Am I wrong for not really caring about a business crying about their credit card machine bills? They are a business after all, they make money on what they sell? Surely they expect to pay for a service they are useing?
by Cuddly-Bear0-0
Am I wrong for not really caring about a business crying about their credit card machine bills? They are a business after all, they make money on what they sell? Surely they expect to pay for a service they are useing?
by Cuddly-Bear0-0
26 comments
It’s a small-time mentality. Time & resources wasted sorting cash can easily be covered by a card machine. They obviously cant’dont want to see this.
Also, and more importantly, its easier to ‘forget’ to declare cash transactions to the Tax man
I tend to agree with you.
For the record that poor business only made between £20K and £40K last month off card sales alone.
I suggested an idea to a business back home why not incentivise people to pay cash by making cash payments cheaper than card payments. You’d have sworn I asked to buy his firstborn the look I got.
Yes. If you had to pay a ‘bank surcharge’ on your salary whenever it was paid into your account, you’d bitch too.
Someone will be able to work out who’s statements are formatted like that, look at their rates then work out the card turnover for this business. They’re probably not going to get much sympathy after that anyway.
Cost of doing business. Bean counters hate those.
He can skip the electricity bill too by not using any, but that would be stupid and counter productive. Nobody in their right mind would try to cut corners like that. Similarly, taking cards is good for your business but there’s a small fee for it. You would be stupid not to take cards, but bean counters can’t see past the fee, ignoring the benefits they get for it.
Sure it’s annoying, but you’d think they are the only business in the world paying card charges. Either give discounts to pay in cash or people are going to use card as it’s way more convenient.
Not really enough context in that post to see if that amount is a lot or not. What amount of sales is it for? Is 10’s of thousands or just a few grand?
Nah, sure they can probably claim these bank/admin fees off their tax bill so it works out in the end
Some businesses where the amount spent per transaction is low, the card costs can be important, as you pay a card processing fee of x% plus y pence per transaction.
I’ve seen the pence per transaction as high as 22p. If most of your transactions are for less than £2.00, that’s actually a big chunk.
However, shouldn’t be the case in a pet store. I would have thought their average transaction would be in the range of £10-£30.
They’d be better trying to secure better pricing from their suppliers if they want to improve their margins.
Nope I have no sympathy either. A lot of cash machines charge us for taking out cash.
They have to deposit cash in a bank, and they are charge for that too. They have to do cash handling, which takes time, time =money.
I’d like to see the cost of cash transactions for comparison.
I assume that paying by cash is only more beneficial if it isn’t being deposited into the bank and hence isn’t being declared.
Just on a note. How many younger ones (under 25/30) actually carry cash?
There’s a ~1% fee on depositing cash into a business account, which when you add the cost of petrol and time works out as more than the ~1.5% Visa and the boys charge. So they’re idiots.
Never carry cash in the digital age, loose out on business then if you don’t want to pay for a convenient service.
I just walk out of cash only businesses and besides you can bet these businesses owners are paying their staff fuck all and taking the vast majority if the profits for themselves.
Businesses complaining about card fees never mention how much they’d be charged by banks for cash handling fees and the costs associated with that (transport / staff etc).
It’s always, always them complaining they can’t fudge the cash numbers for the taxman. It’s also a skills issue, shop around for a better POS supplier if you think you’re getting hosed on fees.
Seen on their FB page that they use worldpay for their transactions, not sure if that makes any difference?
Any time I see one of these it just screams out “Tax Dodge”. In my experience a lot of the people that I see supporting these types of posts online aren’t declaring everything either.
Why the percentage taken by card companies has doubled surely is the issue here? How can they justify such an increase? Their costs cannot have doubled given the nature of their operation. If anything, with the increased use of cashless payment you would think economies of scale would help keep costs down. I suspect, now that we are so dependent on cashless payment, the banks are up to their old tricks of profiteering again.
Tax dodge and announcement that they are doing so incoming
Yes you are wrong. There is a systematic war on small businesses ever since the covid lockdowns.
If it’s done via card the Tax “Man” knows.
Post offices and banks charge business to exchange notes for loose change if they want cash
Some business will want cash do they can under declare their income
£400 is nothing when compared to energy, water, and rates
Depends on the business. If it’s a chain fuck em they have to power to negotiate with the companies but smaller independents can’t and get doubly fucked over as not only can they not negotiate but if their turn over isn’t big enough they are given a worse rate.
At the end of the day big or small the business passes the cost onto you.
Are you happy enough to pay more for less so a computer can take its cut?
You’ll be sorry when cash is gone. Whats the problem with using cash anyway?
So many empty headed wankers on this thread
It’s a tax dodge nothing else and are any really reducing prices in shops not a chance in hell. the chip shops and take aways are ridiculous for all this cash bollix. Paying cash in hand and not paying tax but still have the same prices as the shops doing everything by the book. If it’s a cash only shop it will not get my custom as I don’t carry cash.
Yes, you are wrong
I’ve just been to Poland and same as in many other countries you can pay by card (or Blik – which is a brilliant payment app) literally everywhere.
This made me curious thinking perhaps the card transaction fees there are way lower so I’ve Googled it and they’re exactly the same.
How come then I only hear about this from the businesses based here in NI?