Accepting Credit Card Payments?

[Baboosh]

I have two reasons for wanting to be able to accept CC payments. The first is probably the main reason.

1. I'd like to start selling stuff on GB or AA. Stuff from my personal collection, and as a service to customers who don't want to do it themselves. I have no feedback yet so I'm worried people may not be willing to take the risk. If I took CCs they at least have that protection. Before I was a dealer I would gladly pay the 3% CC fee for the assurance that I could challenge the charge on a bad sale. Maybe I was naive, but that's my thinking. I think I'd even be willing to eat the CC fee when selling from my collection until I can build up some positive feedback.

2. Similarly, I have some F2F customers who I think would gladly pay a 3% markup for the convince of a CC transaction. I'd like to at least be able to offer that to them.

I have on occasion accepted PP "friends and family" cash transfers but I suspect I'm playing with fire there. I try to avoid those. There are other online money transfer services that I have also used. Not sure if gun friendly or not. But none of them offer the same convenience and protection a CC does.

It is amazing that we are probably one of the most highly regulated and policed industries in the country and yet we're treated like drug dealers. Actually, I think drug dealers are treated a little better then we are. Maybe its all that cash...

Thanks for the recommendations, I'll check them out.

It is absolutely customary to charge a CC fee when selling on GunBroker. Some don;t but they usually have higher prices.

If you have an FFL and verify it with GunBroker then you get the FFL badge. This goes further than feedback as it shows you are a licensee.

Careful with PayPal, I cannot even tell you how many accounts I have had. All of them locked now. Same with Facebook pay, Square etc. I stopped dealing with all that and just suck it up and pay the fees. On average it is about 3.5%.

Where this really hurts is transfers. Lets use Aces Pawn, they charge $25 for a transfer. Lets say a guy transfer in a SCAR

SCAR Value $3,000
Sales Tax $240
DROS $25
Transfer $25
Total charged on a card $290
3.5% = $10.15

They loose almost half their fee due to credit card fees. It just ruins the ability to offer the lowest price on items and take credit cards without fees.

[acespawnshop]

Where this really hurts is transfers. Lets use Aces Pawn, they charge $25 for a transfer. Lets say a guy transfer in a SCAR

SCAR Value $3,000
Sales Tax $240
DROS $25
Transfer $25
Total charged on a card $290
3.5% = $10.15

They loose almost half their fee due to credit card fees. It just ruins the ability to offer the lowest price on items and take credit cards without fees.

And here we have the reasoning behind why we don't accept credit cards! Not to mention Baboosh told me once about how his CC dispute led to other tax related issues. Just not worth it. That's why we charge what we do to keep costs low for everyone.

NOTE: Way back when when I was still a noob and was taking CC's for IST payments, we transferred a Barrett with a bad A scope on it and nice pelican case, the works. Dudes invoice was almost 5K. After we got our CC payment processing tab we realized we lost money on that particular deal.

[XxWoodsHunterxX]

We use Bank of America pay as you go merchant swiper. No mo fee only pay per transaction interchange+.40%. We add a 3% cc usage to all cc transactions customers are still happy to pay.


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[38Special]

We use Bank of America pay as you go merchant swiper. No mo fee only pay per transaction interchange+.40%. We add a 3% cc usage to all cc transactions customers are still happy to pay.


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[acespawnshop]

Yeah, Im wondering the same. Going to look into this.

[ugimports]

We use Bank of America pay as you go merchant swiper. No mo fee only pay per transaction interchange+.40%. We add a 3% cc usage to all cc transactions customers are still happy to pay.


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I thought BoA was Anti-2A? They have nothing in their ToS about firearms? Also, do they offer an online component or just swipe/chip?

[Baboosh]

We use Bank of America pay as you go merchant swiper. No mo fee only pay per transaction interchange+.40%. We add a 3% cc usage to all cc transactions customers are still happy to pay.


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Bank of America? They denied us even opening a business account due to us being gun dealers.

Do they know you deal in firearms?

Why charge 3% if it only cost you half of a percent?

[acespawnshop]

BofA is anti gun. We bank with them only because they're close and we get change regularly. We don't use their merchant services anymore and we minimally use our checking account with them. The only reason that account is open is because we need change. We've switched all our other accounts to a local community bank in our hometown. They're awesome. They know our names and who we are. In total I think we moved something like 18 accounts from BofA. I know Aces is the only account left open out of the family of shops that we deal with.

[I Swan]

It is absolutely customary to charge a CC fee when selling on GunBroker. Some don;t but they usually have higher prices.

If you have an FFL and verify it with GunBroker then you get the FFL badge. This goes further than feedback as it shows you are a licensee.

Careful with PayPal, I cannot even tell you how many accounts I have had. All of them locked now. Same with Facebook pay, Square etc. I stopped dealing with all that and just suck it up and pay the fees. On average it is about 3.5%.

Where this really hurts is transfers. Lets use Aces Pawn, they charge $25 for a transfer. Lets say a guy transfer in a SCAR

SCAR Value $3,000
Sales Tax $240
DROS $25
Transfer $25
Total charged on a card $290
3.5% = $10.15

They loose almost half their fee due to credit card fees. It just ruins the ability to offer the lowest price on items and take credit cards without fees.

How did PayPal catch you many times? How do you open mew accounts they don't care after some time passes or just new bank and CC info but same name will get you a new PayPal acct?

I hate using PayPal for anything and try to avoid it.

[Baboosh]

How did PayPal catch you many times? How do you open mew accounts they don't care after some time passes or just new bank and CC info but same name will get you a new PayPal acct?



I hate using PayPal for anything and try to avoid it.

Someone will always put details in the memo.

[XxWoodsHunterxX]

they tac on .40% per transaction on top of interchange


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[XxWoodsHunterxX]

Accepting Credit Card Payments?

Bank of America? They denied us even opening a business account due to us being gun dealers.



Do they know you deal in firearms?



Why charge 3% if it only cost you half of a percent?

Yes they know we sell firearms. Wasn't an issue when I specifically stated what we do. We keep it a standard 3% because not all cards are the same some have higher rates

I thought BoA was Anti-2A? They have nothing in their ToS about firearms? Also, do they offer an online component or just swipe/chip?

Their gateway will cost $20/mo. But they do have it. PAI currently will match so if all goes well we will be switching and all mo. Fees are going to be reduced to $5/mo. Same rates.




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[Tyke8319]

And, here's why I don't take credit cards:
I was in the hospital for a little over month about 2 years ago. When I got back into the shop and was going through mail I found a bill from the credit card company I was using billing me "$75.00" inactivity fee.
I dropped them like a hot rock and will not use another company. When they inquired about my leaving them they pointed out that that stipulation was in the fine print of the contract.
My customers have not had an issue with being unable to use their cards. At least nothing has been voiced to me...

[acespawnshop]

After we explain why we don't take cards everyone understands. When you factor in Operation Choke Point, CC terminal fees and chargebacks they get it. I've thought about having one of those companies come in here and put in one of those ATM machines, the kind where they maintain it, stock it, and I don't have to deal with it. But, Stater Bros is in our shopping center and you can go get cash back there with the purchase of anything, get a $.25 pack of wrigleys and you're GTG.

[cleck]

Here’s a breakdown of firearms friendly credit card options with costs compared. Maybe it’ll help. https://rocketffl.com/gun-friendly-c...ocessing-ffls/