Card Processing Companies

[Arks]

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!

 

[Breakfast Diva]

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!.

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!

 

[jmj]

I have been on a cash only diet the last 7 months. If an offer of a discount was given based on paying cash, my husband and I would take it (if at all possible). If you try this, you might be surprised. When we have been given a discount, we have also shared with f/f on facebook. Their response was positive as well..

How much of a cash discount would make a difference?
.

Hmmm...good question. At this point, I am just happy if there is any cash discount. But so far, it seems like 10% is what is offered. And so, if there was a price difference of about 10%, and the two places were about equal, I would go with the 10% discounted place.
But its not just the discount that I like. To me, it seems like when a business offers and gives a cash discount, they are acknowledging that I am making a financial choice to use cash, opposed to the easy, very common use of CC's. They understand that my money is hard earned, because, well, it is already earned, not credit to be paid later. I like that.
On a side note, there was an article in the Denver Post today that said the city is acutally loosing money when people pay with cash instead of cc's! Have to hire more etc...I am thinking. This was pretty shocking...the city is now saying people should prefer to pay with CC's so the city can save money, when in fact, many are tied to cc's in a very unhealthy way.
.

So, the processor charges me 3.5% and to get someone to pay cash I have to discount by 10%? That math doesn't work for me. ;-)
.

You forgot that I have told all my friends about your place and that you have made me a loyal, repeat customer.

 

[jmj]

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!.

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!

.

I am asking for the discount, they are not soliciting it from me. I think there is a small movement to fight back against rampant consumerism and keep their spending habits private. Cash is one way to do this.
And ouch, there must be other, more profitable ways to be a tax cheat.

 

[Madeleine]

I have been on a cash only diet the last 7 months. If an offer of a discount was given based on paying cash, my husband and I would take it (if at all possible). If you try this, you might be surprised. When we have been given a discount, we have also shared with f/f on facebook. Their response was positive as well..

How much of a cash discount would make a difference?
.

Hmmm...good question. At this point, I am just happy if there is any cash discount. But so far, it seems like 10% is what is offered. And so, if there was a price difference of about 10%, and the two places were about equal, I would go with the 10% discounted place.
But its not just the discount that I like. To me, it seems like when a business offers and gives a cash discount, they are acknowledging that I am making a financial choice to use cash, opposed to the easy, very common use of CC's. They understand that my money is hard earned, because, well, it is already earned, not credit to be paid later. I like that.
On a side note, there was an article in the Denver Post today that said the city is acutally loosing money when people pay with cash instead of cc's! Have to hire more etc...I am thinking. This was pretty shocking...the city is now saying people should prefer to pay with CC's so the city can save money, when in fact, many are tied to cc's in a very unhealthy way.
.

So, the processor charges me 3.5% and to get someone to pay cash I have to discount by 10%? That math doesn't work for me. ;-)
.

You forgot that I have told all my friends about your place and that you have made me a loyal, repeat customer.
.

You forgot that I have told all my friends about your place and that you have made me a loyal, repeat customer.

And all your friends want 10% off and I have to raise prices to stay in business. ;-)
In all honesty, we get about zero business from friends telling friends. maybe 1 person a year says their friends stayed here.

 

[Arks]

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!.

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!

.

I am asking for the discount, they are not soliciting it from me. I think there is a small movement to fight back against rampant consumerism and keep their spending habits private. Cash is one way to do this.
And ouch, there must be other, more profitable ways to be a tax cheat.
.

And ouch, there must be other, more profitable ways to be a tax cheat.

I think not reporting cash income is probably the most common form of tax cheating. When you're paying 25% or more of what you make in taxes, that's plenty of incentive for some people to under-report and keep 100%.
I agree that paying cash rather than charging it is a great way to combat buying more than you need, but it's not worth 10% off! If I didn't need 100% of what I charge, I'd lower my rates for everybody, not just the ones who pressure me by asking for a discount.

 

[jmj]

I have been on a cash only diet the last 7 months. If an offer of a discount was given based on paying cash, my husband and I would take it (if at all possible). If you try this, you might be surprised. When we have been given a discount, we have also shared with f/f on facebook. Their response was positive as well..

How much of a cash discount would make a difference?
.

Hmmm...good question. At this point, I am just happy if there is any cash discount. But so far, it seems like 10% is what is offered. And so, if there was a price difference of about 10%, and the two places were about equal, I would go with the 10% discounted place.
But its not just the discount that I like. To me, it seems like when a business offers and gives a cash discount, they are acknowledging that I am making a financial choice to use cash, opposed to the easy, very common use of CC's. They understand that my money is hard earned, because, well, it is already earned, not credit to be paid later. I like that.
On a side note, there was an article in the Denver Post today that said the city is acutally loosing money when people pay with cash instead of cc's! Have to hire more etc...I am thinking. This was pretty shocking...the city is now saying people should prefer to pay with CC's so the city can save money, when in fact, many are tied to cc's in a very unhealthy way.
.

So, the processor charges me 3.5% and to get someone to pay cash I have to discount by 10%? That math doesn't work for me. ;-)
.

You forgot that I have told all my friends about your place and that you have made me a loyal, repeat customer.
.

You forgot that I have told all my friends about your place and that you have made me a loyal, repeat customer.

And all your friends want 10% off and I have to raise prices to stay in business. ;-)
In all honesty, we get about zero business from friends telling friends. maybe 1 person a year says their friends stayed here.
.

Ok, well that's fair, and good to know. I guess people have so many choice now a days, personal recommendations don,t nean as much. Bummer.

 

[jmj]

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!.

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!

.

I am asking for the discount, they are not soliciting it from me. I think there is a small movement to fight back against rampant consumerism and keep their spending habits private. Cash is one way to do this.
And ouch, there must be other, more profitable ways to be a tax cheat.
.

And ouch, there must be other, more profitable ways to be a tax cheat.

I think not reporting cash income is probably the most common form of tax cheating. When you're paying 25% or more of what you make in taxes, that's plenty of incentive for some people to under-report and keep 100%.
I agree that paying cash rather than charging it is a great way to combat buying more than you need, but it's not worth 10% off! If I didn't need 100% of what I charge, I'd lower my rates for everybody, not just the ones who pressure me by asking for a discount.
.

This to is good to know. Do a lot of people ask for discounts? Also, doesn't have to be 10%, could be just what the cc processor is charging. I have seen signs that state that, 3% ( or whatever) if cash is used. Not sure if that is ok with the processor, but have seen that.
Thanks, just stumbled on to this site, and think its great. If all goes well, my husband and I will be an owner in a couple months. Thanks to all who contribute here!

 

[gillumhouse]

I have been on a cash only diet the last 7 months. If an offer of a discount was given based on paying cash, my husband and I would take it (if at all possible). If you try this, you might be surprised. When we have been given a discount, we have also shared with f/f on facebook. Their response was positive as well..

How much of a cash discount would make a difference?
.

Hmmm...good question. At this point, I am just happy if there is any cash discount. But so far, it seems like 10% is what is offered. And so, if there was a price difference of about 10%, and the two places were about equal, I would go with the 10% discounted place.
But its not just the discount that I like. To me, it seems like when a business offers and gives a cash discount, they are acknowledging that I am making a financial choice to use cash, opposed to the easy, very common use of CC's. They understand that my money is hard earned, because, well, it is already earned, not credit to be paid later. I like that.
On a side note, there was an article in the Denver Post today that said the city is acutally loosing money when people pay with cash instead of cc's! Have to hire more etc...I am thinking. This was pretty shocking...the city is now saying people should prefer to pay with CC's so the city can save money, when in fact, many are tied to cc's in a very unhealthy way.
.

Hmmm...good question. At this point, I am just happy if there is any cash discount. But so far, it seems like 10% is what is offered. And so, if there was a price difference of about 10%, and the two places were about equal, I would go with the 10% discounted place.
But its not just the discount that I like. To me, it seems like when a business offers and gives a cash discount, they are acknowledging that I am making a financial choice to use cash, opposed to the easy, very common use of CC's. They understand that my money is hard earned, because, well, it is already earned, not credit to be paid later. I like that.
On a side note, there was an article in the Denver Post today that said the city is acutally loosing money when people pay with cash instead of cc's! Have to hire more etc...I am thinking. This was pretty shocking...the city is now saying people should prefer to pay with CC's so the city can save money, when in fact, many are tied to cc's in a very unhealthy way.

Come back and tell us how you feel about a 10% discount after you become a business owner.
I am actually addressing the comment about the city and cc. Yes, it DOES cost the city more to take cash. My city has started taking online payments. WHY? Because the residents want to be able to pay their water bills, etc with a credit or debit card. Credit card payments require NO Salary or Benefits. Here it is not to do away with an employee, but to please the "customers" and to make better use of her time in the office. We are a small city with a small staff. I am "in the know" on this because I am City Clerk - aka "City Slave" because I want to be. Hours I put in saves the hours(paid) of office staff ro do important things.

 

[JBloggs]

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!.

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!

.

I am asking for the discount, they are not soliciting it from me. I think there is a small movement to fight back against rampant consumerism and keep their spending habits private. Cash is one way to do this.
And ouch, there must be other, more profitable ways to be a tax cheat.
.

I am asking for the discount, they are not soliciting it from me. I think there is a small movement to fight back against rampant consumerism and keep their spending habits private. Cash is one way to do this.
And ouch, there must be other, more profitable ways to be a tax cheat.

But so you know, we will still require a credit card for you to reserve a room and stay with us.
Why? There are a few good reasons. The newspapers are full of them.

 

[JBloggs]

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!.

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!

.

I am asking for the discount, they are not soliciting it from me. I think there is a small movement to fight back against rampant consumerism and keep their spending habits private. Cash is one way to do this.
And ouch, there must be other, more profitable ways to be a tax cheat.
.

I am asking for the discount, they are not soliciting it from me. I think there is a small movement to fight back against rampant consumerism and keep their spending habits private. Cash is one way to do this.
And ouch, there must be other, more profitable ways to be a tax cheat.

Everyone wants a discount. YOU are soliciting it from us. We offer a discount to book your room online already.

 

[white pine]

I have been on a cash only diet the last 7 months. If an offer of a discount was given based on paying cash, my husband and I would take it (if at all possible). If you try this, you might be surprised. When we have been given a discount, we have also shared with f/f on facebook. Their response was positive as well..

How much of a cash discount would make a difference?
.

Hmmm...good question. At this point, I am just happy if there is any cash discount. But so far, it seems like 10% is what is offered. And so, if there was a price difference of about 10%, and the two places were about equal, I would go with the 10% discounted place.
But its not just the discount that I like. To me, it seems like when a business offers and gives a cash discount, they are acknowledging that I am making a financial choice to use cash, opposed to the easy, very common use of CC's. They understand that my money is hard earned, because, well, it is already earned, not credit to be paid later. I like that.
On a side note, there was an article in the Denver Post today that said the city is acutally loosing money when people pay with cash instead of cc's! Have to hire more etc...I am thinking. This was pretty shocking...the city is now saying people should prefer to pay with CC's so the city can save money, when in fact, many are tied to cc's in a very unhealthy way.
.

So, the processor charges me 3.5% and to get someone to pay cash I have to discount by 10%? That math doesn't work for me. ;-)
.

You forgot that I have told all my friends about your place and that you have made me a loyal, repeat customer.
.

I figure that people who are looking for discounts are NOT loyal customers...they will go to the next cheaper place who will give them a "better" deal. Reality is we have bills to pay, we give the best rates to everyone that we can afford. We work long and hard for our money.

 

[Generic]

10% discount to get payments in cash? Why? I can only come up with one reason. I think someone is not reporting all that cash on their tax reports!.

Cash discounts (usually not that large) can be used to compensate for the usage of a credit card.
Just to give an example, assuming that CC charges are actually 3% (some are lower, some are higher). The tax is 15% and the room is $100.
Example 1: Paid by credit card
$100+$15 tax = $115 charge
$3.45 CC charge
$15.00 tax payable
$96.55 net to B&B per $100, so real discount rate is 3.45%.
Example 2: Paid by cash, 4% discount (before tax)
$96+$14.44tax = $110.44 charge
$14.44 tax payable
$96 net to B&B per 100%, so real discount is 4%
(And I have fees related to deposit cash or cheque in my account)
Example 3: Paid by debit card, 3% discount
$97+$14.55=$111.55
$0.06 debt card charge
$14.55 tax payable
$96.94 net to B&B per $100.
So when someone uses our national debit card system, even if I give them 3%, I still make more money and we BOTH win. Only real loser... government, who makes $0.45 less. And until I close the bill, I can discount before tax.