RMS is confident it can beat your current provider for price (if you have one) and promises some of the lowest rates you’ll find in the industry. You won’t find any of these excellent rates listed on their website or anywhere else, sadly, so you’ll have to get a quote for an accurate picture.
We understand the firm levies variable rates for the card payments themselves – at different rates for swipe and keyed-in payments. That’s all we know at this stage about the regular service fees, but we’ll try to get our hands on something more concrete.
What we can tell you is the firm charges roughly £100 per year for its PCI compliance fee, somewhere in the region of £120 for early termination fees and another £100 for terminal refurbishment should you cancel. If you cancel the terminal lease without giving proper notice then you could be looking at a hefty bill of £1,000 or more from RMS.
Those figures are only slightly worse than the industry standard in truth. What this means is, if RMS really does offer cheap rates, the fees for individuals card payments will need to be considerably lower than its competitors. We’ve heard this is precisely the case, but we’ll have to stick with an average score because we can’t confirm how good the overall prices are.