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Do You Have A Chip And Pin Machine?


Lucy P
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I am considering getting a chip and pin machine as so many parents ask if we have the facility to pay by card, but I have no idea of how to go about it or the costs involved.

 

I have googled it and as always has provided lots of information about the different machines but cannot find any info on the prices, which leads me to think it is expensive!

 

If anyone could give me any approx prices or companies they use i would be really grateful :1b

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no idea about the prices but know it is costly.. been to a few B&B where they cannot afford to get them so ask for cheque or cash.. and even a few shops locally do not have them and are cash only because of this..

 

suppose you could pass the cost on to those who choose to pay that way..then you may find less using it because of the extra.. many services do charge extra for paying this way.

 

would be cheaper for them to set up an internet transfer from their bank and pay direct into yours... if regular amounts it could be by standing order or anyway to set up direct debit via your bank.

Edited by Inge
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Guest sn0wdr0p

I have one with HSBC and hidden extras mean no matter how few transactions we take it is a minimum of £50 a month. I have recently had a rep from Cardsave and they seem a fair bit cheaper.

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If you have a smart phone you could use barclays pingit app.

 

It's free and you don't have to bank with barclays to use it. People just send money to your phone number from their phone, It's like texting people money, but doesn't cost you money to receive (although they might charge business customers, i don't know).

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I have a chip and pin through HSBC - it's not cheap - £250 for one year terminal rental plus around £10-15 per month charges and for the second year it will be £25 per month terminal rental plus £25 charges - as someone said this is a minimum amount for the charges. However, I feel it's worth it as I know whether payments been successfully made there and then. Cash incurs handling charges and I don't have time to bank it either. Cheques bounce. I do offer direct payments on some occasions but often people say theyve made the payment but it hasn't reached my account then I have to wait a couple of days then chase etc. I've found it has reduced staff time spent taking cash & giving change & my time chasing fees so overall I'm sticking with it.

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  • 2 weeks later...

Thanks for all of your replies. We do currently accept internet bank transfers i was just hoping to stop taking cheques at some point as they are costing me to much time and money to process!

 

We have had a really good quote from Streamline, as we are members of the FSB they have waived all of the registration and set up fees which works out to be £15.00 + VAT per month which is quite reasonable.

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