New "swipe" charges starting January 27th

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FatHobbit

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Jan 25, 2013 1:08 PM
that sucks
Jan 25, 2013 1:08pm
W

WebFire

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Jan 25, 2013 1:18 PM
Good. Maybe people will start using cash again.
Jan 25, 2013 1:18pm
FatHobbit's avatar

FatHobbit

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Jan 25, 2013 1:21 PM
WebFire;1374607 wrote:Good. Maybe people will start using cash again.
Is that better?
Jan 25, 2013 1:21pm
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BR1986FB

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Jan 25, 2013 1:26 PM
Not to sound dumb but I see the article says "credit" cards. Does that also include Mastercard/Visa bank "debit" cards? I'd assume so but I want to keep an eye on this. I pretty much never carry cash and it will suck if I have to withdraw from the ATM all of the time. Will really suck if gas pumps start charging swipe fees.
Jan 25, 2013 1:26pm
sleeper's avatar

sleeper

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Jan 25, 2013 1:28 PM
Any retailer that does this will no longer get my business.
Jan 25, 2013 1:28pm
Laley23's avatar

Laley23

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Jan 25, 2013 1:29 PM
BR1986FB;1374613 wrote:Not to sound dumb but I see the article says "credit" cards. Does that also include Mastercard/Visa bank "debit" cards? I'd assume so but I want to keep an eye on this. I pretty much never carry cash and it will suck if I have to withdraw from the ATM all of the time. Will really suck if gas pumps start charging swipe fees.
Nope. Article says paying in cash or debit is a way around it.
Jan 25, 2013 1:29pm
Heretic's avatar

Heretic

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Jan 25, 2013 1:29 PM
BR1986FB;1374613 wrote:Not to sound dumb but I see the article says "credit" cards. Does that also include Mastercard/Visa bank "debit" cards? I'd assume so but I want to keep an eye on this. I pretty much never carry cash and it will suck if I have to withdraw from the ATM all of the time. Will really suck if gas pumps start charging swipe fees.
That's what I want to know, too. I don't carry cash all the time, so I need to know if I'm going to need to, as giving up 2-3% fees regularly will not be in my plans.

EDIT: And question answered. Thanks, Laley. And those bastards can all fuck themselves. Not getting any of my cash.
Jan 25, 2013 1:29pm
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BR1986FB

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Jan 25, 2013 1:31 PM
Laley23;1374617 wrote:Nope. Article says paying in cash or debit is a way around it.
Gracias. Didn't see that.
Jan 25, 2013 1:31pm
Laley23's avatar

Laley23

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Jan 25, 2013 1:32 PM
My plan will be to load up a large cart of small items from around the store. Go to pay, and ask if they have the Swipe Fee. Then say sorry I no longer wish to purchase from here and leave the cart full and walk out the door.
Jan 25, 2013 1:32pm
sleeper's avatar

sleeper

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Jan 25, 2013 1:34 PM
BR1986FB;1374613 wrote:Not to sound dumb but I see the article says "credit" cards. Does that also include Mastercard/Visa bank "debit" cards? I'd assume so but I want to keep an eye on this. I pretty much never carry cash and it will suck if I have to withdraw from the ATM all of the time. Will really suck if gas pumps start charging swipe fees.
I could see this being a retailer that would do this. I think people would gladly pay the small fee rather than lugging around $50 in cash to pay for things. In addition, if people actually have to go into the retail store to pay for gas, if they choose to avoid the fee, they might end up buying things at the gas station retail store.
Jan 25, 2013 1:34pm
sleeper's avatar

sleeper

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Jan 25, 2013 1:35 PM
Laley23;1374626 wrote:My plan will be to load up a large cart of small items from around the store. Go to pay, and ask if they have the Swipe Fee. Then say sorry I no longer wish to purchase from here and leave the cart full and walk out the door.
Yup. This is exactly what I plan to do as well.
Jan 25, 2013 1:35pm
sleeper's avatar

sleeper

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Jan 25, 2013 1:36 PM
And let's be honest here, if any retailer does this, it'll just further people going on Amazon to buy things because I doubt Amazon would get involved in this. Gas and groceries are about the only things people buy in person on a consistent enough basis so those retailers may end up doing this.
Jan 25, 2013 1:36pm
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Fly4Fun

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Jan 25, 2013 1:38 PM
Eh, if I owned a gas station and the one across the street from me was charging the "swipe" fee. I know I sure as hell wouldn't. I have to imagine there are people that would gladly turn left instead of right to save $1 on a $50 fill up.
Jan 25, 2013 1:38pm
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WebFire

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Jan 25, 2013 1:38 PM
It sucks for you, but why should the business be forced to pay 2-3% of every transaction because of your choice of payment method?
Jan 25, 2013 1:38pm
majorspark's avatar

majorspark

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Jan 25, 2013 1:39 PM
Everyone is paying for it now. Its just hidden in the cost of the product.
Jan 25, 2013 1:39pm
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WebFire

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Jan 25, 2013 1:39 PM
FatHobbit;1374609 wrote:Is that better?
Cash better than credit card? I will let you think about that one.
Jan 25, 2013 1:39pm
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WebFire

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Jan 25, 2013 1:39 PM
majorspark;1374638 wrote:Everyone is paying for it now. Its just hidden in the cost of the product.
Problem with that is, the cost of the product will not decrease if the fee is implemented.
Jan 25, 2013 1:39pm
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majorspark

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Jan 25, 2013 1:40 PM
WebFire;1374640 wrote:Problem with that is, the cost of the product will not decrease if the fee is implemented.
But may increase at a smaller rate.
Jan 25, 2013 1:40pm
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WebFire

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Jan 25, 2013 1:41 PM
For the record, I don't like this either. It's the cost of doing business and making the decision to accept CC. But I LOL at people no longer shopping somewhere because of it. Either pay cash/debit or accept that it costs the business more when you use CC.
Jan 25, 2013 1:41pm
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WebFire

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Jan 25, 2013 1:41 PM
majorspark;1374641 wrote:But may increase at a smaller rate.
Doubtful.
Jan 25, 2013 1:41pm
sleeper's avatar

sleeper

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Jan 25, 2013 1:42 PM
Fly4Fun;1374635 wrote:Eh, if I owned a gas station and the one across the street from me was charging the "swipe" fee. I know I sure as hell wouldn't. I have to imagine there are people that would gladly turn left instead of right to save $1 on a $50 fill up.
Or if they both charge the swipe fee then who do you go to? It's the same reason why gas stations across from each other have equal gas prices. Perhaps one would end up lowering their gas prices but charging the fee; thus getting more people into their store(ie. people with cash who want to save money). The person not charging the fee would get less customers and potentially lose more money if it didn't drop its prices as well.

It could get interesting.
Jan 25, 2013 1:42pm
majorspark's avatar

majorspark

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Jan 25, 2013 1:44 PM
WebFire;1374644 wrote:Doubtful.
My wife and I own a coffee shop. Its a cost of doing business. Its a factor in the price she charges for drinks. We are not going to do this because some people will flip out. So the added cost will be spread to all customers built into the price of drinks.
Jan 25, 2013 1:44pm
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gut

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Jan 25, 2013 1:48 PM
Hidden inflation. Savvy retailers have already baked these costs into their prices. Or, alternatively, they already have their prices pretty well set to optimal.

But now with this law they'll get an extra 2-3% that's not going to be represented in the posted price.
Jan 25, 2013 1:48pm
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WebFire

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Jan 25, 2013 1:49 PM
majorspark;1374647 wrote:My wife and I own a coffee shop. Its a cost of doing business. Its a factor in the price she charges for drinks. We are not going to do this because some people will flip out. So the added cost will be spread to all customers built into the price of drinks.
I understand that. What I'm saying is doubtful is that a business discontinues building it into the cost of goods because they charge the fee. They'll just add the fee and it will be business as usual. At least large retailers. Small mom and pops may be different.
Jan 25, 2013 1:49pm