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The Water Cooler
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Credit card "tax"
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<blockquote data-quote="ConstitutionCowboy" data-source="post: 4065603" data-attributes="member: 745"><p>I believe the best way for a business to handle the credit card fees is to build the fees into their cost of doing business. To make it fair for those who pay cash, a discount can be applied to cash sales, equivalent to what the credit card fees would be.</p><p></p><p>Transactions by check are handled just like a credit card or debit card payment and the check is generally handed back to the buyer(Some businesses retain the processed check.) as the transaction is completed via an Electronic Funds Transfer (EFT), via an Automated Clearing House (ACH), so no discount for paying by check.</p><p></p><p>Easy-peasy.</p><p></p><p>Woody</p></blockquote><p></p>
[QUOTE="ConstitutionCowboy, post: 4065603, member: 745"] I believe the best way for a business to handle the credit card fees is to build the fees into their cost of doing business. To make it fair for those who pay cash, a discount can be applied to cash sales, equivalent to what the credit card fees would be. Transactions by check are handled just like a credit card or debit card payment and the check is generally handed back to the buyer(Some businesses retain the processed check.) as the transaction is completed via an Electronic Funds Transfer (EFT), via an Automated Clearing House (ACH), so no discount for paying by check. Easy-peasy. Woody [/QUOTE]
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