retailer

louisefl

can any retailer out there answer this for me im thinking of opening my own business but how do retailers get their money from card sales from the banks?i cant figure this one out

fasttalkerchat

Isn't it lodged to their bank account?

louisefl

??????????????

fasttalkerchat

Maybe I've misunderstood your question. Are you asking where the money goes when you use a debit card in a shop?

louisefl

yes how does the retailer get their money for their goods that they sold to a customer using a card?

fasttalkerchat

louisefl wrote: »

yes how does the retailer get their money for their goods that they sold to a customer using a card?

When you pay by card the money is taken from your account and put in the retailer's bank account.
It works similarly to cashing a cheque in your account but a lot quicker.
Usually the retailer will be charged for this service per transaction, sometimes this is passed directly on to the customer.

For a more detailed explaination see http://science.howstuffworks.com/debit-cards.htm

DubTony

Pffft!

The perfect opportunity to really take the piss ...... Gone. :mad:

fasttalkerchat

DubTony wrote: »

Pffft!

The perfect opportunity to really take the piss ...... Gone. :mad:

I thought she was a child so didn't seem right. Looking at her other threads she has a car!