Quote:
Originally Posted by CRussel
My heart bleeds for the poor starving insurance companies and there overpaid executives. Sorry, Hitch. First, unlike you, they can (and do) demand a break from the full cost of those fees. And second? Their profits clearly aren't being impacted materially.
I do not doubt that they are a significant part of your business costs. And for small business people, I both sympathize and am willing to accept that I might have to pay for the privilege. (BTW, Canada has Interac Direct, which is a hugely better way to get money between individuals and/or businesses. It's instantaneous, has no fee on the recipient, and a small one on the sender.)
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Charlie:
My
point is, they
don't pay those costs--
you do. One way or another,
you, the customer, pay it. In much the same way that those thousands of dollars that vaporize from my shop have to be made up somehow, so, too, would the (likely) hundreds of thousands or even millions, I'd guess, end up getting made up
in your rates, at the insurer.
That was my point. Sure, you can "insist" that they eat the rates, and not charge you...but they will simply shift the burden to another pain point. Rates or this or that.
Hitch