It seems that once again the banks do more screwing than all the SP's in the GTA, that is if the following which I found on an SP's site is true:
Banks Screw Everyone
- Thread starter jim
- Start date
Banks do not charge 30% for accepting credit Cards. Most banks charge 3% for Visa, Mastercard and Debit Cards. Amex charges 5-8% for accepting their card. If what she says is true, she is getting screwed HUGE! She is probably charging 30% because of the extra hassle of processing the charge and waiting for the CC company to reimberse her. If you see her, it sounds like you'll get screwed twice for the price of once.
That is why most Computer Stores advertise that cash purchases are 3% discounted. If you pay with a card, they add on the bank service fee.
That is why most Computer Stores advertise that cash purchases are 3% discounted. If you pay with a card, they add on the bank service fee.
Almost certainly, the escort is using a totally different business to process the transaction. And that business is taking a hefty cut.
Also the escort will still get the odd chargeback so she probably pads for that reason, too.
I can't imagine a bank giving an independent escort a credit card merchant account. They like to see things like financial statements and tax returns.
Also the escort will still get the odd chargeback so she probably pads for that reason, too.
I can't imagine a bank giving an independent escort a credit card merchant account. They like to see things like financial statements and tax returns.
She must be high volume
As most CC companies, back in the day when I accepted them (three years ago) I was charged 1.5% because i was a small business, they said if your business grows it can increase as high as 6%, like the bay or eatons was the example the lady at BMO used for me.
It could be a third party, or she also wants you to pay her taxes as she will have to claim the charged money as its harder to hide then cash.
Its a tad high, highest I seen previous was 5-10%.
Use paypal, its like 1.9% charge to the lady.
As most CC companies, back in the day when I accepted them (three years ago) I was charged 1.5% because i was a small business, they said if your business grows it can increase as high as 6%, like the bay or eatons was the example the lady at BMO used for me.
It could be a third party, or she also wants you to pay her taxes as she will have to claim the charged money as its harder to hide then cash.
Its a tad high, highest I seen previous was 5-10%.
Use paypal, its like 1.9% charge to the lady.
A Financial Pimp...
I believe Paul and Elaine hit the nail on the head. Sure sweetie you can use my account for a 'small' fee.
I believe Paul and Elaine hit the nail on the head. Sure sweetie you can use my account for a 'small' fee.
ouch...
Perhaps we should do a poll? How many hobbyists acutally use credit cards to pay for their "activities"? Cash is very difficult to trace. Credit cards leave a very clear trail.
Even if you use one specific card, remember that on your credit report all your cards are listed. What if the SP makes a mistake and overcharges? What if the SP gets busted and her assets/records seized? LE could easily trace back to you - name; address; SIN number; place of employment; marital status...
What if, on your first time, you decide you want to leave? Is there a charge for processing a credit?
Cash rules.
Perhaps we should do a poll? How many hobbyists acutally use credit cards to pay for their "activities"? Cash is very difficult to trace. Credit cards leave a very clear trail.
Even if you use one specific card, remember that on your credit report all your cards are listed. What if the SP makes a mistake and overcharges? What if the SP gets busted and her assets/records seized? LE could easily trace back to you - name; address; SIN number; place of employment; marital status...
What if, on your first time, you decide you want to leave? Is there a charge for processing a credit?
Cash rules.
Re: ouch...
Agreed, I can tell you from past experience that LE can easily get your cc info.i_am_good said:
Cash rules.
Everyone is so quick to jump on the banks ....lol. You were pretty naive to believe that 30 % story . Elaine has the more likely explanation - that being that it is more risky to avoid paying income taxes when there is a paper trail .jim said:It seems that once again the banks do more screwing than all the SP's in the GTA, that is if the following which I found on an SP's site is true:
Third party fees...
Some SPs who do not have CC company approval will process the card thru another business. The third party business will charge them a fee for this service.
Some SPs who do not have CC company approval will process the card thru another business. The third party business will charge them a fee for this service.
