credit card terminal costs

nik · 11 March 2010, 13:37

Hi, I guess there are some people here that have merchant accounts for credit card terminals.
I am trying to get an idea of the cost. The last time I looked, aside from dealing charges, the terminals were about £30 a month to rent and that was too much for me.
I have been looking online, but no one will give a price on a website, they all seem to want you to call them.
So I would be interested if anyone can give me an idea of current deals available.

Thanks, Nick.

Channel Ribs · 11 March 2010, 13:56

When we were in the UK we got a deal by going through the Guild of Mastercraftspersons, which saved a lot on set up costs and got a good initial commission rate.

The long and the short though is that you will end up paying one way or another.

nik · 11 March 2010, 14:05

This would be for a B&B, I may not swing it as a craft, thanks though.
My main concern is that monthly standing charge.

ScotSeats · 11 March 2010, 14:07

Do you need it for mail order or is going to be in a shop where customers are actually handing you the card and expecting to put PIN number in? As if mail order we have a web based system which you input the card details in which in turn means we don't have to pay a rental for a terminal.

Channel Ribs · 11 March 2010, 14:13

Quote:

Originally Posted by nik

This would be for a B&B, I may not swing it as a craft, thanks though.
My main concern is that monthly standing charge.

Oh I dunno, a good fried breakfast is a craft if not an art.

If I remember rightly the only way to bring the monthly charge down is to take a hit on the commission rate. Which might work if you restrict it to debit cards?

nik · 11 March 2010, 14:16

I wasnt aware of that system, it would be good for taking deposits. Can you give me a name?
In the long term I think we would need a terminal, but that could be a good stopgap.

Nick.

Kernow Buoy · 11 March 2010, 14:19

Nik Barclaycard charge £15 per month plus a setup charge and then of course commision.

Steve_B · 11 March 2010, 14:20

Nick

I would recommend a company called Streamline. If you join the Federation of Small Businesses (very reasonable) the deal is very attractive. You dont pay a set up fee, the monthly rental is much reduced, as are the standard % fees for all the cards.
They also set up a Worldpay account free and turn around the money quickly.
Steve

nik · 11 March 2010, 14:32

I had a quick look at the Federation of Small Businesses site the other day and could not find a mention of that, but I will have another look.

ashbypower · 11 March 2010, 14:39

No nick Streamline are the people that supply the terminal, and as a member of FSB you'll get discount check out the streamline site. We use them and ars FSB members works out Ok but as has been said you end up paying one way or another!!

BLACKSTORM · 11 March 2010, 15:14

Hi i use cardnet fee £20 amonth but cost per tran is the best any where{ 5 pence } but dont take the first offer tell them to take a run &jump tell them what you want to pay , i also got of with the set up fees and got a fully moible machine using vodafone it can go anywhere in the uk

ScotSeats · 11 March 2010, 15:17

ITS Interactive Transactions Solutions - Client Services on - 01243 434 555 or email: client.services@interactivets.com

You can use the same system when customers are with you it just means you need a printer attached to your computer to print off there receipt.

nik · 11 March 2010, 15:38

Thanks for the input guys, its given me something to look into.

Nick.

C2 RIBS · 11 March 2010, 18:32

Nik, also read this thread
http://rib.net/forum/showthread.php?...t=card+payment

Bigmuz7 · 12 March 2010, 09:22

Quote:

Originally Posted by C2 RIBS

Nik, also read this thread
http://rib.net/forum/showthread.php?...t=card+payment

Interesting.. I'd forgotten about that thread ^.. and about checking how much we pay and doing something about it

. I phoned streamline today, and they think they can reduce our £18.95 monthly terminal rental.

As an aside, If I take the total monthly transactions we put through, and look at the costs of terminal rental, and percentage deductions by the card companies .. 2.5% from Visa, Mastercard etc & 2.9% from business credit cards,.. £0.50 per transaction for debit cards .... we are actually paying about 3.62% of our monthly card transactions in fees back to Streamline .. So reading some above posts, I think we could improve on that

bedajim · 30 June 2010, 12:49

So can I ask who you guys use now?

It would normally be for over the phone customers.

Jim

Bigmuz7 · 30 June 2010, 19:54

Quote:

Originally Posted by bedajim

So can I ask who you guys use now?

It would normally be for over the phone customers.

Jim

Now youre asking mate .. they've just changed all the charges ... again

You know .. sometimes I just take the view that because its an assured transaction, and the money will be in your bank if the transaction is approved, that , because it cuts out bad debt , and what you would lose on a punter who may previously have defaulted, that the fee is worth paying anyway and taking the business , and knowing youve got it .. god...

I sound like a hooker