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Best buy Credit/Debit Card Processing
Prof Eman
Posted: 23 August 2012 18:01:03(UTC)

Joined: 08/04/2010(UTC)
Posts: 478

Thanks: 94 times
Was thanked: 39 time(s) in 29 post(s)
Have been considering changing the one we use. A fixed one connected to a phone line.
The main components of costs are-
Rental monthly £15 to £20/month normally
Debit card payments 18p to 25p/transaction
Cards other than Debit are used less often, but around 1.5 to 2%, or 18p to 25p/transaction on Visa Electron
Additional costs are
PCI -insurance, varies, but often about £30 or more /year.
Hidden cost like updates at night, terminal dialing out which can be expensive if 0844 nos or similar are used by the Company and can be in excess of £5/month.
Any recommendations for Company/Terminal, which besides low costs gives reliable service and will attend to a problem within 24 hours?
Any alternatives to consider?
Jasmine Gilbert
Posted: 28 August 2012 11:28:57(UTC)

Joined: 28/08/2012(UTC)
Posts: 2

Hello Prof Eman

I stumbled upon your post and thought I would try to assist.

I will admit before I begin that I work for a company who arrange merchant accounts for businesses. However, we are independent brokers who work with most of the UK providers and in this post I will do my best to offer impartial advice, gained through my experience and knowledge of this complex industry.

You don't mention the type of terminal you currently use but I assume it is a mobile/GPRS machine? The monthly cost really depends on a few factors: The type of terminal you require, the length of the rental agreement and the supplier you use. It is quite common to arrange the terminal separately to the merchant account, this has the added advantage of allowing you to re-configure your terminal with different merchant account ID’s should you find better processing rates at any time.

We always recommend you read the small print of any terminal agreement very carefully; many of these agreements have clauses that make it costly and difficult to end the contract, even after the minimum term!

The following link will take you to a video that explains more about the different types of terminal available - Card Terminal Options

Another useful tip is, if you only take payments over the telephone it is worth considering a virtual terminal. The monthly rental charge for these is generally a lot lower and in most cases, there is no long-term contract.

The processing charges you mentioned are on the higher side but certainly are not anywhere near some of the rates we see when reviewing accounts. These charges depend on whether you are taking payments over the telephone or in person and on the annual card turnover going through the account, 'card holder present' payments are always cheaper as the transaction is more secure when a PIN number is entered.

PCI DSS is a relatively new charge that all the acquiring banks have recently introduced, once again the following link will provide more information on this complicated topic - What is PCI DSS

All banks charge different amounts in different ways, some charge monthly and some annually. The one thing I cannot stress enough about PCI DSS is that whatever you do, make sure you complete your questionnaire as early as possible; the non-compliance penalty fees are ridiculously high! All providers will have a helpline who should be able to 'hold your hand' throughout the form.

I am going to stop there as I have gone on rather longer than intended!

I'm afraid that without knowing what it is you do, what your turnover is, how you want to take the payments and which type of terminal you use I am unable to recommend anyone in particular but do make sure you shop around.

We have produced a series of short web videos which provide unbiased information and advice on the most common questions we receive about accepting card payments; these can be found on our YouTube channel - acceptcards YouTube Channel and also on our website -

Good luck with it all and if you would like any further advice, please feel free to contact me.
Prof Eman
Posted: 28 August 2012 11:53:08(UTC)

Joined: 08/04/2010(UTC)
Posts: 478

Thanks: 94 times
Was thanked: 39 time(s) in 29 post(s)
Hi Jasmine
Thank you very much for your response.
We are a small family run B&B, a unit of ten rooms, which takes card payments, as and when. The turnover of such payments is therefore not very high, but necessary, as some guests want to pay by card. Because the turnover is not very high, and no of transaction not high, this is a real cost to us.
We normally have some 8 to 20 transactions/month.
We are with Streamline and have a Verifone fixed line terminal a Vx 810 Duet.
We have two fixed lines, one for normal telephones, and another which is a fax line, computer based, which is increasingly getting less and less use.
We would consider getting rid of one of the fixed lines if possible.
Any suggestions based on the above would be welcome.
Thanking you in anticipation.
Jasmine Gilbert
Posted: 28 August 2012 12:47:50(UTC)

Joined: 28/08/2012(UTC)
Posts: 2


No problem, my pleasure.

Are you a member of any trade associations? The only reason i ask is because we partner with a B&B association called Bedposts.

My intial thoughts would be that your business is likely to be seasonal so i would suggest we try and get the set monthly costs (Minimum monthly service charges) down as low as possible, to avoid penalties for lower usage during quiet months.

The best course of action would be for me to ask one of our consultants to give you a call, if you can send me an email with your preferred contact details i will pass on all the information you have supplied so far and they will provide you with some advice and recommendations. (There is no charge for our consultancy service by the way!)

Also, if you can email me a copy of your merchant statement it is always worth us checking over this for any 'hidden' charges as well.

My email is

Kind regards

Prof Eman
Posted: 28 August 2012 13:25:59(UTC)

Joined: 08/04/2010(UTC)
Posts: 478

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Was thanked: 39 time(s) in 29 post(s)
I am a member of the FSB-Federation of Small Business.
Will email you shortly.
Kind regards
Prof Eman
Posted: 01 February 2013 13:42:50(UTC)

Joined: 16/08/2010(UTC)
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Not quite clear what quickquid has to do with operating a terminal, or similar to take payments from customers?
Bradley Lewis
Posted: 12 May 2014 06:28:50(UTC)

Joined: 12/05/2014(UTC)
Posts: 1

I think you should contact with They provide free wireless equipment with their credit card processing services without any kind of hidden charges. Their processing rates are also very affordable for everyone.
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