The Reading Vent & Rant Thread

[JSWolf]

Originally Posted by Deskisamess

We've had some small home improvements made recently, and every one of the companies charge 2-3% if we use a credit card. So we pay with checks. This fee is not unusual, it is more the norm now than ever with plumbers etc.

We only get 1% on those purchases, so it doesn't make sense to use the cards. It's annoying, but the way it is.

Typically, we only write a few checks per year. I'll use my online bill pay if the company is set up to receive electronic payments, but most of these companies are not. If I use online bill pay to pay a bill and the company doesn't accept electronic payments, the bank prints a paper check and mails it snail mail. 2 payments sent that way went missing, so I no longer do that.

Do they also charge a fee for using a debit card?

[John F]

Originally Posted by DNSB

Never blame on stupidity what can be attributed to malice.

A rolling stone gathers no moss.

[JSWolf]

Originally Posted by John F

A rolling stone gathers no moss.

Unless the stone rolls over the moss and picks it up on the way over.

[Deskisamess]

Originally Posted by JSWolf

Do they also charge a fee for using a debit card?

I don't know for sure, but am think most still charge the fee when using a debit card. They pay the fee for accepting card payments, regardless.

We stopped using our debit card for POS many years ago. It carries the same protections as a credit card, (or did, there have been changes at our bank) but it ties up the account if there are problems. We only use the debit card to get cash from the bank.

I think it is simplistic to say there is no reason for using checks. My 93 year old mom still pays her few bills with checks, because it is the only method available to her. She does use a debit card at the grocery store, and believe me, that took some convincing. It is rung as a credit card, no inputting her PIN. There are still locally owned retailers who don't take card payments, so if you want to shop there, you need to write a check.

[Apache]

Originally Posted by JSWolf

Do they also charge a fee for using a debit card?

My Credit Card Service Provider charges me 1.5% on credit cards and $0.15 on each debit charge regardless of the amount. The companies that are charging people for using credit cards and debit cards are definitely making a profit. Most are charging 3% to 5%. I do not charge extra to use a card. The majority of my customers are using debit cards over credit cards. I also offer a 5% discount to customers who pay for their repairs or custom orders in advance.
Apache

[theducks]

Originally Posted by JSWolf

I remember back when checks used be used in a supermarket. It was really annoying having to wait for check to be written and the transaction to be finished.

I cannot see the need at all for personal checks.

In the USA
'Civil Asset Forfeiture' (only a few states have recently banned the practice.)
Go watch some You tubes.
Make Robin Hood look like a great neighbor

I used to pay cash for anything under $25 because I also knew how much the merchant pay in fees for card use. (My break even point was $5 on pre-marked items. That was JUST for the item. )

[Renate]

Originally Posted by theducks

I used to pay cash for anything under $25 because I also knew how much the merchant pay in fees for card use.

In tap-crazy Europe I've seen signs saying that you're welcome to use contact-less cards for anything. The implication being gum, etc.

[theducks]

Originally Posted by JSWolf

Do they also charge a fee for using a debit card?

The % in not the ONLY FEE or Expense.
Fees can change depending on Annual Volume.

Connection (harkens to Dialup days) or Transaction fee (this does not include YOUR Phone/wireless/data service charges billed separately.
Equipment rental / purchase / maintenance, everything else needed just to accept a card.

Penalty fees.
Hand Keyed (not swiped),
Charge back (disputed),
Returns (the merchant is still on the hook for the original sale AND the return transaction charges.)

And one included, I had not known for a long time. (CC processing service) referral Sales commission. My boss let slip: 1/2 cent for every transaction on service he got the merchant to use as part of the Point of Sale equipment he sold.

[Sirtel]

Originally Posted by Renate

In tap-crazy Europe I've seen signs saying that you're welcome to use contact-less cards for anything. The implication being gum, etc.

Yeah, mostly everyone uses cards here for everything. Cash sometimes too, especially kids. No checks. As in, writing a check doesn't exist here; it's cash or a card, or a phone payment. Or direct debit, in case of electricity and other recurring payments.

[DNSB]

Pretty much the same here when it comes to payments. Debit/credit card by tap unless you exceed the limit in which case chip & PIN, mobile payment or cash though quite a few places no longer take cash. Recurring payments all come directly from the bank. If it wasn't for needing coins for shopping buggies, I wouldn't carry cash at all.

When it comes to payments, the USA suffers from having to replace older infrastructure—those POS terminals aren't free—so they seem to lag well behind everywhere else.

[ownedbycats]

I remember when the Rogers outage took down Interac all across Canada.

[Deskisamess]

I forgot, we used a check for the large down payment on a car. The dealership would only allow $2k on a credit card, max of two cards. We had sold stock and had the down payment in our checking account.

The stock transaction was electronic and fast. Not even 2 business days.

[Apache]

I also forgot that merchants have to be PCI Compliant (Payment Card Industry Data Security Standard), or you will pay more in processing fees. You have to run these scans every three months and if you do not pass you have to figure out what is wrong and fix it. Then rescan. If you are not PCI compliant you will pay more in charges.
Apache

[DNSB]

Originally Posted by Apache

If you are not PCI compliant you will pay more in charges.

And if you don't achieve compliancy in your annual review, you can be subject to monetary punishment and/or termination of your processing services until you can prove that you are compliant.

[Apache]

Originally Posted by DNSB

And if you don't achieve compliancy in your annual review, you can be subject to monetary punishment and/or termination of your processing services until you can prove that you are compliant.

Yep, and PCI Compliance transfers liability due to fraud from the service provider to the merchant.
Apache