Support Info: External PED Purchases

[Aziphirael]

Originally Posted by Cloud

Well 3.5% fee is way more than Mastercard or Visa would charge MA.

This is why i put forward my opinion that it is possible MA does take a fee for themself, on top of Credit Card fee.
Like i said, thats more than i pay Mastercard and Visa.

Its about the norm for those cards, especially taking online as its viewed as high risk. I once started a business selling things online and decided to get a credit card merchant account to accept payments by card, 3.5% was around about what was charged for each transaction. There was also a monthly fee of about £15 as well.

The main reason is that as merchants you don't deal with Mastercard or VISA directly but through a third party, whether thats a bank or dedicated clearing house. And they charge their fees on top as well.

For withdrawals, thats a bank transfer and again a business will pay for the electronic transfer. With my business bank account I have to pay £10 to send money internationally to another bank account. So I wouldn't be surprised if Mindark pays something similar.

For me receiving an international transfers there also a charge of about £10 plus associated currency charges for conversion.

[Tussi]

Originally Posted by Aziphirael

For withdrawals, thats a bank transfer and again a business will pay for the electronic transfer. With my business bank account I have to pay £10 to send money internationally to another bank account. So I wouldn't be surprised if Mindark pays something similar.

Strange.
Seems like you get ripped off (compared to my business account).

For me receiving an international transfers there also a charge of about £10 plus associated currency charges for conversion.

I suggest you try another bank.

Tussi

[timmmers]

Originally Posted by Moonbiter

Exactly. Deal with the cause, not the symptoms. Why would anyone want to sell peds outside the game if the card was working...

Why? Well..maybe someone who can't get hold of Ukash would like the free gun...ask someone to buy them a voucher and pay them for it with the deposited peds from the voucher.

I buy a £10 Ukash voucher, get 190 ped approx from the guy I'd like to help...give him the number and he's got his peds back, I have my deposited peds...and he has the extra free gun. Something you might do to help out a disciple or friend that you trusted, no high finance.

Certain ban by the looks of it now though. Pity.

t

[aridash]

Originally Posted by -Herb-

And of course, all credit cards and banks are different. So why is it always the 3.5% charge? If it really was the banks, it would always be different.

because the charge is from MA's bank/merchant account provider, not your bank.

Originally Posted by timmmers

I buy a £10 Ukash voucher, get 190 ped approx

a 5% cost there then. is it always the same? often wondered if ukash would be cheaper than credit card.

[Konvicted]

From reading this it makes me think that it's allowed but should be carefull with it, if any deal done with a hacker or either someone frauding with a CC you could have problem but isn't said anywere you would get a ban for doing this with someone you can trust tbh, Right ?

[MistyDawn]

Originally Posted by timmmers

Certain ban by the looks of it now though. Pity.

I shouldn't worry too much about that.

You buy Ukash for cash, give your friend the the code, he gets peds, gives them to you ingame.

No CCs involved, no cash exchanged with 3rd party for peds, no fraud...

Originally Posted by aridash

..a 5% cost there then. is it always the same? often wondered if ukash would be cheaper than credit card.

No, those figures are just figures...

The charge is 3.5% or 3% can't remember off-hand, but the PED value changes because of exchange rates.

What you forget is that with Ukash you go to the shop and pay cash and then you don't have a £xx'xxx debt at xx% to pay off for the next couple of years, unless of course you clear your balance every month.

------------------------------------

Anyway, it's irrelevant. MA were talking about paying someone out of game for PEDs ingame which might be obtained through credit card fraud.

There are charges levied on all deposits as the banks don't do anything for free.

Maybe MA charge an extra 1% or 2% here and there, but without knowing their books I couldn't say. What I will say though is that CC fraud is bound to happen here at some point or other and where would you prefer all the associated costs to be recovered from, the 'lootpool'?

[Omnedon]

Fees are usually to the merchant and are charged by the credit card processor. What terms you can get usually depends on average size of transaction and amount of turnover.

There will usually be a minimum service charge. Some merchants set a minimum purchase by credit card, others may charge an extra fee if the purchase is under minimum. A local merchant here adds 50 cents for credit card purchases, or $1.50 for purchase under $10.

After that, there may be a straight unlimited percentage, the merchant pays X% no matter the size of the purchase. Another option is sliding scale percentage, merchant pays a lower percentage on larger transactions. Or capped percentage, a maximum service charge.

One credit card processor offered low service charges, but required the merchant to rent the card-swipe terminal.

This is all local to US, so I have no idea how foreign transactions are handled, however, on a deposit of $10 I got 96.5 PEDs, so a "service charge" of 3.5 PEDs or 35 cents.

[Cloud]

Originally Posted by thoreau

Isn't there additional fees when currency is being exchanged? When I charged something in China with my Visa I pay a currency exchange fee. I'm sure this applies to deposits and withdraws in EU as well.

The additional international currency fees are generally paid by the customer.

Originally Posted by aridash

charges differ between businesses, anything from 2-4.5% (that i know of), taking into account nature of business, turnover, transaction volume, and intermediary bank/service provider. no doubt it is different between countries. unless you know otherwise for a fact, its best to leave it be.

Ok , Airdash, before you start making adamant statements it would best to have practical knowledge on the topic.
I already stated charged rate is primarily based on turnover, and it is generally international rates required from Visa and Mastercard, banks charge what they negotiate with the Merchant.
I am a merchant and i do have some first hand knowledge.
For you to suggest a rate of 2-4.5% means one of two things.You are not a merchant and have no real knowledge, or you are a merchant and have no idea what the range is and had no idea you could negotiate.
It would be very surprising if you are an actual merchant and didnt know what the rate ranges were so.....

If MA was paying higher than the 1% range they should sack their finance administrator, but they wouldnt be.

Seems ironic you tell me not to comment without facts,lol.

Cloud

[Cloud]

Originally Posted by Aziphirael

Its about the norm for those cards, especially taking online as its viewed as high risk. I once started a business selling things online and decided to get a credit card merchant account to accept payments by card, 3.5% was around about what was charged for each transaction. There was also a monthly fee of about £15 as well.

The main reason is that as merchants you don't deal with Mastercard or VISA directly but through a third party, whether thats a bank or dedicated clearing house. And they charge their fees on top as well.

For withdrawals, thats a bank transfer and again a business will pay for the electronic transfer. With my business bank account I have to pay £10 to send money internationally to another bank account. So I wouldn't be surprised if Mindark pays something similar.

For me receiving an international transfers there also a charge of about £10 plus associated currency charges for conversion.

Hi Aziphirael,
3.5% isnt the norm but it is possible to pay that, just, but turnover would have to be tiny, and the initial rate very poorly negotiated.
MA has the ability to negotiate a better % rate and would have.It is likely they have Never paid a fee in the 3% range, I havent, even when my business first started and i had nothing going through initially, my first offer was under 3%.
If i had MA's turnover i would be looking at 1% give or take half a point.
A service terminal fee is not relevant to MA.


Regards
Cloud

[aia]

Originally Posted by Cloud

I am a merchant and i do have some first hand knowledge.
For you to suggest a rate of 2-4.5% means one of two things.You are not a merchant and have no real knowledge, or you are a merchant and have no idea what the range is and had no idea you could negotiate.
It would be very surprising if you are an actual merchant and didnt know what the rate ranges were so.....

If MA was paying higher than the 1% range they should sack their finance administrator, but they wouldnt be.

Accordin to this document http://www.intelli-collect.com/accept_creditcards.pdf
the ´Discount rate´ is typically "between 1.49% and 2.50% but can go even higher", and the ´transaction rate´ "generally falls between .19 and .40".

Though note that there is a difference between ´credit cards´ (where you have a "interest free period"; read: interest paid by merchants) and ´debit cards´ ("bankkort" in sweden; card that's connected to a bank account and where the amount immediately gets withdrawn). MA makes no difference (maybe they can't). In Sweden (probably elsewhere to), some credit card compaines offer a "bonus" of 0.5% of all purchases, and that bonus must come from somewhere... (that bonus works that way that if you buy something for 1000, you get 50 in the end of the month so you just pay 950) - regardless where you use the credit card (some stores give higher bonus if you've used the credit card in *their* store, but you still have bonus "everywhere").