Small benefit exemption Card fees

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vidapura

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Hi,
I am looking to avail of the €1500 small benefit exemption for my two employees.
I used clevercards in the past but the fees that presented themselves to me when I was trying to order the €3000 of cards gave me pause.
They want €73.80 on top of the 3k.. so its like 2% +VAT.

For two digital cards that feels like a lot.

Are there any other providers that people could recommend?

I think I saw a post here that mentioned AllGo cards only want €6 a card?
Are they definitely allowed under that scheme?

I wouldn't go All4One because even their digital cards don't appear to be mastercards and can't be used the same way as the clevercards or the AllGo ones...
(please correct me if Im wrong on that, but on their website I see : "The One4all Gift Card acts as a prepaid Visa debit card when spending online with participating One4all online retail partners. In payment options at the checkout, select ‘Visa’ or ‘Visa Debit Card’.")

Thanks in advance.
 
Hiya,
Thanks for that, rang them there.. its pretty amazing to get it for €1 a card.. but sales are to call me back and get the deal done.
Thanks again
 
Last edited:
Op

this is completely different but check out the clever card cashback option of 0.5%

you're probably paying your tax bills at the moment from your business bank account to the revenue etc but you can switch it over to clever card and they actually will give you 0.5% back

if you have an accountant, I would definitely recommend sending this onto him/her because we started doing it with our small medium businesses and it's very handy when you're making large payments for taxes

www.clevercards.com

The Tax Card | CleverCards

Employee Benefits Cards & Employee Gift Cards for tax free employee incentives and bonuses. Contact CleverCards today!
www.clevercards.com www.clevercards.com
 
Still waiting for a callback from Perx.. their website it being updated and I had to fill out an enquiry form this morning..
Hours ago now...
 
@ClubMan

Revenue allow you to pay income tax by credit card. Perhaps other types of tax too.

There is a merchant fee of X% which Revenue pays, not you the taxpayer.

Some clever card provider has managed to get a share of this merchant fee and is rebating it to people who use its products to pay tax to Revenue.


I could be wrong but to me this indicates Revenue is paying far too much in merchant fees.
 
Leo said:
Revenue likely have sufficient volume to be on the lower cost tiers.
Click to expand...
That’s what I assumed. Also due to very low fraud risk.

So it’s strange to see that there’s a 0.5% margin available to a card provider for a rebate to customers.

Maybe there’s some other angle or bundled service.
 
@Leo at least with a bike shed you have a structure to shield bicycles from weather.

Whereas if Revenue are paying over the odds on merchant fees…..
 
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There are different merchant fees applicable to cards. They may all look the same and all have visa or MasterCard logos, but the first few digits differentiate them

For your standard credit card issued by a bank, a retailer can easily negotiate a rate of under 0.5%. Large volume and it will be 0.30%. Less for debit cards.

However corporate cards and emoney cards are treated differently with premiums of 0.5% upwards applied with some having a 3% premium added.

Revenue won't accept a corporate card (or emoney cards) - or at least that's what my accountant has said.

If there is ANY retailer paying over 0.75% for standard credit card merchant fees or 0.5% for debit they need to renegotiate assuming they have card volume of 200k or more
 
You could buy Dunnes Stores or Tesco cards through corporate account and no fees. Multiple of €500 are offered by both companies.
 
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