Accepting Payment by Credit Card

[Turboman]

I have a potential customer who wants to pay for some building works by credit card (over £8000) as he's either got 0% or will tranfer to 0%.

We do not have facilities as we have never had a need-I know that normal on-line bank accounts have facility to transfer money to another persons account--so I assumed Barclaycard etc had--but on perusing Barclaycard site, it appears not. Are all on-line Credit Card Account management sites similar?

If so, does anyone know of a method?

After using Google, I have seen Worldpay at £200 enrollment plus £30/mth plus a significant % of each transaction--and the costs are prohibitive for a one-off.

Turbo

[Paule]

Re: Accepting Payment by Credit Card

Theres always the dreaded paypal, which again occurs a fee, and TBH I wouldnt put £8k through them.

Have you asked your bank if they have any facilty to do this for a one off transaction?

Some bank enable credit card cheques, but as these usually count as a Cash Purchase I suppose your client would not use this.

PKea

[Amethyst]

Re: Accepting Payment by Credit Card

Worldpay is expensive and only worth doing if you are an online retailer.

If this is a one off I wouldnt set anything special up for him, a credit card cheque would be fine if he then transfers balance to a zero % card he shouldnt lose too much on the interest front either.

[Turboman]

Re: Accepting Payment by Credit Card

Thanks for replies--I'll try the Bank today, if not I'll raise the Credit Card cheque idea with him

Turbo

[theGobbyOne]

Re: Accepting Payment by Credit Card

Credit card chequewill count as cash purchase and it will cost 2% of the £8000 which is in my calculation £360(I think!!!!!!!)

[natweststaffmember]

Re: Accepting Payment by Credit Card

The credit card cheque encashment charge will be incurred by the potential customer and not turboman. If it is a regular customer then it may be worth looking into it but would having the facility to take credit cards increase turnover in the business? Is the potential customer going to be someone who will become a major customer? Is it worth the hassle?

[argentarius]

Re: Accepting Payment by Credit Card

Credit card cheques don't necessarily count as cash purchases.

MBNA and many others (Capital One, Mint, ...) count credit card cheques as balance transfers most of the time.

2% of £8,000 is £160, TheGobbyOne.

[theGobbyOne]

Re: Accepting Payment by Credit Card

Credit card cheques don't necessarily count as cash purchases.

MBNA and many others (Capital One, Mint, ...) count credit card cheques as balance transfers most of the time.

2% of £8,000 is £160, TheGobbyOne.

pmsl.................yes well am blaming the wine I ahd drunk before I tried to work it out:tinysmile_aha_t:

[argentarius]

Re: Accepting Payment by Credit Card

Ah, well, I did that calculation at work early in the morning when I could think straight, unlike now after a few glasses of wine with my dinner.