Re: Future store updates planned (backend)
Posted: Mon Aug 12, 2019 11:35 am
Spoke to Sage a little this morning. Getting somewhat confused currently.
Payments like EPS, iDeal etc have their own fees (higher) but I also need a Euro bank account, which is £24 a year with LLOYDS. But I can't see if Euro payments "bank to bank" have fees or not. These normally vary from £10-£20 a transaction, which is why I don't accept IBAN because of the fees.
EDIT:
Right so this looks like its going to be a nogo with EPS,iDeal etc. While it seems EU payments and free, I need a Euro bank account, which is £24 a year, but also there is a additional charge because of some "middle-man-bank" where I would be charged £20 a month for. So it would basically be a standing charge of about £320 a year just to accept EU payments
This doesn't effect credit or debit charges.. Its hard to compare Stripe vs Sage, as Stripe charge 20p a transaction plus a % fee... Sage charge a % fee and a standing charge which is fixed each month.
Problem with that system is, quiet months where I may only take a couple of orders, I would still have to pay £20 standing charge. But taking the year as a whole, it shouldn't, in theory, work out any different than the Stripe charges.. This is assuming the number of transactions each year I get doesn't suddenly drop. As for example, if I only had a couple of low value orders a month, it wouldn't pay for the standing charge. If that happened all year, it would actually cost me to keep my store open.
Problem overall, is I am on the middle ground between Stripe and Sage's charges. Low number of transactions, Stripe would be better on a "per transaction basis" but higher transactions, Sage would be better. Either way, I can't use Stripe anymore anyway, so don't have much choice really.
EDIT2:
I think what annoys me is Sage state "no hidden fees" but actually there is (which is no surprise) As if you want to take EPS, iDeal etc, there is a £20 a month fee to have a PPRO bank account to use such payments. Plus a PPRO transaction fee. So to me this qualifies for "hidden fees" in my book
It would actually be cheaper just to have a Euro bank account to accept SEPA payments direct from the customer. But problem is the "manual" processing of orders which I just don't have time to do Because my time is limited, I have pretty much zero involvement in running my store. Though years ago I did try to do such things, but it just took up so much time it was unreal
Payments like EPS, iDeal etc have their own fees (higher) but I also need a Euro bank account, which is £24 a year with LLOYDS. But I can't see if Euro payments "bank to bank" have fees or not. These normally vary from £10-£20 a transaction, which is why I don't accept IBAN because of the fees.
EDIT:
Right so this looks like its going to be a nogo with EPS,iDeal etc. While it seems EU payments and free, I need a Euro bank account, which is £24 a year, but also there is a additional charge because of some "middle-man-bank" where I would be charged £20 a month for. So it would basically be a standing charge of about £320 a year just to accept EU payments
This doesn't effect credit or debit charges.. Its hard to compare Stripe vs Sage, as Stripe charge 20p a transaction plus a % fee... Sage charge a % fee and a standing charge which is fixed each month.
Problem with that system is, quiet months where I may only take a couple of orders, I would still have to pay £20 standing charge. But taking the year as a whole, it shouldn't, in theory, work out any different than the Stripe charges.. This is assuming the number of transactions each year I get doesn't suddenly drop. As for example, if I only had a couple of low value orders a month, it wouldn't pay for the standing charge. If that happened all year, it would actually cost me to keep my store open.
Problem overall, is I am on the middle ground between Stripe and Sage's charges. Low number of transactions, Stripe would be better on a "per transaction basis" but higher transactions, Sage would be better. Either way, I can't use Stripe anymore anyway, so don't have much choice really.
EDIT2:
I think what annoys me is Sage state "no hidden fees" but actually there is (which is no surprise) As if you want to take EPS, iDeal etc, there is a £20 a month fee to have a PPRO bank account to use such payments. Plus a PPRO transaction fee. So to me this qualifies for "hidden fees" in my book
It would actually be cheaper just to have a Euro bank account to accept SEPA payments direct from the customer. But problem is the "manual" processing of orders which I just don't have time to do Because my time is limited, I have pretty much zero involvement in running my store. Though years ago I did try to do such things, but it just took up so much time it was unreal