Have you accepted visa or mastercard since 2004? If so check this out.

https://www.paymentcardsettlement.com/en

a bunch of bullshit fees on top of the 2.54% they take. may not seem like a lot, but it all adds up. For small business it's a lot of money. there's a reason why some small business don't accept American Express and discover. their fee are even higher. although square is a flat fee of 2.75% on all credit cards. now some small business are using them for that reason.

Not only is Amex 5%, but the fuckers hold your money one extra day before funding your checking account.

I look forward to this settlement because a slow month for me is $200K in CC.

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Originally Posted by Big Pimpin

Not only is Amex 5%, but the fuckers hold your money one extra day before funding your checking account.

I look forward to this settlement because a slow month for me is $200K in CC.

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holy shit! I don't even want to know what your total fees are per month. that's got to be out of control.

Did you happen to get the mailer? What about the reserve from the processing companies?

Quote:

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Originally Posted by Big Pimpin

Not only is Amex 5%, but the fuckers hold your money one extra day before funding your checking account.

I look forward to this settlement because a slow month for me is $200K in CC.

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Hell yeah it becomes a lot ! The bottom line for me on several moths was over 5% of my income gone from fees. When I called to complain I got the standard bullshit answer of " Sir your rate is only 2.1 % . I dont give a damn what my rate is if you are taking 50.00 for every 1000.00 I take in thats 5%

Quote:

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Originally Posted by purchasepeptides

Did you happen to get the mailer? What about the reserve from the processing companies?

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just got mine today. it come in a booklet type form. 27 pages. you should get it any day now.

Ya I got it a few days ago thats what inspired me to post this I dont want any of us to miss out! F them

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Originally Posted by Swiper

just got mine today. it come in a booklet type form. 27 pages. you should get it any day now.

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I have 5 cards, $0 balance but in the future I may use them.

They are thieves.

Are you guys that are paying 2+% using a swipe terminal or are you mainly online and phone orders? Reason I ask is my base rate is 1.69% + $.25 per swipe for V/MC. 2.75%+ is fucking crazy! I rarely accept Amex unless it's a promotional period when they offer me a flat $5 monthly charge up to $10,000 per billing period.

Quote:

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Originally Posted by Big Smoothy

I have 5 cards, $0 balance but in the future I may use them.

They are thieves.

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Big Smoothy, where do you keep large lumps of cash? and where do you live? :coffee:

Credit cards (banks) are corrupt as fuck!
I have been accepting Visa/MC since 2005, so I may have to jump on this bandwagon.

PayPal any cheaper?

Not really. Pay pal takes a pretty big hunk of the sales they collect as well.

Sent from my DROID4 using Tapatalk 2

I hope everyone that takes credit cards does. We need to give these tools a good screwing!

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Originally Posted by Prince

Credit cards (banks) are corrupt as fuck!
I have been accepting Visa/MC since 2005, so I may have to jump on this bandwagon.

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Read this especially if you do a lot of online and phone orders. If the card isn't present the responsibility of fraud falls on the merchant.

https://support.authorize.net/authkb...&actp=LIST

I was told fees can be higher if you don't have as much info as possible.

Name as it appears on card, billing address and zip, telephone number, three digit verification #.

Quote:

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Originally Posted by maniclion

Read this especially if you do a lot of online and phone orders. If the card isn't present the responsibility of fraud falls on the merchant.

https://support.authorize.net/authkb...&actp=LIST

I was told fees can be higher if you don't have as much info as possible.

Name as it appears on card, billing address and zip, telephone number, three digit verification #.

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Link isn't working right, try this Merchant Credit Card Fraud - Prevent Minimize Fraud