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Ques. for Business owners

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MRSE
LIF Adult

Member since 5/05

1420 total posts

Name:
(112903)

Ques. for Business owners

If your business takes Credit cards and Amex is one of them... what % do they charge you?

Posted 3/3/06 9:33 PM
 
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suvenR
designer mutt

Member since 5/05

4239 total posts

Name:

Re: Ques. for Business owners

$5 per month and I think it's another $5 per transaction...

Posted 3/3/06 9:35 PM
 

MRSE
LIF Adult

Member since 5/05

1420 total posts

Name:
(112903)

Re: Ques. for Business owners

WOW thats it...Some one told me it is like 25% off the purchase price....

Posted 3/3/06 9:36 PM
 

suvenR
designer mutt

Member since 5/05

4239 total posts

Name:

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

Posted 3/3/06 9:37 PM
 

MRSE
LIF Adult

Member since 5/05

1420 total posts

Name:
(112903)

Re: Ques. for Business owners

ok thanks...

Message edited 3/4/2006 8:34:00 AM.

Posted 3/3/06 9:49 PM
 

MRSE
LIF Adult

Member since 5/05

1420 total posts

Name:
(112903)

Re: Ques. for Business owners

anyone else have any input

Posted 3/4/06 8:34 AM
 

Gertyrae
Peace out Homies!

Member since 5/05

20046 total posts

Name:
Gerty ®

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)

Posted 3/4/06 9:10 AM
 

MRSE
LIF Adult

Member since 5/05

1420 total posts

Name:
(112903)

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.

Posted 3/4/06 9:24 AM
 

joann564
LIF Infant

Member since 9/05

266 total posts

Name:
Jo Ann

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.

Posted 3/4/06 9:59 PM
 

CathyB

Member since 5/05

19403 total posts

Name:

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.

Posted 3/4/06 10:06 PM
 

MissJones
I need a nap!

Member since 5/05

22131 total posts

Name:

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!

Posted 3/4/06 10:43 PM
 

MRSE
LIF Adult

Member since 5/05

1420 total posts

Name:
(112903)

Re: Ques. for Business owners

BUMP.. Thanks everyone

Posted 3/6/06 9:24 AM
 
 

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