Credit card questions

[ProStreetCamaro]

Im not sure where this should go so I am putting it here.

I was wondering how some of you guys go about accepting credit cards? I found a thing from quick books that seems to be a very easy way to do it.

http://www.albanyheadsets.com/dhiticd01152wi.html


Does anybody here use this method? If not what would you guys suggest?

 

[ed2150]

Just be aware that different processing companies have widely differing rates that they charge per transaction. You might want to check with you bank where you have your business account to see what their fees are and what terminal equipment costs to rent or buy.

Different card companies also charge different percentages per transaction with Mastercard and Visa generally being the cheapest. You'll probably want to stay away from Discover and American Express...they have the highest rates, sometimes as high a 6% per transaction last time I checked.

Also, all credit card issuers and processors charge a higher fee if you don't physically have the card there to swipe every time you process a transaction.

Just check out the fee structures throughly so you'll know exactly what it'll cost you to accept credit cards. As long as you can find reasonable fees you may well find it cheaper to get paid by credit card than to deal with the time and expense of statements and slow payers, etc.

 

[ProStreetCamaro]

Just be aware that different processing companies have widely differing rates that they charge per transaction. You might want to check with you bank where you have your business account to see what their fees are and what terminal equipment costs to rent or buy.

Different card companies also charge different percentages per transaction with Mastercard and Visa generally being the cheapest. You'll probably want to stay away from Discover and American Express...they have the highest rates, sometimes as high a 6% per transaction last time I checked.

Also, all credit card issuers and processors charge a higher fee if you don't physically have the card there to swipe every time you process a transaction.

Just check out the fee structures throughly so you'll know exactly what it'll cost you to accept credit cards. As long as you can find reasonable fees you may well find it cheaper to get paid by credit card than to deal with the time and expense of statements and slow payers, etc.

Thanks I am doing some research into that now. This is what my friend wrote me.

"check this out....

First thing you do is you go to ebay and buy a terminal for fairly cheap.

http://cgi.ebay.com/NEW-HYPERCOM-T7...101279866QQcategoryZ55847QQrdZ1QQcmdZViewItem

Then you go to card services international and they will reprogram it for free up to a certain date. You can probably make them do it for free anyway if they want the sale.

http://www.cardservicesales.com

That is who mary uses. You pay a small percentage for people to use a cc so you raise your prices accordingly."

 

[pyrocare]

I have been using Quickbooks for 3 months now and it works real easy.

If you want to use Quickbooks don't purchase the Credit Card Processing Kit though since the per transaction fee is about $0.05 cheaper and the discount rate is 1% to 2% less if you go straight through your Quickbooks Accounting software.

 

[Mow It All llc]

I use paypal merchant services....On my website there are links to pay by Credit Card, paypal charges me 1.9% thats it no hidden fees. ITs easy and the money goes right into you bank account

 

[Mow It All llc]

I use paypal merchant services....On my website there are links to pay by Credit Card, paypal charges me 1.9% thats it no hidden fees. ITs easy and the money goes right into you bank account

 

[HOOLIE]

I switched to processing thru my bank (Suntrust) Picked up Amex....a 'starter' deal with them, the no fees other than $5 a month for up to the first $5,000 in Amex transactions for the year.

Like said, Visa/MC are normally the cheapest to accept, as well as the fastest to send you the money. Discover and Amex typically take a few more business days to get you your money.

 

[buddhaman]

I just use quickbooks merchant service. Costs a little more but makes for half the paperwork.