A couple of points that seem to have not been mentioned.
Paypal charge 2.9% and must card processing providers charge a little under 2%
It is beyond my comprehension as to why most people want to effectively waste 2% of their money.
The cost is simply passed on to the customer.
The argument that “it is only 2%” does not wash.
For example, if your business makes a ten percent margin, then that 2% is in effect a cost of twenty percent of your profit.
As for banks asking what money is for , I usually tell them to mind their own business as amounts of just a few thousand are outside of the AML remit.
Last edited by Vicar; 21/11/21 01:39 PM.