Hi all, I finally decided to quit my job and run my own business - a small boutique shop. However, I have little exeperience in this. I want to set up the service to accept credit card payments. Anyone know to whom I should speak regarding this? My bank account manager or some financial service company? What are required for this purpose? Thanks a lot for your advice!
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Yes , it must be the banks , but not necessarily the bank that you have your business account with or your business loan . Shop around for the best rates i.e. the least amount of charges to you . Factor in to the price of your goods or services the added charges of payment by credit card or just give clear notice to purchasers that payment by credit card does attract a fee . How you go about adding the fee so that the purchaser bears the added fee really depends on what you are selling . e.g. purchasing an airline ticket , you have two prices for a cash transaction or a CC transaction . It can also help by explaining to an irate customer who objects to paying extra by CC that these fees are always bank imposed fees and even withdrawing cash from the ATM can attract a similar fee especially if it is not your "home" bank . CC fees are a part of doing business and as a "new" merchant , you will quickly learn just how many bank fees and charges there are that you were not previously aware of . Good luck .
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