Have you been surprised by the price of our card payment terminals? UK Business Buddy conducts cost comparisons on your customer card payment charges to the bank and when we do this, the first thing we’ll ask you for is a full merchant statement. We’d like to explain why our monthly terminal fees are often higher than you already pay and why that will actually save you money.
Our founder, Nic recently spoke with a business that has two sites of operation.
The customer was dealing with one of our major competitors and was quite happy to share that she was only paying £19 a month for her card terminals. Nic shared some advice with the Business Associates, saying;
‘A less experienced version of me would think, “What’s the use of continuing this conversation? That’s a very low price for card terminals.” However the older, wiser me asked to verify the information by taking a look at the merchant statements. I found that she is indeed ‘only’ paying £19 a month per terminal, but on top of that were additional fees she hadn’t recognised on the statement;
- £4.99 PCI (Payment Card Industry) Data Security Standards compliance
- £12.95 client line (which behaves like a portal for account management)
- £25 minimum monthly service charge (which she has always been charged).
This lady was paying a grand total of £61.94 a month.’
She was under the impression she had a good deal at just under £20 a month for her card terminal, but complicated statements, with unclear explanations of fees and no personal contact with an advisor made it unclear that she could avoid certain additional fees.
How £45 works out less costly than £19…
UK Business Buddy is going to help this lady by buying her out of the two contracts (one for each site), that she only entered into this year. The penalty fees for closing contracts this early normally run high, but with our Christmas promotion we are giving her £1,000 to help towards the cost of this.
The costs we have secured for the new card payment terminals is a surprising £45 each.
Yes, £45 a month per terminal!
However, we have made her an equally surprising saving of 28% a month, and here’s how;
- No minimum monthly charges
- No charge for access to your account details or a personal Business Associate for advice
- No separate PCI (which our new customer finds difficult).
Plus, she now has a host of additional benefits, rather than additional fees;
- Next day funding, rather than 3-4 day delays
- Local support on site, over the phone or via video link
- Marketing support through case studies, blogging and social media
- Employee benefits programme.
Our lady is over the moon, but the moral of the story is, don’t trust the monthly card terminal charge…
That’s why we will always ask to see your merchant statements because you just don’t know what secret charges are hiding there.
Move to UK Business Buddy and we’ll help you save, each and every month
You too could make significant savings on your card payment charges and card terminal fees. It costs nothing for a cost comparison by one of our Business Associates, so call 0800 0461804 or email hello@ukbusinessbuddy.com and arrange an appointment today. Can you afford not to?
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