Minimum amount accepted by shop with debit transaction

Glenbhoy

Dj320 wrote: »

Pay all your suppliers in cash, get an atm in store( doesn’t suit all businesses I know) if not then find a shop that has an atm in store, they generally don’t generate enough cash for an atm and often end up buying cash from the bank ( bank makes more money).You give the shop the cash, they transfer online or a Cheque , you just need to find someone with a shop who you can trust , or pay as many suppliers as possible in cash

I don't know your business, but paying suppliers in cash might sound great, but really?? I can't think of a retail type business where that would be realistic.
You also mention the hypocrisy of another poster, is this not the same? You offloading ur cash to a supplier, how are they going to get it into their account, should they have to bear the charges you could have?

Last query, why would the shop with the atm buy cash from the bank? My limited understanding is that they simply distribute their own cash through the machines in addition to regular top ups by the bank who own the atm.

With your statements re continuing to charge a surcharge, paying 1800 per month in card fees and lodging cash to personal accounts (certain money laundering rules might just be a barrier there), I'm not sure you're being entirely honest with us!!

Dj320

Glenbhoy wrote: »

I don't know your business, but paying suppliers in cash might sound great, but really?? I can't think of a retail type business where that would be realistic.
You also mention the hypocrisy of another poster, is this not the same? You offloading ur cash to a supplier, how are they going to get it into their account, should they have to bear the charges you could have?

Last query, why would the shop with the atm buy cash from the bank? My limited understanding is that they simply distribute their own cash through the machines in addition to regular top ups by the bank who own the atm.

With your statements re continuing to charge a surcharge, paying 1800 per month in card fees and lodging cash to personal accounts (certain money laundering rules might just be a barrier there), I'm not sure you're being entirely honest with us!!

I pay suppliers in cash regularly if my atm has too much in it, mini supermarkets regularly don’t have enough cash from the business to support the atm, ( I have supplied a shop for years with cash because of this) but if they cannot get cash then they have to get it from the bank or “ buy it
And on money laundering, total bull, it’s bad business paying a bank to lodge cash, open a credit union account , lodge it free then transfer the money to your business, what’s illegal???

Dj320

WoolyJumper wrote: »

Either way someone has to take the hit. Its either 14 cent for you or 30 cent for me plus a load of inconvenience But really it's not about the cost or being hypocritical or not. The point is I'm just the average customer. Chances are most are like me and they are not going to worry about it being hypocritical they will just do what is most convenient for them. When they go to the shop they won't be thinking about is it profits, future banking charges. They will being thinking about getting what they need to get and going where they need to go. They will leave thinking whether they had a good experience or not and that will ultimately decide whether they come back or not.

I understand you have your business to worry about but the average consumer isn't going to worry about your profit margin. Unless you are a small local shop that means a lot to the community then chances are people will just as happily go somewhere else if its better for them.

Well I’m just home from the day from hell because of the credit card problems across Europe today, today just proved a major point on a cashless society, I watched all day as customers who had no cash try in vain to pay for goods as they had no cash while we kept one lane open for cash only (smug faced I might add ) breeze in and out of our premises , cash is king

Dj320

fritzelly wrote: »

May be an interesting read
https://www.visa.ie/media/images/297x210_visa_irish_pay_report_p16952_dh11-55-45770.pdf

But as you said you dispose of your cash in different ways so may not be totally relevant as you will be avoiding some charges.
The mobile payment boom is just starting and is definitely gonna take off. Look at Sweden which has pretty much get rid of cash
Card payments are increasing exponentially and ATM withdrawals are decreasing (not quite exponentially but going down all the same) - think I'm charged 50c for every ATM withdrawal.
"Took" out 40 euro last Saturday and still have 20 left tho, even when I think I might need cash guess what? Cashback!

Today’s credit card failure across Europe might just prove something to people who couldn’t buy even a carton of milk when they had no cash , I’m only saying it’s no harm to carry a bit of cash

fritzelly

lol was just waiting for this to come up

In fairness how often has this happened?

I always have some cash on me just in case of emergencies where the card might not work for whatever reason.
Think in Sweden they have another system where you top up a card a bit like the Leap Card - there's another option, doesn't actually need a connection to a bank, didn't read too much about it.

Dj320

fritzelly wrote: »

lol was just waiting for this to come up

In fairness how often has this happened?

I always have some cash on me just in case of emergencies where the card might not work for whatever reason.
Think in Sweden they have another system where you top up a card a bit like the Leap Card - there's another option, doesn't actually need a connection to a bank, didn't read too much about it.

It does happen from time to time, my point is really that the banks are and will eventually when they have the majority using card and not getting revenue from businesses lodging cash they will simply make it elsewhere by slowly introducing charges on the consumer, banks are greedy, always have been , they will simply need minimum staff as it is all automated

Alun

fritzelly wrote: »

Think in Sweden they have another system where you top up a card a bit like the Leap Card - there's another option, doesn't actually need a connection to a bank, didn't read too much about it.

They used to have a system like that in the Netherlands called ChipKnip but it was done away with recently as it wasn't being used.

sdanseo

One of the local newsagents charges 25c on any purchase under €10 with a card. That's roughly in line with the vendor fee so no harm done.

I withdraw cash for travel, the barber and taxis. That is literally it. Other than that, I'm like royalty - never ever carry cash. And because of contactless, only €3 or so in transaction fees per quarter. 1c each.

Bowlardo

I hate when you go to a restaurant with a group of friends and the. It comes to the bill and everyone is looking to tap there card individually
**** OFF and come with the cash mother ****ers!
It **** on the waiting staff and tip will undoubtedly be less

OldMrBrennan83

This post has been deleted.

K.Flyer

I know a very busy small shop in Dublin close to a huge amount of offices and businesses. One day a new sign appeared saying that the minimum spend on cards was now 5 euro.
Knowing the owners I asked the reason.
They told me that it was getting ridiculous with people using cards for purchases for as low as under a euro, so they put up the notice to deter them.

OldMrBrennan83

This post has been deleted.

cazzer22

I was trying to pay for parking and ran into Costcutter. I planned on getting money out of the ATM and buying something small to get chaange, but it was out of service. I approached the till and asked the cashier for 20 cashback and I bought some chewing gum. He said there was a minimum spend of 5 euro. I said to him 'there must be something you can do because your ATM isn't working' he point blank refused. I asked for 20 euro for 3 (mobile credit) and he replied 'it's cash only'. At this point I was losing it a bit. I asked for a Lotto ticket for a fiver and he replied that that was 'cash only'. There were packets of Paracaetemol behind the counter, but he couldn't sell more than one at a time (which I totally get). I was actually so frustrated and eventually picked up around 10 packets of chewing gum to make up the price. Such a shambles. Will never go to that shop again. He could've done something to help me out, just that one time.

fritzelly

Dj320 wrote: »

It does happen from time to time, my point is really that the banks are and will eventually when they have the majority using card and not getting revenue from businesses lodging cash they will simply make it elsewhere by slowly introducing charges on the consumer, banks are greedy, always have been , they will simply need minimum staff as it is all automated

Lots of bank options now and you don't need to stick with Irish, N26 have a business account (don't know all the details) and other EU banks are now taking cross EU applications. Gone/going are the days of kowtowing to a few Irish banks

fritzelly

cazzer22 wrote: »

I was trying to pay for parking and ran into Costcutter. I planned on getting money out of the ATM and buying something small to get chaange, but it was out of service. I approached the till and asked the cashier for 20 cashback and I bought some chewing gum. He said there was a minimum spend of 5 euro. I said to him 'there must be something you can do because your ATM isn't working' he point blank refused. I asked for 20 euro for 3 (mobile credit) and he replied 'it's cash only'. At this point I was losing it a bit. I asked for a Lotto ticket for a fiver and he replied that that was 'cash only'. There were packets of Paracaetemol behind the counter, but he couldn't sell more than one at a time (which I totally get). I was actually so frustrated and eventually picked up around 10 packets of chewing gum to make up the price. Such a shambles. Will never go to that shop again. He could've done something to help me out, just that one time.

Shoulda got a naggin of whiskey - thats frigging stupid
Local shop to work like that, min spend a tenner else 35c (and still charging it) and don't do cashback and it's a busy shop!

OldMrBrennan83

This post has been deleted.

cazzer22

Patww79 wrote: »

This post has been deleted.

That's what really got me annoyed. I was thinking I'll get credit and it'll be handy or likewise with the Lotto ticket. So ridiculous.

flossy1

Dj320 wrote: »

Bad business from you if your lodging cash and paying the bank, lots of ways of getting rid of cash and not paying the bank to lodge, your mad if your doing it

i have heard that banks are sur-charging retailers for giving cash back . Is this true

Dj320

flossy1 wrote: »

i have heard that banks are sur-charging retailers for giving cash back . Is this true

I’m not sure on that as we don’t offer it as we have an atm, but retailers should know that it’s not illegal to use the local credit union , it’s free

Dj320

cazzer22 wrote: »

That's what really got me annoyed. I was thinking I'll get credit and it'll be handy or likewise with the Lotto ticket. So ridiculous.

On €10 worth of phone credit a retailer makes 10c profit, that’s before paper, running the machine and all the hassle that goes with phone credit, it costs them money when someone pays by card, simple really

Dj320

fritzelly wrote: »

Shoulda got a naggin of whiskey - thats frigging stupid
Local shop to work like that, min spend a tenner else 35c (and still charging it) and don't do cashback and it's a busy shop!

Not making excuses for the shop assistant but the shop may have it added on their system where the till won’t let the assistant offer cash back on some products, we can add on take options from our tills like this if we want

Time

flossy1 wrote: »

i have heard that banks are sur-charging retailers for giving cash back . Is this true

Standard percentage applies. Still cheaper and less risky than cash lodgement

CeilingFly

Dj320 wrote: »

Pay all your suppliers in cash, get an atm in store( doesn’t suit all businesses I know) if not then find a shop that has an atm in store, they generally don’t generate enough cash for an atm and often end up buying cash from the bank ( bank makes more money).You give the shop the cash, they transfer online or a Cheque , you just need to find someone with a shop who you can trust , or pay as many suppliers as possible in cash

All my suppliers are overseas. Time is very valuable to me, so time organising anything other than simple lodgement is excessive in value compared to savings
On top of that, you need to show proper records for corporate governance and paying in cash throws up too many issues.

Atm instore is good for places with high cash turnover and has ancillary costs, not suitable for my locations

CeilingFly

flossy1 wrote: »

i have heard that banks are sur-charging retailers for giving cash back . Is this true

No.

CeilingFly

Dj320 wrote: »

If it happens then we just don’t accept card payment for under €5, just leave the goods there, you simply cannot sell a newspaper, bread etc and take a card payment, it will cost us money to sell it

Change your merchant provider. If its a group scheme, ask questions. You must have a choice.

Several processors will offer debit card processing rates of 0.35%, so a €2 transaction will cost less than a cent.

Old adage, shop around. Applies to businesses as well as consumers

ED E

Coming back to this thread I know a small canteen that happily accepts 84c (subsidised grub) transactions on card and has for a few years. Not a big chain that can negotiate amazing rates.

Posters like Eggs are just luddites.

Kat1170

Bowlardo wrote: »

I hate when you go to a restaurant with a group of friends and the. It comes to the bill and everyone is looking to tap there card individually
**** OFF and come with the cash mother ****ers!
It **** on the waiting staff and tip will undoubtedly be less

Yeah, don't think its the use of cards that have your tips down :rolleyes::rolleyes:

368100

Dj320 wrote: »

I’m not sure on that as we don’t offer it as we have an atm, but retailers should know that it’s not illegal to use the local credit union , it’s free

Credit unions will clamp down on this eventually, cash services are expensive and loss making even for banks charging full fees. Plenty of credit unions in trouble because of people not borrowing so they dont have interest income to subsidise the counter service.

The J Stands for Jay

368100 wrote: »

Credit unions will clamp down on this eventually, cash services are expensive and loss making even for banks charging full fees. Plenty of credit unions in trouble because of people not borrowing so they dont have interest income to subsidise the counter service.

Do credit unions offer business accounts? Otherwise if be wondering about the tax impact of giving business cash to an be individual to have "resting in my account".

The J Stands for Jay

sdanseo wrote: »

One of the local newsagents charges 25c on any purchase under €10 with a card. That's roughly in line with the vendor fee so no harm done.

I withdraw cash for travel, the barber and taxis. That is literally it. Other than that, I'm like royalty - never ever carry cash. And because of contactless, only €3 or so in transaction fees per quarter. 1c each.

You need to get a cheaper current account.