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I have run into a few vendors recently, who also put an extra $0.25 on debit transactions at the counter. The register comes up with one price, and they tack on $0.25 prior to punching the value into the debit machine. I objected to this, and the proprietor told me sorry, but that is the policy of the store... Is this legal? it seemed strange to me, and I won't shop at these stores anymore.<BR>
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<BR><BR>Joseph Wennechuk<BR>________________<BR><BR><BR><BR> <BR>
> From: jon@plexnet.com<BR>> To: kwlug-disc@kwlug.org<BR>> Date: Fri, 5 Nov 2010 15:22:18 -0400<BR>> Subject: Re: [kwlug-disc] Cash becoming illegal?<BR>> <BR>> On Fri, 2010-11-05 at 15:05 -0400, John Van Ostrand wrote:<BR>> > ----- Original Message -----<BR>> > > But before we get some garments in a bunch. How many purchases would<BR>> > > you pass on if you didn't have the convenience of the credit card?<BR>> > > <BR>> > > I don't like carrying cash so there would be several purchases I<BR>> > > wouldn't make if I had to use cash.<BR>> > > <BR>> > > Actually, that is one of the premises in the "'til debt do us part" TV<BR>> > > program. The host forces couples to make all the purchases in cash so<BR>> > > they see what they are spending on and the spending becomes more real.<BR>> > > <BR>> > > That's a good thing except when you are already stingy like me. Many<BR>> > > vendors wouldn't get my business if I didn't have a CC.<BR>> > <BR>> > I admit liking the convenience of electronic payments and there was a time the credit part was significant. I don't have a problem carrying lots of money. Not to brag, but I found myself carrying $1,300 in my wallet for weeks. It was a cash payment for some used equipment sold personally. Aside from the extra lump it made, I wasn't concerned at all. Eventually it went to scuba gear and I liked that it was "off the books."<BR>> > <BR>> > Unlike Paul, I'm fine with debit. The vendor pays a 40c per transaction fee regardless of the size of transaction. Although the fairness of the amount is in question, the flat rate is suitable for something like that.<BR>> > <BR>> > Does anyone know if if Visa/MC has a flat rate on top of the percentage? What is the rate?<BR>> > <BR>> <BR>> <BR>> Visa and MasterCard have transaction fees along with a discount rate.<BR>> Visa has a variable discount rate in their Debit Card Product.<BR>> Depending on Merchant Category Code and Bank sponsor, there may also be<BR>> monthly statement fees. This is usually negotiable. American Express<BR>> only charges a discount rate - although this rate tends to be higher<BR>> that Visa and M/C.<BR>> <BR>> <BR>> _______________________________________________<BR>> kwlug-disc_kwlug.org mailing list<BR>> kwlug-disc_kwlug.org@kwlug.org<BR>> http://astoria.ccjclearline.com/mailman/listinfo/kwlug-disc_kwlug.org<BR> </body>
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