Worldpay

[Grace_Hair]

Just had a world pay rep in.

Does anyone use them? What do you think of their benefits?

Using 4 old statements from my current card terminal I've worked out I could save £60 per year.

Is it worth changing for £60? Is it a hassle to change?

 

[BannerPenguin]

Who are you currently with?

We are with WorldPay and we can recommend people as a friend for a slightly better rate I believe but either way, they have always been good even when comes to tech support. It's beneficial to change if you ever want to take payments online outside of PayPal.

 

[Grace_Hair]

I'm currently with Barclays.

I've had no problems. Just thought I'd shop around.

My biggest problem is, that at the moment. Most of my transaction fees aren't worth £10. So I have to pay extra to just get it to £10.

I was surprised when I asked the rep about self employed stylists. I asked if there was anyway to have 1 machine but a couple of different people lease it. And she said no. That I should take the payment and give it to the self employed stylist. Pretty sure that's against HMRC isn't it?

 

[BannerPenguin]

Bank are known to be quite expensive setup and more expensive 'generally' speaking but obviously you are already with them.

What do you mean regarding the transaction fees being £10? You lost me a little bit there.

You are right. That is against HMRC but having a machine and leasing it/letting other people use it is also illegal and can mean they can close your account down immediately. It will be in the T&Cs of every card processing company as when you sign up you fill in your company details and you're assessed on your risks.

 

[PamieD]

Just had a world pay rep in.

Does anyone use them? What do you think of their benefits?

Using 4 old statements from my current card terminal I've worked out I could save £60 per year.

Is it worth changing for £60? Is it a hassle to change?

I used Worldpay for years and never had a problem...until the last year when the terminal kept running up huge phone bills randomly! I always claimed the money back but it was a real hassle.

And it's not against HMRC rules to use one terminal for several people, so long as you enter it correctly in the bookkeeping.

 

[Grace_Hair]

Bank are known to be quite expensive setup and more expensive 'generally' speaking but obviously you are already with them.

What do you mean regarding the transaction fees being £10? You lost me a little bit there.

You are right. That is against HMRC but having a machine and leasing it/letting other people use it is also illegal and can mean they can close your account down immediately. It will be in the T&Cs of every card processing company as when you sign up you fill in your company details and you're assessed on your risks.

Basically. Say that I only take £100 on month on the card machine.
And it's all debit and costs me 1%.
I would only be paying £1 for this.
However. There's a minimum transaction fee. So i would have to pay an extra £9 because my transaction was under £10. Does that make sense?

 

[BannerPenguin]

Basically. Say that I only take £100 on month on the card machine.
And it's all debit and costs me 1%.
I would only be paying £1 for this.
However. There's a minimum transaction fee. So i would have to pay an extra £9 because my transaction was under £10. Does that make sense?

Got ya. Do you then also have terminal rental cost?
As far as I'm aware we don't have a minimum we just have our gateway rental costs which is £25 per month.

 

[Grace_Hair]

Yes.
Terminal rental too.

So you're payin for the PCI DSS, terminal rental, authorisation payment (so many pence per transaction) and then the percentage on your transactions.

I think my average would be about £25 too. Works out around £60 cheaper a year with World Pay. Do you use their benefit club much?

 

[BannerPenguin]

Yes.
Terminal rental too.

So you're payin for the PCI DSS, terminal rental, authorisation payment (so many pence per transaction) and then the percentage on your transactions.

I think my average would be about £25 too. Works out around £60 cheaper a year with World Pay. Do you use their benefit club much?

What I pay is £25 for the gateways (this would be a terminal for most people) then I pay 20p per transaction approx. I get 300 transactions a month free though but I don't think they offer that anymore.

PCI DSS is free normally. You only pay extra when you are not compliant.

 

[Samuel]

Something that you might want to consider before leaving is possible 'termination fees' with your current payment provider.

 

[Hive Salon Software]

Yes check out the termination fees or get world pay to pay the termination fees

 

[Lola's]

You could always use world pay zinc for your stylists
It would be an account they would create and use at their own use.
With that you can opt for a card terminal and you will also get use off an online account for any customer not present transactions/deposits xx

 

[Grace_Hair]

Something that you might want to consider before leaving is possible 'termination fees' with your current payment provider.

Even if my contract with them has ended?

 

[Samuel]

Even if my contract with them has ended?

You would need to read the fine print of terms of your agreement with them, and call them to confirm. You might be surprised that they might offer you a better deal if they know you're leaving

 

[beautygeek20]

I worked for Worldpay/streamline for 3 years before opening my salon. You will have a minimum monthly service charge (mmsc) that you have to always pay even if you don't do that many transactions. So for example if your mmsc is £10 then you will have to pay that even if the cost of your monthly transactions was only £1. Some mmsc's are about £25 so it's always best to try and get it down lower with the sales advisor.

Make sure you are PCI Compliant otherwise you will be charged £10 per month and an annual fee on top of that. However, everyone has to pay an annual PCI charge even if they're compliant.

contracts are usually 36 months, however if you are a sole trader you can cancel your contract after 18 months. If you try and do it before this you will pay an ETF (early termination fee). Make sure you make a note on your own personal calender or in your phone for when your contract is coming to an end so that you can get better deals. I'm not sure about other companies but Worldpay automatically enrol you into a new 36 month contract if you don't call to cancel, so be careful

 

[surf girl]

My monthly charge is £15 with world pay if I left them tho I'd go with I zettle next time they do a free card reader & tiny fees per transaction, you can haggle with world pay too so if you know for example Halifax is cheaper by 1% they'll beat that price