Switch Machines

[Robert Lambie]

IS THE SWITCH MACHINE JUST THE SAME AS A CREDIT CARD MACHINE IAN?

[Ian Bingham]

Think so
not too sure
you know its one of those swippy things you get in morrisons

[Chris Wool]

it made a lot of difference to me.
there aint many people that dont carry a card, not the cheapest way to get paid but you dont have to go and pay it in.

chris

[Ian Bingham]

whats the cost of it Chris?
( if you don’t mind me asking)

[Peter Mindham]

Usually about £15.00/month rental then 1 – 3% of transaction depending on volume of sales for credit cards. Debit cards are usually about 50p per transaction depending on bank.

Peter

[Ian Bingham]

is there a minimum transaction charge or is it a percentage all the way?

[Chris Wool]

peters costs obout it yes if a credit or business card then a % on a bill several £00 does cost a bit but once its approved by the terminal then 3 days later its in your bank.

a debit card can cost down to 30 pence regardless of value can make a difference,

if you can justify the terminal rental then all ok.

i got fed up of hearing i left my cheque book at home, plus on mine i can take money over the phone, for mail order etc.

chris

[Chris Dowd]

If your an FSB member, you can get preferential rates with Streamline and no admin fee and the first 3 months terminal rent free (worth more than your FSB membership alone).

We have this, and our bank (who own Streamline) can’t even compete.

[Peter Mindham]

Agree with both Chris’s. Beware of customer not present transactions however as they can be fraudulent. I have a major bill I am still paying off from 5 years ago thanks to a fraudulent use of cards on one of my terminals.

Peter

[Ian Bingham]

FSB?

[Chris Dowd]

Federation of Small Businesses

[Nigel Hindley]

I can highly recommend Streamline – I have tried numerous companies but Streamline are the easiest to set up and operate. Do a search on the internet. In my experience your own bank can rarely compete with 3rd party companies.

You can just charge your customer the percentage you get charged anyway – more and more people are doing this, they still pay by card because it easier. Its a neglible amount to the customer but it does add up for you. If you customer doesnt like this just get cash or a a cheque – and you dont pay the charge. Or get them to pay by switch – fixed fee I think I only get charged 25p a go?

You get discount for FSB membership (as already stated you can also get a discount for being a member of a tourist baord. I assume there are lots of other groups etc that you may get a discount for being a member of? may UK signboards????????

Hope this helps

[Ian Bingham]

will look at that
Thanks
Ian

[David Rowland]

Switch died out… replaced with Maestro

[Ian Bingham]

I know

its like calling a vacuum a hoover, old habits

Ian