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#31
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In article ,
When Debit cards came out a few years back, many merchants were charging about 25 cents for DEBIT transactions until it was widely pointed out that a debit transaction cost much less (one cent) than processing a paper check. The AM/PM gas stations (ARCO) around here kept the practice in place for about two years after the other merchants went to doing it free. I stopped going to those stations and don't know if they STILL do it. I've always wondered why I can use my debit card w/o a service charge any place EXCEPT a bank I can even get cash back, but there's no extra fee. But if I go to a cash machine... |
#32
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Compass Bank in AZ will rebate any bank's ATM fees.
-- Kevin McCue KRYN '47 Luscombe 8E Rans S-17 (for sale) -----= Posted via Newsfeeds.Com, Uncensored Usenet News =----- http://www.newsfeeds.com - The #1 Newsgroup Service in the World! -----== Over 100,000 Newsgroups - 19 Different Servers! =----- |
#33
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Although I understand your frustration, I would throw in the towel and
get with the credit cards. Cash is going to be obsolete and so are checks. Credit card and wire transfer are going to be King. It's just the way it is, more convenient, faster for everyone. Your customer loves them. It's what is happening. "Kevin McCue" wrote in message ... There was just a class action settlement on check/debit cards. The merchants "won" (acutally the lawyers got money) the merchants can now stop taking those Visa/Mastercard debit/check cards. ARCO stations get around it by not taking credit cards at all. They have ATM's where you can get cash to feed the pumps. As for my business, we take cards. When asked if we take credit cards, our response is, "We prefer cash or check." I have made a few sales that entered "negotiations" (aka Let's make a deal). When I have given a discounted price I have insisted on cash or check. I'm sure you all like to get paid 100% of what you have worked for, Merchants are no exception. -- Kevin McCue KRYN '47 Luscombe 8E Rans S-17 (for sale) -----= Posted via Newsfeeds.Com, Uncensored Usenet News =----- http://www.newsfeeds.com - The #1 Newsgroup Service in the World! -----== Over 100,000 Newsgroups - 19 Different Servers! =----- |
#34
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Doug wrote:
Although I understand your frustration, I would throw in the towel and get with the credit cards. Cash is going to be obsolete and so are checks. Credit card and wire transfer are going to be King. It's just the way it is, more convenient, faster for everyone. Your customer loves them. It's what is happening. Just like that 'paperless office' we keep hearing about, while simultaneously being buried under an ever increasing avalanche of it? Pardon the pun, but I don't buy it. g -- Jeff 'The Wizard of Draws' Bucchino "Cartoons with a Touch of Magic" http://www.wizardofdraws.com http://www.cartoonclipart.com |
#35
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"Ron Natalie" wrote in message . .. "Newps" wrote in message news:ygdqb.113585$Fm2.101748@attbi_s04... Must be an eastern thing, never heard of that. Actually, it's an "internet bank" thing. Since these have no brick and mortar branches (and hence ATM's), they will generally credit you the charges back for whatever ones you do use. Considering it costs about $100K for each ATM, plus periodic maintenance, it's great business sense for the eBanks to use competitors machines (which are in place, at great cost) and just refund the fees the ATM owner charges. Their customers would have to use EACH SINGLE ATM machine 30,000 to 50,000 times to cover the cost of having their own. |
#36
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"'Vejita' S. Cousin" wrote in message ... In article , When Debit cards came out a few years back, many merchants were charging about 25 cents for DEBIT transactions until it was widely pointed out that a debit transaction cost much less (one cent) than processing a paper check. The AM/PM gas stations (ARCO) around here kept the practice in place for about two years after the other merchants went to doing it free. I stopped going to those stations and don't know if they STILL do it. I've always wondered why I can use my debit card w/o a service charge any place EXCEPT a bank I can even get cash back, but there's no extra fee. But if I go to a cash machine... Because the machines in place at merchants are paid for _by the merchant_. The ATM machines you use from a competitor bank cost the competitor bank around $100,000 to install and setup. |
#37
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"Kevin McCue" wrote in message ... Compass Bank in AZ will rebate any bank's ATM fees. Because they own no machines outside their own locations (typically Albertson's food stores). |
#38
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"Tom S." wrote in message ...
"Ron Natalie" wrote in message . .. "Newps" wrote in message news:ygdqb.113585$Fm2.101748@attbi_s04... Must be an eastern thing, never heard of that. Actually, it's an "internet bank" thing. Since these have no brick and mortar branches (and hence ATM's), they will generally credit you the charges back for whatever ones you do use. Considering it costs about $100K for each ATM, plus periodic maintenance, it's great business sense for the eBanks to use competitors machines (which are in place, at great cost) and just refund the fees the ATM owner charges. Their customers would have to use EACH SINGLE ATM machine 30,000 to 50,000 times to cover the cost of having their own. Just a minor correction. It costs nowhere *near* $100,000 for an ATM. Cash dispensers can cost as little as $10,000, while good full-service ATMs can be had for $25,000. We just installed a new drive-through ATM at one of our branches. Total costs for the ATM + installation came to under $32,000. The ongoing costs are significant, but certainly not outrageous. The breakeven numbers for cash dispensers in particular are very low indeed. Cheers, Cap |
#39
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"Tom S." wrote in message ... Considering it costs about $100K for each ATM, plus periodic maintenance, it's great business sense for the eBanks to use competitors machines (which are in place, at great cost) and just refund the fees the ATM owner charges. Their customers would have to use EACH SINGLE ATM machine 30,000 to 50,000 times to cover the cost of having their own. The cost would also involve finding someplace to put it. Perhaps with some national aliance with some place like 7-11 or Exxon stations could do it, but otherwise they'd have to real scramble to arrange with people to allow them to install these things. By the way, I only paid $20 for my ATM, and I think I bid too high. |
#40
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On Wed, 5 Nov 2003, Doug wrote:
Although I understand your frustration, I would throw in the towel and get with the credit cards. Cash is going to be obsolete and so are checks. Credit card and wire transfer are going to be King. It's just the way it is, more convenient, faster for everyone. Your customer loves them. It's what is happening. Maybe customers wouldn't love them as much if they knew how much they add to the cost of their purchase. Credit card sales cost merchants a lot more than most people realize. Of course, that comes out of the merchant's pocket... but where do you think the merchant's money comes from? All in all, cash is a much better deal for both customer & merchant; the only ones who win when a credit card is used are those in the business of issuing credit cards or processing transactions. -Dan |
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