San Diego, Ca (PRWEB) December 01, 2012
SDAccountingFirm.com understands all to well that the charges that business owners encounter are not always known by the consumer. They say business owners saving for retirement may want to double check their credit card processing machine bill—the high fees could be causing a savings drain that can feel like an unstoppable force.
Consumers are often unaware of the fees the average business gets hit with each time they use a credit card: often times up to four percent of the cost of an item can go straight to the credit company or bank that the business uses. While businesses can negotiate fees with other corporations, credit card companies often set inflexible rates for the banks that small business owners have no choice but to pull out of pocket when sales are low.
This charge brought on by most credit services has spurred complaints from many budding businesses—the fees don’t reflect the transaction, and both customer and owner pay for it. While unfair swipe fees are tough to contend, SD Accounting Firm has a few tips for business owners to keep the holiday rush from eating into a savings account.
Small charges like a pack of gum or a soda can be cheap for the buyer, but by using their credit card can make a drastically-large dent in the owner’s pocketbook. For charges under two to five dollars, require a service fee for credit card transactions. Most consumers will rarely gripe over an extra 50 cents, and that extra change will spare the business.
If customer fees seem to extreme, encouraging smaller-company credit or bank cards is another excellent cost prevention. It will not only give the underdog a chance, but most smaller banks and credit groups offer comparatively low service charges. Ask the company for a free promotional stand or sticker to add to the counter, and they will be happy to have you support them.
These among other ideas have begun to surface among resourceful business owners as means to stave off the unjust expenses of the credit conglomerates. If swipe charges can’t be reduced, merchants can at least keep the fees from encroaching on their wallets.
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