credit card fees

Works great for me. I use square 3.75%

Yes. If you can't swipe it's 3.75. Usually my credit card clients are also my out of town brides.

I heard about this.  Is anyone (here) going to actually do it? 

Hell yes!

OK so what exactly are you doing? Flat fee or percentage? How much?  How are the customers taking it?

 

I have an open shop so I was thinking about a fee for those small coffee or one cupcake sales but I don't know how well it will go over for larger orders. 

Excellent questions. I can just see some of my clients balking at any extra $$ added to their totals. But the % adds up... too much to absorb into my profit margin.

I think splitting it with them sounds fair. What do you think? 1.75%

In general, I don't like being dinged for the vendors banking fees.  Perhaps factor the cost into your pricing, and offer a discount if people pay with cash?  I know the outcome is the same, but then it doesn't feel like people are having to pay an additional fee just for the privilege of using their credit cards.

Looking at a couple of articles about the issue..

http://www.app.com/article/20130204/NJBIZ/302040092/Your-money-N-J-retailers-could-charge-more-credit-card-transactions-many-won-t

 

This one gives the list of the 10 states where you can't surcharge and it looks like other states are introducing legislation to prevent it.

http://www.forbes.com/sites/moneybuilder/2013/02/07/most-retailers-shy-away-from-credit-card-surcharge/

 

And this article mentions that it is only for credit card and not debit card transactions

http://www.cbsatlanta.com/story/20719106/credit-card-surcharge-now-legal-but-may-not-happen

 

For me, I pay $.65 per debit transaction and $.20 + whatever (variable) % for credit card transactions. The tipping point is at the $25 mark - credit it better below, debit is better above.  If someone hands me a debit card for a $5 tab, I will run it as credit.  If I am charging a surcharge, now the question is $.65 to me or a surcharge to them.  I know it would be very small, but you know how people can get all twisted!  Also it's only on Visa and MasterCard, but not Discover.  I'm wondering if with all the additional training, room for error, potential ticked off customers, and additional paperwork it's too much trouble!

http://knowyourcard.org/articles/checkout_fees

 

OK I've made my decision: no fees for me.

I think that most people are used to having the final price be much higher than the price that gets them to book, whether it be a hotel, rentals, cars, and appliances and such. There are always taxes, convenience fees, disposal fees, early check-in fees, and the like. My cell phone plan was $140 a month for 2 phones and by the time the bill came, the lowest it ever was is $178, after FCC fees and 911 surcharge, and city, county, state taxes and the texting, and picture messages fees. And Katie bar the door when we went over our texts or minutes!!! It's just the way of the world.