Extra cost for paying by plastic?

Originally posted by Tony Ruscoe

Basically, credit card companies charge a percentage (or sometimes a fixed rate) for every transaction that a shop makes. The company would be well within their rights to charge you extra (as some do - e.g. ticket agents, travel agents, etc.) to cover their costs. The shops that don't do this are losing out. The reason it's on the receipt is just to bring it to your attention that you are costing them money!

 

"They" say that if people keep using credit cards to pay for things, everywhere will have to increase their costs to compensate.

It's just I didn't use a credit card, I used a debit card. I could have written a cheque, would they have charged me for that as well?

With the payment service provider we're with at work, it doesn't matter whether it's credit or debit card - we still get charged 1.5% or 40p per transaction (which was our choice when we signed up with them).

They could charge extra for using cheques to pay too, as it costs business accounts 50p for each cheque they pay (or at least that's what I was told by the bank when my old rock band wanted an account in our band's name)!

Interesting that the City Hall charge you 2% if you pay with VISA but no charge if you pay with Switch.

Originally posted by Tony Ruscoe

With the payment service provider we're with at work, it doesn't matter whether it's credit or debit card - we still get charged 1.5% or 40p per transaction (which was our choice when we signed up with them).

 

They could charge extra for using cheques to pay too, as it costs business accounts 50p for each cheque they pay (or at least that's what I was told by the bank when my old rock band wanted an account in our band's name)!

You can have a free business account with Alliance and Leicester so long as you stick to the guidlines. Which for a small business are a piece of... erm... pee!

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