Unusual charge on my bank statement

[Eddie Bee]

Any trader paying 33-40p per transaction needs to look elsewhere for their payment processor.

Yep, probably...

 

[8ace]

Then that shopkeeper is ripping off his customers. The cost per transaction for a trader using the facility more than 350 times a month is 9p plus a monthly fee of £19. Under that then all they pay is the £19 charge - I know because I putting in a system for a customer to do exactly this. Many banks actually charge a higher monthly fee for a business account that has the ability to accept cash payments over the counter. The problem is that people like travel agents have conned the public into thinking paying by card is expensive for them.

If someone just buys a packet of fags with a card he makes a loss.

 

[Uncle C]

Gentlemen should always carry cash

It does avoid an unsightly bulge.

 

[DanielT]

Meanwhile, back at the point...

Do swfc get credit for my coffee? Does it get read out at their agm "ay oop. look how much stuff we're selling"

 

[bluenitsuj]

I never carry cash, always use my card. Why should I take a tenner out at a cash machine if I only need a couple of pounds? seemd daft to me. A card is as good as cash and as long as the retailer etc is getting their money then that is fine by me.

Also, why do people think it takes so much longer to use a card. You put your card in and type in 4 digits - simples!!

 

[KneeOn]

They need to roll out those wireless card readers everywhere, it's even quicker than dealing in cash using those.

not enough people know about them. I've processed less than 10 contactless payments since it was rolled out and we serve over 1000 transactions a day.

 

[KneeOn]

Yup. and that includes the staff in stores. I go into stores knowing that they have the facility, but a lot of the time the staff don't even use it.

I think the only difficulty is that i used to say "pop your card in the bottom and enter your pin when prompted" and it's hard to break that. Lately i'm starting to say "touch your card o the screen if it's contactless or pop it in the bottom and enter your pin if it's not." But i agree. Both sides of the till there is not enough knowledge on the system. And it is fantasticly fast. I got a new bank card through the other day and my one isn't contactless. I'm a bit disappointed.

 

[Official Old Man]

Then that shopkeeper is ripping off his customers. The cost per transaction for a trader using the facility more than 350 times a month is 9p plus a monthly fee of £19. Under that then all they pay is the £19 charge - I know because I putting in a system for a customer to do exactly this. Many banks actually charge a higher monthly fee for a business account that has the ability to accept cash payments over the counter. The problem is that people like travel agents have conned the public into thinking paying by card is expensive for them.

I'm a small shop keeper and take very few card sales. My costs are about 50p per transaction taking in to account my total cost from the machine supplier. You also have to take into account that many small businesses pay 35p per payment into their bank account. One card payment per day could cost up to 85p. People put a £1.50 sale on card and I lose money therefor I charge 50p per transaction. Anyone who complains get the same response from me every time "go next door and pay £2 to take out some money from an ATM" or "I've just had to pay £55 credit card fee on my holiday so you're getting away lightly"

 

[Shropshire Seagull]

I never carry cash, always use my card. Why should I take a tenner out at a cash machine if I only need a couple of pounds? seemd daft to me. A card is as good as cash and as long as the retailer etc is getting their money then that is fine by me.

Also, why do people think it takes so much longer to use a card. You put your card in and type in 4 digits - simples!!

This ...
I have a cash-back credit card so the more I can spend on it, the more I will get back - just so long as I always pay off in full each month.
Cash is so yesterday .....

Having read the above posts I'm getting the impression that CC transactions are charged per transaction rather than on a % of the amount. So why, when I booked a holiday, did Thomas Cook say I could only put £1k on the CC and the balance had to be either cash or debit-card?

 

[Garage_Doors]

Cash really is so yesterday ! Retailers really need to install the touchless card readers - fantastic bit of technology.

With these touchless card readers i understand there is no pin required.
So what's stopping the scammers having them in pockets or suitcase (if bigger) etc and scanning your card as you walk past in the street?

 

[Garage_Doors]

I never carry cash, always use my card. Why should I take a tenner out at a cash machine if I only need a couple of pounds? seemd daft to me. A card is as good as cash and as long as the retailer etc is getting their money then that is fine by me.

Also, why do people think it takes so much longer to use a card. You put your card in and type in 4 digits - simples!!

Its the time for the machine to work, there is quite often a long pause between entering the card to entering pin to accepting the pin, and printing receipt.
Cash is significantly quicker.

 

[8ace]

I never carry cash, always use my card. Why should I take a tenner out at a cash machine if I only need a couple of pounds? seemd daft to me. A card is as good as cash and as long as the retailer etc is getting their money then that is fine by me.

Also, why do people think it takes so much longer to use a card. You put your card in and type in 4 digits - simples!!

Who the f*** only takes a tenner out?
I take out at least a bullseye, most of the time a one-er.

 

[DanielT]

With these touchless card readers i understand there is no pin required.
So what's stopping the scammers having them in pockets or suitcase (if bigger) etc and scanning your card as you walk past in the street?

It's NFC/RFID so only works within a mm or so. Like an oyster card.

 

[Westdene Seagull]

With these touchless card readers i understand there is no pin required.
So what's stopping the scammers having them in pockets or suitcase (if bigger) etc and scanning your card as you walk past in the street?

There are numerous protections in place - firstly you can only use it for small transactions ( below £20 if memory serves ). The readers have to be connected to the payment processor systems to work - so someone with one in their suitcase aren't going to be able to grab your money as they won't be connected nor will they have an account with a payment processor.

Everything's crackable obviously but the touchless card technology is very secure.

 

[Arkwright]

I have a standing charge of £20 + VAT for my Card Machine. Most small shops like mine make a charge of 50p for any transaction under £5.00 if not the margins and reduced to next to nothing. Sadly all business needs a Merchant Card Machine I'd love to get rid of mine and save £240 + VAT per annum.

And yet if I put a debit card withdrawl through the Post Office I make 6p in commission, no brainer I put as much through the Post Office as I can instead of through the shop.

 

[cloud]

Sat in the corner of Dicks Bar for 20mins with an iffy 3G connection so that I could load some more cash on my ST... just to avoid the embarrassment of buying 2 drinks with a card.

So you were able to buy your drinks with, erm a card