Quote:
Originally Posted by wodin
At >$2600/year I doubt they're losing ANY money on me.
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Wodin, everybody says that kind of stuff, but sooner or later, someone eats it. Typically, it's the first business in the payment chain. As badgoodDeb notes, that's most likely the broker, in your case, who isn't making that $2600/year.
Quote:
Originally Posted by CRussel
And I love Hitch, but for what Insurance companies make? They can f***ing eat it. (No, I would NOT necessarily expect you to. But you don't make what an insurance company does. Or if you do, I'm in the wrong business!)
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Again...I think you and others would be shocked at just how much those processing fees add up to, for your average biz. I pay THOUSANDS of dollars--yes, thousands--in processing fees, between Paypal, Stripe, credit card processors, etc. That's a LOT of money, and I'm an itty-bitty teeny weeny biz. I can't even imagine what it's like, for a huge business that transacts a lot!
Plus, the other thing is, the fee is intended to make you think, "well, I don't want to pay that, I'll pay online." That saves YOU the fee, it saves the BUSINESS the fee. You don't have to wait on the phone for the processing, etc.
For me, because I am in the boonies, the fee is SOMEWHAT worth it, so that I don't have to drive the round-trip to the bank 2x weekly, to deposit checks, make sure that they've cleared and all that, before starting the work. But I'd still like to have that bloody money back.
Hitch