to be honest with you, NET-30 is not as popular as in the past (before the Bank Credit Line Era took OFF).howierocket said:So how often do you guys selling shirts now to stores run into places that demand Net-30? Also what do places normally pay with? Credit card? Check?
i was not talking about you the seller, i was talking about the buyers. They have credit lines and its convenient for them to use credit cards when they pay their credit card bills within 30 days there should be not interest charge as well.howierocket said:Credit card terms for the small business SUCK.
Yeah, I am one of those lucky ones who didn't get a credit line from the bank, everyone else I talk to got 20k without even being in business for more than a afew weeks. The only reason I am with my bank is the manager is a good friend and pulls a lot of strings for me. The credit though....arg I wish I could get that.
I think the increase in order volume and making it super easy for customers to pay you more than make up for the percentage that merchant accounts charge.I don't know if my last boss got a really raw deal but he was paying 2-5% for taking cards. It was awful. He even got upcharged when he didn't have the card in hand. Credit card terms for the small business SUCK
Some have paid with credit card up front, some prefer to pay by company check and those I usually give net 15.Also what do places normally pay with? Credit card? Check?
duh, i see. Thanks Greg.Comin'OutSwingin said:I think he means if the buyer uses a credit card instead of net30, then as the seller, you are stuck paying fees for accepting credit cards, which is true.
Although fees in the 5% range are quite high!
Be careful with this though. Many merchant accounts have in their terms of service that you can't offer discounts for cash purchases or incentives or "fees" to the customer to cover the credit card charges.we offer 5% OFF when people pre-pay by personal/company check or money order.
in this case, go with one that does not.Rodney said:Be careful with this though. Many merchant accounts have in their terms of service that you can't offer discounts for cash purchases or incentives or "fees" to the customer to cover the credit card charges.
You're rightT-BOT said:in this case, go with one that does not.
it is the norm to give discounts (about 5%) on COD and on the Spot payment, wholesale anyways. And some even charge you the CC fee % above the sale total. Go figure.
Rules for Visa Merchants said:Always treat Visa transactions like any other transaction; that is, you may not impose any surcharge on a Visa transaction. You may, however, offer a discount for cash transactions, provided that the offer is clearly disclosed to customers and the cash price is presented as a discount from the standard price charged for all other forms of payments