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suzannek1
May 10, 2024
Question

Can someone help me with Payments? The fees seem absolutely ridiculous and I called to ask if there was a cap. ??

  • May 10, 2024
  • 1 reply
  • 0 views
$900 to process one invoice is not acceptable.  Is there a cap?  (How do I reach someone via phone that actually knows anything?)
Does the option apply to every invoice or can I pick and choose?

1 reply

BigRedConsulting
BigRedConsulting
May 10, 2024

Are you referring to merchant service/credit card fees? They generally run about 3% of the amount charged, no matter who your merchant service is. Are you seeing something different?

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suzannek1Author
May 10, 2024

I am referring to the Payments fees.  It can be cc or venmo or QBs online.  The QBs fee is 2.99%.  If the invoice is 30k, that is around $900.  That's ridiculous.  I am not signing up for that.  And no client is going to pay that fee. 

My other question is if I used Payments, does it apply to every invoice or can I pick and choose which invoices it applies to?  

BigRedConsulting
BigRedConsulting
May 10, 2024

That's about the standard percentage businesses pay when you use a credit card. It's basically a tax paid to the credit card companies and merchant services for everything we buy, as it gets folded into the price of everything.

 

It's why you can rarely use a credit card to buy large-ticket item with thin margins, like a car.

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