CHANGES TO VISA DEBIT CHARGES

CHANGES TO VISA DEBIT CHARGES

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I have just received a notification that our charges for processing VISA debits will increase from 1 March from a current flat rate of 14p per transaction to a percentage based charge of 0.62% of the transaction.  This is going to have a major impact on our business, where most of our sales are settled by card with the highest proportion of those being by VISA Debit.  The price point of this change is approx. £22.50 where any sales below will make us better off but anything over will see a steep increase in our monthly fees.  I would suggest that over 95% of our VISA debit transactions exceed £22.50.  I was aware changes were being made by VISA and wondered if other Accounting Web users have received similar letters or if anyone can recommend any card provider who has offered to cap the fees on a per transaction basis?

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By Gem7321
11th Feb 2015 13:21

We received similar notification but as yet directors not doing anything about it.

 

There is a comparison website called cardswitcher

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By Mick Milne
12th Feb 2015 09:31

interesting

I have multliple dealings with Worldpay and GlobalPayments (HSBC)

 

Global Payments are charging me 80p per transaction going forward, which is steep, but not as bad as a % charge based on transaction history.

 

Worldpay appear a bit dodgier as they have offered me 70p per transaction on one account (the low value one) and 0.50% transaction value on the high value one.

I sense a falling out about to happen

 

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