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14 Desember 2008

Re: [taxchat] accepting CC

It seems PayPal is the best deal for low number of transactions.  No machine to buy - its all online and no monthly fees! Reasonable transaction charges. High acceptance, does their card and most of the others. How do you beat that?. 
 
Arnie
 
 
 
----- Original Message -----
Sent: 12/14/2008 12:38 AM
Subject: Re: [taxchat] accepting CC

This year I prepared approximately 650 returns (Individuals, Partnerships, Corps, S Corps, 990's, etc.).  I also do accounting for about 75 clients.  In analyzing my books this year, it looks like I've had around 30 folks charge.  I've heard of companies that don't charge for the machine, but their fees were always quite a bit higher, or had high monthly fees.  I've been very satisfied with this company...and since I picked up about 50 new clients, who knows if that was a factor (or probably just my winning personality!  LOL)
 
Terri L. Ryman, EA
SOUTHWEST TAX & ACCOUNTING
503 Morton, Box 1367
Elkhart, KS  67950-1367
 
620.697.2422 Phone
 
620.697.4757 Fax
 
 
 
----- Original Message -----
Sent: Saturday, December 13, 2008 1:36 PM
Subject: RE: [taxchat] accepting CC

Terri,
 
this is good information. Thank you for sharing it. How many clients do you have, and how many use it? 
 
I am trying to keep my expenses to a minimum, but their fees are reasonable. I know that some companies don't charge for the equipment.
 
Donna J. Perrone, EA
East Haven, CT
203-469-4939
203-468-2038 fax
 
 

IRS Circular 230 Disclosure: Unless expressly stated otherwise, any tax advice contained herein, including attachments and enclosures, is not intended or written to be used, and may not be used, for the purpose of (1) avoiding tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax-related matters addressed herein.

 

From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On Behalf Of Terri Ryman
Sent: Saturday, December 13, 2008 10:24 AM
To: taxchat@yahoogroups.com
Subject: Re: [taxchat] accepting CC

Chris, I paid $349 for the machine.  Setup was a snap.  I got it from Cocard (NATP affiliated company).  If you don't use it during the month, a minimum fee of $5.  Not too bad.  I take Visa, MC, and Discover.  American Express had a $35/mo minimum fee, and their % was larger than any of the other cards, so I don't take it.  This is the info I found on the NATP website when Cocard was a vender at the National Convention.  Looks like I can get a referral bonus if you use my name!  That would be great!
 
My machine lets me put in #'s taken over the phone also (for those clients out of town!).  And it takes debit cards (which is why I really wanted it...all the younger folks that I do don't have checkbooks, besides the monthly fee being low when I don't use it much (summer, fall, etc.)  AND it batches itself out every night (if you used it that day).  What can be simpler than that!   Hope this helps!
 
 
http://www.cocardinfo.com/   This is their actual website...but down below is copied from the NATP website (Affiliate Business Deals section of Members Only.

COCARD - Anderson Properties Inc
Booth # 29
Phone  800.333.0826
Fax  866.903.1046

COCARD offers credit card and check processing with low monthly, seasonal or full-year programs. Member-only rates are available on services and terminals. There are no long-term contracts to worry about, and referral bonuses are paid to members.


 
 

Merchant Credit Card Processing

COCARD

COCARD – Finally, a credit card services company that understands and works with you. NATP has entered an agreement with COCARD which provides members with a $5 per month statement fee…whether the service is used for the tax season or the whole year.  You can choose a four month seasonal account with no charges the rest of the year or, for only $5 per month, accept credit cards for those late filers or other bookkeeping services.  NATP members may further benefit by introducing clients to this flexible, competitive service and receive a $50 referral fee.

For those members already accepting credit cards:

Take the COCARD challenge. Fax a recent complete statement from your current provider to 866.903.1046.  It will be analyzed and the savings will be quoted in writing.

For those new to accepting credit cards:

  • Low "members-only" rates of 1.89%, (check-debit cards are 1.59%), plus 25 cents per transaction.  Half the transactions in the U.S. are check-debit cards; therefore, your average rate becomes 1.74%!  Rates quoted are good until raised by Visa and MasterCard.  Discover and American Express can also be set up at your request.
  • Card not present (MOTO-mail order, telephone order) rates are 2.30%, plus 25 cents per transaction.  
  • Only a $5 per month statement fee – no minimums, application, batch or set up fees.
  • COCARD is flexible. No lengthy contract with an early termination penalty is required.
  • Next day funding is available on yearly contracts.
  • No new equipment is necessary…your present terminal will be reprogrammed over the phone.  Should you need a terminal, a new one piece, fully secure terminal/printer is available for $349 payable over 3 payments.  When your terminal arrives, plug it in and it is ready to use. COCARD will provide training at no cost.  Support is available 7 days a week, 24 hours a day.

NEW feature - Check Warranty Verification - $0 monthly minimum, 1% rate, five cents per transaction and a one time set up fee of $50. 

Fax your NATP/COCARD Confidential Information Sheet (found at http://www.natptax.com/cocard.pdf) along with a "voided" check to 866.903.1046.  The information will be used to complete an application and returned to you for signature. 

Call COCARD at 800.333.0826 with any questions and let them know you are an NATP member.

----- Original Message -----
From: Cris Kelly
Sent: Friday, December 12, 2008 12:29 PM
Subject: [taxchat] accepting CC

Does anyone know of a credit card processing system where you are charged a % of the sale BUT YOU DO NOT have to pay a monthly fee in addition to the % charge?

I have a couple of clients that have asked to pay via CC but it is seldom and I don't want to pay PAYPAL a $30 monthly fee to accept credit cards

Thanks for the help

Cris


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Arnie Socol
President
Ways & Means, Inc.
845-562-6070
__._,_.___

IRS Circular 230 Disclosure: Unless expressly stated otherwise in this transmission, any tax advice contained herein, forwarded with or attached to this message was not and is not intended to be used, nor may it be relied upon or used, by any taxpayer for the purpose of (1) the avoidance of any tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax transaction or tax-related matters that may be addressed herein.



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