credit card fees

[MikeV]

I know this has been talked about before, but I guess I'm just to lazy to look for it. I am using Wells Fargo for my credit card processing and the fees are outrageous. Is there an alternative to Wells Fargo to process credit cards? The only thing I'm using credit cards for is on my WSII in my IBA. Thanks

 

[madscientist]

The Unitec website lists their preferred providers, who are familiar with their equipment setup. You can call around and see if anyone can beat your current rates.

 

[MEP001]

I've seen a flyer on the customer service desk at Costco that offered something really low like 2 1/4% and no transaction fees.

One local guy I know uses Regions Bank and says their fees are really good.

 

[washnvac]

I just received a call from TSYS. They said they have teamed up with Hamilton to provide the best rates in the biz. They say no more than a final realized percentage of 3.5-4.0. I have a couple with Global Payments averaging 9%, and one with NPC averaging 8.5%.

Has anyone used or switched to TSYS and seen these actual percentages?

 

[Earl Weiss]

You always need to compare apples to apples. hey often quote their fees but that's plus other fees like interchange fees so you can't just look at your bill and comapre your total fees to what they quote you.

 

[PaulLovesJamie]

final realized percentage of 3.5-4.0.

I call bs - if it really only cost us 3.5-4% they would advertise here and we would all switch immediately. As Earl pointed out, they are probably quoting the rate that they make, or some other part of what you pay. I consider this to be deceptive selling, and quite frankly it ticks me off quite a bit.

Here's a response from Steve569 indicating that tsys "final" rate is more like 9-10%.
http://www.autocareforum.com/showth...ley-users-who-switched-to-TSYS&highlight=tsys

I switched one of my washes to TYSYS From Bluepay . I have not had any trouble with TYSYS it has worked well and they provide me with an 800 number. As far as rates go Bluepays total fees were about 11% TYSYS said they would be in the 7% range but it actually has ended up in the 9-10 % range so there is not that much in savings. To be fair though my minimum is $2.00 and I am in a rural community and they are careful with their money so I have a lot of low transactions.

 

[mmurra]

TSYS is a legit company. I priced them and compared the offer to my existing ripoff provider (Worldpay). They dropped the rate to meet the TSYS offer. I think the best bet is to work hard with your current provider. Volume and relationship history are your best bargaining tools. Marfk