Four questions for your EFTPOS provider

Here are some questions, that I recommend you ask any EFTPOS/credit card provider for your point of sale software.

1. What is the tiered pricing on cards?

Not all cards have the same pricing, what you need to find out is what is the pricing on the cards not only the standard MasterCard and Visa. AMEX is always a problem for low margin retailers, but it's not the only one as many cards have extra costs.

2. Cancellation and termination fee?

Some providers insist that you sign for a fixed period. If possible try not to get locked into a contract that requires a hefty fee to get out.

3. What are the charges after the first year?

Some providers only guarantee the charges on the first year.

4. Check what other extra fees will be charged?

Many credit providers have something, e.g. compliance fees, statement fees, annual fees, monthly minimum fees, etc. Make sure to always ask what other fees may be charged.