As with most of the major merchant account providers you won’t find easy access to any of Cardnet’s fees without getting a quote yourself. We have seen the following fees quotes several although we can’t confirm their accuracy so please only use these as a guide and let us know if you are quoted something different:
- Joining fee: £175
- Minimum monthly charge: £25
- Authorisation fee: 3p per transaction
- Chargeback fee: £15
- Termination: £200
If those fees are accurate then we’re certainly not talking about one of the cheaper providers around. And, while we can’t take those numbers too seriously, it would be a surprise to see a bank like Lloyds offering budget rates on their merchant account services – that’s not the way it works with the banks.
Things are different if you hold a Lloyds Bank Business account, in which case you get a few perks thrown into the mix:
- Fixed rate 1.25% on MasterCard, Visa Credit and Debit cards
- Minimum monthly charge of £15
- Terminal rentals starting at £15
- Terminal rental reduction after 18 months if contract renewed
- No joining fee
- Free online management tool
Those numbers, which came directly from Lloyds, make the previous figures quite believable. And, if that’s the case, those are some pretty good rewards for having a business bank account with Lloyds – something you may want to consider.
One Response
Shocking how poorly coordinated their service is, creating real administrative burden
The various sub-teams have little understanding of where their role fits within the process, and as such are not able to interact with each other. Being asked to repeat various tasks over and over is not an efficient use of anyone’s time. The PCI DSS compliance team are particularly poorly coordinated.
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