Taking Credit Cards

Taking credit cards

Tony Reynolds somewhere near Newark, Ohio

>We set it up thru our bank. Setup costs including equipment ran about $600. Then it's 2 - 3% of the sale depending on the months volume, or $15/month if zero credit card sales for the month. It's a racket, but too many folks want to use them not to accept them. You just learn to build the cost in and pass it along just like any other expense.

Tony

Re: Taking Credit Cards

mikew

>You can get one of many services to set you up. Fees sometimes depend on volume, or at least they use to. I made the decision I didn't want another terminal with the present biz, so I use PayPal for taking CC or bank transfers.

Take care, Mike

Re: I'm with Mike

Dale Lenz

>the customer can use most major CC by going through PayPal. It will normal cost you 3% of the sale. If you use PP to purchase items, you will normally get 1.5% back. So....the intial transaction only cost you 1.5%

Re: I'm with Mike

Deirdre Saoirse Moen

>Even as a Premier member, I find PayPal the best option. Many people have it, and there is a 1.5% rebate on purchases made with their debit card (used as a credit card).

First straight answers . . .

Steve Mackay

>I've gotten from anyone ! Thanks for that. I know we're all in this for metaphysic reasons but it DOES help pay for the tool junkie habit, right ?

if you choose to go with cc service...

Victor P

>Please Read Your Contract.

I just canceled my contract after seven years with one service here in houston to go with a better deal offered by my bank, and got popped with a $250.00 charge for "early cancelation" (After 7 years???) Seems there was a clause (catch) that after the first year there was an annual automatic renewal of the contract. Since I did not cancel on the anniversary date, they got to charge me the full $ 250.00. (ouch.) You do the math: I figure they have at least 10,000 accounts like me, and none of them will remember this clause. $250 x 10,000 = $ 2.5 million.

To quote Yossarian "That's come catch...".

Victor - Hope each you remembered your mothers today.

Re: I'm with Mike

steve knight

>for 20.00 a month you can also use paypal to take cards over the phone and all. its a bit of a hassle to type or copy and paste all their info into the page but it works. but I don't take enough direct cards to justify the 20.00 a month cost. so it is like a merchant account but you don't have to swipe cards.

Re: First straight answers . . .

Deirdre Saoirse Moen

>Suffice to say that the Paypal payments I've gotten from selling yarn in the last week have allowed me not only to ship the yarn (lots of yarn btw), but also to take a class on planemaking next week and get the Ron Hock kit for same -- as well as acquire a lot of miscellaneous little tools (e.g. a fretsaw plus some blades for it, a swedish knife I managed to injure myself badly enough to need stitches with, etc.).

Re: if you choose to go with cc service...

Patrick Gibbons, Houston, TX

>Victor, many CC processors will pay your penalty to have you switch to them. Don't know if it's too late but if you don't ask, you don't get.

I agree

david.marcus.brown

>I do alot of business on eBay and paypal is great. I actually have two paypal accounts -- one to receive credit card payments and another to receive bank account transfers.