Debit minimum purchase?
Why some stores accept minimum purchase of five dollars in Canada?
- Pearl LLv 73 weeks ago
cause they want people to use their money
- Anonymous3 weeks ago
It costs between 25-40 cents per usage for small stores. So they lose money on small transactions.
Bigger places, may have better deals because of more volume. They might pay 2-3% regardless of the amount.
Its supposed to be against the credit cards rules but its difficult to enforce with so many mom & pops doing it.
- StarShineLv 73 weeks ago
They pay a transaction fee on each transaction.
If the purchase is small, the store doesn't make enough profit to make it worthwhile.
Some stores also have a minimum or you have to pay an additional transaction fee (25 or 50 cents).
- martinLv 73 weeks ago
A store will be charged a small amount sometimes for debit or credit card purchases, so that have a minimum to make it worth their while.