Edward
Lv 4
Edward asked in Business & FinanceCredit · 10 months ago

I'm setting up a business and require a business bank account. If i accept card payments are those classed as automated payments?

NATWEST, a UK bank charge £0.35p per automated transaction. Would accepting a card payment and the money being sent to my account be classed as an automated payment?

3 Answers

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  • Judy
    Lv 7
    10 months ago

    no..........................................

  • Tavy
    Lv 7
    10 months ago

    The banks charge for processing them

  • Anonymous
    10 months ago

    not sure whats classified as an "automated payment" by your bank but ANY money you take in via card will be charged the fee

    for my business I get charged a percentage instead of a flat fee, which might be more cost effective for you if youre going to be taking a lot of transactions for small amounts. If youre doing mostly transactions with large amounts, a flat fee is better

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