View Full Version : Credit Card V ATM thoughts

09-14-2012, 06:01 AM
My conundrum...

Do I get a credit card machine or an ATM

Background... (Short versions :) )

Talked to a guy at MHC about wireless cc machine. Got prices, guy calls later. Price went up by over 40 bucks per machine. No MHC discount in the original price, just simply went up. Roughly 90 bucks per month total.

Talked to Sams Club about cc machine. 54 bucks per month, called back the next day, went to 95 bucks per month.

emailed Moneytree ATM, they were at MHC. 32 bucks per month to rent.

The slide thingy on the iphone simply takes too long and several people must have phones at different pos'

I have all the info of rent vs own and am all too familiar with the rates added on, etc.

QUESTION: Do you use a credit card machine or an atm and whaddaya think about it?

09-14-2012, 06:09 AM
I use the "slide thingy." The benefit of SquareUp is when run on an iPad it acts as a point of sale system and keeps track of all credit card and cash sales and there is no percentage fee charged for tracking cash sales.

Creepy Works
09-15-2012, 08:25 PM
I still haven't decided. Paypal has a $2500 limit in any 7 day rolling period. Exceed that and they hold the extra funds for 30 days. Doesn't matter if you have a merchant account with Paypal or not. Likely be similar with square even though its not posted. I would likely have to have both square and paypal card swipe readers on hand so I don't max out either one of them. You have to consider from Friday 26th to Wednesday the 31st a person could easily exceed these limits. I bought a credit card terminal(Vx510 is popular) off ebay for $150 last year for my fireworks biz. Right now I can get a traditional merchant account at 1.9% with a setup fee of only $50. As long as I have $35 in transactions I have no monthly or statement fees. The traditional route gets messier if you are trying to add in a website in which you have gateway fees and all that crap. The terminal ain't as portable and cool as an iphone, but I don't have an iphone, ipad, or android phone to use right off hand. Monthly payments for a credit card machine is simply ripping you a new one.

09-16-2012, 12:29 AM
I used Squareup last year no hold on my money just the normal 1 to 2 business days
like any merchant account

09-16-2012, 03:15 PM
Using Squaredup this year. Tired of paying the banks all those processing fees. No ceiling on Squaredup that I have seen or heard of, and a lot of the vendors at TW were using them so I am sure they would have hit such low limits. I understand you dont have an iPad or iPhone, but given the amount you are going to pay for a CC machine, or an ATM machine, might be cheaper?? My only benefits I see with the ATM machine is either own it, or lease it, and if I lease it, the owner gets the major cut. It becomes a convenience thing, but you do have an opportunity to make a little extra cash from the ATM.

09-16-2012, 03:38 PM
Buy a used one.. just make sure it has the new handicap standard, else expect to pay to have it updated. Then you get the charge for using the machine. The 2 or 3 bucks ads up in extra income.

09-17-2012, 02:05 PM
We used credit card machines for years. The fees were costing us thousands of dollars at the end of season and there was a delay between when we would see our money. It also ran our ticket booth slower. We recently switched to an ATM. We bought one from moneytree for about $1200-$1500. There's a fee for your customers to use the ATM but you can set that how you see fit. We have ours set very very low for convenience. We have three attractions at $30 with a coupon so we only had to sell 45-50 tickets to make our money back on the machine. We did that within the first 30 minutes of opening night. With the low fee set in place we ended up making money at the end of season instead of owing money. We placed our ATM halfway thru our ticket booth line with signs that express we only accept cash at the window as well as in the park. With this setup our ticket booth runs way faster, the lines are shorter and all sales within the park are easier to keep track of with regular cash pickups. The ATM is also placed for customers to have access to it if they ran out of cash while at the park. ATM has worked for us better than credit card machines.

09-17-2012, 03:33 PM
seems like a no brainer pay 2+% for CC or make $3.00 a swip and have extra cash in there pocket for consessions. i bot a ATM, ask me again in NOV:)