Merchants charging customers cc fees

[SR]

This is illegal according to banks. However of recent quite a few businesses have been charging customers the 3% fee that they pay to the bank for having credit card payment facilities. If you have expereinced this you need to report it to your banks credit card centre. If the merchant is with the same bank they will be warned and if they continue the practice the credit card facilities can be taken away as wel as the merchant be blacklisted across all banks for credit card facilities

[SR]

There is also no minimum purchase required to allow usage of linx or cc as payment

[pioneer]

A superb technology store in puna also does this.

[pete]

Would you rather they not accept credit cards at all?

[francis1979]

This not in defense of the merchants. It is just for information.

merchants pays 3 to 4% of your purchase to the bank as commission when you use your credit card.
So I guess it is a method of keeping prices low otherwise they have to increase their prices to cover the fees.

Some merchants in the USA have their standard price; but offer a discount if you pay with cash. One specific merchant offered a 5% discount if you paid with cash.

[Chimera]

Lol the banks will tell complaining customers that they will deal with it and look into it but the fact is that the banks advise merchants to charge the extra %. They don't actually take anyone machine away because the merchant will simply take their business to another willing bank.

[Advent]

There is also no minimum purchase required to allow usage of linx or cc as payment

what can a customer do in a situation like this ?

[SR]

Look at your pos terminal slip and report it to the merchants bank.

[SR]

Lol the banks will tell complaining customers that they will deal with it and look into it but the fact is that the banks advise merchants to charge the extra %. They don't actually take anyone machine away because the merchant will simply take their business to another willing bank.

No ....the offending merchant can be blacklisted by all banks based on reports from its current bank and yes they do withdraw pos and cc services.

[[X]~Outlaw]

Would you rather they not accept credit cards at all?

Good example of why we will always get second rate service/get taken advantage of locally.

[Chimera]

yes they CAN blacklist them but the fact is, they wont.

[SR]

Ok it seems you work in a bank

[Chimera]

yup i does empty the atm garbage bin every evening

[X_Factor]

did that a couple times reporting a couple places and nothing seemed to come out of it as they still do it....
it seems as an old 1900's way of doing business...

but at the end of the day, if the merchant rather loss a sale -- 3% which is 3$ on every 100.00
than make their 25-30% mark up( more in most cases) on an item if it was purchased...doesnt seem like good business sense so i just visit pricemart,massy, farfan, etc and the other regional/international companies that actually want the business...

[RBphoto]

I going by the pharmacy in movie towne constantly for 5 years, every work day to buy a juice for lunch, always a pleasant smile and a few words with the owner. One day I realize I had no cash on me and took out my linx, woman screw up her face and tell me "You serious? Big man like you don't have money, gone with that eh." She was serious, was not going to run my card and I had to put back the juice.

Never bought a friggin pin from there again.

[pete]

Would you rather they not accept credit cards at all?

Good example of why we will always get second rate service/get taken advantage of locally.

Not at all. There are two ways companies can deal with this service charge by the banks. First is charge the customer the 3% the bank is charging them and they maintain their profit margin.

The other way is mark up their prices across the board by 3% and if someone pays in cash or with linx they make an extra 3%. Problem with doing that is their prices may then become unattractive and people will go somewhere else.

You have to remember that a skybox service is only making money (or supposed to be) on the shipping alone. So if you bring in a 2lb box of a product valued at $500 USD and the Duty and VAT may come up to say 200USD. All they might be getting is $120 for shipping then the 3% the bank is charging on $1500 is a whopping $45. How can they absorb that cost?

To be honest, the only people taking advantage of anyone in this situation is the banks.

[Advent]

I going by the pharmacy in movie towne constantly for 5 years, every work day to buy a juice for lunch, always a pleasant smile and a few words with the owner. One day I realize I had no cash on me and took out my linx, woman screw up her face and tell me "You serious? Big man like you don't have money, gone with that eh." She was serious, was not going to run my card and I had to put back the juice.

Never bought a friggin pin from there again.

buss out with da links na boi hahahahahah

[RBphoto]

I going by the pharmacy in movie towne constantly for 5 years, every work day to buy a juice for lunch, always a pleasant smile and a few words with the owner. One day I realize I had no cash on me and took out my linx, woman screw up her face and tell me "You serious? Big man like you don't have money, gone with that eh." She was serious, was not going to run my card and I had to put back the juice.

Never bought a friggin pin from there again.

buss out with da links na boi hahahahahah

Ah get *mash* like ah dog

[ru$$ell]

Along with poor customer service,ridiculous mark up and other things and they wonder why trini's spend so much $$ on online shopping

[Advent]

I going by the pharmacy in movie towne constantly for 5 years, every work day to buy a juice for lunch, always a pleasant smile and a few words with the owner. One day I realize I had no cash on me and took out my linx, woman screw up her face and tell me "You serious? Big man like you don't have money, gone with that eh." She was serious, was not going to run my card and I had to put back the juice.

Never bought a friggin pin from there again.

buss out with da links na boi hahahahahah

Ah get *mash* like ah dog

and you buying dey for years ?

[RBphoto]

I going by the pharmacy in movie towne constantly for 5 years, every work day to buy a juice for lunch, always a pleasant smile and a few words with the owner. One day I realize I had no cash on me and took out my linx, woman screw up her face and tell me "You serious? Big man like you don't have money, gone with that eh." She was serious, was not going to run my card and I had to put back the juice.

Never bought a friggin pin from there again.

buss out with da links na boi hahahahahah

Ah get *mash* like ah dog

and you buying dey for years ?

Yup....

[Advent]

I going by the pharmacy in movie towne constantly for 5 years, every work day to buy a juice for lunch, always a pleasant smile and a few words with the owner. One day I realize I had no cash on me and took out my linx, woman screw up her face and tell me "You serious? Big man like you don't have money, gone with that eh." She was serious, was not going to run my card and I had to put back the juice.

Never bought a friggin pin from there again.

buss out with da links na boi hahahahahah

Ah get *mash* like ah dog

and you buying dey for years ?

Yup....

well she rell dred boi, shoulda take d number and spoon it

[RBphoto]

No eh...

[Advent]

No eh...

"we doh watch face only waist"
??

[RBphoto]

I will swipe my card elsewhere thank you very much.

[src1983]

Would you rather they not accept credit cards at all?

I stopped accepting credit cards, after men wanted to buy 1 Digicel Phone card which profit margin is 3% but Scotia charges 4% in CC fees

Banks in Trinidad are cartels they do not compete for merchant business, a merchant has to pay $500 (my current fee) for each LINX machine plus charges on every use. In the example above this is how it goes. There is no negotiation in CC fees with banks even though NP gets to pay less.

That is why you get a discount when purchasing with CASH/LINX at furniture stores, but none when buying sale items with CC

[noshownogo]

I notice more and more businesses are advertising specials not applicable to CC transactions in serious, Cash or Linx Only!

[pioneer]

It come like chuna powersellers who still chargin VAT/DUTY on computers and computer parts.

[francis1979]

http://www.infolink.co.tt/faq.html

I was told that I cannot use my LINX card to pay for goods under $10, $20, $30 …………

There is no minimum amount for using your LINX[REGISTERED SIGN] debit card. Please take the name of the merchant / store, the location, the minimum amount and send an email to info@infolink.co.tt. The respective bank will be notified of this practice who will advise their merchant to cease this practice.

[Morpheus]

Very good thread...