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Old 02-02-2013, 10:07 AM   #11 (permalink)
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Re: Credit Cards

So.......... Has anyone been hit with the extra charge yet ?
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Old 02-02-2013, 02:40 PM   #12 (permalink)
 
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Re: Credit Cards

No way, have hard enough time with people spending money in these times add more fees to them they will look elsewhere...
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Old 02-03-2013, 01:50 PM   #13 (permalink)
 
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Re: Credit Cards

I think I had heard on the news that you can only charge up to 4% of the purchase price.
While I haven't seen anywhere new with these charges popping up, I will not be passing this to my customers in the form of a fee. If I need to restructure my pricing, it will added into it that way, not a separate fee at the end of the sale.
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Old 02-05-2013, 01:31 AM   #14 (permalink)
 
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Re: Credit Cards

The nail salon I go to has always done it (even before it became legal). Their sign stated:

Unfortunately, due to credit card charges, we will be charging for the following transactions:

$1-$25......$1
$26-$75....$2
$100+.......$3

Sorry for any inconvenience.

Surprisingly enough, I never heard 1 customer complain about it in the 10 years that I had been going there. But then again, they don't have the tanning tax added either.
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Old 02-07-2013, 01:05 PM   #15 (permalink)
 
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Re: Credit Cards

You can't just charge a straight percentage for each customer it goes against the policy. The new agreement is that you can only charge the customer the amount you are being charged by the particular card company ( Visa, Mastercard, Discover, AMEX).
and those numbers very by the type of card they are using like a rewards card or corporate card are going to be 2-4% however most debit cards are only going to be between .79-1%. It is not worth trying to figure all the different cards out. There is atleast forty pages of different cards on visa alone, and if you over charge, you are no longer in compliance. If you are paying that much on cards you need to search for a new processor. I use Meramak Bankcard out of NJ they are not widely known but have been in business 22yrs. with only 2 complaints to the BBB and both have been resolved.
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Old 02-07-2013, 01:52 PM   #16 (permalink)
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Re: Credit Cards

Quote:
Originally Posted by rebklyn39 View Post
You can't just charge a straight percentage for each customer it goes against the policy. The new agreement is that you can only charge the customer the amount you are being charged by the particular card company ( Visa, Mastercard, Discover, AMEX).

I have the settlement paperwork in front of me right now and I do not see any restriction like what you speak of; actually quite the opposite.

This is a settlement with Visa and MC, if Visa/MC backed cards were processed as debit cards, those transactions do not apply to the settlement or provisional changes from the settlement going forward.

To directly quote the settlement:

Merchants will be able to charge an extra fee to all customers who pay with visa or MasterCard branded credit cards. This is called a branded-level surcharge, and it is allowed if the surcharge:

* Is the same for all Visa credit cards or all MasterCard credit cards

* Is not more than the merchant's average Visa or MasterCard merchant discount rate (calculated historically or based on the previous month); and

* Is not more than the maximum surcharge cap, which will be posted on Visa's and MasterCard's websites (if a cap is set).


If you take AMEX, Discover, Paypal; there are other requirements (way too much for me to want to type)



Additional provisions of the settlement:

* Discount rule: You may offer a discount for other forms of payment (no set rules here)

* All-Outlets: (essentially, you do not have to accepts all (or any) cards at all locations/trade names/ect. if you don’t want to)

* Buying Groups: We as a salon group could leverage our collective power to get a lower rate

* $10 minimum rule: This rule, which allows merchants to set a $10 min. purchase for Visa and MasterCard credit cards, will not change if the requirements of the Dodd-Frank Wall Street Reform Act ends

I hope this clarifies the main points for everyone.

BTW: Make sure to get your forms in for your share of the $6.05B fund.
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Old 02-07-2013, 01:54 PM   #17 (permalink)
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Re: Credit Cards

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Originally Posted by rebklyn39 View Post
You can't just charge a straight percentage for each customer it goes against the policy.
BTW, did your bank or processor tell you that?

If so, I would look elsewhere for banking needs. It's their job to understand the regulations.
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Old 02-07-2013, 02:57 PM   #18 (permalink)
 
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Re: Credit Cards

Quote:
Originally Posted by House of Tan View Post
I have the settlement paperwork in front of me right now and I do not see any restriction like what you speak of; actually quite the opposite.

This is a settlement with Visa and MC, if Visa/MC backed cards were processed as debit cards, those transactions do not apply to the settlement or provisional changes from the settlement going forward.

To directly quote the settlement:

Merchants will be able to charge an extra fee to all customers who pay with visa or MasterCard branded credit cards. This is called a branded-level surcharge, and it is allowed if the surcharge:

* Is the same for all Visa credit cards or all MasterCard credit cards

* Is not more than the merchant's average Visa or MasterCard merchant discount rate (calculated historically or based on the previous month); and

* Is not more than the maximum surcharge cap, which will be posted on Visa's and MasterCard's websites (if a cap is set).


If you take AMEX, Discover, Paypal; there are other requirements (way too much for me to want to type)



Additional provisions of the settlement:

* Discount rule: You may offer a discount for other forms of payment (no set rules here)

* All-Outlets: (essentially, you do not have to accepts all (or any) cards at all locations/trade names/ect. if you don’t want to)

* Buying Groups: We as a salon group could leverage our collective power to get a lower rate

* $10 minimum rule: This rule, which allows merchants to set a $10 min. purchase for Visa and MasterCard credit cards, will not change if the requirements of the Dodd-Frank Wall Street Reform Act ends

I hope this clarifies the main points for everyone.

BTW: Make sure to get your forms in for your share of the $6.05B fund.

I did mis-state by accident about discover amex and the percentage I did not clarify. my apologies. However, this is most of ins and outs with a website with the rest.

Also, after having to charge a tan tax on top of sales tax. I believe customers are tired of extra taxes and fees. just another way to send your customer to a competitor.

•Retailers are required to provide “clear disclosure” or signage in the store entrance, at the point of sale, on their website if it is an online purchase and on your receipt.
•Retailers can only charge a fee equal to what they pay to accept the card—typically 1.5%-3% of the entire purchase.
•The practice of surcharging is illegal in 10 states, including: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma, and Texas.
•You cannot be charged a checkout fee for debit or prepaid cards – even if you hit “credit” when you swipe your debit card.

This fee comes as a result of a recent court settlement between retailers and the payments industry where retailers requested and received the ability to pass their credit card acceptance fees onto consumers. For more information, please visit www.checkoutfees.com.


So, if your average is 1.9 and youare charging 3% you are in violation.

Last edited by rebklyn39; 02-07-2013 at 03:02 PM. Reason: * Is not more than the merchant's average Visa or MasterCard merchant discount rate (calculated historically or based on the
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Old 02-07-2013, 04:00 PM   #19 (permalink)
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Re: Credit Cards

Even more clarification; thank you for adding that.

Bottom line; your clients will be upset and it has so many restrictions & fine print that it would drive you crazy even if you tried to do it.
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Old 02-07-2013, 04:16 PM   #20 (permalink)
 
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Quote:
Originally Posted by House of Tan View Post
Even more clarification; thank you for adding that.

Bottom line; your clients will be upset and it has so many restrictions & fine print that it would drive you crazy even if you tried to do it.
ABSOLUTELY!!!!
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