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Accepting Credit Cards

Discussion in 'General Signmaking Topics' started by Vinylman, Oct 22, 2009.

  1. Vinylman

    Vinylman Very Active Member

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    Who is accepting credit cards as payment for your work?

    Can you make recommendations Pro/Con as to who you are set up with, and do you use any on line services? What is the best rate you are aware of as far as net cost to process?
    Any info greatly appreciated.:thumb:
     
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  2. TheSnowman

    TheSnowman Major Contributor

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    I can't give you all the specifics, but taking cards has allowed me to function WAY better as a business. As of about 6 months ago, I started strictly enforcing the payment up front, or at least at the time of pickup rule. We had EVERYONE and their brother in this town owing us money, and they always took forever to pay, cause they already had the product. It got to the point where it was effecting how I was able to pay my bills, and I'd have to start paying interest on stuff that was late etc.

    Now, they know they'd better bring a check, and if they couldn't get one, they pay w/ a card. I started tacking on just a little more to my quotes for corporations, and people I know will be paying w/ a card. I don't add a "card fee" I just make sure and throw in another $10 on top of my price to cover the fees, not that it really matters anyway. I just mainly raised everything across the board, and that covers the money that I have to pay on their transaction.

    I love taking the cards...hate paying the fees when they are huge, but I get my money, and I haven't had such a hard time running my business having working capital around now.
     
  3. digitalwoodshop

    digitalwoodshop Member

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    I have the most basic deal with my bank business account. They have a company that has everything from the basics to the satellite card machines... I have the most basic..... $5.00 per month plus a % of the sale... I call in the CC in on a phone and punch in the numbers...

    AL
     
  4. Mike Paul

    Mike Paul Major Contributor

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    One of the best things about accepting credit cards is that it is very easy to up-sell jobs because the customer doesn't need to have the cash in his checking account at that time. I usually work off a 3-4 tear pricing system and if someone comes in looking for something basic I'll show them what they could have for a little more $$ and they usually bite.

    If there's a down side it's that most business owners use Business or Corporate rewards/points cards so you will pay 3%+ plus for those.
     
  5. B Snyder

    B Snyder Very Active Member

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    I couldn't operate without it. It's 2009, if a business doesn't accept debit or credit cards it's only hurting itself. If I don't make a single transaction in a month it costs me a total of $20. This never happens. I f someone said there was a way to increase sales 15% and it'll cost you 2-3% wouldn't you jump on that opportunity?
    I recently switched to Elavon from firstnationalmerchants.com after 8 years. Rates are pretty much the same but I needed a new machine that meets all the new security standards and Elavon offered one for free.
     
  6. jiarby

    jiarby Major Contributor

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    80% of my transactions are cc, 15% check, the other 5% is foldin' jack!
     
  7. Pat Whatley

    Pat Whatley Major Contributor

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    I can't tell you what my rate is exactly anymore, I quit bothering with trying to get it down any lower. I just assume I'm paying 3% of each credit card transaction (it's NEVER that high, I'm just playing it safe) It's real easy to justify it...go up on your prices 5%. Nobody will notice it and you'll have covered the loss.

    10 years ago we were doing so few credit card transactions we still ran them through the little manual swipe machine and submitted them to the bank for processing. Now 80% of what we do is in credit or debit cards. It's beautiful...we haven't gotten a returned check back in three years.

    The best part about it for me is that I can get customers to pay a deposit on their card and go ahead and sign our agreement to let me automatically charge the balance when work is completed. No more waiting for checks or chasing people down. I can install the sign in the morning before work, run the card when I get to the shop and the following night the money is in my account. BEAUTIFUL.
     
  8. dman0427

    dman0427 Member

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    *Watching*
    I too would like to know more about what services everyone uses for accepting cc.
    I just switched over to use Quickbooks for accepting cards and after the first month of using it, it looks like they didn't tell me about certain fees! I get hit harder with them than I did from paypals virtual terminal.
    There's gotta be someone who can do better than 3% and $30 a month.

    What else do yall use?

    BUMP for more responses to the OP
     
    Last edited: Oct 23, 2009
  9. OldPaint

    OldPaint Major Contributor

  10. dman0427

    dman0427 Member

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    Houston, TX
    PM sent
     
  11. Just Me

    Just Me Active Member

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  12. parkedcar

    parkedcar Member

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    I started accepting credit cards early summer when I got my iPhone. Merchant Warehouse has an app so I just punch it in on my phone. It's great because I work from home and I usually go to my customer so I can take the card right there. I don't remember my fees exactly but I have a $20 a month min. And I think it's 2.1% or something like that with $.25 transaction fee. It's been greT though and customers will spend more $$$ easily with a cc.
     
  13. ChiknNutz

    ChiknNutz Major Contributor

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    I used MW for a while, but as Mike Paul mentioned, most all cards you will get corporate/gov't cards (at least it's been this way for us). As such, they fall in the mid-qual or non-qual rate which is a bit over 3%. We went away from MW because their mid and non-qual rates were quite a bit higher than what we are using now (QuickBooks billing solutions), though MW's "best" rate was better. However, we almost never saw the "best" rate since most business cards fall outside of that.
     
  14. premiercolour

    premiercolour Sales and services from S. California

    We use paypal virtual terminal. You can virtually charge your customer any where; any time; any amount. j/k. Fee is about $30/month, 2.2% fee of total amount.

    One thing very bad about credit card transaction is that customer can always talk to their bank card company and say " I never permit this transaction". This is pretty much done here. Or even seller has buyer's signature to permit charge( i've never signed no paper from that thief); Even seller has valid UPS tracking number(i never received nothing; if a signature was collected; same story; i've never sign nothing). Where there i dispute; buyer wins about 80-90% of chance. Seller is about 10-20% win if only you are lucky!

    Just my experience to share. We like bank check better. When bigger amount of balance, ask customer to overnight the check ( usually about $20 bucks any where in USA or give your ups account to mail). Then this way, no large transaction fees, no risk of taking( we validate the check before shipping out expensive ones like printhead), no time waiting for money to come into your bank(usually 2-3 business days vs next day check deposit).
     
  15. Edserv

    Edserv Member

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    You have to accept credit cards. We accept online payments as well as allowing our office Customer Service Reps to accept cc's. (Make sure you destroy any paper trails.) In fact, our online merchant is a great source for storing secured cc numbers. We use 1automationwiz.com and I think QuickBooks offers an online storage solution. Trust me, you don't want to store your cc numbers. But PLEASE consider taking cc's. We do about 50% in cc deposits and payments.
    good luck!
    Chris, Lets Go Banners
     
  16. Vinylman

    Vinylman Very Active Member

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    Aug 15, 2005
    Berlin Center, Ohio
    EVERYONE:

    Thank You for your input.

    Do you think it is better to set up your C.C. through your local bank? Or some on line source?
    What or where do you use to handle the C.C. transaction?
    Any recommendations?

    Thanks to everyone who has already responded.
    I hope others are gaining information from this thread as well.
     
  17. Pat Whatley

    Pat Whatley Major Contributor

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    Wetumpka, AL
    When I set ours up one of the local banks offered the best rate...and the credit card service sales chick from the bank was unbelievable hot, so that was a plus.
     
  18. Mainframe

    Mainframe Very Active Member

    I advise using your local bank, I signed up for 10 bucks a month fee at an online company & it quickly rocketed to 25 bucks a month, then it took me 6 months to get rid of them & a bunch of calls & waiting on hold, finally I had to spend 60 bucks to block them from my account (these thugs have full access to your bank account) the block only works for 6 months so I have to change my whole bank account-I recommend your local bank! The place I used is called paynet
     
  19. Berferful

    Berferful Member

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    Check Costco

    The rates seem to be the best. I get banks and others coming in all the time, I show them the Costco statement and they all seem to disappear. You need to be an Executive member.


    Do you think it is better to set up your C.C. through your local bank? Or some on line source?
    What or where do you use to handle the C.C. transaction?
    Any recommendations?
     
  20. threads1

    threads1 Member

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    Jan 31, 2009
    Ocean City, Maryland
    We use Heartland and pay 2.5% for a mail-merchant account and that is a great rate. 2 things to keep in mind. When you process the customers card, you need to get all the info including billing address for the card. If you don't it is considered a non-qualified transaction and an additional 1% will be added. The other thing is you need to ask your bank how long it will take for them to post your transaction to your account. 24 to 48 hrs is normal. Anything longer than that is a rip-off from your bank. (their playing with your money)
     
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