There’s no cancellation fee if you cancel at least 60 days before the end of the contract. If you don’t give the required notice, it will auto-renew so an early cancellation does apply for the renewed contract. An early exit fee is equivalent to buying out the remaining contract.
If your business has to temporarily close due to a Covid-19 lockdown, Takepayments can pause your account for the duration of the closure.
If you decide to go for the Epos Now integration, this has a separate contractual commitment of up to three years. We strongly encourage you to check the small print in this contract, as Epos Now is a separate company with their own terms.
There’s a monthly fee for card machine rental, the cost of which depends on the card machine model. A stationary card machine costs between £10-£15 + VAT per month in rental, whereas portable or mobile card machines have a higher monthly cost.
PCI-DSS compliance requires a compulsory monthly fee of £15 from the acquirer (Barclaycard) or ongoing non-compliance fee if you don’t complete all the required paperwork within a certain time frame. If you want help managing PCI-DSS compliance, Takepayments can do this for you for an annual fee of £35.
Chargebacks have a fixed fee of £9 each with Barclaycard, while refunds cost 30p to process.
Transactions are settled in your bank account according to your agreed schedule with the acquirer. With Barclaycard, you get next-day settlement for free, whereas a merchant account with Elavon charges 30p per settlement.
Online payments have separate charges, requiring an annual fee upfront or monthly subscription charge for months in arrears. The first 350 transactions per month are included in the price, whereafter you pay 10p per transaction online.