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credit card fees

post #1 of 35
Thread Starter 
In late January the rules changed. You are now permitted to add on a convenience fee to recoup up to 4% of your credit card fees.
Answers to the most often asked questions re: SPS. SPS instructions are on Page 15 of the Sticky at the top of the Cake Decorating Forum. Supplies can be ordered from Oasis Supply, Global or BakeryCrafts.
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Answers to the most often asked questions re: SPS. SPS instructions are on Page 15 of the Sticky at the top of the Cake Decorating Forum. Supplies can be ordered from Oasis Supply, Global or BakeryCrafts.
Reply
post #2 of 35
Works great for me. I use square 3.75%

www.VeryDeliciousDesserts.com

https://www.facebook.com/pages/Delicious-Desserts/207874222593145

 

It's never "just cake!"

 

You may get a cake for $way to little but you won't get this cake!

Animal
(4 photos)
 
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www.VeryDeliciousDesserts.com

https://www.facebook.com/pages/Delicious-Desserts/207874222593145

 

It's never "just cake!"

 

You may get a cake for $way to little but you won't get this cake!

Animal
(4 photos)
 
Reply
post #3 of 35
Thread Starter 
My Square is 2.75%
Answers to the most often asked questions re: SPS. SPS instructions are on Page 15 of the Sticky at the top of the Cake Decorating Forum. Supplies can be ordered from Oasis Supply, Global or BakeryCrafts.
Reply
Answers to the most often asked questions re: SPS. SPS instructions are on Page 15 of the Sticky at the top of the Cake Decorating Forum. Supplies can be ordered from Oasis Supply, Global or BakeryCrafts.
Reply
post #4 of 35
Yes. If you can't swipe it's 3.75. Usually my credit card clients are also my out of town brides.

www.VeryDeliciousDesserts.com

https://www.facebook.com/pages/Delicious-Desserts/207874222593145

 

It's never "just cake!"

 

You may get a cake for $way to little but you won't get this cake!

Animal
(4 photos)
 
Reply

www.VeryDeliciousDesserts.com

https://www.facebook.com/pages/Delicious-Desserts/207874222593145

 

It's never "just cake!"

 

You may get a cake for $way to little but you won't get this cake!

Animal
(4 photos)
 
Reply
post #5 of 35

I heard about this.  Is anyone (here) going to actually do it? 

post #6 of 35
Thread Starter 
Already started.
Answers to the most often asked questions re: SPS. SPS instructions are on Page 15 of the Sticky at the top of the Cake Decorating Forum. Supplies can be ordered from Oasis Supply, Global or BakeryCrafts.
Reply
Answers to the most often asked questions re: SPS. SPS instructions are on Page 15 of the Sticky at the top of the Cake Decorating Forum. Supplies can be ordered from Oasis Supply, Global or BakeryCrafts.
Reply
post #7 of 35
Quote:
Originally Posted by KoryAK View Post

I heard about this.  Is anyone (here) going to actually do it? 
Hell yes!
Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
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Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
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post #8 of 35

OK so what exactly are you doing? Flat fee or percentage? How much?  How are the customers taking it?

 

I have an open shop so I was thinking about a fee for those small coffee or one cupcake sales but I don't know how well it will go over for larger orders. 

post #9 of 35
Quote:
Originally Posted by KoryAK View Post

OK so what exactly are you doing? Flat fee or percentage? How much?  How are the customers taking it?

 

I have an open shop so I was thinking about a fee for those small coffee or one cupcake sales but I don't know how well it will go over for larger orders. 

Excellent questions. I can just see some of my clients balking at any extra $$ added to their totals. But the % adds up... too much to absorb into my profit margin.

post #10 of 35
I think splitting it with them sounds fair. What do you think? 1.75%
Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
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Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
Reply
post #11 of 35

In general, I don't like being dinged for the vendors banking fees.  Perhaps factor the cost into your pricing, and offer a discount if people pay with cash?  I know the outcome is the same, but then it doesn't feel like people are having to pay an additional fee just for the privilege of using their credit cards.

post #12 of 35

Looking at a couple of articles about the issue..

http://www.app.com/article/20130204/NJBIZ/302040092/Your-money-N-J-retailers-could-charge-more-credit-card-transactions-many-won-t

 

This one gives the list of the 10 states where you can't surcharge and it looks like other states are introducing legislation to prevent it.

http://www.forbes.com/sites/moneybuilder/2013/02/07/most-retailers-shy-away-from-credit-card-surcharge/

 

And this article mentions that it is only for credit card and not debit card transactions

http://www.cbsatlanta.com/story/20719106/credit-card-surcharge-now-legal-but-may-not-happen

 

For me, I pay $.65 per debit transaction and $.20 + whatever (variable) % for credit card transactions. The tipping point is at the $25 mark - credit it better below, debit is better above.  If someone hands me a debit card for a $5 tab, I will run it as credit.  If I am charging a surcharge, now the question is $.65 to me or a surcharge to them.  I know it would be very small, but you know how people can get all twisted!  Also it's only on Visa and MasterCard, but not Discover.  I'm wondering if with all the additional training, room for error, potential ticked off customers, and additional paperwork it's too much trouble!

post #13 of 35

http://knowyourcard.org/articles/checkout_fees

 

OK I've made my decision: no fees for me.

post #14 of 35
Thread Starter 
On my food truck my menu prices include sales tax. Passing this credit card fee on to the consumer isn't hard for them to accept.
Answers to the most often asked questions re: SPS. SPS instructions are on Page 15 of the Sticky at the top of the Cake Decorating Forum. Supplies can be ordered from Oasis Supply, Global or BakeryCrafts.
Reply
Answers to the most often asked questions re: SPS. SPS instructions are on Page 15 of the Sticky at the top of the Cake Decorating Forum. Supplies can be ordered from Oasis Supply, Global or BakeryCrafts.
Reply
post #15 of 35
I think that most people are used to having the final price be much higher than the price that gets them to book, whether it be a hotel, rentals, cars, and appliances and such. There are always taxes, convenience fees, disposal fees, early check-in fees, and the like. My cell phone plan was $140 a month for 2 phones and by the time the bill came, the lowest it ever was is $178, after FCC fees and 911 surcharge, and city, county, state taxes and the texting, and picture messages fees. And Katie bar the door when we went over our texts or minutes!!! It's just the way of the world.
Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
Reply
Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
Reply
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