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Credit Card Merchants for Retail

  • 28-10-2009 1:21pm
    #1
    coillcam
    Registered Users, Registered Users 2 Posts: 1,796 ✭✭✭


    I am opening a retail unit with my business partner in the near future and I am looking for recommendations on which merchant offers the best service.

    Our business banking is with AIB currently.

    I am not sure of exactly what the average transaction charge will be but it's fair to say it will be higher than €50 as we specialize in Computer Sales and repairs for private and business clients.


Comments

  • #2
    tombull82
    Registered Users, Registered Users 2 Posts: 910 ✭✭✭tombull82


    + 1 on this i'm lookin for the same at the moment.


  • #3
    arctictree
    Registered Users, Registered Users 2 Posts: 4,364 ✭✭✭arctictree


    Options are AIB MS (Merchant Services), Elavon (BOI) and Ulster Bank.

    I have lots of experience with AIB MS and they seem to be very good. You will be charged a percentage for credit cards (around 2%) and a fixed per transaction charge for Laser (about 15c). So if you are processing large transaction amounts, try to get your customers to use Laser!

    You will also be charged rental for the equipment.


  • #4
    soma
    Registered Users, Registered Users 2 Posts: 602 ✭✭✭soma


    I did research for this a few months back - we went with Elavon (BOI) at 1.89% (which was streets ahead of the competition IIRC?) and the terminal units are fast and easy to use.

    One down side - we're also using Elavon to process online transactions and setup was sllllllllllllllllllow (~2 months - Im not sure if we just got unlucky with some paperwork etc).


  • #5
    coillcam
    Registered Users, Registered Users 2 Posts: 1,796 ✭✭✭coillcam


    Thanks for the replies guys we went with BOI. Just sending off the application as I type.

    I got the quote based on €30k - €50k per year in transactions at an average of €150 per transaction.

    We got offered:
    €100 installation and registration.
    1.87% on C.Cards/Visa Debit
    25c per laser transaction
    €25 p/month rental
    €30 Minimum monthly transaction fees.

    So I am very happy with the return.

    - BOI connected my call straight through to someone on the Sales team and offered the above deal.

    - AIB put me on hold ages and referred me. Got a call back that day though to a rep after pushing. They were more expensive at €190 installed, 2.5% with C.Cards, the rest of charges were the same.

    - Ulster Bank, I had to call about 5 different numbers to finally get through. Was told 48 hours to get a call back. Pushed and got a reply the next day. Virtually identical fees to AIB.

    - NIB could not deal with me as we had to have an NIB account. Sales Person didn't seem to know as much as with the other banks.


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