OT. How about this then?

Discussion in 'UK Motorcycles' started by Pip, Oct 27, 2003.

  1. Pip

    Pip Guest

    I just happened to look at the till receipt from Tesco yesterday, and
    this is printed along the bottom of it:

    " Tesco Card Services Ltd. has handled this Transaction for you for a
    fee of 2.5% included in the cost of your shopping. "


    Well, I'll go to the foot of our stairs.

    One wonders:

    How long has this been going on?

    Is this practice widespread?

    Are they all at it, but I haven't noticed?

    Most importantly, should I go to the cashpoint before I patronise this
    establishment next and pay in cash - can I, at the risk of delaying
    the inevitable queue behind me, demand 2.5% off the total price of my
    shopping?


    Yours, Startled of Bedfordshire.
     
    Pip, Oct 27, 2003
    #1
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  2. Are they nice?
    ~ a year I think.
    Yes. The actual blurb in things like co-op says that "net amount
    is the same regardless how you pay, but if it's by non-cash
    method, co-op services ltd. grab 2.5%".
    No, because of the "net amount" bit.

    HTH.
     
    William Grainger, Oct 27, 2003
    #2
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  3. Pip wrote
    Thieving bastards.
    Worth a try. Even if only to prove the point.
     
    steve auvache, Oct 27, 2003
    #3
  4. They're all at it - I think it came about originally as an attempt at VAT
    avoidance; i.e. VAT was only chargeable on 97.5 of the total of the bill for
    card transactions, thus saving the supermarkets a significant packet of
    money. Unfortunately for the money grabbing bastards [1], the official money
    grabbing bastards [2] took the matter to court and won. At the end of the
    day, we don't pay any more or less, whether its cash or cards. Thinking
    about it, if we reverted back to a barter economy that would really upset
    the Official Money grabbing bastards [2,3] attempts to collect their share
    in their attempts to tax us into poverty! :)

    [1] Sainsburys, Tescos, Safeway, M&S et al [4]
    [2] Customs & Excise [4]
    [3] Inland Revenue [4]
    [4] Boo, hiss!
     
    Andy Ashworth, Oct 27, 2003
    #4
  5. Pip

    dwb Guest

    It was a form of tax dodge. Don't know if they closed the loophole or not -
    seeing as they're still at it, probably not.

    You don't pay any extra.
     
    dwb, Oct 27, 2003
    #5
  6. Pip

    YTC#1 Guest

    B&Q
    Halfords
    and loads others
    They are charged the % by the card companies. You may try the discount for cash
    approach
     
    YTC#1, Oct 27, 2003
    #6
  7. Pip

    Chris H Guest

    It's an 'avoidance' scam operated by the big retailers. You don't
    actually pay 2.5%, they just pretend that you do to avoid tax. IIRC the
    inland revenue were taking a long hard look at this one.
     
    Chris H, Oct 27, 2003
    #7
  8. Ages and ages. There was a bit of a public furore earlier this year -
    BBC website will probably have something on it.
    Oh yes. Certainly all of the big supermarkets and M&S. Not sure about
    big department stores but I'd imagine this was the case.
    Yes and yes.
     
    Paul Corfield, Oct 27, 2003
    #8
  9. Pip

    Mash Guest

    If you buy a pint of milk for 50p, it will cost you 50p whether you pay by
    cash or card. But if you pay by card, Tescos the store pays 2.5% of that to
    Tescos card services.
     
    Mash, Oct 27, 2003
    #9
  10. I'm getting a horrible image of C&E attempting to collect their fair share -
    then again, I suppose "f*cking the VATman" is something most people would
    like to do! :)
     
    Andy Ashworth, Oct 27, 2003
    #10
  11. Pip

    Nigel Eaton Guest

    Using the patented Mavis Bacon "Hunt&Peck" Technique, Andy Ashworth

    Actually, I think most would find "fucking the VATman" preferable.

    (This is UKRM, you can say "****". Go on, say it. "****". There! that
    wasn't so bad, was it?)
     
    Nigel Eaton, Oct 27, 2003
    #11
  12. Pip

    Muck Guest

    So the only thing that happens, is that Tesco make 2.5% less proffit on
    card sales?

    --
    Muck
    Bandit 600n(With added ducktape); CG125(MSOHPR)
    "CG125 the most fun you can have at Mach 0.08539"
    DS#1 ; DOMO#1 ; SH#2 ; ICQ: 166144431
    Remove _TEETH_ to e-mail
     
    Muck, Oct 27, 2003
    #12
  13. Pip

    Ginge Guest

    Not really a loss, as a different part of Tesco makes that 2.5%.
     
    Ginge, Oct 27, 2003
    #13
  14. Ginge wrote
    and lends it out to the next bloke in the queue at about ten times that
    rate.
     
    steve auvache, Oct 27, 2003
    #14
  15. Pip

    deadmail Guest

    I wondered about this recently, they're all doing it.

    I'm guessing that it's about tax as you suggest.
     
    deadmail, Oct 28, 2003
    #15
  16. I know I can, but the work firewall has a little piece of tracking software
    designed to filter and/or track such postings - I've therefore got into the
    habit of using f*ck rather than fu.. fu.. fuc.... ****! Dreadful stutter
    I've got there! :)
     
    Andy Ashworth, Oct 28, 2003
    #16
  17. Pip

    Champ Guest

    I take a different perspective to the other opinions added below, tho
    I'm certainly not an expert.

    Most credit card companies charge the retailer a fee for processing
    the transaction. For small business thus could often be a rather
    significant 5% or so. My guess would be that Tesco have taken the CC
    processing in house, so that they are effectively charging themselves
    to do it.
     
    Champ, Oct 28, 2003
    #17
  18. Pip

    athomik Guest

    All credit card companies charge the retailer a %age for their services. In
    this case, Tesco operate their own credit card company, so they get to keep
    the money. That's one of the reasons why places like Netto and Lidl don't
    take credit cards (profit margin too low) and nobody takes AMEX (percentage
    charged too high)
     
    athomik, Oct 28, 2003
    #18
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