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WebFire
Posts: 14,779
Jan 25, 2013 1:49pm
This.gut;1374655 wrote: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.
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gut
Posts: 15,058
Jan 25, 2013 1:50pm
Exactly. I think the shadier retailers like this because by the time they realize they've got this extra hidden fee it will generally be too late. It's a mini-bonanza for retailers that don't get much repeat business.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.
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WebFire
Posts: 14,779
Jan 25, 2013 1:52pm
My local gas station offers a "rebate" of 8 cents per gallon for cash payers.
FatHobbit
Posts: 8,651
Jan 25, 2013 1:53pm
The nice thing for gas stations about paying at the pump with your card is it makes it much harder for people to fill up and take off. They know you're going to pay for the gas because they already have your card number and the transaction has been authorized.BR1986FB;1374613 wrote:Will really suck if gas pumps start charging swipe fees.
As others have said, I'm sure they include when they set their prices.WebFire;1374636 wrote: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?
I hate to carry cash. Credit cards are much easier.WebFire;1374639 wrote:Cash better than credit card? I will let you think about that one.
Fly4Fun
Posts: 7,730
Jan 25, 2013 1:53pm
Actually the best point you make is that of getting people into the store. If they get more people physically in the store, they get more sales from the crappy impulse buys of sweets, salty snacks and tobacco products.sleeper;1374645 wrote: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.
But someone else pointed out that the costs for processing credit card purchases is already passed onto the consumer anyways.
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WebFire
Posts: 14,779
Jan 25, 2013 1:55pm
That's what debit cards are for.FatHobbit;1374665 wrote:
I hate to carry cash. Credit cards are much easier.
Laley23
Posts: 29,506
Jan 25, 2013 1:58pm
It will be tough for gas stations to implement this since most require you to pay before filling up. If you want a full tank you need to pay with a card, and not cash...unless you are freaking rainman and can do unthinkable math so you kno whow much it will cost to the cent. Unless they allow you to pay after, thus using cash, there will be major backlash from it.
I suppose they could make you use a debit card...
I suppose they could make you use a debit card...
Laley23
Posts: 29,506
Jan 25, 2013 1:59pm
I dont get cash back or any kind of points system for my debit or cash.WebFire;1374670 wrote:That's what debit cards are for.
sleeper
Posts: 27,879
Jan 25, 2013 2:02pm
You don't have to be exact. If you have 10 gallon tank, need to fill it half way up(5 gallons) at $3.12 a gallon, give the clerk a $20. After you fill up the gas tank, go back in and get your change.Laley23;1374672 wrote:It will be tough for gas stations to implement this since most require you to pay before filling up. If you want a full tank you need to pay with a card, and not cash...unless you are freaking rainman and can do unthinkable math so you kno whow much it will cost to the cent. Unless they allow you to pay after, thus using cash, there will be major backlash from it.
I suppose they could make you use a debit card...
sleeper
Posts: 27,879
Jan 25, 2013 2:02pm
They have to post that they are charging a fee and show it on the receipt. Also, if you return your item, they have to refund the fee. They still may get some dumb customers though.gut;1374662 wrote:Exactly. I think the shadier retailers like this because by the time they realize they've got this extra hidden fee it will generally be too late. It's a mini-bonanza for retailers that don't get much repeat business.
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WebFire
Posts: 14,779
Jan 25, 2013 2:04pm
And retailers should care about that why?Laley23;1374673 wrote:I dont get cash back or any kind of points system for my debit or cash.
sleeper
Posts: 27,879
Jan 25, 2013 2:05pm
Because you can shop somewhere else that does?WebFire;1374681 wrote:And retailers should care about that why?
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gut
Posts: 15,058
Jan 25, 2013 2:07pm
But by the time they've rung you up, or you've finished your meal, you're SOL. If you don't have the cash, you'll grudgingly pay the fee (as opposed to waiting in line again, and even if there's an ATM probably $3 to get cash, anyway).sleeper;1374678 wrote:They have to post that they are charging a fee and show it on the receipt. Also, if you return your item, they have to refund the fee. They still may get some dumb customers though.
Sort of like the first time you learn about "occupancy tax". Ohhhh, this hotel is only $99 a night - then you get your bill and it's north of $120 with all the taxes.
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WebFire
Posts: 14,779
Jan 25, 2013 2:08pm
That's kind of a separate thing. That is caring because of competition, not so Laley can collect reward points.sleeper;1374683 wrote:Because you can shop somewhere else that does?
Laley23
Posts: 29,506
Jan 25, 2013 2:15pm
Thats true, though a pain in the ass.sleeper;1374677 wrote:You don't have to be exact. If you have 10 gallon tank, need to fill it half way up(5 gallons) at $3.12 a gallon, give the clerk a $20. After you fill up the gas tank, go back in and get your change.
sleeper
Posts: 27,879
Jan 25, 2013 2:19pm
Most restaurants allow you to review your bill before they've rung you up.gut;1374688 wrote:But by the time they've rung you up, or you've finished your meal, you're SOL. If you don't have the cash, you'll grudgingly pay the fee (as opposed to waiting in line again, and even if there's an ATM probably $3 to get cash, anyway).
Sort of like the first time you learn about "occupancy tax". Ohhhh, this hotel is only $99 a night - then you get your bill and it's north of $120 with all the taxes.
FatHobbit
Posts: 8,651
Jan 25, 2013 2:19pm
Don't they have to pay a transaction fee for debit cards too? I mean I guess I could switch to a debit card but I'm not sure how that benefits the retailer because then he has to eat that fee instead of the credit card fee.WebFire;1374670 wrote:That's what debit cards are for.
My biggest issue with a debit card is if there is fraud isn't you money already gone from your account? I'm pretty sure the liability on credit card fraud is much lower than debit card fraud as well. (I think $50 for cc and $500 for debit, but I could be wrong.)
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WebFire
Posts: 14,779
Jan 25, 2013 2:20pm
What would you be able to do though? You've already eaten.sleeper;1374702 wrote:Most restaurants allow you to review your bill before they've rung you up.
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gut
Posts: 15,058
Jan 25, 2013 2:21pm
Just don't top off the tank. You should know how much gas it will take within a gallon or two....ok, 8 gallons = $25. Tell them you want $25 gas and get any change due then and there.
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WebFire
Posts: 14,779
Jan 25, 2013 2:21pm
Debit cards with MC or Visa have the same protections. However, you are correct that you money is gone and it could take awhile to get back.FatHobbit;1374704 wrote:Don't they have to pay a transaction fee for debit cards too? I mean I guess I could switch to a debit card but I'm not sure how that benefits the retailer because then he has to eat that fee instead of the credit card fee.
My biggest issue with a debit card is if there is fraud isn't you money already gone from your account? I'm pretty sure the liability on credit card fraud is much lower than debit card fraud as well. (I think $50 for cc and $500 for debit, but I could be wrong.)
GoChiefs
Posts: 16,754
Jan 25, 2013 2:27pm
This is what I do.sleeper;1374677 wrote:You don't have to be exact. If you have 10 gallon tank, need to fill it half way up(5 gallons) at $3.12 a gallon, give the clerk a $20. After you fill up the gas tank, go back in and get your change.
sleeper
Posts: 27,879
Jan 25, 2013 2:36pm
Excuse yourself leaving some form of collateral. Go to the ATM, withdraw money and pay for it with cash. Stiff the waiter and tell the manager you will never return.WebFire;1374706 wrote:What would you be able to do though? You've already eaten.
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I Wear Pants
Posts: 16,223
Jan 25, 2013 2:41pm
This.sleeper;1374615 wrote:Any retailer that does this will no longer get my business.
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gut
Posts: 15,058
Jan 25, 2013 2:43pm
But you've already eaten. If you don't have the cash you have no choice but to pay the fee. And unless the restaurant has your branch ATM that's not really an alternative option.sleeper;1374702 wrote:Most restaurants allow you to review your bill before they've rung you up.
Laley23
Posts: 29,506
Jan 25, 2013 2:45pm
Eh, if they havent told you about a fee or have it posted somewhere you can usually argue with them and have them drop it.gut;1374728 wrote:But you've already eaten. If you don't have the cash you have no choice but to pay the fee. And unless the restaurant has your branch ATM that's not really an alternative option.