Govplanet Credit Card Fees

[MWMULES]

I got a load of 40MM cans today and just noticed a new Fee, (at least to me) a fee for using CC my invoice was total price $621. 73 as I was entering my CC info this showed up.
Invoice total: US $621.73

Download invoice
+ 2.95% iClosing fee: US $18.34
Total payment: US $640.07

​

 

[Suprman]

Yup I got hit for an extra 100 bucks in cc fees on what I won today.

 

[FloridaAKM]

Maybe GP is outdoing GL with 12.95% up charge vs 12% that GL used to charge. Nope, they are making up for the amount the credit company charges to use them.

 

[tktsales]

Well Seems Govplanet now feels they can charge us an additional 2.95% for making a payment with a credit card. This is above and beyond the 10% fee they already receive on the sales price.. This just started a few days ago and ZERO notice was given to their customers prior to placing a bid. I am sorry folks, I am one who complained constantly about GL but GP has now just lost a customer unless they can stop playing games and be honest with their customers.. Good luck to anyone who wishes to continue to get sucked into them. I hope everyone joins me.

 

[juanprado]

Yeah, I can't believe I am saying "I miss GL"....

 

[patracy]

Becoming more and more common to pass the CC processing fees to the consumer. I know when I did retail firearms, I certainly passed it down. As a merchant, the CC processing company would hit me for 1-5% given the type of card and how they used it. Then there's all the other risk involved like chargebacks. Not taking up for GP, but as a business owner, I can understand why.

 

[FloridaAKM]

I was complaining about so few offerings lately here in Florida @ GP, now I am glad they have. With this new, unannounced 2.95% upcharge on the credit cards, I will think twice about bidding on something I really don't need. The only saving grace is that all my major purchases are completed & delivered. After retirement, my purchases will stop due to my inability to eat green iron equipment.

 

[tktsales]

I understand the nature of CC processing fees, I run a small business myself. We do not charge CC fees per se however we do have different pricing levels for certain customers. Those who are on CC do pay a higher price which makes up for the fees. The point the bothers me the most is the lack of notice. Just about any reputable company will give notice when there is a significant change to their terms and conditions. They could have simply put a notice during checkout "starting such and such date a 2.95% charge will apply to CC payments" but nothing Just surprise customers with this charge after the fact that they are committed to buying something that they probably paid too much for to begin with.. Sorry to say I miss GL too. If I am not mistaken we are currently in year 2 of the GP contract. I am glad to see that GL still has their website untouched so I hope they anticipate attempting to get this contract back..

 

[porkysplace]

It's not any different the the many members here that charge Paypal fees for things they sell in the classifieds .

 

[BadRobot]

IronPlanet / GovPlanet Credit Card Fee

I won a couple auctions this weeks from GovPlanet. When I checked out and paid for, there is 2.95% credit card fee added to the total. There was no credit card fee last week. It might start today. This will drive a total cost up if you buy a big item.

[FONT="&amp]Credit Card[/FONT]
[FONT="&amp]Pay up to $10,000 by American Express, Visa, Mastercard or Discover. (A 2.95% fee will apply)[/FONT]

 

[porkysplace]

I won a couple auctions this weeks from GovPlanet. When I checked out and paid for, there is 2.95% credit card fee added to the total. There was no credit card fee last week. It might start today. This will drive a total cost up if you buy a big item.

Credit Card
Pay up to $10,000 by American Express, Visa, Mastercard or Discover. (A 2.95% fee will apply)

Already a thread started on this.

Govplanet Credit Card Fees

It won't be long and everybody is going to charge the fees or do like Kroger and not take credit cards.
https://www.yahoo.com/news/kroger-expands-ban-visa-credit-151829390.html




Moved to existing thread

 

[Wire Fox]

If you figure out who their credit card processor is, contact their processor and notify them of this practice. A lot of those companies have contract lines in place that explicitly forbid directly charging the customer an additional amount for making use of that processing service. Offering a "cash discount" or "direct transfer discount" is just the same thing under a different name. Effectively, the processors want the business to charge the same amount of money, no matter how the customer pays. This means either the business prices it to take a competitive loss from the CC sales, or just so happens to make extra money on non-CC sales.

 

[patracy]

If you figure out who their credit card processor is, contact their processor and notify them of this practice. A lot of those companies have contract lines in place that explicitly forbid directly charging the customer an additional amount for making use of that processing service. Offering a "cash discount" or "direct transfer discount" is just the same thing under a different name. Effectively, the processors want the business to charge the same amount of money, no matter how the customer pays. This means either the business prices it to take a competitive loss from the CC sales, or just so happens to make extra money on non-CC sales.

Yes and no. Merchants can charge fees for processing a credit card. There are a handful of states that don't allow it though. There might be recourses that way in specific states. Otherwise, the 3% fee is under the actual fees imposed by the processor, which makes it comply with the TOS.

I'm guessing the CC buying guys are going to tick off the cash buying guys. GP/IP has been a cash business for years. The CC side of things really came to be with the GP items. Don't want the 3% fee? Pay with cash. I could see GP reverting back to cash only if it becomes too much of a hassle. Or simply bump up the final fees from 10% to 15%.

 

[tktsales]

They have their processing company listed in checkout. I forget the name.. Honestly I thought at one time it was actually illegal to charge a processing fee like this.. Times are changing. I just wish they would have given customers notice. That is the big gripe I have with them.. I have not bid on anything this week and the items I would have bid on when much cheaper than the same items did the week before.. Hopefully they take notice. I hate to not buy but it just irks me when companies pull this type of stuff.

 

[tktsales]

Yeah, I can see them bumping the 10% fee to 12 or 15 and guess what when they do it will be another surprise to everyone.. I will be done for good if they do.. Not sure I will bid much at all now.. Its so **** time consuming and most people don't have all day to sit around and place bids.. I further don't know if I can trust these auto bids to place a large bid in advance.. Time will tell. I don't know about paying GP with cash, I don't know how one would do that short of being an onsite auction but even for wire transfers, My bank charges me $15 or so to receive a wire transfer, I assume most banks do so they probably have some sort of fees to deal with even with that option.

 

[Flyingvan911]

That’s sneaky. (I’d like one or two of those cans.)

 

[patracy]

GP/IP has been a "cash" auctioneer for years. Basically how that works is that you get preapproved or bring a note from your bank stating that you're good for the funds. If it's a large amount, they wire the money.

 

[wheelspinner]

.. I have not bid on anything this week ..... Hopefully they take notice. I hate to not buy but it just irks me when companies pull this type of stuff.

I hate to say it - but even collectively here we aren’t even a blip on their radar....

 

[tktsales]

Yes that is true but for some of us who bid on a very select product offering where there are not many bidders to begin with, when I don't bid, the end result is that the product will sell much much cheaper, If I were to bid, even if I don't win, my bids help raise the final bid so they make more on the sales. I know they have someone to monitor this site, They would almost be foolish to not. If anyone is out there, Just be up front and honest about your fees and don't spring new fees without prior notice, Not only is it little to ask for it is common courtesy and it makes for happier customers who want to return and buy more.. I had some bidding withdraw this past week.. Really hope I can get the courage to bid again or I might have to start drinking..

 

[simp5782]

Even PayPal went up to 4.5% fees from 3 %