Did you know that some banks can do unbundled rates?
This means that you could potentially have a higher credit card rate like 3.5% and your Contactless rate could be 1.8%, depending on who you bank with. For most businesses, your credit card and Contactless rate with the bank should not be more than 3.5%. If you don’t know what you’re getting charged per transaction, you should! You can always look at your monthly statement from your bank. Don’t be afraid to negotiate with them – they should be working for you.
Get the best of both worlds
- Credit cards are popular in certain industries, but do you want the added fees eating into your profit?
- Can you afford to loose customers by increasing prices to cover these fees?
With credit card surcharging, you can choose to pass on the cost of credit card acceptance to the customer. The options of how you do this are numerous. This can be a great option to enable credit card acceptance for customers that have no other means of payment. Your dedicated Eftco account manager can discuss these options with you.