(Lamar County Lake Specific)
0 messages
Updated
Lakes Online Forum
83,647 messages
Updated 6/3/2024 8:27:48 AM
Lakes Online Forum
5,195 messages
Updated 5/31/2024 4:36:53 AM
(Lamar County Lake Specific)
0 messages
Updated
Lakes Online Forum
4,169 messages
Updated 4/15/2024 11:05:05 PM
Lakes Online Forum
4,261 messages
Updated 5/28/2024 6:31:10 AM
Lakes Online Forum
2,976 messages
Updated 3/20/2024 11:53:43 PM
Lakes Online Forum
98 messages
Updated 4/15/2024 1:00:58 AM
|
|
|
|
Name:
|
Barneget
- 
|
|
Subject:
|
some clarity re debit/credit cards
|
|
Date:
|
6/9/2011 8:41:08 AM
|
|
Banks and credit card issuers charge merchants multiple fees each time the plastic is swiped. I pay the fees, and like most every other expense, build it into the cost of doing business. Last year, my fees totalled more than $700,000 dollars, a number larger than my rents and labor combined. Debit averaged about 1.25%, Visa/MC just over 2%, Discover over 3.3%, and AMEX at 4.33%. Merchants were, by contract agreement with card issuers, prohibited from charging the user any additional fees. So, we spread the cost over all customers. The DoddFrank financial reform law, enacted last year, does alot of no good dirty things. The component supported by retailers limits bank transaction fees and allows for the collection of associated costs from the individual user. Senate hearings concluded yesterday with the decision to allow implementation. Bank customers will see higher fees associated with most consumer bank services, retail customers may see higher transaction costs associated with their method of payment. Do you think merchants will reduce their weighted retails as the surcharges roll out?
|
|
Reply
Back
Search
Off-Topic Forum
»
Alabama Lakes
»
Lamar County Lake
Login
|
Home
