112903)
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Ques. for Business owners
If your business takes Credit cards and Amex is one of them... what % do they charge you?
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Posted 3/3/06 9:33 PM  |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: Ques. for Business owners
$5 per month and I think it's another $5 per transaction...
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| Posted 3/3/06 9:35 PM |
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MRSE
LIF Adult
Member since 5/05 1420 total posts
Name:
(112903)
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Re: Ques. for Business owners
WOW thats it...Some one told me it is like 25% off the purchase price....
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| Posted 3/3/06 9:36 PM |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: Ques. for Business owners
I'm not 100% sure on the per transaction fee, but I'm pretty sure that's what it is
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| Posted 3/3/06 9:37 PM |
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MRSE
LIF Adult
Member since 5/05 1420 total posts
Name:
(112903)
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Re: Ques. for Business owners
ok thanks...
Message edited 3/4/2006 8:34:00 AM.
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| Posted 3/3/06 9:49 PM |
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MRSE
LIF Adult
Member since 5/05 1420 total posts
Name:
(112903)
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Re: Ques. for Business owners
anyone else have any input
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| Posted 3/4/06 8:34 AM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: Ques. for Business owners
I can't answer you now(I'm not the business owner) but I can definitely tell you on Monday.
It can't possibly be $5 per transaction because many times people charge things for less than $5, wouldn't be worth it for the business.
I am pretty sure it's about 5% of the total sales and the bank charges a monthly fee. It also may be based on usage (the more charges the lower the fee)
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| Posted 3/4/06 9:10 AM |
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MRSE
LIF Adult
Member since 5/05 1420 total posts
Name:
(112903)
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Re: Ques. for Business owners
Thanks... i found out if you sing up for their service it is $5 amonth and $5 per transaction..... Thanks for all your help
Message edited 10/18/2006 2:50:17 PM.
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| Posted 3/4/06 9:24 AM |
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joann564
LIF Infant
Member since 9/05 266 total posts
Name:
Jo Ann
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Re: Ques. for Business owners
From what I remember Visa/ Mastercard charge a % of the total sale.
Discover and american express charge a per transaction fee. The fee at the time was under a dollar.
This is why alot of small business do not take discover and amex.
This is also why some places have a min that you can charge.
If you are looking for a company to do your processing Costco offers it through their executive membershop for business owners it was a good deal at the time. check out their web site.
Message edited 3/4/2006 9:59:54 PM.
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| Posted 3/4/06 9:59 PM |
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CathyB
Member since 5/05 19403 total posts
Name:
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Re: Ques. for Business owners
I have a friend that works for a major CC company and she told me that the fee will vary based on industry. Retail is different than food services, etc.
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| Posted 3/4/06 10:06 PM |
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MissJones
I need a nap!
Member since 5/05 22135 total posts
Name:
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Re: Ques. for Business owners
I used to do the books for two business and there was a monthly fee and then a % fee taken. The fees varied from 2% - 8% with M/C and Visa being less than Discover, which is why a lot of stores don't take Visa so much. Anyway, based upon sales, the fee varied, so some months, the fee could be $80 while other months, the fee was $240. Depended on business!
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| Posted 3/4/06 10:43 PM |
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MRSE
LIF Adult
Member since 5/05 1420 total posts
Name:
(112903)
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Re: Ques. for Business owners
BUMP.. Thanks everyone
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| Posted 3/6/06 9:24 AM |
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