MyPalAl

Card Machine Supplier

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Hi all,

I have been with Barclaycard for my card machine, taking debit and credit card payments, for 12 years, and recently received a letter saying all their charges are changing. The reason I have stayed with them for so long is that I bank with Barclays, and their payments hit my bank in 2 working days rather than what I believe to be the normal 3 days.

Question is, do any other card providers offer 2 day payment? Cash flow is important so I would rather pay a little bit more to have the comfort of the 1 day quicker payment, but Barclaycard predict I will be paying £35 a month more with their charges.

Any advice would be gratefully appreciated.

Many thanks.

(PS, I have also posted this in the FAQ section in error!)

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We use PayPal, cash arrives in our account instantly and then we're able to transfer it into our bank account, again instantly :)

At first you have a £2K restriction per 7 days, anything after the £2K is held for 21 days and then released.

However they review the restriction after you have exceeded the £2K and increase it (in our case it is £6K every 7 days).

Have a look at it as the all singing all dancing PayPal card reader is only £70 with no monthly commitment.

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I was with Barclaycard, now with Worldpay, takes the same amount of time for funds to reach account. No regrets.

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 Card machines/processors....I am out of touch,can any of you guys tell me if you have a system where every card payment you receive can be individually referenced to make accounting easier ?

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20 hours ago, trade vet said:

 Card machines/processors....I am out of touch,can any of you guys tell me if you have a system where every card payment you receive can be individually referenced to make accounting easier ?

 

Yes it can, I just go online and login to Worldpay to see any transactions listed.

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1 hour ago, D7neo said:

what percentages are you guys paying for card payments?

1.4% + 20p flat across all car types including Amex.

I use Stripe, don't have a card reader, just an app on my phone where the customer can input their card details and wallop, it's in my stripe account and i can email a receipt straight to them.

I also try and steer people towards cash or BACS, depending on the type of person I'm dealing with.

 

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Ive decided to change and encourage customers to do bank transfers to reduce costs. Ill take a card if I have to, but in the last month not had one person complain about doing a bank transfer. Money there instantly, thats the best cashflow!

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7 minutes ago, Matt Reid said:

Ive decided to change and encourage customers to do bank transfers to reduce costs. Ill take a card if I have to, but in the last month not had one person complain about doing a bank transfer. Money there instantly, thats the best cashflow!

Exactly our method 

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11 hours ago, Screenman said:

 

Yes it can, I just go online and login to Worldpay to see any transactions listed.

Thank you for that..Screenman

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On 21/02/2018 at 0:54 PM, MrC said:

Bank transfer every time for me. 

Yes agreed, our average sale value is £28,000 and we only accept bank transfer, although I have a paypal here machine to take up to £500 deposit if required. 

We have an FCA license which gives some customers some comfort, however I say to customers who are limited to the £10k per day transfer limit then split it over 2 or 3 days before handover. 

Very few moan about paying before getting the car but I do point out to the few that are nervous how they pay for their holiday before walking up the steps to the plane, if I ever get anyone who is uncomfortable I just say they are our terms of business and if you don't trust us then please don't buy a car from us, simple!

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I had a customer earlier this week come to collect his camper and pay the balance.. £22500 transferred on his phone! I thought there is no way this is going to go through but 2 seconds later Im rich!

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World pay for us aswell, money is in our account in 2 working days, used have the money first thing on the 2 working day now its in our account mid afternoon usually between 3pm and 4pm. We also steer payments by bank transfer as debit and credit cards are now charged at a percentage. Try to take deposits only by card. 

  

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