The Framers Forum

ABT arrived today and the advert on the inside of the back cover got me investigating. I am a member of the FATG and use the Bank of Scotland Merchant Services PDQ machine.
Having not long received a statement from BoS. I noticed that the transaction rate I am paying was different from that advertised.
A telephone call to a Mr Simon Tye, BoS Customer Services 0800 6525808 quoting my Merchant number and the FATG Group number proved quite interesting.

Firstly, for the past 5 years I have been paying the standard retail transaction costs of 1.7% on credit cards and 20p per Switch/Debit card transaction. Even though I am registered as a Guild member I have NOT been receiving the appropriate discounts.

Secondly, the advert does not tell the full story. There is a sliding scale and three tiers of charges (not one flat rate as the advert shows). The level you receive is dependant on your annual transaction turnover and the average cost per customer.

It did pay to check... After a long discussion, as to why I am not in receiving the discounts and whose fault is it.. I managed to renegotiate to the new rate of 1.285% across the board, new Switch/Debit charges and a lower rental charge.

Yippee!!! This should at least save me the cost of the membership fee for next year. Unless the FATG raise it.

Did you manage to get a retrospective rebate ?

No. After a lot of discussion about retrospective rebate or compensation and due to the annual transaction amount that I take, I would only have been on the top tier.. about 1.51%.. plus the compensation would not have been that much anyway, in the region of .15%.

But am happy that I managed to renegotiate and get the lowest tier plus the other bonuses.

Hi John,

Have you also noticed that you are (should be) getting your machine FOC under a new deal struck by the Guild? I havent been paying rental for my machine for approx. 4 months now, the time limits I would have to check with my book keeper (wife)

Steven

We have just chased up our services, Streamline. We are members of the Federation of Small Businesses, and through them are subject to dicounted rates. Our business is just over a year old and you have to trade for six months before you can claim a discount subject to your levels of turnover on card transactions. We forgot this and didn't recall until we did our end of year accounts. It appears that you do not automatically get a review, you have to request it. We have now been put on a substantially reduced rate but have been told by streamline that we cannot backdate it. If other merchant service suppliers are the same then the request for a review must come from you, and we have been told we can ask for another review in six months time. We are contacting the FSB to see if the can negotiate to have our discount backdated, I'll keep you posted
Cheerio!