What is it with PC stores and the 2% credit card surcharge? Options

[Caelum]

Security isn't free.

That's why I choose to pay an annual fee to hold a credit card.

And why the retailer charges you an amount too. Providing that (secure) payment service does not come at no cost.

[ReapermanRS]

Security isn't free.

It costs a buck o five

It costs folk like you and me

[nesquick]

Honestly I still don't know why people have credit cards, all it does is encourage you to spend what you don't have, maybe for an emergency like if your cars engine gets rooted but for buying pc parts? just go in with cash if your a tight arse and don't want to pay the 2% fee...

[robzy]

Honestly I still don't know why people have credit cards, all it does is encourage you to spend what you don't have, maybe for an emergency like if your cars engine gets rooted but for buying pc parts? just go in with cash if your a tight arse and don't want to pay the 2% fee...

Some people have self control. They don't spend more than they have, and actually reap some benefits from the card, if not just convenience and superior protection.

Rob.

[strifus]

Honestly I still don't know why people have credit cards, all it does is encourage you to spend what you don't have, maybe for an emergency like if your cars engine gets rooted but for buying pc parts? just go in with cash if your a tight arse and don't want to pay the 2% fee...

Some people have self control. They don't spend more than they have, and actually reap some benefits from the card, if not just convenience and superior protection.

Rob.

Id have to agree with Robzy on this. However, and I am not sure if anyone has pointed this out already, Umart (to my knowledge at least), doesnt charge anything if you use your ATM card and I am pretty sure most places dont charge a percentage surcharge or have minimums although I am aware that a handful of retailers actually do. I mean, whats the big deal. That's 2% out of every 100AUD. Which means, my purchase of the CM Cosmos II Ultra Tower (which goes for 368AUD), means I am paying something like an extra 7AUD. I dont know about you guys but it costs a bit more than that if you picked it up from Umart using public transport. I dont drink much anymore personally, but I know most Australians spend more on alcohol in one night but are tight arse when it comes to paying a surcharge of 2AUD to every 100AUD?

I must add that this is in no way an attack on anyone personally, especially not against you nesquick.

This post has been edited by strifus: Jun 17 2012, 12:13 PM

[nesquick]

Honestly I still don't know why people have credit cards, all it does is encourage you to spend what you don't have, maybe for an emergency like if your cars engine gets rooted but for buying pc parts? just go in with cash if your a tight arse and don't want to pay the 2% fee...

Some people have self control. They don't spend more than they have, and actually reap some benefits from the card, if not just convenience and superior protection.

Rob.

I have the same protection on my visa debit card, its free every year and I don't have to worry about finding the money to pay a CC bill.

[Opy]

Honestly I still don't know why people have credit cards, all it does is encourage you to spend what you don't have, maybe for an emergency like if your cars engine gets rooted but for buying pc parts? just go in with cash if your a tight arse and don't want to pay the 2% fee...

Variables come into it. A lot of people take out just enough cash from the ATM to last them a few days. So they are using the ATM a lot and getting charged each time, or at least each time after the first few free transactions. Compared to people living off credit cards that have a 55 day no interest period and reasonable annual fee (I don't get a fee at all on mine) you can see long term benefits on using the credit card for everything possible and ensuring you pay it off before you get charges.
Or, you could take out a pile of cash just twice a month and live off that. If you lose it, you lose it, though. If you lose your credit card, report it immediately then you have a period of time where you are waiting for a replacement, but you don't lose money even if it is being used by some thief as the bank (and police) are aware it's not you.

There are pros and cons for everything. Find a balance that works for you. I prefer credit card for almost everything, I'll pay the 2% 'almost' happily for the convenience.
You may want to micro manage your money better than me. Calculate all the fees and surcharges and see which method will save you the most in the long run.

My preference would be stores advertising a standard price which happens to include the surcharge and cash payers get a 2% discount. Same result, just worded in a more positive way.

[GhostFaceKilla]

What about the case where your not using a credit card - but using your atm card or a debit card - ie using your own cash? I just went to my local corner shop to be some ciggies and he said "i need to add another 30 cents for an eftpos transaction"? I told him to shove it and he said "well ok because your a regular customer . . .".

I think there is something fishy going on. The banks are encourgaing us to use cards everywhere - but clearly they are making a shit load of money out of it . . . pricks.

[strifus]

What about the case where your not using a credit card - but using your atm card or a debit card - ie using your own cash? I just went to my local corner shop to be some ciggies and he said "i need to add another 30 cents for an eftpos transaction"? I told him to shove it and he said "well ok because your a regular customer . . .".

I think there is something fishy going on. The banks are encourgaing us to use cards everywhere - but clearly they are making a shit load of money out of it . . . pricks.

I think that's the way things have to be. After all, they are offering us their services and truth be told, if I was a shareholder of said bank who was giving away all my services for free, then I am not going to see much return for my investment. On the other hand, as a bank customer, I hate the fact that in some cases I have to pay a fee for taking out cash or pay for goods and services because I might not have enough cash on my person or that you just cant withdraw that much cash in a day, or for whatever reason. I just put it up to it being life, I dont really much mind about that. What I do mind is that my bank sometimes charges me reverse charges fees. I mean, WTF. Reverse charges on what? I always have more than enough cash in my bank account to take care of any transaction that I might make, yet here they are, charging me for reverse charges and dont even say why.

[nesquick]

What about the case where your not using a credit card - but using your atm card or a debit card - ie using your own cash? I just went to my local corner shop to be some ciggies and he said "i need to add another 30 cents for an eftpos transaction"? I told him to shove it and he said "well ok because your a regular customer . . .".

I think there is something fishy going on. The banks are encourgaing us to use cards everywhere - but clearly they are making a shit load of money out of it . . . pricks.

normally its like minimum $10 for eftpos, your store must be owned by a tight arse though cause most packs of cigs start at like $10ish for a pack of 20's no name brand.

[Harmonic Cacopho...]

1932
>smoking
I seriously hope you guys realise cigarettes are good for your health and are an effective treatment of asthma and sore throat

[GhostFaceKilla]

What about the case where your not using a credit card - but using your atm card or a debit card - ie using your own cash? I just went to my local corner shop to be some ciggies and he said "i need to add another 30 cents for an eftpos transaction"? I told him to shove it and he said "well ok because your a regular customer . . .".

I think there is something fishy going on. The banks are encourgaing us to use cards everywhere - but clearly they are making a shit load of money out of it . . . pricks.

normally its like minimum $10 for eftpos, your store must be owned by a tight arse though cause most packs of cigs start at like $10ish for a pack of 20's no name brand.

Marlboro Lights pack of 20's are $14.50 at the local corner store. At the servo they charge $15.20. Best cigarettes ever.

What about the case where your not using a credit card - but using your atm card or a debit card - ie using your own cash? I just went to my local corner shop to be some ciggies and he said "i need to add another 30 cents for an eftpos transaction"? I told him to shove it and he said "well ok because your a regular customer . . .".

I think there is something fishy going on. The banks are encourgaing us to use cards everywhere - but clearly they are making a shit load of money out of it . . . pricks.

I think that's the way things have to be. After all, they are offering us their services and truth be told, if I was a shareholder of said bank who was giving away all my services for free, then I am not going to see much return for my investment. On the other hand, as a bank customer, I hate the fact that in some cases I have to pay a fee for taking out cash or pay for goods and services because I might not have enough cash on my person or that you just cant withdraw that much cash in a day, or for whatever reason. I just put it up to it being life, I dont really much mind about that. What I do mind is that my bank sometimes charges me reverse charges fees. I mean, WTF. Reverse charges on what? I always have more than enough cash in my bank account to take care of any transaction that I might make, yet here they are, charging me for reverse charges and dont even say why.

Yeah but it is the shop that is providing the service as a service and incentive to their customers. THEY are paying to rent the machine and the cost of that, as a fixed cost shoudl be reflected in the prices for goods. And usually allready is. Why am I then charged again to use it? Especially if you are in a situation where you have no choice. Again this is an example where as much of the cost, laibiliy and risk can be piled onto the consumer. Getting cash from the ATM doesnt help - I get charged 2 or 3 $ doing that as well. Dont forget it is the BANKS that are promoting services such as EFTPOS!. Not retailers. However it is banks that are promoting the benfits of using credit cards in conjunction with major retailers like Coles.

Basically we are being totally ripped off by the banks as it is with things like atm fees and online transaction fees and all the rest. And now we further have shops getting in on the action as well.

I am sure there must be a regulation somewhere thats says that retailers CAN not ask for an additional charge by a consumer to use an eftpos machine. Set a minium amount. Ok.

This post has been edited by GhostFaceKilla: Jun 17 2012, 04:43 PM

[nesquick]

1932
>smoking
I seriously hope you guys realise cigarettes are good for your health and are an effective treatment of asthma and sore throat

Not sure if this was partially directed towards me but I don't smoke I just know how much they cost cause I serve them to people as part of my job.

besides who gives a fuck, if someone wants to do it who am I to say otherwise, likewise some 200kg person wants to chow down on maccas who are we to say they can't?

This post has been edited by nesquick: Jun 17 2012, 05:11 PM

[Harmonic Cacopho...]

They're not fat though, they're just bulking.

[Devilsmurf]

1932
>smoking
I seriously hope you guys realise cigarettes are good for your health and are an effective treatment of asthma and sore throat

Not sure if this was partially directed towards me but I don't smoke I just know how much they cost cause I serve them to people as part of my job.

besides who gives a fuck, if someone wants to do it who am I to say otherwise, likewise some 200kg person wants to chow down on maccas who are we to say they can't?

Who are we really kidding nesquick ? The internet is full of people just waiting to shit on other people for their life choices. I swear to god there isn't enough sand in the world for all the glass needed to build houses on the internet.

[SquallStrife]

THEY are paying to rent the machine and the cost of that, as a fixed cost shoudl be reflected in the prices for goods. And usually allready is.

If you're being asked to meet the cost of the transaction, then perhaps it isn't.

Look at it from the other perspective: If you wanted to use cash, wouldn't it be nice if your purchase turned out cheaper because your transaction didn't incur any fees for the merchant?

Discount for cash, surcharge for credit, to-may-to/to-mah-to.

I am sure there must be a regulation somewhere thats says that retailers CAN not ask for an additional charge by a consumer to use an eftpos machine. Set a minium amount. Ok.

Pfft. They could charge you for the privilege of walking through their door if they really wanted to.

This post has been edited by SquallStrife: Jun 18 2012, 08:18 PM

[drago13666]

What would you prefer paying 2% extra when you pay on card, or have everything 2% more expensive and have no extra charge?

A lot of retailers will give a discount if you pay cash (good guys advertise the fact, but I've also had personal experience of this occurring at myers, harvey norman, dick smith and JB HI-fi),
I wouldn't be surprised if they weren't just removing the costs they incur with processing electronic payments.

personally I prefer not having to barter with them to get a reduced price when paying with cash.

I am sure there must be a regulation somewhere thats says that retailers CAN not ask for an additional charge by a consumer to use an eftpos machine. Set a minium amount. Ok.

Pfft. They could charge you for the privilege of walking through their door if they really wanted to.

And they do, Costco springs to mind. $60 membership fee for the priverledge of entering their store.

[tantryl]

I'm registered my interest to Westpac's new PayWay On The Go, just out of interest on their pricing. If I qualify or whatever, I'll let y'all know how the pricing goes down for a small business.

[tantryl]

Here 'tis:



So: start-up fee, $22/month + $0.33 per transaction + 1.35% of sale, plus up to $22/month more depending on how much you use it.

It's slightly better than it used to be, the percentage has gone down a little. But there it is.

If I didn't charge the clients for it this would probably end up costing me somewhere between $1,000 and $1,500 per year. I'll stick with cash, cheque, DD & internet transfer, thanks.

This post has been edited by tantryl: Jul 31 2012, 04:39 PM

[The Tick]

Pretty much what I mentioned a little way back - $44 per month even if you don't use it.