To make sure you are not over paying for credit card processing, we have found it to be a good practice to bid out credit card processing every year or two. Credit card use is expanding with more customers opting to pay this way, and some some credit card processors charge considerably more than others, and market processing fluctuates, so getting bids can save considerable money. The bid process does not take too much of your time-the bidders usually just need a recent statement from your current processor. Many owners are paying more than they need to.
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Mike Gately CPM
Trusted Self Storage Professionals
San Antonio TX
(210) 508-6450
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Original Message:
Sent: 02-05-2021 03:18 PM
From: Ginny Sutton
Subject: Credit Card Fees
Most user credit card acceptance user agreements prohibit you from charging a surcharge to customers who want to use credit cards to pay. The discount fees associated with accepting credit card payments are typically considered the "cost of doing business" by most business owners today and get built into their pricing or revenue models. You can, however offer a discount to those who want to pay in cash (if you accept cash, which we typically don't recommend) or by check rather than a credit card. But be sure the way you offer this discount complies with your provider's rules.
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Ginny Sutton
Executive Director
Texas Self Storage Association, Inc.
Round Rock TX
(512) 374-9089
Original Message:
Sent: 01-13-2021 17:51
From: Kristy Breaux
Subject: Credit Card Fees
Do you charge your customers an additional fee to pay with a credit card to cover the processing fee the merchant charges?
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Kristy Breaux
Texas Self Storage Association, Inc.
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