KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Comment on charging convenience fee for credit card
May 25, 2022
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Comment on charging convenience fee for credit card from May 24, 2022
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Ken
          As another alternative, the dealer can setup a free account at DOXO.com (perhaps there are other solar services), whereby customer may pay the dealer's ok invoices. Doxo will add and collect its modest fee from the subscriber, no fee to the dealer.
          Another alternative, the dealer can setup a free ZELLE account with their bank (Zelle, being owned by a bank consortium, is supported by most banks), whereby the subscriber can pay electronically, and with no fee to either the dealer or the subscriber. 
 Anon in Calif
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Response
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          I didn’t get any response or comment on whether anyone has lost a paying customer who refused to pay the convenience fee.  Getting paid is first priority, even if you have to eat the credit card processing charge, so you don’t want to lose a customer over that charge. 
          Be careful imposing the convenience fee, even if permitted by law and by your credit card processor.  You still need to be sensitive to your customer’s willingness to accept the increase.  Since you have the right to increase 9% maybe that’s another way to get a sufficient increase so that you can continue paying the processing fee.
          I think we can all agree that accepting credit cards [or ACH], in fact insisting on credit card payment, is the best practice.  Automating the recurring charge facilitates payment.  If you don’t accept credit cards you need to start.  If your processor is giving you less than the best service than change processors.  Check The Alarm Exchange under the Financial category and Technology Increasing your RMR category.
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
www.KirschenbaumEsq.com