Negotiate credit card fees

Make sure you get the best credit card deal.

At Ling Phipp we can provide businesses in the Nottingham area with help and advice on finance and on a wide range of business issues. Here are some tips for reducing credit card fees...

Did you know that the rates set by banks and other credit card companies are negotiable?

Different companies have different charges for processing credit card transactions, so it pays to shop around for the best deal.

Credit card processing fees are determined by:

  1. The number of transactions
  2. The sterling amount of these transactions
  3. The type of equipment used (use swipe machines not imprinters)
  4. Your ability to negotiate fees with the bank

Depending on these factors and on the card used, processing fees can range from 1% to 4%. At the top end, the credit card company can be taking a large part of your bottom line away, and when margins are tight these fees can mean the difference between enjoying a profit or slipping into the red.

Trying to trim these costs by setting a minimum level for credit card transactions risks losing sales if the limit is set too high.

A better way is to negotiate a reduction in the processing fee with your credit card company.

If you are in the Nottingham area and are looking for professional advice from an experienced team of accountants, contact Ling Phipp.

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About us

Ling Phipp was founded in 1974 and nowadays has two partners, five managers plus trainees and support staff.

We serve clients in the East Midlands and all over the UK. Our out-of-town location, with easy parking, close to the M1 junction 25 (Nottingham/Derby - A52), is very convenient.

Company details

0115 949 6838

Ling Phipp, Cliffe Hill House, 22-26 Nottingham Road, Stapleford, Nottingham NG9 8AA


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Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk, under reference number 6424855. This is the firm number provided by the Institute of Chartered Accountants in England and Wales.