Accepting credit cards

[CountValentine]

Banks charge a high set-up fee ($75 - $100) and then usually another $25+ monthly fee,in addition to a percentage...

IME they will waive these for a local charity or not for profit organization.

[Am]

K - but Intuit only works with actual card swiping, right?

wrong. I use it and key in cc info all the time.
Also, in order to properly answer op more detailed info is needed. How much will be charged per month, will you be swiping cards, will you be doing reccurring payments etc.

[elikay]

Try square.
But make sure you go easy on it until you build up some history.

IME if you set it up properly and you are swiping (not keyeing in) you should not have to build up.

[mgarfin]

Yes i"m proud to be an very knowledgeable agent in credit card processing.

I can give a proposal to anyone willing, pls PM.

Try your local banks.

They'll rip you off and ther usually are not very knowledgeable as this is not their primary job

I like pricing on an effective rate saying your 6 month overall is 4% (all fees included) I will promise to lower that.
 

I think you also get discounted rates based on the level of Quickbooks you have. Not sure about that.

Yes if you can meet level 3 processing standards your interchange will drop by 30 BP.

Intuit has no signup fee and no monthly fee.

A 10$ saving dose not jusfy overpaying 0.5-2% on a decent volume.

[meshugener]

Hey, don't just criticize. If you have what to offer post it in public, if not go screw someone else.

Why don't you post your rates and your fees so we can all see.

what does that mean 'level 3 processing'?

[mgarfin]

Hey, don't just criticize. If you have what to offer post it in public, if not go screw someone else.

Why don't you post your rates and your fees so we can all see.

As all industries there is cost and a markup, an account can get set on interchange + 0 BP and no transaction fee and someone else can set him on interchange + 20 BP and .30 transaction fee and still be cheaper,

The reason is that the MCC coding of business can significantly lower interchange. That takes a knowledgeable agent to figure out the best code code.

what does that mean 'level 3 processing'?

Its a gateway that sends more info lowering the risk and interchange.



Saying this all you can't give all the rates as it very variable but it can be for sure that nobody is giving it for less than cost.

[meshugener]

So how come Intuit has a flat rate for all industries?

[Am]

So how come Intuit has a flat rate for all industries?

they don't. Read the fine print

[mosh.now]

U can try Benchmark (BMS) I know they have special rates for chabad houses/non profits.
swipebms.com

[mgarfin]

So how come Intuit has a flat rate for all industries?

I can give a flat rate too

that just means you make more somewhere and less somewhere else.

But it will be much wiser if you analyse the business and make a offer based on that.

one thing I think is worth mentioning, Debit cards have very low interchange, so if business has a significant amount of debit cards you can make a lot of money on  a flat rate.

[CountValentine]

one thing I think is worth mentioning, Debit cards have very low interchange, so if business has a significant amount of debit cards you can make a lot of money on  a flat rate.

What is it for debit cards?

[mgarfin]

What is it for debit cards?

between .50-1.20% plus 10-25 cent pt

[YitzyS]

I'm not sure if there is another thread for this that is more updated, but if there is, please direct me there (TIA TimT).

I would like to be able to accept credit cards occasionally. It is a sole props, and I would estimate that it would only apply to a few transactions each year. It would never be for physical cards, just key-in numbers. Which website is recommended? I don't want to pay any membership fees, as it may only be a few transactions each year.

Any recommendations?

[AsherO]

I'm not sure if there is another thread for this that is more updated, but if there is, please direct me there (TIA TimT).

I would like to be able to accept credit cards occasionally. It is a sole props, and I would estimate that it would only apply to a few transactions each year. It would never be for physical cards, just key-in numbers. Which website is recommended? I don't want to pay any membership fees, as it may only be a few transactions each year.

Any recommendations?

Square is quick and easy to set up, but the fees aren't the best (3.5% + $0.15/transaction, cheaper if the card is present but that is more complicated), might meet your sweet spot if your transaction amounts aren't too high to justify paying a monthly fee in exchange for what is hopefully better rates.

https://squareup.com/us/en/payments/virtual-terminal

The advantage of going with a fixed-rate processor like Square, Paypal, or some other option, is that your costs are predictable and consistent. If you got yourself a regular merchant account you'd pay different rates based on whether you provide billing address information, whether the address info matches, what card is being swiped, etc.

[Yo ssi]

Keep in mind it's

2.6% + 10¢ for every swiped transaction

[Mf1]

I'm not sure if there is another thread for this that is more updated, but if there is, please direct me there (TIA TimT).

I would like to be able to accept credit cards occasionally. It is a sole props, and I would estimate that it would only apply to a few transactions each year. It would never be for physical cards, just key-in numbers. Which website is recommended? I don't want to pay any membership fees, as it may only be a few transactions each year.

Any recommendations?

since it's only a few transactions, I believe with a referral promotion you can waive fees from square on a certain amount

[YitzyS]

Square is quick and easy to set up, but the fees aren't the best (3.5% + $0.15/transaction, cheaper if the card is present but that is more complicated), might meet your sweet spot if your transaction amounts aren't too high to justify paying a monthly fee in exchange for what is hopefully better rates.

https://squareup.com/us/en/payments/virtual-terminal

The advantage of going with a fixed-rate processor like Square, Paypal, or some other option, is that your costs are predictable and consistent. If you got yourself a regular merchant account you'd pay different rates based on whether you provide billing address information, whether the address info matches, what card is being swiped, etc.

Thanks! I think this fits my needs. I'm willing to pay the 3.5 percent for the few times a year I need to use this.

[TimT]

(TIA TimT)

Doesn’t work without the @

[YitzyS]

Doesn’t work without the @

I did not want to inconvenience you with a ping...

[grodnoking]

Doesn’t work without the @

You do not need an @

Clearly