credit card sign

Do you think it is rude to put up a sign saying "We do accept credit cards, but we prefer cash"?. Not sure if people will be offended or not. The money doesn't go into my account for two days, and Saturdays and Sundays don't go in until Tuesday. What do you all thnk.?

How much of every $1 do you pay for the credit service?

Everything is negotiable...how much more would they charge for next day availability?

It all boils down to the cost/benefit.

Allison, I'm absolutely not an expert on this subject, but friends of mine have a restaurant in downtown Louisville and they are very happy with the new "SQUARE" credit card processing service. I noticed that they offer "next day payout". The services include:

Free Credit Card Reader -- pocket-sized credit card reader that plugs into your phone’s audio jack.
Gorgeous App
Simple, elegant app for your Android, iPhone, iPad, or iPod touch.
Transparent Pricing
2.75% per swipe for all credit cards.
No monthly fees or contracts.
Fast Setup
Take your first credit card payment within minutes of signing up.
Safe and Secure
Square ensures safety for you and your customers.
Next-Day Payout
Automatic daily deposits to your bank account.

See https://squareup.com/ for details.

Hope this is helpful to you.

Lois

Alison, as a customer I think the sign you mentioned in your original post would be just fine. I don't feel it's offensive in any way. Your preference for cash is very understandable and I'm sure you would be glad to share the reasoning with anyone that asked, and they would understand the reasoning. Disregarding how long it takes to get the money into your account there's still the loss of a percentage of your sales no matter what.

Thanks Mark. I quite understand someone swiping for a $30 order, it's just the $1.66 for a small cone that gets me, although I did swipe for a lighter at a gas station last week, so I cannot really talk!!. I thought it just might make people think to use the cash they have instead of automatically reaching for the card.

Alison, as a customer I think the sign you mentioned in your original post would be just fine. I don't feel it's offensive in any way. Your preference for cash is very understandable and I'm sure you would be glad to share the reasoning with anyone that asked, and they would understand the reasoning. Disregarding how long it takes to get the money into your account there's still the loss of a percentage of your sales no matter what.

How about offering a 5% discount for cash users?

Do you think it is rude to put up a sign saying "We do accept credit cards, but we prefer cash"?. Not sure if people will be offended or not. The money doesn't go into my account for two days, and Saturdays and Sundays don't go in until Tuesday. What do you all thnk.?

This wouldn't bother me the least bit.

[Robin Garr]

Allison, I'm absolutely not an expert on this subject, but friends of mine have a restaurant in downtown Louisville and they are very happy with the new "SQUARE" credit card processing service. I noticed that they offer "next day payout".

I got that just for my own personal use, and it's amazing! Anybody can take credit cards, it accepts all the majors, and the money goes into your bank account at fees comparable to the merchant banks' small-business fees, with no muss and no fuss. The little bitty card swiper goes into the earphone jack of your smartphone and it works like a champ.

I just got Square also for my businesses. My only complaint is that it's so darn small I'm afraid I'm going to lose it! I also haven't quite got the hang of getting it to go thru on first swipe, but overall I really, really like it. I still have a regular credit card machine for the B&B, but I'm trying to talk hubby into dumping it too!

Do you think it is rude to put up a sign saying "We do accept credit cards, but we prefer cash"?. Not sure if people will be offended or not. The money doesn't go into my account for two days, and Saturdays and Sundays don't go in until Tuesday. What do you all thnk.?

I'd prefer this approach (and the associated honesty) over the aggressive, off-putting signs many businesses use to warn me against trying to use plastic for a smaller purchase. If I understand correctly, such limitations are against the agreements the establishments have with the credit card provider. There's one local bar I'd love to report to the credit card institutions, but I'm not sure what I'd get out of that, other than a sense of (false) empowerment.

Alison, I can't say I'd always pay with cash, as I often am not carrying cash. But were I to read your sign and were I to have cash on me, I'd play along.

Do you think it is rude to put up a sign saying "We do accept credit cards, but we prefer cash"?. Not sure if people will be offended or not. The money doesn't go into my account for two days, and Saturdays and Sundays don't go in until Tuesday. What do you all thnk.?

I'd prefer this approach (and the associated honesty) over the aggressive, off-putting signs many businesses use to warn me against trying to use plastic for a smaller purchase. If I understand correctly, such limitations are against the agreements the establishments have with the credit card provider. There's one local bar I'd love to report to the credit card institutions, but I'm not sure what I'd get out of that, other than a sense of (false) empowerment.

Alison, I can't say I'd always pay with cash, as I often am not carrying cash. But were I to read your sign and were I to have cash on me, I'd play along.

After posting, I decided to google the issue to check my facts. Seem such credit card limits (under 10 dollars) are now allowed following a 2010 financial reform bill. Guess I'm in the wrong, regarding that local bar that annoys me.

Hi Allison,
As you know I am in the CC business. My company now offers next day funding, and Monday funding of weekend sales for Visa, Amex, MasterCard, and Discover.. We are endorsed by the National Restaurant Association for this reason and others. Square is a good option for folks who don't need a POS or Cash Register/CC Terminal expense. However their rates are much higher.

BTW, if you have been following the Durbin Bill, your Debit/Check card rates could be reducing by nearly 50% starting Oct.1, This will make Square's "one rate fits all",, even higher.

You could PM me and I would be glad to help.

Thanks for all the advice guys. I cannot change my company as I am in a contract with them, and after closing Highlander Point I only finished paying off my contract with my original company this month. The percentage they charge is OK, I just don't like waiting for my money!! particulary the weekend charges which are usually double the weekday ones. No-one has taken offence yet, and two people have scraped together cash, Heck I would take it all in pennies to avoid paying the charge!

I don't think it's too offensive. I'm in the crowd that seldom has cash on them, but I may try to remember it for the next time. If you get a better rate on a debit vs a credit, or signature vs pin, you may even want to mention that. Several places I frequent get better rates on one over the other and I'll pay with the preferred method.

I find the discussion about the "SQUARE" credit card service interesting but it also scares me a little bit. If I saw somebody "swiping" my credit card with their smart phone I would definitely think they were stealing my card information because that's how many thefts of the information occur! I guess this concern may be unfounded but I tried to protect my identity as much as possible and put it in the same category as I would a card with RFID capabilities which I will not use nor accept.