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Medical Forum / General / Dentistry / February 2008Business question
Guys-- Who are you using for your credit card processing? About what are you paying overall (say, total fees as percentage of charge volume)? I think we're getting screwed. We use MBNA, and we're paying this month almost 4 1/2% between per item fee and the discount. We always had a relatively low volume of charges but they've gone up substantially of late. TIA, Steve  SignatureMark & Steven Bornfeld DDS http://www.dentaltwins.com Brooklyn, NY 718-258-5001 >Guys-- > [quoted text clipped - 7 lines] >TIA, >Steve Will have to check, <pun intended> on that for you. IIRC our fees are different for different cards. Get back to you soon. > Will have to check, <pun intended> on that for you. > IIRC our fees are different for different cards. > > Get back to you soon. Yes, the per-item charge is somewhat more for MC than for VISA, but I think the discount rate is the same. I'm home and don't have the statement in front of me. We were solicited by the ADA for their "member advantage" processing, but I looked in vain on the website for any actual information on their website. Obviously they want me to call up so they can give me the full treatment: http://tinyurl.com/29a5rm Steve >> Will have to check, <pun intended> on that for you. >> IIRC our fees are different for different cards. [quoted text clipped - 11 lines] > >Steve Think a better bet is contacting your main business banking partner and ask for their best deal. Tell them you are going to shop too ! You should also shop your other bank(s) to for the same service(s) and consider moving your corporate account if better rates are offered. <What !? You aren't corporate !?; Incorporate immediately !!!> My accountant recommends having at least two banks working for you at all times. You can bounce offers/services between them. After all they compete for business too, and you are a preferred type of client. Sorry, don't think that the ADA can get you a better rate than you can get on your own with your local leverage. IYKWIM. The squeaky wheel gets the grease. >>> Will have to check, <pun intended> on that for you. >>> IIRC our fees are different for different cards. [quoted text clipped - 29 lines] > > The squeaky wheel gets the grease. I'm inclined to think you're right. As it happens Chase is my primary bank--I've been with them since my student loan days--which means about 1972. I think I'll make an appointment with the bank manager. Steve >> My accountant recommends having at least two banks working >> for you at all times. You can bounce offers/services between them. [quoted text clipped - 11 lines] > >Steve And open a new account at another big bank ! Better yet threaten to withdraw and close all of your accounts ! <vbseg> Am using Capital One for most accts. these days. They have a VP that handles executive and professional accts. If there are papers to sign he brings them to the office personally. He has even taken *me* to lunch ! Now, that's service. If you don't get satisfaction from the manager, go higher up the ladder, all the way to the Prez if you so desire. Remember it's not only the balances of your accts, it's also the amounts that you pass through the bank monthly that gives you the clout. You can also ask your accountant what banks s/he recommends. CPA's usually know many bank executives personally, first name basis. > And open a new account at another big bank ! > Better yet threaten to withdraw and close all of your accounts ! [quoted text clipped - 14 lines] > You can also ask your accountant what banks s/he recommends. > CPA's usually know many bank executives personally, first name basis. Thanks! Steve About 2% here. Handled through Eaglesoft's software. Signature/ Amatus / > Guys-- > [quoted text clipped - 7 lines] > TIA, > Steve > About 2% here. > > Handled through Eaglesoft's software. What bank does Eaglesoft work with? Steve >> About 2% here. >> [quoted text clipped - 3 lines] > >Steve Stay away from Patterson/EagleSoft. We use a terminal from our CC processor. The transaction is easily entered into EasyDental. We have a tiny 2" X 4" card scanner which you Velcro wherever you want it. Card info is entered directly into the payment screen of Eaglesoft. Pt signs a signature capture pad. Walkout statement is charge-card receipt. No extra printers. Henry still does not like Patterson from a bad experience a few years back. Signature/ Amatus / > >>> About 2% here. [quoted text clipped - 9 lines] > We use a terminal from our CC processor. > The transaction is easily entered into EasyDental. > We have a tiny 2" X 4" card scanner which you Velcro wherever you want it. > Card info is entered directly into the payment screen of Eaglesoft. Pt > signs a signature capture pad. Walkout statement is charge-card receipt. > No extra printers. > > Henry still does not like Patterson from a bad experience a few years back. I wasn't too happy about Healthco, but they're not around to kick any more. Steve SignatureMark & Steven Bornfeld DDS http://www.dentaltwins.com Brooklyn, NY 718-258-5001 Processed through: Global Payments in MD Signature/ Amatus / >> About 2% here. >> [quoted text clipped - 3 lines] > > Steve 1.69% for Visa and 1.7% for MC. Roughly $25/month in membership fees. Signature/ Amatus / >> About 2% here. >> [quoted text clipped - 3 lines] > > Steve > 1.69% for Visa and 1.7% for MC. > > Roughly $25/month in membership fees. That sounds in the same neighborhood as Newbie's. Steve SignatureMark & Steven Bornfeld DDS http://www.dentaltwins.com Brooklyn, NY 718-258-5001 But of course EagleSoft from Patterson Dental will cost you about $15K+ EasyDental from Schein is about $1,500 Patterson is quick to drain your monetary assets. And will not fix any high dollar equipment that malfunctions. Told AC about my thoughts for many years. Still he would not listen. Hate to say "told you so" because that seems to be less than adequate. Have been researching the % for MC/Visa. It's about 1.99% plus $0.20 per transaction. Amex may be a bit higher, Discover has a different structure. Still working on finding the best deals. Find a new CC company, forget the fargin dental software, Make your bank(s) compete for your business. Oh, yeah; almost forgot to say again... EagleSoft from Patterson Dental sucks, er sux, uh is sucky Overpriced and no support worth a shiite. Am running EasyDental on Vista, . .and they told me it wouldn't work. They said it only worked for XP. Bought my Vista machines over a year ago, has anyone tried to buy an XP machine lately ? Duh they don't exist. HaHahaah. works just fine in Vista. Had to teach them a thing or two. We have it networked, and had to tell them how. Did I forget to say that Patterson and EagleSoft sucks ? BTW AC my commute is still about 5-7 min. And think I forgot to say that Patterson Dental, and EagleSoft sucks. IOW have you checked PDCO on the stock exchange lately ? What I meant to say is that Patterson Dental and EagleSoft stinks. @ $15K for suckware, I can buy a bunch of computers and use MS Office networked. Let me be a bit more clear; Patterson sucks hind tit, that is to say, you should expect a reach around for buying into PDCO's bullshit. Many a reach around during long warm showers. You got bf'ed and are still allowing a finacial rape. When you wake up give me a call. >About 2% here. > [quoted text clipped - 11 lines] >> TIA, >> Steve My local branch treats me much better than Henry was treated by his. Signature/ Amatus / > > But of course EagleSoft from Patterson Dental [quoted text clipped - 62 lines] >>> TIA, >>> Steve >My local branch treats me much better than Henry was treated by his. And that's a stone fact ! Yep, am a bit sour on PDCO. > But of course EagleSoft from Patterson Dental > will cost you about $15K+ > > EasyDental from Schein is about $1,500 > > Patterson is quick to drain your monetary assets. I only have to take a quick look at their catalog to know that! Steve > And will not fix any high dollar equipment that malfunctions. Considering that dental supply is apparently a very tough business, I'm surprised they can survive with high prices and poor customer service. Steve > Told AC about my thoughts for many years. > Still he would not listen. [quoted text clipped - 3 lines] > It's about 1.99% plus $0.20 per transaction. > Amex may be a bit higher, Discover has a different structure. That's way better that I do. Can you tell me what bank? Email if you don't want to post here. Steve > Still working on finding the best deals. > [quoted text clipped - 45 lines] >>> TIA, >>> Steve SignatureMark & Steven Bornfeld DDS http://www.dentaltwins.com Brooklyn, NY 718-258-5001 >> Have been researching the % for MC/Visa. >> It's about 1.99% plus $0.20 per transaction. [quoted text clipped - 4 lines] > >Steve Will have to get back to you on that. It's not through Capital One, but they provide the service through another bank. Don't recall at the moment, am at the house right now. > Will have to get back to you on that. > It's not through Capital One, but they provide > the service through another bank. > Don't recall at the moment, am at the house right now. Okie-dokey. Steve SignatureMark & Steven Bornfeld DDS http://www.dentaltwins.com Brooklyn, NY 718-258-5001 |
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