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Old 04-15-2008, 08:33 PM   #1 (permalink)
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cc debit cards

I may swtich processing companies. The company i am thinking of going with one of the things they have told me i will get is a flat rate of .25 on each debit card trasaction. My current processor has told me this is not possible. Does anyone have this and is what it says it is?
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Old 04-15-2008, 10:29 PM   #2 (permalink)
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Re: cc debit cards

Well I dont take debit cards since I do not have a pin-pad, they get processed as credit card instead.

My rate is 20 cents per transaction and 1.41% of the sale for both Visa & Mastercard. I know if I could do debit it would be even less than that.

Thats about all I can tell you!
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Old 04-16-2008, 11:40 AM   #3 (permalink)
 
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Re: cc debit cards

It is possible. My rate is 1.35% for credit cards and for debit it is a flat rate of $0.39, so $0.25 is really good!
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Old 04-17-2008, 04:04 PM   #4 (permalink)
 
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Re: cc debit cards

My debits are a flat .30 - plus a .20 transaction fee. I would definitely recommend doing debits, you can save big on your processing fees. Run every card possible as a debit. You can truly compare processing companies by dividing your total monthly charges by your total number of transactions. They seem to be good at "hidden" fees. My per transaction fee is around .78, this includes debits & regular charge cards.
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Old 07-19-2008, 11:18 PM   #5 (permalink)
 
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Re: cc debit cards

ask them if there are any other charges like a network fee..these can range from a few cents to 3 bucks each transaction....when it boild down to it most of these companies pay the same fee's they just juggle where they charge you for them.
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Old 07-20-2008, 01:00 PM   #6 (permalink)
 
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Re: cc debit cards

yup, thats why we just got pin pads for our stores, flate rate for debits, % + fee for credits
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Old 09-09-2008, 10:31 AM   #7 (permalink)
 
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Re: cc debit cards

Quote:
Originally Posted by planatan View Post
My debits are a flat .30 - plus a .20 transaction fee. I would definitely recommend doing debits, you can save big on your processing fees. Run every card possible as a debit. You can truly compare processing companies by dividing your total monthly charges by your total number of transactions. They seem to be good at "hidden" fees. My per transaction fee is around .78, this includes debits & regular charge cards.
What credit card processing company are you using?
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Old 09-09-2008, 10:33 AM   #8 (permalink)
 
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Re: cc debit cards

Quote:
Originally Posted by unity View Post
Well I dont take debit cards since I do not have a pin-pad, they get processed as credit card instead.

My rate is 20 cents per transaction and 1.41% of the sale for both Visa & Mastercard. I know if I could do debit it would be even less than that.

Thats about all I can tell you!
What credit card processing company do you use?
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Old 09-09-2008, 10:49 AM   #9 (permalink)
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Re: cc debit cards

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What credit card processing company do you use?
Chase.
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Old 09-11-2008, 07:33 PM   #10 (permalink)
 
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Re: cc debit cards

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Originally Posted by top250tansyou View Post
I may swtich processing companies. The company i am thinking of going with one of the things they have told me i will get is a flat rate of .25 on each debit card trasaction. My current processor has told me this is not possible. Does anyone have this and is what it says it is?
Are you talking about a PIN BASED DEBIT TRANSACTION or a SIGNATURE BASED DEBIT TRANSACTION. The difference...Pinbased is using your pin number. These transactions are the most secure and cheap. There is NO discount rate associated with PIN BASED DEBIT transactions. In fact, if you have a good debit card rate, ONLY use your PIN PAD for transactions that are $30.00 or over. Why pay a .25 or .50 flat rate for a $5.00 transaction than using your debit card as a credit card, or a signature based debit transaction.
Sorry for rambling...to answer your question the answer is depends....EVERYONE'S RATES DEPENDS ON YOUR VOLUME. You are going to get great rates and fees if you have high volume, but for the salon owner who is just starting or doesn't do more than $2000 a month in processing....good luck getting a qualified rate less than 1.85%...then again....its not what you know but who you know.....
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