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CREDIT CARDS


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Last week I took cash every day, several cards every day but NO cheques.

Credit cards really do encourage people to spend more as well!

 

If it wasn't for the costs involved I would prefer credit cards. I have a transaction charge of 70p for all transactions under £10, no one seams to mind, and will often round up their spend to usually (by the time they have finished) over £10

 

Lee

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we take cards, but also love to give a discount for ,cash. and always love to have a haggle, for a deal or 2.and customers love this, as they feel you have done them a favour, and they come back.but most of all they remember you, try it in tescos, and c what happens lol...thats what makes us special.to a multiple, we offer, PERSONAL SERVICE, and the very best we feel we can offer.........................

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Chip and Pin has been excellent, far quicker than signing! transition was easy and I have not had a single problem!

 

up untill February 14th people would come in saying 'I don't remember my pin' or 'I don't have a pin' BUT the day after NOBODY forgot their pin!

 

People :smt093

 

Lee

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  • 4 months later...

we stopped using the credit card system a while back, in our case it just wasn't beneficial, after two years we saw no real improvement in revenue generated by them.

 

since stopping it we have suffered no apparent loss of income.

 

strange how some businesses rely on them, gotta be a demographical issue.

 

probably in the future we will pursue this once again.

 

rick.

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i too take cards - would not change it for the world as it is brill.

money goes straight into bank - almost 30% pay with cards.,.

we are about to offer cash back, which will reduce the amount of cash in shop, less bother. does not cost anything to set up and we can charge a small percentage for the service. look into it.

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I am one of what must be the minority now. I do not accept cards of anykind. I have looked into the pros and cons on more that one occasion.

 

For me it would represent a huge rise in costs as not only would I lose the costs involved with processing cards but I would also be forced into opening a business bank account. I do run a separate account for my buisiness but it's an ordinary personal account with no charges .

 

I do however have one major benefit in that there are 3 major banks with cash machines withing 300 yards of my shop. Most customers just go straight to them and draw cash without any loss of sale on my part. The odd few I do lose come nowhere near covering all the costs i would incur.

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There is a benefit to this method, in that you dont have a problem when things go wrong with Cards and electronic processing devices.

There are good and bad points on both sides but I would be afraid of having large amounts of cash on the premises. Todays hold-up druggies aint going to take processed numbers on a till roll. Give em the bit of cash thats in the till and they are happy.

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but I would also be forced into opening a business bank account. I do run a separate account for my buisiness but it's an ordinary personal account with no charges.

 

Hi Andy, I don't use a Business Bank Account either, I have a Personal Account with Abbey I use for business, in over twelve years I've never paid bank charges, & get a good interest rate, this account handles all Cash, Cheques & Card transactions going in & pays out all my Direct Debit, Standing Orders, Visa Debit & Cheque payments....I like it

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That sounds great, I really must look into this as my bank charges are getting silly.

I recently opened a new account for a new shop I'm opening. I asked them if they could do 12 months free banking,

 

"well we could if it was your first account, but as you've already got 2 business accounts, we're not able to do it"

 

I should have told em to shove it, but it seemed a lot of hassel at the time, direct debits,etc. I'm gona have to sort it.

 

I agree with Hugh on the credit card thing, Keeping to much cash lying around etc,

But I must say Andy, I never used to take cards.. Had a few customers lost, but thought that the cost of the machine etc out weighed that.

But I must say when I did start taking cards it definatley had a big increase in my takings.

Are you losing more custom than you think? Just an opinion :wink:

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