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May 3rd at Harding High * May 4th at Humboldt High Info: http://www.e-democracy.org/stpaul/chief.html --------------------------------------------------
At 7:37 AM -0500 5/3/04, Bruce Gaarder wrote:
Ramsey County charges 2.5% for credit card payments. That's probably the rate negotiated with the bank, or maybe a little more or less, taking into account the factors Charlie mentioned.
Very interesting, because as a business who also takes credit cards for payment we required to sign a statement that we would NOT add any percent to the purchase for the use of a Credit Card. I assume that is so that Credit Card holders are not penalized or made to feel bad for using their card or encouraged to use their card like cash.
If you knew all the fees that they charge for processing credit cards you would be amazed. Percentage of the Sale (varies from 3-10% depending on the particular bank (and probably negotiable when your talking Hundreds of thousands of dollars)), So much per Charge (fixed amount), So much per deposit (fixed depending on number of charges per deposit). I think there are a few more as well.
NONE of which is supposed to be passed on to the "CUSTOMER", well I think paying property taxes makes me a "CUSTOMER". The company they are running their cards through either made a special deal, or and I think it's a Visa/MC wide rule that you not charge the Customer for using the cards which they are violating by doing this..... Might be an interesting story
Would like to know what bank it is they use to process the cards through... It's worth the 2.5% just to find out. Never know might find a better company to run my charges through.
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Sincerely,
John Birrenbach
W 7th Neighborhood, St Paul MN
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"Six years on the council has trained me to feign interest for long periods of time"
Chris Coleman Jan 21, 2004
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