Ron is right

Russ Spence

Russ Spence

Commercial Pressure Wash Expert
I was always blinded thinking that accepting credit cards would be more of a hassle and a head ache.

We started accepting them and have found that many vendors actually like paying with them, I have had only a few accounts set up this way so far but we are getting way better cash flow from a few of our commercial accounts that normally we would have had to wait 4 to 6 weeks for, now we turn the money around in 48 to 72 hours, usually 48!

Thanks Ron for the heads up even though it took us two years to believe you.
 
Russ Spence said:
I was always blinded thinking that accepting credit cards would be more of a hassle and a head ache.

We started accepting them and have found that many vendors actually like paying with them, I have had only a few accounts set up this way so far but we are getting way better cash flow from a few of our commercial accounts that normally we would have had to wait 4 to 6 weeks for, now we turn the money around in 48 to 72 hours, usually 48!

Thanks Ron for the heads up even though it took us two years to believe you.
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I thought your cooking? LOL....saved my butt a few months back when no one was paying.
 
who are you guys using for merchant services... can you give an idea of monthly fees and percentages being charged.

I have got 2 meetings this meet, Bank of America and Suntrust to find out about their merchant services.

no not cooking yet, in about 20minuites

Steak and shrimp on the Barbie!

Baked Potatoes and tossed salad.

oh and sweeeeeeeeeeeet tea

Simple enough
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exactly what i've just had... minus the shrimp! :)
 
Steven Button said:
who are you guys using for merchant services... can you give an idea of monthly fees and percentages being charged.

I have got 2 meetings this meet, Bank of America and Suntrust to find out about their merchant services.



exactly what i've just had... minus the shrimp! :)
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We've used Quickbooks online for a couple of years now. We've got it automatically set up to bill on the first day of each month we do service. We don't have to do anything, it just does it automatically. That would have been sweet when we were billing around a thousand dry clean customers each month. Back then I had to write a program myself that downloaded all the charges in a CSV format and then import it into my credit card software.
But we still mailed them statements each month.
Now all statements are emailed except for about 20.
 
Russ Spence said:
no not cooking yet, in about 20minuites

Steak and shrimp on the Barbie!

Baked Potatoes and tossed salad.

oh and sweeeeeeeeeeeet tea

Simple enough
Click to expand...

Shrimp and crawdaddies here yest afternoon.....ate so much I could not enjoy my beer. (at least for about 45 minutes anyway)
 
Steven Button said:
who are you guys using for merchant services... can you give an idea of monthly fees and percentages being charged.

I have got 2 meetings this meet, Bank of America and Suntrust to find out about their merchant services.



exactly what i've just had... minus the shrimp! :)
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I went thru our bank where our business account is, it was just easy that way
 
I've been going that route for a lil under a year now on a local fleet i wash weekly. each Truck has a C. card in it and we just swipe each one and get paid in 48 hrs. works better than the 5 weeks they were takin to pay me
 
You can get them as low as 1.9% I've seen. They will give you the equipment but there's a cancellation fee if you're not happy with the service and want to cancel. Some have a minimum number of transactions and a monthly fee that can kick in. You have to shop them hard and read the fine print. It's a very competitive business. Your bank may have the best deal.

I changed services once and they kept hitting my bank account for a few months for the minimum. Never did get a refund.
 
Russ Spence said:
we are 2.1 !

Must be cost of living
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I thought mine was 1.6. I know thats what I had when I had the dry cleaners. But now with all that 2.1 and 2.2 stuff I've got to go check. I bet they're nailing me since I don't have a zillion transactions going through now.
 
Check your actual rate there is the 2-1/2.1 plus the processing fee plus the stamtnet fee and "discount fee" usually it all ends up around 2.5-3% still not bad better than waiting 90 days to get paid.
 
I have a meeting with a company this Thursday to look into it myself and she says 1.9 but I don't know all the details yet on the rest if any fees. Maybe I can get one of the big corps I do business with to pay faster now.

Oh by the way I love you GREEN DOTS Tony ........LOL
 
Xtreme Klene said:
What kind of equipment are you using to swipe cards mobile? I was told some cell phones have it built in.
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We don't do any swipes. We're old school, if a customer wants to pay on the spot we right it down and go back to the office and punch it in. Most are put in the computer and charged automatically every month/quarter/yr whatever applies.
 
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