Market stall enforces minimum EFTPOS spend of $30?

Forums › Finance and wealth management › Market stall enforces minimum EFTPOS spend of $30?

Nate001

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#272351 21-Jun-2020 11:02

Down at our local farmers market yesterday, only reopened last weekend so we decided to go along.

Visited one of our usual meat stores and decided I'd pay with card given the push to be cashless lately. Our purchase was $25 but the owner refused to accept EFTPOS saying there was a minimum spend of $30 to use it. I thought she meant Credit Card so I clarified and said it was EFTPOS to which she said same rules. Note this stall probably has a turnover of few thousand every weekend.

My partner reckons the stall is trying to pocket the cash off the books, but I'd like to think not and the lady was simply confused/uneducated of fees.

So my Sunday morning thoughts got be thinking:

Do people still see minimum spends on EFTPOS today?
How prevalent are cash off the books these days? - I know many tradies still do these, but not so much for stores.

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#2509132 21-Jun-2020 11:35

Still a few local dairy’s that have a 2.00 min on eftpost, restaurants and catering companies are still common businesses with under the table cash payments.

Linux

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#2509133 21-Jun-2020 11:37

$30 minimum spend on EFTPOS transaction is stupid I could understand on credit card

I would of paid with $25 cash and asked for a receipt just to be difficult back

antonknee

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#2509137 21-Jun-2020 11:53

This is stupid and I'd put money on it going under the table. It's possible they're just confused about fees and have assumed their MSF applies to EFTPOS/swiped debit as well, but I'd like to think a business person would understand an essential part of doing business, especially given this is very clearly explained.

EFTPOS transactions are basically free for the retailer, just have to pay for the terminal (which they're already paying for and is often only around $40/month) and their bank account fees (if any, not related to EFTPOS).

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sbiddle

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#2509140 21-Jun-2020 12:08

It's still pretty common to see dairies with minimum spend requirements for EFTPOS.

Kyanar

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#2509145 21-Jun-2020 12:20

antonknee:

EFTPOS transactions are basically free for the retailer, just have to pay for the terminal (which they're already paying for and is often only around $40/month) and their bank account fees (if any, not related to EFTPOS).

If it's a market stall, they may incur transaction fees for the 3G connection.

snnet

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#2509146 21-Jun-2020 12:23

local bakery here has a notice up about new fees, swipe a card at all and they chuck 10c on the transaction, they say on the note its instead of putting all their prices up. doesn't bother me to have a fee as their prices are cheap anyway and they're just spreading the cost out to everyone who pays with a card. To outright refuse for that high of an amount is surprising though.

antonknee

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#2509149 21-Jun-2020 12:33

Kyanar:

antonknee:

EFTPOS transactions are basically free for the retailer, just have to pay for the terminal (which they're already paying for and is often only around $40/month) and their bank account fees (if any, not related to EFTPOS).

If it's a market stall, they may incur transaction fees for the 3G connection.

Most market stalls I've been to use something like Westpac's QuickPay or BNZ's PayClip, which are a bluetooth terminal that pairs to your smartphone (the smartphone you're already paying for) and uses its connection. Westpac's one for example costs $30/month, has no transaction fee for EFTPOS/swiped debit/inserted debit. ANZ's slightly cheaper than that even.

I appreciate full size mobile terminals rented from one of the providers would be more like $40-80 a month potentially plus your cost of the 3G connection. But if you have one, then it's a given you're already paying the fixed cost for that.....

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BlinkyBill

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#2509151 21-Jun-2020 12:40

It’s their business, they can do what they want.

BlinkyBill

Kyanar

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#2509194 21-Jun-2020 15:04

BlinkyBill:

It’s their business, they can do what they want.

Within certain limitations. There are quite a lot of laws that businesses must follow that individuals do not have to.

BlinkyBill

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#2509195 21-Jun-2020 15:12

Kyanar:

BlinkyBill:

It’s their business, they can do what they want.

Within certain limitations. There are quite a lot of laws that businesses must follow that individuals do not have to.

oh, I didn’t realise that. What are they?

BlinkyBill

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#2509198 21-Jun-2020 15:41

Long as they offer other methods to pay, they are fine to limit min spend on EFTPOS to whatever they want.

If EFTPOS was the ONLY payment method, then yes, they'd be in the wrong.

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Kyanar

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#2509203 21-Jun-2020 15:54

BlinkyBill:

oh, I didn’t realise that. What are they?

You've somehow never heard of the Consumer Guarantees Act? Sale of Goods Act? Goods and Services Tax?

scuwp

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#2509204 21-Jun-2020 15:55

xpd:
Long as they offer other methods to pay, they are fine to limit min spend on EFTPOS to whatever they want.

If EFTPOS was the ONLY payment method, then yes, they'd be in the wrong.

Interested to know why. They are breaking no laws as far as I know. They can enforce spending minimums, as long as they are up front about it. The customer is free to go elsewhere.

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richms

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#2509214 21-Jun-2020 16:35

xpd:

Long as they offer other methods to pay, they are fine to limit min spend on EFTPOS to whatever they want.

If EFTPOS was the ONLY payment method, then yes, they'd be in the wrong.

Minimum spends are quite common once you get outside the small shop environments, they are free to enforce that and decline cash if they choose to. All the karens out there going on about cash being legal tender forget the other half of the rule about preexisting debts which there is none as no sale has completed.

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nzkc

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#2509257 21-Jun-2020 16:56

BlinkyBill:

It’s their business, they can do what they want.

Indeed. And its my money and in this situation I'd just walk away out of principle.

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