arriba
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| posted on 22/3/10 at 01:09 PM |
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HSBC Premier cards,effective June 1,2010
Are HSBC customers aware that HSBC Merchant services have written to all card retailers to advise that on only HSBC Premier cards from June 1,2010 an
additional 0.7% commision will be charged on face to face transactions and 0.9% mail order transactions. The retailer has been told that he can make a
charge to cover this commision but also must make a charge to cover all cards,if he chooses to charge for Premier cards. The retailer has also been
advised that these charges are not negotiable and he has no choice he has to accept the cards.
I am tempted to cut up my Premier Card in protest-be interesting if retailers make a special charge for HSBC Premier Cards.
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graememk
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| posted on 22/3/10 at 01:39 PM |
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well thats about as far away as non car related chat can get i suppose...
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arriba
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| posted on 22/3/10 at 02:44 PM |
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graemenk....not so far away as you would imagine...I am a director at Rally Design and we are discussing how we are going to surcharge every customer
who uses a premium credit card to make a purchase on line,we cannot as yet find out whether this only affects HSBC cards or all premium credit cards.
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tegwin
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| posted on 22/3/10 at 02:53 PM |
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Or do what I imagine a lot of other smaller companies will do... and simply increase the price of all products by a small percentage to compensate for
those who use the premium cards...
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BenB
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| posted on 22/3/10 at 02:56 PM |
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Not sure how they can force buisnesses to accept HSBC premium cards. After all, many buisnesses do not accept Amex for the same reason (ie higher %age
costs).
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arriba
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| posted on 22/3/10 at 03:19 PM |
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This is the communication from HSBC,Q and A
Take effect.
from 1 June 2010
Can I negotiate these charges
No,your new charges are based upon the volume and type of transactions.We believe these charges are competitive and in line with current card rates
What is a Premium card
Cards issued to high net worth individuals,they are not specific on the card type-we are investigating but HSBC have not advised.
Why are fees higher
Premium credit cards attract higher fees paid by the processors.Why?
Can I refuse to accept a premium credit card
No,under the 'honour all cards' rule all mastercard and visa branded cards must be accepted. You have the right to charge a surcharge,
Like most retailers we don't accept American Express or Diners Club which can have 5% commision. But it looks like we have to accept this.
I am publicising because I think you will see lots retailers bringing in additional surcharges for premium credit cards.
Rally Design
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stevebubs
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| posted on 22/3/10 at 05:57 PM |
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Are the other merchant services (Barlcays, RBS) doing the same? If not, what is stopping you "jumping ship"?
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arriba
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| posted on 22/3/10 at 07:10 PM |
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They are all doing the same,the answer is to stop taking premium cards but HSBC refuse to advise which cards are classed as premium cards-they say
that they don't know themselves.
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