OT Credit Card machines

Mike (WA) · Aug 1, 2013

Any of you business types take credit cards through your computer, rather than the swipe machines? I take credit cards in my law office, but not frequently. Usually when someone says they're a little short and that's the only way they can pay, unless I want to wait for a check. No, thanks- strike while the iron is hot! Gimme that card. . .

I just got notified that my lease on the reader is up, so I need "new equipment". Roughly translated, they're looking forward to even greater hosing opportunities.

I googled the subject, and it looks like about 2.7% per swipe, no other fees, is about normal. I'm paying MUCH more than that now, if you figure in the transaction fee, rent on the reader, etc. There are a number of different outfits that offer the service- any of you use any of them? Recommendations (for or against) specific companies? Traps for the unwary?

Mike M · Aug 1, 2013

We use a company here at work called Sage. Not as fast to use as the previous company Viaklix. But the office gals like it better for invoicing and the fees are less.
I see on TV someone advertising one to hook onto a mobile phone.

Tom in TN · Aug 1, 2013

Mike,

I work a part-time job doing accounting for a small marketing consulting firm here in Tennessee.

We use our bank's (SunTrust) Merchant Services for credit card payments. We don't use any readers. We simply enter the credit card information into a "Transaction" screen on their on-line application.

The funds arrive in our checking account in 2 or 3 days. The fee is right at 3% of the transaction.

Tom in TN

GordoSD · Aug 1, 2013

There are a couple of apps for the iphone and a little gizmo to snap into it and you are in business. Ask some teenager.

JOCCO · Aug 1, 2013

Mike: The thoughts locally are use your bank and or credit union not a 3rd party or a service provider They sometimes have a contract and large monthly fees (a freind of mine got wacked bad on this) Had to pay to get out of it. Believe it of not i still have the old knucklebuster machine and have to call it in!!!! I to only use it occasionly. I know some of these swipe machines are $500. As for the cell phone/computer ones i would go talk to the bank or outfit and see how they work I pay a small fee for the account and like 2% for each transaction. The fee at 3-5% could get heavy on say a $1000 charge and some have a reduced rate if over so many dollars. I was much like you in that at the time i would rather get my money minus the fee than wait around or get paid $100 a month for a year!!!!! MY PROBLEM IS NO ONE SEEMS TO WANT TO PUT IT ON PLASTIC SO IT DID NOT HELP MY BUSINESS ANY THAT WAY!!!! I would also look at customer service (local vs some country that does not speak english)!!! One last thing tell the bank or company that you are are an in-frequent user (they may have a program for it) that is basically one of the reason i ended up with the knucklebuster type. Hope this helps

caseyc · Aug 1, 2013

I've been taking credit cards for two years now with a swipe type machine. I'm under contract for 2 more years yet. Can't wait for it to be up as I get raped everytime I swipe a card. When I signed up I didn't know any better. Now I do! Next step will be with my local bank. Every other business in town uses them and they are all very pleased. I should have asked more questions to begin with, my fault in the end. Live and learn...

Casey in SD

CBBC · Aug 1, 2013

Mike, I'm up in BC. We have our Credit / Debit Machine through Costco. Thats not saying that Costco has anything to do with it, but because we are members we gat a good deal through ING/INCO or something like that.
Debit transactions are $.15 and credit is 1.6% I believe. I'm sure there are more charges, but I know it was a lot cheaper than the Monaris that my crdit union was offering. Worth checking into.
Grant

Hobo,NC · Aug 1, 2013

I have been taking credit cards 30 years give are take a few years,,, I have been shafted by at least 3 credit card outfits I went back to the bank I deal with they will shaft you also BUT I can at least talk to a real person it normally ends up I don't like it suck it up...

I own my own machine no lease ( a lease is a beach to get out of BTDT) I also had a hand swiper its parked in my desk it the merchant fee's are the same as my electronic machine I don't use it anymore....

Their fee's (anything they can dream up) run about $30 a mo. I pay 2.2% on most cards and 1.5% on some,,, most debits cost me nothing...

The killers are rewards/cash cards, corporate are businesses cards and credit union cards. They hit me for a extra 4% so I charge accordingly for a customer to use them...

I have found it best to deal with your bank and own your own machine. I have thought about using a smart phone with a card reader (I don't have a smart phone) but the numbers look the same as I already pay in the end...

No one is going to do you a favor its about the money :wink:

souNdguy · Aug 1, 2013

what about those CC dongles for smartphones.. ?

J.Wondergem · Aug 1, 2013

(quoted from post at 20:05:21 08/01/13) what about those CC dongles for smartphones.. ?

I have a square for my phone and like it.

souNdguy · Aug 1, 2013

i see those in use more and more at small vendors at shows and festivals. apparrently works pretty good. not sure of the fee's

Tree-Farmer · Aug 1, 2013

One option is Pay Pal, on your computer. No machine needed. It let's you do a one-time or occasional transaction. No monthly fees. The buyer doesn't need a Pal Pay account, they can just enter their info. Or you can enter it for them. You would need a Pay Pal account. The option is "Send someone money." It uses your email address as your account. You only get charged when you use it, when you receive money. I don't know the percentage.

Hobo,NC · Aug 1, 2013

Nutt'n is free... If you send me money Paypal gets their cut out of it I get the shaft.....

Hobo,NC · Aug 1, 2013

Its my understanding it a straight up 2.5%... I ask everyone I see that uses it so far so good it sounds to good to be true,,, I do suspect they do not look at their bill as good as they should tho...

Spook · Aug 1, 2013

We use a device that hooks up to the Iphone or Ipad, sold by Intuit. Same firm does quickbooks, the data can go right in there. 2 plans:

1) 2.7 % and .25 per swipe. No monthly charge.
2) 1.7% no swipe? and $13 per month.

I am not sure about the swipe fee. I think the breakeven between the 2 plans is about 1K per month. Works real good, cheapest thing we found.

Hobo,NC · Aug 4, 2013

I just reviewed my July statement....

Going thru my bank all in said and done my fee's and all the other chit they can dream up came in just a tad under 2.5% of total sales... $40 was their fee's and 11.00 was the discount I was charged on customer CC's (Two) ... all the rest were debit no discount fee's charged to me tho I was charges $11.00 to accept them...

Last mo they were 3.5%,,,it has took a 3 mo are so to figger out the cards they ream my arse on.... I got took for $70 on rewards cards...

If you do less than 2K a mo CC sales I would go with the fixed 2.5% smart phone deal ( that I don't know all the hidden fee's on)...

All you are gonna get from the processors is the discount fee's charged on cards back to ya... Its all the other chit they dream up they don't tell you about...

Network access fees
Merchant compliance fees
VS fee's card present
VS card not present fee's
Debit Network interchange fees
Pin debit authorization fees
Card brand fees
MC and VC non qualified fee's

Theirs more I spec... :evil: :evil:

Royse · Aug 4, 2013

(quoted from post at 20:59:09 08/01/13) i see those in use more and more at small vendors at shows and festivals. apparrently works pretty good. not sure of the fee's

I use the Square dongle on my iPhone too. 2.7% on every swipe.
I very seldom take a credit card. There are no monthly fees, so no
harm if it sets idle and I don't use it.
The only additional fee I know of is if you have to type in a number.
Not sure why that's more, but I think that jacks it to 5%.
Funds directly deposited into the account of your choice.
Customer still has the option of stopping payment, and that comes
out of that account. Probably obvious, but still a precaution.

Hobo,NC · Aug 5, 2013

Have you ran a rewards card if so was the fee still 2.7%... MY deal is sweet if you throw out all the other stuff they dream up... I have found if the deal seams to good to be true its not... Were my deal makes up the difference is no % discount fees on debit cards the others eat me up...

When my cel contract is up I my try a deal like you have just so I can tell the bank to stick it were the sun don't shine... Most banks not do the phone swipe deal but the fee's are outrageous...

souNdguy · Aug 5, 2013

flat 2.7, and no monthly fee.. and no rental on the old mobile cc machine.

sounds like a good deal...

Hobo,NC · Aug 5, 2013

(quoted from post at 17:26:26 08/05/13) flat 2.7, and no monthly fee.. and no rental on the old mobile cc machine.

sounds like a good deal...

It may be a deal if you do not use it much are do less than 2K a mo. ... I keep running the numbers and I am still better off in my situation if I can filter out those pesky rewards cards... Its not a deal either way you look at it :twisted:

davemk · Aug 5, 2013

I use Square. There is no limit on the amount of transactions or dollar amount. No monthly fee and 2.75% of every transaction.

OT Credit Card machines

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