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Transaction fees

Question asked by Roger

I run a retail business. What can I expect to pay in terms of card transaction fees?

response from John Englund

Credit card fees are based on a percentage of your overall transaction value, while debit card fees are fixed per transaction. You can expect credit card transaction fees of 1.5-3% and debit card fees of 10-20p. per transaction, roughly speaking. Card transaction fees will vary from one merchant service provider to another, and may also vary according to the business you operate (retail, hotel, restaurant, etc.).

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