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Posted: 3/7/2024 11:20:26 AM EDT
[#1]
Not just stores, watch your utility bills if you pay them with credit/debt card online, a lot of them now add a "convivence fee" for the privilege of them not having to deal with a check sent to them in the mail.
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Posted: 3/7/2024 11:22:35 AM EDT
[#2]
so on gunbroker if you set the cc fee to 3%,it will take 3% from your total so lets say item+SH then 3%. so gunbroker loves to collect fees so any of the tax and compliance fee what ever they take is not included in the 3% so there milking ur transaction your essentiallying paying out of ur pocket to allow GB to collect the fee. thats why some places on GB moved it to 3.5 or 4%
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Posted: 3/7/2024 11:22:53 AM EDT
[#3]
The last time I bought a gun from Gunbroker the seller had me pay his Gunbroker fees, CC fees, shipping higher than expected. All said and done it was like an additional $250 over the winning bid on a $1500 rifle.
Fuck that shit. I've been buying and selling on Gunbroker since 2006 but 2022 was my last purchase. |
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Posted: 3/7/2024 11:22:57 AM EDT
[#4]
The credit card processor we use for the gun store adds the fee on automatically and charges it to the customer.
We as the retailer aren't charged it at all. It shows up as a separate line on the receipt. |
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Posted: 3/7/2024 11:27:39 AM EDT
[#5]
yes, CC processors charge retardedly high fees for online and over the phone transactions
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Posted: 3/7/2024 11:31:01 AM EDT
[#6]
If the place charges a fixed rate and you're for whatever reason stuck using them, use an Amex. Amex has the highest fees, and my .02 are also the easiest ones to work with should there be any issue.
I can see both sides of this but in general I think the vendor should just consider the fees in their prices, unless they are going to go through the effort of defining the actual cost for each type of card vs. a cash price. |
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Posted: 3/7/2024 11:32:03 AM EDT
[#7]
GB charges sales tax on the complete price, which is BS because the seller is paying sales tax when shipping. GB doesn’t seem to care, I think they are pocketing the money.
Just like some, most, asshole restaurants that put the little tip cheat sheet at the bottom. They are basing the tip on the complete bill, you’re not supposed to tip on tax. |
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Posted: 3/7/2024 11:32:37 AM EDT
[#8]
I work in an industry that is somewhat tied to cc processing.
For the past 20 years, credit card fees were pretty much stagnant. In the last 3 years that has changed. We are seeing a transition by the merchant service providers where they are constantly raising rates for their merchants (business that take credit cards). I occasionally see our clients' statements. I saw a statement recently with a notice on it that their processing fee was going to be increasing by 0.55%. (that's a huge amount compared to previous decades). Additionally, merchant service providers are shifting to a bi-annual fee review structure, meaning that their clients may see fee increases every 6 months. Another thing I see are monthly account fees, which are often referred to as "junk fees" in the industry. I saw a customer with 5 merchant accounts who was paying a $14.95/mo paper statement fee for each; that's $74.75/mo and $897/year in a fee that someone just basically made up. Yes, I know that it costs money to mail out a statement, but at the same time, companies have been doing that forever, so the infrastructure obviously exists, and they are likely trying to phase it out. I see things like "settlement fee" - well, to have a credit card account, you have to do settlements; so the processor just invented some monthly fee of $29.95 to do what they have to do anyway. In the end it is a way to hide fees from the business/merchant, they are offered an effective rate of 3.29% card processing, but don't realize that when they add in the extra $75 in fees, their effective rate is actually 3.73% (effective rate is basically your monthly total processed transaction dollars divided by all your monthly fees and processing fees.) It's like buying a car at 5% interest rate, and paying the bill which also has a $39.96 service fee - is your interest rate really 5% when you add in the extra $479.52 in fees each year? That might make your effective rate over the life of the loan closer to 6.0%. |
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Posted: 3/7/2024 11:32:45 AM EDT
[#9]
Quote HistoryQuoted: No, never once seen anything like that. Is that really a thing? Really common in touristy areas where people are likely to buy a single bottle of water or pack of gum or whatever. Also common in poor areas, corner shops. |
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Posted: 3/7/2024 11:34:07 AM EDT
[#10]
You'll all be happy to know that the average MSC (Merchant Service Charge) in Europe
is considerably lower than here in the US. Mostly because interchange rates are regulated by the EU. So when you use your Visa, MasterCard or whatever, the rates we pay are subsidizing the much lower rates in Europe. Isn't being the world's piggybank fun!!!??? |
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Posted: 3/7/2024 11:35:40 AM EDT
[#11]
Another reason I don't understand the unwillingness to embrace cryptocurrency.
I can settle a transaction with Algorand or Cronus coin faster than a card authorization for pennies. For example the last CRO transaction I made was for just over $1k and it cost $0.13. ALGO similar transaction for $0.19. What's that, 0.015%? |
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Posted: 3/7/2024 11:40:12 AM EDT
[#12]
Quote HistoryQuoted: Its funny how the government wants to protect you from junk fees , yet they charge an extra 3% to pay pretty much any government fees or taxes with CC many times forcing you to only be able to pay online so no way to avoid it The Durbin Amendment also authorizes the Board to allow for an adjustment to such interchange fee in an amount that is reasonably necessary to make allowance for costs incurred by the debit card issuer in preventing fraud in relation to debit card transactions involving that issuer." So the Fed dictated that the cards and processors could not make as much money on debit cards, so the banks determined they would just make it up in credit card fees |
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Posted: 3/7/2024 3:57:36 PM EDT
[#13]
Quote HistoryQuoted: You are willing to accept the unknown because you believe the known cost of accepting customer cash was too much? Thats an odd trade. Now tell me about the "unknown" of CC disputes and charge backs. |
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Posted: 3/7/2024 4:08:03 PM EDT
[#14]
At my business my average transaction is $12. It costs me right at 4.1% in fees. For a vending machine or small ticket item at a C-store CC fees could easily be 10% of the purchase price, even more.
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Posted: 3/7/2024 4:12:55 PM EDT
[#15]
Quote HistoryQuoted: Many restaurants around here have started doing it, varying from a percentage to just a flat couple of bucks, I’m not pleased about it. They are just nickel and diming people, the fees are built in. So you . Most trade services (plumbing, hvac, etc) have been doing it for a long time. The amusing thing about the former, I remember years ago when businesses were discussion going all credit/debit because then they didn’t have to handle cash (theft, bank trips, accounting), they sure did a turn aroubd on that one. That is advanced stupid. Then why are you using your debt card! The money comes directly out of your account when you make a charge… Then you raise the issue of “rampant CC fraud.” I have a friend who thinks all discombobulated like you, I warned him. His debit card got skimmed, he learned his lesson when he tried to withdraw money on a Friday night and didn’t have any. The bank doesn’t automatically put the money back in your account. Get a CC, let any fraud be the CC’s problem. So you take your frustration at a company policy out on the server, that makes sense |
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Posted: 3/7/2024 4:14:45 PM EDT
[#16]
Quote HistoryQuoted: If the place charges a fixed rate and you're for whatever reason stuck using them, use an Amex. Amex has the highest fees, and my .02 are also the easiest ones to work with should there be any issue. I can see both sides of this but in general I think the vendor should just consider the fees in their prices, unless they are going to go through the effort of defining the actual cost for each type of card vs. a cash price. Amex is also the slowest to remit payment to the business |
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Posted: 3/7/2024 4:16:28 PM EDT
[#17]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" This. LGS has signs advising customers there's an upcharge for plastic. |
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Posted: 3/7/2024 4:19:00 PM EDT
[#18]
We charge 3%. I deal with large projects and sometimes will have customers put $250,000 on their card. I get charged 3%. I'm not giving up $7500 in profit because you want your airlines points on your AMEX. If that doesn't work, I happily accept checks, ACH, or first born children.
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Posted: 3/7/2024 4:22:46 PM EDT
[#19]
I've noticed it a lot they run your debit card as a credit card and charge you a fee
I'm going to start calling them on it in the future fuck them ,ever since covid it seems businesses or out to fuck whoever they can I'm tired of the bullshit . |
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Posted: 3/7/2024 4:31:38 PM EDT
[#20]
If a seller wants to charge a credit card fee, I offer to pay cash.
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Posted: 3/7/2024 4:36:17 PM EDT
[#21]
Everywhere I have purchased a gun in my area, they never charged me an extra 3%. Gunbroker seems to have many vendors who do it but there are some who do not. 3% doesn't seem like so much but when you add it to a $1-2,000 + gun, it adds up.
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Posted: 3/7/2024 4:38:08 PM EDT
[#22]
Quote HistoryQuoted: So cash buyers would be paying for fees their transaction doesn't incur? Quote HistoryQuoted: Quoted: 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? At one time, yes they were. The CC processing fees were low and considered part of overhead. Fees increased and business owners could no longer ignore them. They also could not just hide the fee across all the inventory because the margin in the small gun store is thin [big stores can get away with charging MSRP]. To keep prices appearing low, the CC fee had to be passed on as an extra. |
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Posted: 3/7/2024 4:39:09 PM EDT
[#23]
Here are few comments from my customers:
"home depot doesnt charge me fees!" "no one carries cash or checks anymore!" shrug. im not losing money for your laziness |
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Posted: 3/7/2024 4:47:16 PM EDT
[#24]
Quote HistoryQuoted: What really boggles my mind is that we still pay 3% for a CC swipe. It’s crazy that we can’t get that down to 1% or so. Consider the cash back cards consumers use which pay 1% or more. The credit card company would loose money if the fee rates were 1%. They are not going to agree to that. |
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Posted: 3/7/2024 4:48:03 PM EDT
[#25]
I am a heavy CC user. I have always enjoyed the free money back and protection the purchases offered. BUT lately I have seen a lot of this locally. The merchants are getting hammered by fees from the processors.
Last one was at my dentist. I was getting a mouth guard made during my appointment. My bill was almost $700. So a 3% fee on that is significant - $21 aint nothing. My dentist happens to be my neighbor and friend. He confirmed my suspicion that they are getting hammered by fees and instead of raising prices they are offering an alternative to clients. I understand. I ask them if I can stop by in a couple days at a more convenient time and write them a check - they say no problem and I am happy to not shell out the extra money. Similarly our local donut place has been doing the same thing if you spend less than $10. They said they have a minimum processing fee and are loosing money on small purchases. I like the place and the people and just remember to bring cash when me and the kids go there. |
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Posted: 3/7/2024 4:55:52 PM EDT
[#26]
Starting to become pretty common around here. A lot of retailers and shops offer a cash and credit price.
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Posted: 3/7/2024 4:59:32 PM EDT
[#27]
Quote HistoryQuoted: Company that supplies heating oil, charges 3%, when you're paying more than $1000 for a tank full, that 3% is a slap in the face. No discount for cash either, they're a bunch of cunts. So, you would rather they advertised their prices as: pay $ 1030.00 for the card price or a 3% discount for a total of $ 1,000.00 Nothing changed other than you perception, and you are unhappy with them. Perhaps you should take your business elsewhere. |
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Posted: 3/7/2024 5:02:19 PM EDT
[#28]
I went to a new pizza place in town last week, to pick up my take-out order. Sign on the register said a 3% fee will be added when paying with credit card.
Pizza was really good. I'll be back, with cash. |
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Posted: 3/7/2024 5:02:43 PM EDT
[#29]
Quote HistoryQuoted: yes, CC processors charge retardedly high fees for online and over the phone transactions Fraud rates are higher with these transactions. |
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Posted: 3/7/2024 5:23:55 PM EDT
[#30]
We paid an average of 2.7% credit card fees on all transactions. It adds up quick when you realize you've paid $5000 of CC fees that never will see your pocket.
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Posted: 3/7/2024 5:25:13 PM EDT
[#31]
Quote HistoryQuoted: No, never once seen anything like that. Is that really a thing? I think we get charge $0.29 + 1.9%, so on $3 it could be 10% credit card fees. |
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Posted: 3/7/2024 5:31:10 PM EDT
[#32]
Quote HistoryQuoted: Now tell me about the "unknown" of CC disputes and charge backs. Deal with them every once in awhile. It’s part of doing business. I’d rather deal with that than stolen bank drops, counterfeit cash and bounced checks. You still willing gave up sales because you didn’t like the expense associated with it. |
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Posted: 3/7/2024 5:35:52 PM EDT
[#33]
Quote HistoryQuoted: What really boggles my mind is that we still pay 3% for a CC swipe. It’s crazy that we can’t get that down to 1% or so. I have heard walmart pays about 1%, basically they threatened to start both a processor of their own and/or start a walmart debit type card that you link your bank to and it does it as a paypal type transfer. AKA the banks and credit cards would get nothing but more transactions with no cut of it. The card companies saw if they did not cut fees they would loose it all. |
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Posted: 3/7/2024 5:39:08 PM EDT
[#34]
Quote HistoryQuoted: So, you would rather they advertised their prices as: pay $ 1030.00 for the card price or a 3% discount for a total of $ 1,000.00 Nothing changed other than you perception, and you are unhappy with them. Perhaps you should take your business elsewhere. Quote HistoryQuoted: Quoted: Company that supplies heating oil, charges 3%, when you're paying more than $1000 for a tank full, that 3% is a slap in the face. No discount for cash either, they're a bunch of cunts. So, you would rather they advertised their prices as: pay $ 1030.00 for the card price or a 3% discount for a total of $ 1,000.00 Nothing changed other than you perception, and you are unhappy with them. Perhaps you should take your business elsewhere. Did you miss where he said "No discount for cash either"? Although, if they only charge the 3% surcharge on amounts greater than $1000, the obvious solution is buy $500 worth twice as often. Modern problems require modern solutions. |
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Posted: 3/7/2024 5:44:25 PM EDT
[#35]
Quote HistoryQuoted: If you don’t like it take your business elsewhere or use cash. That's what I do, especially at bars and restaurants. The places that charge a fee for CC use are typically so poorly run that their prices are higher anyway. They latch onto the CC fee because it's easy to see on a line item. So I just avoid any of those places that charge a fee. |
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Posted: 3/7/2024 5:45:35 PM EDT
[#36]
Quote HistoryQuoted: Most of the small businesses around here offer a 3-5% cash "discount" Yep. Paid a locksmith with a card yesterday. +3% |
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Posted: 3/7/2024 5:49:21 PM EDT
[#37]
I sell big ticket items and at least half of the credit card payers make some comment about how many points they're getting.
I politely chuckle and agree. But internally I'm rolling my damn eyes because I'm paying $60-80 on their $2000 purchase so they can get $20-40 worth of CC points. Even more fun when you consider the fact most credit card companies are left wing and hate guys like us, and here we are helping to enrich them to get even more power over us  |
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Posted: 3/7/2024 5:53:14 PM EDT
[#38]
Quote HistoryQuoted: Deal with them every once in awhile. It’s part of doing business. I’d rather deal with that than stolen bank drops, counterfeit cash and bounced checks. You still willing gave up sales because you didn’t like the expense associated with it. When it comes to Credit Cards yes. There are two banks within two blocks of me, folks never seem to be too put off when I tell them I don't take cards. My business is also one that doesn't get a lot of walk in and buy it sales, lots of custom stuff and modifications of inventory before a customer picks it up so they know the price and that I don't take cards ahead of time. Add to that the fact that margins are slimmer than ever and a chargeback can kill a week's worth of profit or more and I'll happily risk the stolen bank drops, counterfeit cash and bounced checks that I've never had a problem with in the first place. |
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Posted: 3/7/2024 6:03:44 PM EDT
[#39]
Quote HistoryQuoted: I sell big ticket items and at least half of the credit card payers make some comment about how many points they're getting. I politely chuckle and agree. But internally I'm rolling my damn eyes because I'm paying $60-80 on their $2000 purchase so they can get $20-40 worth of CC points. Even more fun when you consider the fact most credit card companies are left wing and hate guys like us, and here we are helping to enrich them to get even more power over us Sounds like a great opportunity to offer a cash discount.  |
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Posted: 3/7/2024 6:11:27 PM EDT
[#40]
Quote HistoryQuoted: The auto mechanic I use started charging a CC fee last year. I had to dust off the ol' checkbook to pay him for work and he doesn't charge the CC fee. |
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Posted: 3/7/2024 6:19:23 PM EDT
[#41]
Only place I have ever had deny me a cash discount is when I bought a Rolex, because Rolex states "no discounts," and this place isn't low brow enough to charge a credit card fee. I'm sure I could have asked to speak to the owner lol.
Quote HistoryQuoted: I've noticed it a lot they run your debit card as a credit card and charge you a fee I'm going to start calling them on it in the future fuck them ,ever since covid it seems businesses or out to fuck whoever they can I'm tired of the bullshit . What else are they going to run it as? There is a reason your debit card has "Visa" or "Master Card" printed on it. The only difference between a debit card and a credit card is the money immediately comes out of your checking account. There is even a fee for some places that do it as an ATM (ATM fees), ATM fees can be worse than a credit processing fee. |
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Posted: 3/7/2024 6:24:15 PM EDT
[#42]
Quote HistoryQuoted: I've noticed it a lot they run your debit card as a credit card and charge you a fee I'm going to start calling them on it in the future fuck them ,ever since covid it seems businesses or out to fuck whoever they can I'm tired of the bullshit . Take groceries, for example, let's say they are $175. the card fees will be something like this for the store: Card brand fees (from VI/MC/DI/AX) will be 0.65% + $0.50 ea transaction (these may be a bit low) Merchant Acct fees will be 0.35% + $0.15 ea transaction So, (175 x 0.65%) + 0.50 + (175 x 0.35%) + 0.15 = 1.14 + 0.50 + 0.6125 + 0.15 = $2.05 These fees are lower than most merchants pay, but Kroger/Walmart/Meijer, etc will be expected to have really low fees due to their very large volume processing. At any rate, their fee for credit transactions would be $2.05 and their fee for debit transaction would be $0.50 |
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Posted: 3/7/2024 6:26:46 PM EDT
[#43]
Quote HistoryQuoted: Could also be like the inflated shipping charges on eBay; a way to recoup listing/selling fees. Feeling uncertain about your card charges is common, given the complexity of financial transactions. It's easy to overlook these details amidst the busyness of daily life. However, considering a conversation with texas capital bank customer service demonstrates a proactive approach to understanding your finances better. Engaging with their team can provide valuable insights into your card charges, offering clarity on where your money is going. By taking this step, you're prioritizing financial awareness and setting yourself up for greater financial control and confidence |
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Posted: 3/7/2024 6:28:09 PM EDT
[#44]
A couple LGS around the Las Vegas area charge the 3% CC fee when you buy a gun at their counter.
Some of the utilities and other services around here also charge a "Convenience Fee" if you want to pay by CC. If I can't pay with a CC -- I'm not buying. Period. (assuming of course the item is more than like $10) I don't want to always have to carry a wad of cash, and I'm sure as HELL not going to give any vendor my bank info, write a check (again, containing all my bank info), run to the USPS and snail-mail a MO, or be stupid enough to use a debit card. Overall, I don't like the added fee -- things like that should be built into the price as a cost of doing business. Should I also get a line item charge for vendor's rent, cell service, employee costs, electricity? However, as long as the vendor is up front about it, I can choose whether price+fee is still acceptable to me, or choose to shop elsewhere. Freedom works both ways. |
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Posted: 3/7/2024 6:35:28 PM EDT
[#45]
Quote HistoryQuoted: The last time I bought a gun from Gunbroker the seller had me pay his Gunbroker fees, CC fees, shipping higher than expected. All said and done it was like an additional $250 over the winning bid on a $1500 rifle. Fuck that shit. I've been buying and selling on Gunbroker since 2006 but 2022 was my last purchase. How did he make you pay his Gunbroker fees? Shipping is listed in the ad - if it says actual shipping email them for a quote. CC fees are listed in the ad - yes the seller does specify this |
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Posted: 3/7/2024 6:39:22 PM EDT
[#46]
Quote HistoryQuoted: Another reason I don't understand the unwillingness to embrace cryptocurrency. I can settle a transaction with Algorand or Cronus coin faster than a card authorization for pennies. For example the last CRO transaction I made was for just over $1k and it cost $0.13. ALGO similar transaction for $0.19. What's that, 0.015%? crypto is less real than the paper currently in use when the government figures out a way to use crypto to their benefit in tax collection, transaction tracking, etc. it will be the currency of the land |
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Posted: 3/7/2024 6:48:42 PM 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. A lot of places offer a cash discount. I bet if you treat the TOS carefully, there's language like "price incorporates 3% discount for cash payment" so they're technically not "adding" a "fee" for credit cards, they are presenting a price discounted on the assumption of cash payment. |
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Posted: 3/7/2024 6:54:56 PM EDT
[#48]
We see more and more of this all the time. All that "cashback" hoopla has to come from somewhere. It's exactly the same as what Green Stamps used to be 50 years ago, until people finally wised up and realized they'd rather have lower prices than gifts back, whether merchandise or cash.
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Posted: 3/7/2024 7:02:14 PM EDT
[#49]
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. Or.....allow it. Buyers will still be buyers. Sellers will still be sellers. |
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Posted: 3/7/2024 7:03:59 PM EDT
[#50]
Quote HistoryQuoted: Here are few comments from my customers: "home depot doesnt charge me fees!" "no one carries cash or checks anymore!" shrug. im not losing money for your laziness Yes you are. You are losing money from all the customers who see you passing on fees to them and go elsewhere instead. Inconveniencing your customer base to satisfy your greed is the opposite of good service. |
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