Chip and Pin Machines

[devilmaycry]

Hi,

I own an indoor children's play centre that currently only takes cash. I don't like the perception that not taking debit cards creates and it is not very professional. I am also expanding and opening a second centre, so it is becoming ever more important to have the ability to take cards.

I bank with Natwest who have said that I can have a chip and pin machine for an intial payment of £200, then a monthly charge of £20. Plus a 50p charge for each transaction!! But when I only charge £3.95 oer child, 50p becomes a massively excessive charge.

Does anyone know of any cheaper providers of chip and pin machines?

Thanks.

 

[The Inside Mole]

Have a look at cardsave, http://www.cardsave.net I think their prices are competitive compared with the banks.

 

[gibby]

if you sign up with the fsb the natwest/streamline will charge you £0 set up, lower rental & charges than going direct to them - crazy but thats how it works

you can also try some agents as mentioned

another one to card save is
www.fairbill.co.uk

no idea what they are like but would value some feedback

I would avoid worldpay/rbs at the moment
I think they are now part of natwest but they are being funny about applications, wanting full accounts, business plans & lettsers from accountants.

G

 

[Ben8472]

The 50p they quoted you will be for debit card transactions? and a percentage based fee for credit cards? I assume this is the case - I was not aware you could get a merchant account with a fixed fee for credit card transactions?

It's worth asking Streamline if they can charge you a percentage on all card types (credit and debit), paying a fee instead of a percentage can be a real obstacle if your transactions average just a few pounds.

Not sure if they will agree - although I really don't see why not, you are essentially asking them to worsen the deal they are offering you as the vast majority of merchants would actually end up paying more if they were on a percentage rather than a fixed fee for debit cards.

Anyway good luck with this.

Ben