3% added credit card fee

[Marty McFly]

Either way, nice pants.

Thanks. They're khakis

 

[arsco]

Sensible choice.

 

[Marty McFly]

Sensible choice.

Thanks.

 

[drgrant]

Handling and processing cash typically is more expensive or a wash in comparison to debit/credit.

I personally don't use credit cards.

At the rates processors charge? Not sure if serious. Cash is just cash. Plastic is rape for people who have to take it. (which is most businesses these days, otherwise you end up throwing away a lot of your profit. Some popular not-so-expensive food places still get away with cash only, but that's about it.

 

[drgrant]

I own a business that takes cards. I dont add any extra for a card. But I understand those that do. My gun guy gets hit with 3% with his already low margins on new guns. Ill either bring cash or pay the fee. It is fair.
Bigger companies should eat it or adjust the prices up 3% and if someone pays cash its a win

I think most of the bigs do exactly that, their model is based off worst case scenarios, and they just charge accordingly. Of course different businesses get whacked different rates by
processors. For example gas stations tend not to get f***ed as much, at least on gas, because the margins on gas are shit, and know that if the difference was large consumers would simply opt out of plastic when buying fuel.

 

[Marty McFly]

I think most of the bigs do exactly that, their model is based off worst case scenarios, and they just charge accordingly. Of course different businesses get whacked different rates by
processors. For example gas stations tend not to get f***ed as much, at least on gas, because the margins on gas are shit, and know that if the difference was large consumers would simply opt out of plastic when buying fuel.

True. I get hit for 3% plus 30 cents. On a 2k bill ill eat the 60 bucks.

 

[Mesatchornug]

I think most of the bigs do exactly that, their model is based off worst case scenarios, and they just charge accordingly. Of course different businesses get whacked different rates by
processors. For example gas stations tend not to get f***ed as much, at least on gas, because the margins on gas are shit, and know that if the difference was large consumers would simply opt out of plastic when buying fuel.

you say that, but the places around me that differentiate have nearly a 10c delta...or almost 4%

 

[drgrant]

you say that, but the places around me that differentiate have nearly a 10c delta...or almost 4%

for cash/credit for gas prices? That seems like its a big dump city/boston ghetto thing or some BS. You don't see it nearly as much in like say, central mass.

ETA: The other phenomenon I love east of 95 is the money laundering gas stations. Those ones are pretty obvious to the point of being hysterically bad. You find that station thats like way overpriced compared to everything within a mile. That's not a gas station, it's a money laundering front for cash, for somebody....

 

[Junior314]

At the rates processors charge? Not sure if serious. Cash is just cash. Plastic is rape for people who have to take it. (which is most businesses these days, otherwise you end up throwing away a lot of your profit. Some popular not-so-expensive food places still get away with cash only, but that's about it.

You have to pay someone to handle it (risk of theft or them just not taking in the correct amount) then you have to pay someone to count it at the end of the night. Bring it to a bank and deposit it. Depending on the operation there may be paperwork involved with documenting the cash and sales.

I was part of a project at my old company to research the cost of accepting and handling cash after one of my investigations caught a Supervisor at our Middletown NY store stealing over $50k. I understand this is an extreme example but every day stores have “acceptable” amounts of cash that go missing. Add in the loss plus the cost of handling it and 3% is not far off.

 

[Kevin_NH]

I think most of the bigs do exactly that, their model is based off worst case scenarios, and they just charge accordingly.

When buying from a local sole-proprietorship, I'll ask what kind of cash discount they can offer. If they're willing to give me $5-10 off a $500 firearm, then I'll pay cash, otherwise I'll take the +1% kickback from my credit card.

Maybe I am . Or maybe I'm Jake from state farm

They recast Jake again?

 

[Marty McFly]

They recast Jake again?

Yes. I have been recast

 

[drgrant]

You have to pay someone to handle it (risk of theft or them just not taking in the correct amount) then you have to pay someone to count it at the end of the night. Bring it to a bank and deposit it. Depending on the operation there may be paperwork involved with documenting the cash and sales.

I was part of a project at my old company to research the cost of accepting and handling cash after one of my investigations caught a Supervisor at our Middletown NY store stealing over $50k. I understand this is an extreme example but every day stores have “acceptable” amounts of cash that go missing. Add in the loss plus the cost of handling it and 3% is not far off.

If you have a huge business, with lots of moving parts? And lots of dumb people? Certainly could be a factor... but for small businesses? Cash handling isn't a big deal. It ends up being a huge benefit, to not get constantly raped on fees. If you have stores where drawers are constantly way under on cash, that's just f***ed.

 

[Junior314]

If you have a huge business, with lots of moving parts? And lots of dumb people? Certainly could be a factor... but for small businesses? Cash handling isn't a big deal. It ends up being a huge benefit, to not get constantly raped on fees. If you have stores where drawers are constantly way under on cash, that's just f***ed.

Happens all the time big and small. Again it’s not just theft and error. It’s time spent counting, processing bringing it to the bank.

 

[gunofthrones]

3% is what credit card companies charge the shop. So they are putting the fee on you and you can choose to pay cash.

 

[Marty McFly]

Im more than happy to eat the fee when I can get a homeowner to swipe my pos and charge 5k rather than waiting 30 or 60 days for payment

 

[gunofthrones]

Im more than happy to eat the fee when I can get a homeowner to swipe my pos and charge 5k rather than waiting 30 or 60 days for payment

I would just pay cash and give the gun shop the option to report the sale or let it slide.

 

[Marty McFly]

I would just pay cash and give the gun shop the option to report the sale or let it slide.

Absolutely. I agree. As a person that understands the issue. You do. But most don't apparently

 

[Mesatchornug]

for cash/credit for gas prices? That seems like its a big dump city/boston ghetto thing or some BS. You don't see it nearly as much in like say, central mass.

ETA: The other phenomenon I love east of 95 is the money laundering gas stations. Those ones are pretty obvious to the point of being hysterically bad. You find that station thats like way overpriced compared to everything within a mile. That's not a gas station, it's a money laundering front for cash, for somebody....

Oh, definitely. Talking Medford/Somerville.

There are two of the latter station on 16 between me and Rt 2, I have always just laughed as I drive by, especially when there was another shop literally next door to one of them that usually ran 20c+ cheaper.

 

[Zappa]

If it is convenient, why charge a convenience fee?

Ask Ticketmaster, they're the world champions when it comes to charging exorbitant "convenience fees".

 

[Marty McFly]

Ask Ticketmaster, they're the world champions when it comes to charging exorbitant "convenience fees".

My town charges convenience fees to pay regular bills. Total faggotry

 

[Marty McFly]

for cash/credit for gas prices? That seems like its a big dump city/boston ghetto thing or some BS. You don't see it nearly as much in like say, central mass.

ETA: The other phenomenon I love east of 95 is the money laundering gas stations. Those ones are pretty obvious to the point of being hysterically bad. You find that station thats like way overpriced compared to everything within a mile. That's not a gas station, it's a money laundering front for cash, for somebody....

Exactly

~ squeegee

 

[AHM]

4s has 2 prices...cash/debit and credit card.

The last time I was there the cash discount was for guns.
Definitely not for tidbits.
And I think not for ammo.

For all I know, they broadened the rule since then.

But it wouldn't be nice for someone to think they can flounce in
and flash cash for a discount if it's a non-discount item.

 

[Buck F]

We stopped accepting cash payments in 2011. All of our insurance companies bill the client directly so they should make the payment to the insurance company. People would still come in once a month w cash, without their invoice. The time we spent 1. Handling the payment w the customer, 2. Remitting payment to the insurance company & 3. reconciling our bank account was ridiculous. We went from a ten page bank statement to a 2 page bank statement. Went from doing 2-3 deposits,per week to 1-2 per month. Some of our insurance companies charge a fee if you pay by credit card.

I generally avoid places that don’t accept CCs because I don’t carry much cash and because I find it penny wise & pound foolish. People will generally spend more if they can pay w a CC. I don’t have a problem w some businesses that offer a cash discount but for whatever reason when gas stations that have two prices at the pump it goes up my ass sideways. If I’m paying a contractor or sole prop I’ll ask if they give a discount for cash and will pay them that way if they prefer it. I charge all of my business expenses, to the tune of around 7-10k/mo and I get a 1.5% cash back, it’s not an insignificant amount. My personal cc bill can be anywhere from $2-5k/mo and I also get 1.5% back on that (sometimes more depending on what type of purchase). I get well over a grand per year cash back from my cards and I don’t pay a dime to use them since they get paid in full via automatic deduction every month.

If you’re a business, include it in your pricing and give cash discounts if you feel like it. I will avoid anywhere that charges extra for using a CC.

 

[drgrant]

We stopped accepting cash payments in 2011. All of our insurance companies bill the client directly so they should make the payment to the insurance company. People would still come in once a month w cash, without their invoice. The time we spent 1. Handling the payment w the customer, 2. Remitting payment to the insurance company & 3. reconciling our bank account was ridiculous. We went from a ten page bank statement to a 2 page bank statement. Went from doing 2-3 deposits,per week to 1-2 per month. Some of our insurance companies charge a fee if you pay by credit card.

In that line of business I can see why cash would be stupid, especially given that a tangible product is not going over the counter. Esp given that you can hand them a check and they just
do an EFT or whatever or simply deposit it.

I generally avoid places that don’t accept CCs because I don’t carry much cash and because I find it penny wise & pound foolish. People will generally spend more if they can pay w a CC. I don’t have a problem w some businesses that offer a cash discount but for whatever reason when gas stations that have two prices at the pump it goes up my ass sideways. If I’m paying a contractor or sole prop I’ll ask if they give a discount for cash and will pay them that way if they prefer it. I charge all of my business expenses, to the tune of around 7-10k/mo and I get a 1.5% cash back, it’s not an insignificant amount. My personal cc bill can be anywhere from $2-5k/mo and I also get 1.5% back on that (sometimes more depending on what type of purchase). I get well over a grand per year cash back from my cards and I don’t pay a dime to use them since they get paid in full via automatic deduction every month.

If you’re a business, include it in your pricing and give cash discounts if you feel like it. I will avoid anywhere that charges extra for using a CC.

Well, most of the time anyplace at retail that "charges more for using a CC" is often violating their vendor agreement, if they do this "literally". Like you can't have a price tag on
something that says $9.99 and then you pay at the register with a card and the clerk is like "oh, but you using plastic, you pay $12.00! " That would piss me off too, and I usually
tend to carry cash regardless.

 

[mac1911]

If the state can add a convenience fee for card transactions why can't private

your paying for the convenience of the web site, vs going to town hall, bait shop ect ect

 

[AHM]

OTOH, you can use credit cards as a brush-back pitch against retailers.
(The Radio Shack anecdote).

That's @SHOCKNAWE's 5-Jul'19 "Cash only Rant *Updated*" thread,
and my post there is chock full o' anecdotage.

 

[rali]

If the state can add a convenience fee for card transactions why can't private

Conflicting laws

1) It is illegal for a business to surcharge for using a credit card. Business is allowed to DISCOUNT for paying cash. This was put in place as a mechanism to prevent screwing customers over by handing them an invoice for more than the listed price of <thing>. Boch should be prosecuted but Maura’s too f*cking busy submitting amicus briefs in every other state to do her f*cking job in this one.

2) It is also illegal for gub’mint to accept less than face value for payment of taxes and fees. This is to prevent sweetheart deals for the town clerk’s best bud. So if you pay a RE tax bill online with a cc they HAVE to pass along the cc surcharge. Of course, to do that, they needed to exempt themselves from law #1.

Boch were total retards. Should pad the bill by 5% and eat the 3%.

WCVB “Ben has your back” segment was just as retarded. Failed to get most of the facts correct. Shocked by this, I am.

 

[nutsym16]

Maybe one of your ex's will expound you.

 

[CrackPot]

My cc processor charges a flat rate. They are a gig economy processor. They lose money on some transactions and make money in others. Actual rates are variable. If you have 2% back then that is passed on. Old school processors pass on all fees. You never know what the cost will be until you get the monthly statement.

All my pricing is cash out the door. When I advertise I show the break down as price + tax = bignum. Then cash + tax = roundnumber. Most people pay roundnumber with cash. Some pay bignum with plastic which is 3% higher.

It’s a straight pass on of cost. People get to decide. I can also take echeck for 1%. But it has to be represented as a cash discount to comply with the law. Effing nanny state laws.

 

[namedpipes]

....
I wanted new wheels for the car, I could have gotten them locally for 140 each, there was a dealership 90 minutes up the road that was willing to do it for $95 each and take my Florida resale tax number saving me another 25 bucks in sales tax. To save $200 bucks I'll take the trip as I didn't have anything else to do.

You paid retail for four tires you planned to resell? How much do tires sell for in Florida?!