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Off Topic Off Topic - General non-Corvette related discussion. |
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09-23-2022, 12:56pm | #1 | ||||||
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Non cash use fee.....
When businesses open up and take credit cards along with cash as payment they agreed up front to pay the fee associated with the credit card use. Same with debit cards.......fast forward to "covid" ....businesses didn't want to touch cash because depending on what day it was the covid cooties were transmitted in various ways.
Don't you think it's wrong to charge this fee when it's considered to be a "cost of business" expense ? |
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09-23-2022, 1:00pm | #2 | ||||||
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I think there should be a discount for cash.
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09-23-2022, 1:08pm | #3 | ||||||
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Credit card fees cost businesses alot of money... American express is the highest IIRC.
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09-23-2022, 1:13pm | #4 | ||||||
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Then the other option is to be a cash only business ....I have gone to restaurants that will not accept Amex for that reason. When I was a partner in the company we did take credit cards.....rare it was but when we did we paid the fee.
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09-23-2022, 2:21pm | #5 | ||||||
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At this point cash may be more expensive for a business to receive. It’s more likely to be stolen/lost, then has to be deposited to the bank in order to make any bill payments.
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09-23-2022, 5:49pm | #6 | |||||||
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09-23-2022, 5:54pm | #7 | ||||||
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Actually they simply jack up all their prices by 3% to cover the processing fees, In effect the people who pay cash are subsidizing the people who use credit cards. This is why I always pay with a credit card, pay it off in full every month, and collect all the cash back rewards.
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09-23-2022, 6:04pm | #8 | ||||||
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I don't know if the rest. or biz is actually making a profit from CC?
I know they pay a fee to whatever company processes the CC transactions. |
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09-23-2022, 6:56pm | #9 | ||||||
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09-23-2022, 7:14pm | #10 | |||||||
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09-23-2022, 8:42pm | #11 | ||||||
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09-23-2022, 10:40pm | #12 | |||||||
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Quote:
Try and match that with cash transactions: taking to the bank, cashier's time, loss percentage... |
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09-24-2022, 5:44am | #13 | ||||||
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I have boat mechanics, tree trimmers, pressure wash guys, pest control people, etc.. that routinely work around my house; none of them balk at cash, all of them give me a discount for it....
With 87,000 new IRS agents and this adminstration wanting to track every $600 transaction I think cash will be around for a LONG time... |
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09-24-2022, 7:51am | #14 | ||||||
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If for instance every diner raised the price of everything by ten cents,I bet hardly anyone would blink an eye and not bitch.....they would probably make more then with the charge that upsets most people.
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09-24-2022, 8:06am | #15 | ||||||
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09-24-2022, 8:16am | #16 | ||||||
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09-24-2022, 8:44am | #17 | ||||||
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This. All a waiter has to do is not go to the cash register. Pocket the cash, thank the customer and reset the table.
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09-24-2022, 10:20am | #18 | ||||||
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Do you think the waiter drives a big block?
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09-24-2022, 10:31am | #19 | |||||||
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Governments around the world are working hard to introduce digital currencies controlled by their respective central banks. When paper money is replaced by a digital currency every single transaction, no matter how small, is automatically tracked and logged. Governments are creaming their jeans over that kind of control. |
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09-24-2022, 11:06am | #20 | ||||||
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Great so when the choice is eat or pay 250k in medical bills you starve as it'll be automatically taken for bills first. Hasn't there been a bunch of sci-fi horror movies about this type of control...
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