[Coworking] Can we talk about bank fees?

2014-12-23 Thread Jensen Yancey
I don't know about everyone else, but since I've opened a coworking office, one of the most mysterious and difficult-to-wrap-my-head-around concepts has been why the hell am I getting charged so much for accepting credit cards and where is it all going. In our scramble to get open in time, we

Re: [Coworking] Can we talk about bank fees?

2014-12-23 Thread Alex Hillman
Oh wow, your fees are way too high. Kill that contract! Standard fees are closer to 2.9% + 25-30 cents per transaction. Even when you factor in all of the tools to work with a decent processor like Stripe or Braintree, the max you're gonna pay is 5%ish. Even PayPal (which sucks for lots of

Re: [Coworking] Can we talk about bank fees?

2014-12-23 Thread Jacob Sayles
Yeah that seems high. On $1500 I'd expect $50-75 in fees. We currently use USAePay+ACCPC+CheckGateway and it's about 2.1%. When you process more and you've been around longer, the rates go down. Your services probably give you more then you are asking for... some funky feature they think