OT Debit card nKFC

Well last night I got lazy. Didn't feel like cooking so I went to KFC for some chicken. Yes its expensive but paid with my debit card cause the bill was over 10 bucks and all I had was a ten. bill went from 10.09 to 10.59 because I used the card. a .50 sircharge. Told them it won't happen again.

Debit surcharges really get me. Here(in Canada) the retailers are only charged $0.12 per transaction, whether $5 or $1500. Most smaller general stores have a charge of .$25 for under $5, which I don't really mind, but some stores have a $.50 charge, so now your payment method turns into a profit centre. It's becoming less common, as the retailers fight high CC fees, and the only way to do so is offer a discount for using cash and debit. I don't agree with making the retailer pay for the CC fees, as ultimately it puts prices up, for everyone, including those paying with debit and cash.

Being able to accept CC's is a convenience to the retailer, and generally increases their sales. Why shouldn't they pay a fee?

If you pay off your CC every month, you don't pay any fees. The CC company isn't a charity; it has to make money somewhere, especially with so much fraud and default going on these days.

You'd be canceling your CC if you couldn't use it fee-free by paying off the balance every month.

If you won't pay the fee, and the retailer shouldn't have to, then how does a CC company make money?

Yeppers, theres often a price to be paid for "convenience" (or having no cash on us)....... If the store owners pay a fee if customers use plastic, they pass that cost back to us customers, for which I cant blame them, its their business choice. HOWEVER same as you, we can avoid that and save that fee by paying good old CASH on the barrelhead as they say, WE CUSTOMERS ALSO HAVE CHOICES......... Heck we can even refuse to do business with a firm if we dislike their policies

But when I travel all across the USA and have to pay for gas, eats and lodging, Id rather use plastic and pay that fee then carry so much cash......Of course, I pay the bill when due so theres no darn interst yayyyyyyyyyyyyy

I AGREE WITH YOU,,,PAY CASH (as long as practically possible),,,,,SAVE WHAT WE CAN

John T Conservative tight wad and fuddy duddy

Other side of the coin, was in line at a McDonald's, kid in front of me ordered and paid his $5 with a debt card, then forgot he wanted a second beverage for a buck, paid that with the debit card again.

So for a $6 bill, McDonald's likely had to pay the finance company 50 cents in swipe fees and 18 cents in the percentage fee. They sure lost money on that $1 transaction.....

Agree the whole deal stinks, there is a pretty big court case and lots of lobbying going on, as I read last week two very powerful groups are butting heads on this, financial folks against retail folks. The fees are just crazy amounts of money when you add it all up.


Paul

Speaking of KFC,
Went to Chipotle for lunch yesterday and the line was all the way out the door.
So I went next door to KFC - haven't been there for a loooong time.
Ordered a 3 pc meal.
Bill was over $10!!
I wont be back anytime soon.

Same price agreements for cash, credit card, debit cards can"t be upheld since Sears V Master Card 1974(?). Merchant can give cash discounts, discriminate between cards, card handling fees and the card companies that say that is illegal can present their case to supreme court with reference to the 40 year old Sears case. Card company advertisments aren"t full disclosure, merchant policy is main potocol. I know a tire shop that charges 8% for American Express but gives me and some others a bit of cash discount. American express card holder tried taking them to court- the American Express lawyer was fined personelly by the judge for bringing a frivoulous suit and American Express had to pay court cost and defendants legal fees. As long as sales policy and payment policy is posted, customers can make the choice. I finda Visa from credit union handy on the road, paying some bills online, ordering online for some parts, etc, sudden big bills when minimal cash in pocket and the airlines really don"t like to handle cash- so I accept handling fees as part of sale, no complaints and I"ve been on merchants side of counter with slow payments by credit card outfits, rejected transactions even after calling to check card status, higher contract fees after first 6 months use. Payment plans are like beer- legal to use but subject to abuse with a cost at times. RN

We have a KFC here went there about a year ago. They cook the chicken and let it keep warm in a glass box. When I got home the chicken looked like it was cooked hours ago and all dried out. I feed it to the barn cats will never go back.

I assume this was directed at me.

The same way a person using a debit card can be charged a fee, the retailer should be able to charge a person using a CC as well. It's not so much the basic MC and Visa cards that cause the problem, it's the MC and Visa rewards cards and AE/Discover cards, with the high percentage charges. Because the store can't charge the CC users more, they charge everyone more, which means I as a debit/cash user am paying for your travel rewards, cash back, etc. If you cost the business more money for a transaction, they should charge you for it. Should there not be a price for your Air Miles?
Anyways, the retail enviroment is different in Canada. Debit is the most prevelant form of payment, so I'm likely to have a different point of view on the situation.

A buddy of mines wife worked at a KFC 25 years ago when she was a kid. She said that it was the worst most disgusting rat hole of a fast food place she has ever been in. I will never eat there again either. It has been almost 10 years now that I have ate their slop.

Carry CASH and solve the problem,if you want to use their card you pay their fees which is fair enough to me.Fast food is over priced to begin with,you could have gotten a very good roasted whole chicken at Sam's Club for $4.88

Here is a twist. A local McDonalds was paying their employees with debit cards.
One employee said it was costing money (fees) to use the card. The employee contacted an area law firm and they were trying to establish a Class Action law suit. The local McDonalds now gives the empolyees a choice as to how they want to be paid.

Farmer boy, when we were accepting CC's (up to early last year) they were charging us a percentage of the transaction and I would imagine that's probably still the same, plus we paid a monthly fee for x amount of transactions. To encourage greater use, the CC companies offered better rates for higher amounts of transactions. They are a great tool for the holder if handled correctly, but for the retailer they are another cost of doing business. There was one main benefit to us, the money was usually in the bank the same day, but the price was high. If you can't beat em, join em. Their stocks pay well. MK

Federal law states an employer cannot force an employee into a relationship with any other entity for purposes of payroll. Most state laws do not govern such an activity.

(quoted from post at 16:34:44 08/02/13) A buddy of mines wife worked at a KFC 25 years ago when she was a kid. She said that it was the worst most disgusting rat hole of a fast food place she has ever been in. I will never eat there again either. It has been almost 10 years now that I have ate their slop.

Click to expand...

When my wife was working as a nurse for the Blood Donor Clinic here in Canada, she could always identify that a person had KFC for lunch before the donation. The blood had a greasy look to it and some extra yellow stuff floated at the top of the bag of donation blood. Yuk, you say. I haven't had KFC since she told me that many years ago.

Sw

Most fuel stations for trucks charge from 4 cents to 9 cents for using a credit card but some will recognize a debit same as cash but not all.

Jim

Cash or carry. If I don't got the cash, I carry myself on outta there.

(quoted from post at 08:56:58 08/02/13) So for a $6 bill, McDonald's likely had to pay the finance company 50 cents in swipe fees and 18 cents in the percentage fee. They sure lost money on that $1 transaction.....

Paul

Click to expand...

Nope, McDonalds cost on that drink is less than a dime, including cup, lid, straw and ice. They still made money, good money (35% profit after fees and costs is pretty good in my mind) but you have to look at the big picture. How could McDonalds ever say no to a transaction like that? Put a mininum dollar amount on the purchase before you can use a card? Ya, thats not gonna work, every college aged blogger will be up in arms. And you cant forget, when dealing with a business like food, every sale lost is lost forever. As soon as the customer walks away from the counter, they eat (and pay money) somewhere else.... and to McDonalds, thats money lost. McDonalds business plan has been driven on that concept for several decades at least, get customers in the store and have something for every family member because you dont want a family splitting an order with say... Subway. Dispite a few stumbling blocks through the years (remember McPizzas?) it seems to be working quite well for them. Stock is up 11% since Jan 1st with over 3% dividend payout. Taking debit cards, even on small purchases, helps make that happen.