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Nairaland Forum / Nairaland / General / Business / POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? (30762 Views)
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Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by babane2016(m): 11:56am On Jun 14, 2018 |
Sochimaobim:Please which bank supplied yours |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by Ologogoro: 11:58am On Jun 14, 2018 |
kennosklint: It doesn't accept Visa Card 1 Like |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 11:58am On Jun 14, 2018 |
lilfreezy:Who makes POS sales of over 2million? By the way POS has a max cap of 2k on commission, Ie whether u recieve payment of 1million or 2 million or even 10milllion, the bank gets a flat commission of 2k 3 Likes 1 Share |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by lilfreezy: 12:00pm On Jun 14, 2018 |
TroubleMaker47:Oh, OK thanks But I think it doesn't make any difference. If the bank gets its cut from a daily max transaction of 2million, or its still gets the same percentage on the same amount cut across everyday of the month. 2 Likes |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by mofresh(m): 12:03pm On Jun 14, 2018 |
Yeah!!!your head dey there...have u heard of interswitch....to get their POS is 85k nd is good n u are free from bank wahala or good to go...so join d circle n be okaY...Banks POS are rubbish just go for inter switch POS that one is instant debit and crediting.with just 85k.[/quote] |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 12:04pm On Jun 14, 2018 |
petsam11:My bank charges me 0.5% per transaction not 0.75%. Also it has a max commission cap of 2k, no matter the size of amount recieved per transaction, the max the bank can take is 2k. Also, my bank doesn't require any weekly submmision of reciepts, infact the only time the bank calls u is if y dnt make any transaction on the POS for more than a month. Also i prefer not to print my merchant copy, this system saves me POS paper. I just record. My bank is FCMB and i have been using it for 3yrs running. 8 Likes 3 Shares |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by idris4eva(m): 12:05pm On Jun 14, 2018 |
I'm a registered paga agent and I got my pos for 85k with 10wraps of paper roll (gtb) but it was link to the paga account And they are charging 1% on every transaction like if a customer withdraw 5k they deduct 50 and I charge #200 that's still cool at least you still have a #150 gain 5 Likes |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by kennosklint(m): 12:06pm On Jun 14, 2018 |
Ologogoro:true though |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 12:08pm On Jun 14, 2018 |
OP when requesting for a POS, don't use restaurant, hotel or supermarket as type of business(even if it is) Use regular shop or wholesale warehouse as type of business, Hotels and Co have a .75% charge, regular shops have a .5% charge while wholesale warehouse has a .2% charge. The petrol filling stations have a 0% charge. 12 Likes 3 Shares |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 12:11pm On Jun 14, 2018 |
idris4eva:1% Wow that is broad day fraud!!!. BTW does GTB charge u for issuing POS? I taught it's supposed to be free even the initial 5rolls of paper. 1 Like |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 12:12pm On Jun 14, 2018 |
mofresh:85k. So what's their commission like? 2 Likes |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 12:15pm On Jun 14, 2018 |
lilfreezy:U dnt get. It's per transaction. Not daily. This is to prevent the banks from collecting overly outrageous sums per transaction. 1 Like |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by idris4eva(m): 12:17pm On Jun 14, 2018 |
TroubleMaker47:my account officer I guess got mine from gtb there are some who run the business and has access and fcmb pos the % is outrageous but still it will be the customer who will pay for the value deducted cos on a norms on 5k I shouldn't charge more than #100 but instead I charge #200 |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by G8Arthur(m): 12:20pm On Jun 14, 2018 |
petsam11: I am surprised to see this post because just this week I started using POS from my bank. Wen the marketer was selling the dea, I totally she meant 0.75%which is like 0.0075. Wen I saw payment of 3k deducting by 22.5 naira (meaning 0.75), I shouted. Most annoyingly, the part is dat u will wait till the nxt day before it reflects i n alerts. However, they didn't tell me to be bringing the slips, them no fit try am. Otherwise, I will tell the marketer to come and be collecting it her self. Please others share ur experiences. I dnt know why u are not mentioneing ur bank names. Pls I want the best service, say ur bank names me am gt bank. Am even cosidrin microfinance banks that can issue pos if there plan is better. Because I dnt see y I keep making money for this ppl am wen I need a loan dey will start to sharpen their knives and shears.... 11 Likes |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 12:20pm On Jun 14, 2018 |
lilfreezy:Actually FCMB have a commission cap per transaction of 2k so if recieve a 20million payment u still get a 2k commission deduction |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by airex(m): 12:23pm On Jun 14, 2018 |
petsam11:if u want, I can get u 100 Android POS for #75,000 each and link it for u |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by Salex007(m): 12:23pm On Jun 14, 2018 |
haryorbarmie83:80k |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 12:29pm On Jun 14, 2018 |
lawrence35:Phone transfer is far more risky and frustrating. 1) some alerts takes hours to come, Also i hv been in a situation where i make a trasfer of 250k and due to the fact that alert takes times, i quickly showed him my debit alert which he confirmed himself(he is my customer). After leaving the place i got a reversal of the transferred money back to my account!!. It came something like dis.. " Debit alert. -250,000 dr from ac 52****012, new balance; ..." It got me wondering, what if it happened to a dishonest person? Leave oo. This country is a pool hole! 6 Likes 1 Share |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by autonomous22: 12:44pm On Jun 14, 2018 |
me sef no understand anything here. I come read comments but no body dey talk sense wey I go understand. |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by jayne8585yahoo(f): 12:45pm On Jun 14, 2018 |
Thanks for this post, I use Heritage bank and they charge 1% per transaction, their network coverage is too poor. please! Can you suggest a better bank and how do we go about it. |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by Nobody: 12:52pm On Jun 14, 2018 |
TroubleMaker47: The policy has been revised, it's now 1% across board for every type of business. Seems like cbn policies on tariffs are generally rigged in favour of the banks since the bank ceos fund the lifestyles of the cbn top dogs. Why should they charge any commission for transactions when they are collecting cot already? The fair deal is to amortize the pos terminal cost over a period, and then charge reasonable management fee either per quarter or per annum. You charge on money coming in, then you charge on the same money going out. That's just fraud. Nigerian banks are ripping-off their customers on an incredible scale 4 Likes |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by Nymeria247(m): 1:01pm On Jun 14, 2018 |
Dear OP, Only an analogue bank would require a POS Merchant to come to the bank with sales receipts when a serious digital bank like Fidelity bank Plc sets up their POS merchants on a portal called OLYMPOS where transaction reports are viewed, and downloaded by their POS merchants in real-time. POS Models: Below are approved POS models for your business needs. 1. XGD G2 (GPRS) (Global Accelerex Terminal)@ Unit cost of N67,000. 2. Orange Box 7210 (GPRS and Wi-Fi) @ Unit cost of N65,000. 3. Pax S90 (GPRS)@ Unit cost of N71,000. Note that POS transaction fee is 0.75% capped at N1,200. (the maximum charge for POS transactions is N1,200) You may want to go to CBN website and read up the full details yourself. 2 Likes |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by G8Arthur(m): 1:01pm On Jun 14, 2018 |
lizarazus: Bro, show me the way naa. If u know any bank that can do that I will open acct with them. |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by G8Arthur(m): 1:06pm On Jun 14, 2018 |
Agentone1:How much? I want pos that can scan qr code information and stamp it with time and date on a database. csv or xls. Pls if u understand, pm me. But am not in for an exorbitant price. Give ur quotation to zerisoftacademy@gmail.com |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by linearity: 1:08pm On Jun 14, 2018 |
lilfreezy: The way you stated...”if I make..”, make it sound as if the 0.75% is taken from your profit. It is coming from your revenue, which includes the cost of the goods. 2 Likes 1 Share |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by Mpanyi: 1:12pm On Jun 14, 2018 |
TroubleMaker47: Doesn't make the difference mathematically |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by G8Arthur(m): 1:13pm On Jun 14, 2018 |
TroubleMaker47: Oga I disagree with u. If the pay is coming in 3k, 5k, 2k etc, they will make the money in months so 20m still 150k |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by BlackBaron: 1:15pm On Jun 14, 2018 |
Who has any experience with that of Access Bank Please? I'm also looking for a pos software that can process and record our transactions, upc/ean barcode information and can be accessed online if required. |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by TroubleMaker47(m): 1:19pm On Jun 14, 2018 |
GidiWoodsMan:1% since when? Cuz as at last week when i did my check and balances, it was still 0.5% |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by G8Arthur(m): 1:28pm On Jun 14, 2018 |
Nymeria247:Sorry is this charge per transaction? 1 Like |
Re: POS For Business: How Stringent Is Your Bank's Conditions? How Else To Get POS? by Cupid4(m): 1:36pm On Jun 14, 2018 |
Please house, I feel this topic is actually meant for me coz I wanted to start an agency bank but still looking for the best means of getting POS machine, I will appreciate it if someone can really enlighten me on the best way to get it started with little cost. Thanks |
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