The Sting in the Tail on Debit Cards (Barrel-Dregs 279)

By | May 29, 2015

We ran an article about a change in the EU regulations on Debit Cards, they have been a lucrative rip off for some Card Companies for a long time, in some cases costing licensed businesses up to a thousand pounds a year, one that we talked to several thousands, naively assuming that being a customer for seven years, he would be advised of any changes.

Not on your life, it’s more profit for them, the General Manager, in this case, was too busy taking money to check whether he was being ripped off, until the figures were checked, he could employ another barman on the difference.

They had also pushed up the Credit Card percentage, to add insult to injury.

The situation now is credit card rates as a guide run from 1.09% – 2.04%

Debit Card rates as a guide run from 0.35% – 1.09% depending on your company.

They are sadly like Energy Companies, you need to negotiate every year or two years depending on your contract.

Banks used to be squeaky clean, now the real dirty tricks are coming out in the press, whatever we think we know, it is nothing compared to modern day banking rip offs.

If we all had the bottom rate on Debit cards for low cost purchases, it is more net profit.

You also need to know when it is more profitable to take a Credit Card rather than a Debit Card or vice versa.

If you contact USE at info@usenumberone.com we will get someone to give you a call or give Mike a call below to get more details

Reduce your Debit Card processing charges by up to 50% per transaction!!

Debit Card processing charges from 0.35% per transaction.

This means that costs for a £10 – £30 transactions cost from 3.5p to 10.5p per transaction.

For your Free Audit versus your current provider , please contact Mike Crawshaw at Spiral quoting ‘Use Number One’

Mike Crawshaw | Consultant | M: 07450 574299

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