ttfitz Posted November 20, 2019 Share Posted November 20, 2019 Don't know if this is the place for this or not, but anyway.... Went to pay my latest invoice at Heritage Auctions, and discovered they are now charging a 2.5% credit card processing fee. Representative I talked to said they sent out a notice to customers and that it was on the invoice mailed to me, but I did not receive a notice and it's not on this invoice. Thought folks would like to know. Seems like with that hefty 20% buyers premium they could cover what I consider a cost of doing business, but I guess not. ADAMANTIUM 1 Link to comment Share on other sites More sharing options...
Jaylam Posted November 20, 2019 Share Posted November 20, 2019 What I'd like to know is do the credit card companies really charge a business 3% for each transaction or are we all being gouged? Link to comment Share on other sites More sharing options...
Popular Post Buzzetta Posted November 20, 2019 Popular Post Share Posted November 20, 2019 Here on Long Island we have started seeing some restaurants charge a 3% increase to the bill if paying by Credit Card. To me, its amateur hour. Charge more for the food. Raise the price of coffee by a quarter. Do not insult your customer base by charging more for using a credit card. Arak Zantara, comicjack, mec3437 and 5 others 8 Link to comment Share on other sites More sharing options...
ADAMANTIUM Posted November 20, 2019 Share Posted November 20, 2019 3 minutes ago, Buzzetta said: Here on Long Island we have started seeing some restaurants charge a 3% increase to the bill if paying by Credit Card. To me, its amateur hour. Charge more for the food. Raise the price of coffee by a quarter. Do not insult your customer base by charging more for using a credit card. I'm sure their doing both Link to comment Share on other sites More sharing options...
D84 Posted November 20, 2019 Share Posted November 20, 2019 Another reason to not use them. Robot Man, 1950's war comics, Larryw7 and 1 other 3 1 Link to comment Share on other sites More sharing options...
ADAMANTIUM Posted November 20, 2019 Share Posted November 20, 2019 A LCS near me didn't allow purchases under $10 to be paid with a cc for a while anyway.... That didn't last long Link to comment Share on other sites More sharing options...
Buzzetta Posted November 21, 2019 Share Posted November 21, 2019 Culture can be changed... many gas stations by me were charging more for CC than if you paid by cash. People started staying away from those... now more gas stations are back to “same price for cash or credit.” D84, ADAMANTIUM and Antpark 3 Link to comment Share on other sites More sharing options...
Iceman399 Posted November 21, 2019 Share Posted November 21, 2019 I didn't think you were allowed to charge a surcharge on CC. http://www.ncsl.org/research/financial-services-and-commerce/credit-or-debit-card-surcharges-statutes.aspx (which ironically say both NY and Texas have laws against it). Link to comment Share on other sites More sharing options...
bababooey Posted November 21, 2019 Share Posted November 21, 2019 12 minutes ago, Iceman399 said: I didn't think you were allowed to charge a surcharge on CC. http://www.ncsl.org/research/financial-services-and-commerce/credit-or-debit-card-surcharges-statutes.aspx (which ironically say both NY and Texas have laws against it). I thought the same but found this from a year ago. https://www.dallasnews.com/news/watchdog/2018/11/21/texas-law-banning-surcharges-for-credit-card-payments-was-overturned-now-youll-pay-more/ Arak Zantara 1 Link to comment Share on other sites More sharing options...
ADAMANTIUM Posted November 21, 2019 Share Posted November 21, 2019 13 minutes ago, Iceman399 said: I didn't think you were allowed to charge a surcharge on CC. http://www.ncsl.org/research/financial-services-and-commerce/credit-or-debit-card-surcharges-statutes.aspx (which ironically say both NY and Texas have laws against it). I think that's why it didn't last long, although the LCS wasn't a surcharge, they just refused to sell lower than $10 on a cc Link to comment Share on other sites More sharing options...
manetteska Posted November 21, 2019 Share Posted November 21, 2019 Auction houses are a f-ing racket. Link to comment Share on other sites More sharing options...
AJD Posted November 21, 2019 Share Posted November 21, 2019 Ah, the US, where checks (and imperial measures) are still things. Come to the 21st century guys - the last chequebook I had was in 1999 and I've forgotten what a gallon is! Link to comment Share on other sites More sharing options...
theCapraAegagrus Posted November 21, 2019 Share Posted November 21, 2019 I think you can negotiate better rates based on volume of transactions, but 3% is a standard fee for Visa and Mastercard. When I worked at CVS, they were only charged 2.1% by Visa and Mastercard, 2.0% by Discover, and 2.5% by AmEx. Krismusic 1 Link to comment Share on other sites More sharing options...
bronze johnny Posted November 21, 2019 Share Posted November 21, 2019 12 hours ago, Buzzetta said: Culture can be changed... many gas stations by me were charging more for CC than if you paid by cash. People started staying away from those... now more gas stations are back to “same price for cash or credit.” Well said. Had the same experience with a gas station. People stopped getting gas there until the station charged the "same price for cash or credit." Very simple way to deal with this is stop doing business with an entity you believe is overcharging you. This should be especially true with collectibles. Unlike real needs (food, shelter, clothing, etc.) we are talking about "apparent needs" when it comes to collectibles. Link to comment Share on other sites More sharing options...
theCapraAegagrus Posted November 21, 2019 Share Posted November 21, 2019 I am being stalked. Link to comment Share on other sites More sharing options...
namisgr Posted November 21, 2019 Share Posted November 21, 2019 1 hour ago, AJD said: Ah, the US, where checks (and imperial measures) are still things. Come to the 21st century guys - the last chequebook I had was in 1999 and I've forgotten what a gallon is! Paying Heritage by check doesn't come with the surcharge. Link to comment Share on other sites More sharing options...
AJD Posted November 21, 2019 Share Posted November 21, 2019 11 minutes ago, namisgr said: Paying Heritage by check doesn't come with the surcharge. Sure as hell does if you aren't with a US bank. The net result will be fewer international dollars coming in. Link to comment Share on other sites More sharing options...
Transplant Posted November 21, 2019 Share Posted November 21, 2019 3 hours ago, AJD said: Ah, the US, where checks (and imperial measures) are still things. Come to the 21st century guys - the last chequebook I had was in 1999 and I've forgotten what a gallon is! From a purely transaction # volume, Switzerland does 70% of their transactions with cash, not credit. From a CHF perspective, it's about 55% electronic form. But that's because most higher dollar transactions are done through autopay or electronic payments. You almost never see someone use a card at a store. Link to comment Share on other sites More sharing options...
Krismusic Posted November 21, 2019 Share Posted November 21, 2019 17 hours ago, Jaylam said: What I'd like to know is do the credit card companies really charge a business 3% for each transaction or are we all being gouged? I know in Canada working with some accountants.. you have to pay a fee on the visa terminal for us it was like 1% or 2% can't remember but yeah there is a fee using your credit card and a different fee for the debit card. So I have seen this before.. its just the cost of doing business though.. this is why some Chinese restaurants give a discount on the food if you pay with cash as they dont have to pay the terminal fee and to encourage cash sales on pick up or ive seen it where they charge a terminal fee if its under a certain amount to cover the charges they would incur I guess.. Link to comment Share on other sites More sharing options...
Krismusic Posted November 21, 2019 Share Posted November 21, 2019 also recently found this out as was trying to do a large in person purchase and use paypal they charge you a percentage even if your sending money to a friend I think it was 3% an99 1 Link to comment Share on other sites More sharing options...
