Credit card payments to pay accounts is now the most common method of payment our clients use to pay for the plumbing services we provide at Whywait Plumbing. Yes we accept the following credit cards:
- American Express
And NO we don’t charge you any form of surcharge.
Unlike many companies Whywait Plumbing do not charge you a surcharge on credit card payments
From our perspective the fees the bank charges us to accept a credit card are negligible, with the benefits of same day payment far outweighing the bank fees.
This policy is unlikely to change as we continually see other companies charging excessively their own clients to make payment via a credit card. It is increasingly the norm with businesses that charge a surcharge for using a credit card to charge double what the bank charges them. This is disguised as administrative fees that would be incurred whether you pay by credit card, cash or cheque. Far too many companies are making additional profit from their own clients using a credit card.
At Whywait Plumbing we bank with Bendigo Bank and the fees they charge us for processing Visa and MasterCard is 0.72%. Unlike other banks Bendigo Bank deposit credit card payments into our bank account same day. With American Express it is slightly different as we have to pay 1.8% and it can take up to 48 hours for the money to be deposited into our bank account.
Put simply the installation of a toilet suite for a service partner costs $758.02 and if they pay by Visa or MasterCard the cost to us is $5.46. Even if they pay by American Express the cost is still $13.64. Either way you look at it those fees are much less than the administrative cost of sending out an invoice, then waiting for payment to arrive.
At Whywait Plumbing we guarantee we will never charge clients for the convenience of using a credit card to pay. We urge you to challenge the validity of businesses that frequently charge you 3-5% for using a credit card when it is highly unlikely they are paying anything like that to their bank.