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Posted: 3/7/2024 8:56:05 AM EDT
[#1]
Most of the small businesses around here offer a 3-5% cash "discount"
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Posted: 3/7/2024 8:57:35 AM EDT
[#2]
I've got a couple brick and mortar stores that offer a discount with cash payment.
Use a card (credit or debit) and you incur a 4% markup...i.e. the "full" price. |
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Posted: 3/7/2024 8:57:37 AM EDT
[#3]
I would think that it the brick and mortar they could include the 3% in the price.
At auction, they really don't know what the item will sell for. |
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Posted: 3/7/2024 8:57:49 AM EDT
[#4]
Could also be like the inflated shipping charges on eBay; a way to recoup listing/selling fees.
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Posted: 3/7/2024 8:57:56 AM EDT
[#5]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" This what I've seen. |
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Posted: 3/7/2024 8:58:08 AM EDT
[#6]
There is a local Mexican restaurant that charges 6% extra if you pay with a credit card........crazy.
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Posted: 3/7/2024 8:58:26 AM EDT
[#7]
Quoted: I know it costs retailers money every time they run a card, but I never see any places charge the fee to the customers save for one place. Gunbroker. I have bought from lots of online retailers (both gun and non gun related) as well as lots of local brick and mortar stores ranging from large nation wide stores, to small local "mom and pop" stores. None ever charge the cc fee. However it seems 90% of sellers on gunbroker charge 3%. Some I have even seen 4%. So here is my confusion. There are a lot of these sellers on gunbroker that have actual brick and mortar stores. Are they charging the customers that walk in the door in person the 3% fee? Am I just lucky that my local gun stores do not charge that fee, but most places everywhere else in the country do? Or are these sellers charging the 3% fee ONLY on sales on gunbroker and not for customers in their store? Do the CC companies charge a different fee for taking a card online or over the phone, Vs swiping a card at a terminal in the store? I am not really griping about having to pay the fee, I am just confused about why they are charging it, but only at one place? I do see some sellers on gunbroker that do not charge the cc fees and they advertise that in the item listing. You’re paying the fee at the LGS. It’s NOT an added fee. It’s already built into their price. It should not be allowed here for any transaction. Sellers can all build that into their prices. No one knows if they have already built the fee into their prices and collect the extra 3%. So disallow it. Buyers will still be buyers. Sellers will still be sellers. |
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Posted: 3/7/2024 8:59:16 AM EDT
[#8]
Most places structure their prices to account for the credit card fee.
Some places will give you a discount if you pay with cash or check. One of the major LGS in my area does this. |
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Posted: 3/7/2024 8:59:41 AM EDT
[#9]
never noticed the "$5 minimum purchase for CC/debit" signs, OP?
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Posted: 3/7/2024 9:00:07 AM EDT
[#10]
Quote HistoryQuoted: There is a local Mexican restaurant that charges 6% extra if you pay with a credit card........crazy. Some charge a higher fee to process debit cards while credit cards are generally 3%-4%. That 6% is covering all their bases. |
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Posted: 3/7/2024 9:01:21 AM EDT
[#11]
Many years ago I THINK CC companies had vendor terms that wouldn't allow them to pass on the fee to their CC paying customers, that no longer seems to be the case.
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Posted: 3/7/2024 9:02:20 AM EDT
[#12]
Makes me wonder if CC companies have tightened the vice on vendors due to consumers defaulting? Just the other day Biden was touting capping late fees on CC to $8. CC companies don’t want to get a pay cut.
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Posted: 3/7/2024 9:02:39 AM EDT
[#13]
It used to be a violation of the credit card agreement to charge customers the 3%.
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Posted: 3/7/2024 9:03:00 AM EDT
[#14]
My employer just switched to clover.com to process our CC because they add the 3% fee to the sale by charging the customer. Apparently this is a new thing and is supposed to save us a bunch of money.
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Posted: 3/7/2024 9:04:36 AM EDT
[#15]
I bought something the other day and it came to less then the price marked in the store....I asked the clerk how that happened, they give a cash discount.
I have 2 different CC processing companies I deal with daily, one because I have to because it is the only way I can use a certain automation machine, they charge me 4.5% plus a transaction fee plus a monthly fee and a $400 annual subscription fee, my other CC service charges 2.75%. Gun sellers are limited to non-woke CC processors and are getting hosed, they have to recover what they can. Send them a money order if you don't like it. |
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Posted: 3/7/2024 9:06:48 AM EDT
[#16]
Quote HistoryQuoted: Many years ago I THINK CC companies had vendor terms that wouldn't allow them to pass on the fee to their CC paying customers, that no longer seems to be the case. It must have just reached a tipping pint some time ago when the percentage of people paying with cards hit X% and the vendors saw their total cost of fees hit Y. Our CC starting this year is going to stop accepting CC altogether and required either direct bank draft on file of pay by check. CC fees cost them $200,000 last year. |
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Posted: 3/7/2024 9:07:19 AM EDT
[#17]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" Quoted: I've got a couple brick and mortar stores that offer a discount with cash payment. Use a card (credit or debit) and you incur a 4% markup...i.e. the "full" price. Must be a local thing. So far I have not ran across any local retailers in my area doing that. Maybe I am lucky? |
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Posted: 3/7/2024 9:08:09 AM EDT
[#18]
Quote HistoryQuoted: never noticed the "$5 minimum purchase for CC/debit" signs, OP? No, never once seen anything like that. Is that really a thing? |
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Posted: 3/7/2024 9:10:49 AM EDT
[#19]
Quote HistoryQuoted: No, never once seen anything like that. Is that really a thing? Yes...they get charged a debit fee everytime you use your debit card so the transaction has to meet their minimum threshold for them to not take a hit. Small businesses are getting 'fee skimmed' to death. |
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Posted: 3/7/2024 9:14:07 AM EDT
[#20]
Locally, I pay cash when possible. I use a debit card for online or large purchases. I haven't had a credit card in decades. If they charge a fee for using a debit/credit card odds are very high, that I won't be back. I tell them too, sometimes they will not charge it if I'm a regular. A couple times I asked for a Sr. discount and they canceled the charge. In this day, it never hurts to ask.
With all the rampant CC fraud, I can't really blame them though. Nationwide, businesses lose billions. |
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Posted: 3/7/2024 9:14:38 AM EDT
[#21]
Quote HistoryQuoted: You’re paying the fee at the LGS. It’s NOT an added fee. It’s already built into their price. It should not be allowed here for any transaction. Sellers can all build that into their prices. No one knows if they have already built the fee into their prices and collect the extra 3%. So disallow it. Buyers will still be buyers. Sellers will still be sellers. So cash buyers would be paying for fees their transaction doesn't incur? |
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Posted: 3/7/2024 9:14:41 AM EDT
[#22]
Margins are ridiculously tight, in a world where you’re lucky to make 10%, 2.5-3% is huge.
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Posted: 3/7/2024 9:15:07 AM EDT
[#23]
Quote HistoryQuoted: I bought something the other day and it came to less then the price marked in the store....I asked the clerk how that happened, they give a cash discount. I have 2 different CC processing companies I deal with daily, one because I have to because it is the only way I can use a certain automation machine, they charge me 4.5% plus a transaction fee plus a monthly fee and a $400 annual subscription fee, my other CC service charges 2.75%. Gun sellers are limited to non-woke CC processors and are getting hosed, they have to recover what they can. Send them a money order if you don't like it. I would rather pay the extra 3% than pay with a money order. Having to deal with the PO is a nightmare. Ever had a MO get lost in the mail? Have fun getting the money back. You have to PAY them MORE money to get your money back! And you have t wait for like a month before you can even file for the lost MO, then wait longer for them to try and track/trace it. Last one took me 3 months to get my money back after they lost it. And I sent it with tracking! Again, I am not mad about the 3% fee, I was just confused why they only charge it on gunbroker and nowhere else. |
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Posted: 3/7/2024 9:15:13 AM EDT
[#24]
I've got a sign on my wall stating a 3% fee on all CC payments. My customers know why and no one ever complains. If I didn't I'd lose thousands of dollars every year and for a small business that's tough.
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Posted: 3/7/2024 9:15:51 AM EDT
[#25]
i own a retail/service business.
pay up! |
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Posted: 3/7/2024 9:17:44 AM EDT
[#26]
Quote HistoryQuoted: Margins are ridiculously tight, in a world where you’re lucky to make 10%, 2.5-3% is huge. This is the truth of the matter. |
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Posted: 3/7/2024 9:17:48 AM EDT
[#27]
Quote HistoryQuoted: No, never once seen anything like that. Is that really a thing? $5.00 minimum is everywhere here, some CC processors charge a transaction fee plus your rate is set monthly by the amount of your average ticket. If you have a average sale of $100 for the month you pay a lower rate then if you have a $10 average sale. $1.00 sales cost you alot of money. |
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Posted: 3/7/2024 9:17:51 AM EDT
[#28]
Quote HistoryQuoted: Yes...they get charged a debit fee everytime you use your debit card so the transaction has to meet their minimum threshold for them to not take a hit. Small businesses are getting 'fee skimmed' to death. Quote HistoryQuoted: Quoted: No, never once seen anything like that. Is that really a thing? Yes...they get charged a debit fee everytime you use your debit card so the transaction has to meet their minimum threshold for them to not take a hit. Small businesses are getting 'fee skimmed' to death. Yea I know they charge a fee, stated that in my OP. I have just never seen a retailer put up a sign stating a minimum amount to run a card. |
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Posted: 3/7/2024 9:21:20 AM EDT
[#29]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" Same here. |
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Posted: 3/7/2024 9:22:33 AM EDT
[#30]
very common
one way or the other, you are paying it. |
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Posted: 3/7/2024 9:23:18 AM EDT
[#31]
The credit card fees charged to retailers is structured so that the more credit card purchases they handle, the lower the fee that they get charged. Those who swap their debit cards for all their purchases pay this fee on every purchase. The cashless economy is nothing more than a wealth transfer setup.
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Posted: 3/7/2024 9:23:51 AM EDT
[#32]
If you walk in the door and pay a set price the 3% fee is already baked in and they may give you a cash discount.
Not rocket science |
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Posted: 3/7/2024 9:25:30 AM EDT
[#33]
Fuck em and their credit card fee because during COIVD they refused to take cash.
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Posted: 3/7/2024 9:25:35 AM EDT
[#34]
Businesses used to eat the fee because they didn’t have to count cash every night, run the deposit to the bank, lose some of the cash through theft, in short it was worth the 2-3% cost to not handle cash/checks.
As stated at one time you could not pass the fee on, CC companies didn’t want people to not use their card vs cash for the discount. That changed a number of years ago and now many places pass the fee on. Consumers have gotten so used to swiping a card or taping their phone, most probably don’t know how to get cash anymore. If you could offset 3% of the cost of every sale, as a business, you would likely do it. |
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Posted: 3/7/2024 9:26:50 AM EDT
[#35]
Quote HistoryQuoted: I have just never seen a retailer put up a sign stating a minimum amount to run a card. Some do, but if they don't it's because we consider people who buy the $.99 to be the same as a shoplifter (as far as the books go), its just a loss that is unavoidable because people have adopted a lazy lifestyle and can't be bothered to carry a couple of dollar bills to pay for little stuff. Guarantee you this. There isn't a single small business owner who will walk in somebody else's store and buy a $1 item with a ccard. |
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Posted: 3/7/2024 9:27:37 AM EDT
[#36]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" |
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Posted: 3/7/2024 9:27:38 AM EDT
[#37]
Quoted: Do the CC companies charge a different fee for taking a card online or over the phone, Vs swiping a card at a terminal in the store? yes |
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Posted: 3/7/2024 9:28:14 AM EDT
[#38]
Welcome to 2018
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Posted: 3/7/2024 9:29:54 AM EDT
[#39]
Quote HistoryQuoted: Businesses used to eat the fee because they didn’t have to count cash every night, run the deposit to the bank, lose some of the cash through theft, in short it was worth the 2-3% cost to not handle cash/checks. incorrect Just because "some" people used a card, it was never an instant transition of 100% cash to 100% card, so you STILL had to do all of the above, just a small percent less because people were using cards Thankfully, my wife's business is still over 85% cash |
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Posted: 3/7/2024 9:31:05 AM EDT
[#40]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" Same here. |
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Posted: 3/7/2024 9:31:12 AM EDT
[#41]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" This is what our shop does |
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Posted: 3/7/2024 9:32:21 AM EDT
[#42]
In my former business, the government sales switching to credit cards was one of many financial blows. I used to do around one million in sales to various government types, towns, schools, Port Authority, etc. When they switched from paying by invoice to paying by credit card that became a 2-1/2% net loss every year. A $25,000.00 hit.
Shit adds up. |
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Posted: 3/7/2024 9:34:33 AM EDT
[#43]
If a sign saying they're going to charge a % to accept your payment via a card rustles your jimmies the various LAYERED fees listed in a retailers card processor agreement will cause you to blow a blood vessel...
I don't like that shit either |
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Posted: 3/7/2024 9:34:42 AM EDT
[#44]
The charge is very real for businesses that take credit cards. The % of sale depends greatly on things like is it a product or a service, their volume of annual sales and the typical charge amounts. Their agreement with merchant services prohibits businesses from advertising this added fee or offering cash discounts but MS is not policing every vendor, all the time.
One way or the other, the actual sale price incorporates the cost of doing business (otherwise nobody would stay in business very long). If you are given the option for a discount for a more advantageous payment to the vendor, consider it in your decision to buy. |
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Posted: 3/7/2024 9:36:50 AM EDT
[#45]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" Same. |
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Posted: 3/7/2024 9:37:19 AM EDT
[#46]
Some restaurants around here charge a 2-4% fee for using a card, but I get 4% back in rewards, so it washes out. I still use the card, because it’s more convenient.
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Posted: 3/7/2024 9:38:32 AM EDT
[#47]
Quoted: I know it costs retailers money every time they run a card, but I never see any places charge the fee to the customers save for one place. Gunbroker. I have bought from lots of online retailers (both gun and non gun related) as well as lots of local brick and mortar stores ranging from large nation wide stores, to small local "mom and pop" stores. None ever charge the cc fee. However it seems 90% of sellers on gunbroker charge 3%. Some I have even seen 4%. So here is my confusion. There are a lot of these sellers on gunbroker that have actual brick and mortar stores. Are they charging the customers that walk in the door in person the 3% fee? Am I just lucky that my local gun stores do not charge that fee, but most places everywhere else in the country do? Or are these sellers charging the 3% fee ONLY on sales on gunbroker and not for customers in their store? Do the CC companies charge a different fee for taking a card online or over the phone, Vs swiping a card at a terminal in the store? I am not really griping about having to pay the fee, I am just confused about why they are charging it, but only at one place? I do see some sellers on gunbroker that do not charge the cc fees and they advertise that in the item listing. My child’s daycare charges 3.5% if you pay by credit card. Plenty others rolled it into their costs years ago. Some places even have minimmm purchase amounts because of fees. Nothing new. Welcome to 1998. |
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Posted: 3/7/2024 9:39:12 AM EDT
[#48]
You will see more and more of this as time goes on. Bidenomics is killing businesses and they're trying to cut corners everywhere they can.
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Posted: 3/7/2024 9:40:46 AM EDT
[#49]
You have to consider Operation Chokepoint. There are thousands of CC processors. But due to Obama/Holder and Operation Chokepoint there are only a few that will work with gun stores, and do so at an increased rate because they know the gun dealers options are limited. Gunstores and hardcore porn shops are the same category to banks in this regard.
Rates are very different depending on many scenarios. Lets use 2% as the base If the card is present and swiped you pay 3% If the card is present and chipped you pay 2% If the card is present but hand keyed you pay 3.5% If the card is not present you pay 4% if the card is not present and the shipping/billing address doesn't match you pay 5% if the card is not present and only the zip code not billing address match you pay 4.5% If it is a gift card you pay 6% |
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Posted: 3/7/2024 9:42:06 AM EDT
[#50]
Our after school/summer childcare place has been sending emails about CC fees. Starting this summer they are charging 2.6% fee for using a CC. Sucks, but I understand.
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