Interchange fees per transaction vary depending on: This is the fee we pay to the card schemes (Visa and MasterCard) when they process your transactions. When a payment transaction is made, we will update the transaction information in your Zettle Account confirming that the transaction has taken place and setting out the details of the transaction as further described in section 15. We will only attempt to correct transactions that you process incorrectly if you notify us of such error without undue delay and no later than sixty days of when the error first appeared on your electronic transaction history. Fees will be assessed at the time a transaction is processed and will be deducted from the funds received by us and credited to your Zettle Account or PayPal Account. If we believe that a Chargeback is likely with respect to any payment transaction, we may withhold the amount of the potential Chargeback from payments due to you under these Payment Terms and Conditions until such time that: a) a Chargeback is assessed due to a customers complaint, in which case we will retain the funds, b) the period of time under applicable law or regulation by which the customer may dispute the transaction has expired, or c) we determine that a Chargeback on the transaction will not occur. All Zettle hardware is a one-off purchase with no recurring fees, and our POS app is free to use, so you only pay for the transactions you process. VAT Exceptions and Reports; Edit VAT Settings, Codes and Rates; Submit a VAT Return in QuickBooks Online . We may recover the amount of any Chargeback and any associated fees, fines, and/or penalties assessed by the Card Schemes or our Acquirers from funds credited to your Zettle Account or paid out to your PayPal Account or any other funds due to you under these Payment Terms and Conditions. Others (I know) are not. This section 16 applies only if you are a Zettle-only Merchant or Connected Merchant as described in section 1 above. Thank you - Just seen this re: Go Cardless? Subsequently, Is SumUp better than iZettle? You will receive funds either to your PayPal Account or Bank Account (your Designated Account) depending on the group of Merchants you fall in as described in section 1 above: If you are a Fully Merged Merchant, funds from a payment transaction credited to your Zettle Account will be paid out to your PayPal Account per transaction. - The current account bank feed will be allocated as a transfer ex Zettle control, The beauty of being taught never (ever, or else!) Customers may receive an electronic receipt via email or SMS, rather than a paper receipt. If you have any questions or concerns regarding the content of these Payment Terms and Conditions or would like to get a better understanding of how the Payment Service works, please do not hesitate to contact us. . However, my concern is that the amount on the invoice to the customer is 260.00 but the amount received in the bank account is 255.45. You are solely responsible for issuance and management of gift cards. GoCardless is now required to charge VAT across all of the fees that we charge for our services provided to merchants located in the UK and France. If you have signed up for the Payment Service as a company or other business entity, you confirm and agree that we may require a personal guarantee from an owner, director, principal or other representative of your business or the establishment of a bank guarantee or provision of other suitable security for the due performance of your payment obligations under these Payment Terms and Conditions. Although, not always lower compared to many UK merchant account fees. We may require and/or hold a Reserve for any reason, including if you have a high rate of Chargebacks, refunds, or other indications of performance problems related to your use of the Payment Service. You authorise us to share information with law enforcement about you, your transactions, or your use of the Payment Service if we reasonably suspect that your Zettle Account has been used for unauthorised, illegal, or criminal purposes. Is this because it is a reverse charge supply so if a UK company were lookin. PayPal (Europe) S. r.l. There are many options, all of which are affordable as well as boasting a range of security features and abilities. PayPal QR codes are a safe, touch-free way for customers to pay in-store. For the purposes of these Payment Terms and Conditions, PayPal Account shall mean the PayPal business account opened pursuant to the PayPal User Agreement. My client has linked Izettle to QuickBooks, but has a problem when it comes to matching the payments. If there has been no activity on your Zettle Account for at least two consecutive years and you have a balance on your Zettle Account, we will notify you on the email address registered by you and/or associated with the Zettle Account and give you the option to keep your Zettle Account active or to close your Zettle Account and request a withdrawal of any funds that we hold on your behalf. The transaction fee is set at a flat rate of 1.75% for all card reader transactions, and there are no monthly fees or hidden costs. Also, when I reconcile iZettle payments into the account there doesn't appear to be an option to recognise VAT. Scheme fees per transaction vary depending on: Card type (e.g. If the error results in your receipt of less than the amount to which you were entitled, we will credit your Zettle Account for the difference. You may only use the Invoicing Service in order to issue, manage and administer invoices in accordance with these Payment Terms and Conditions. Feel free to leave a reply if you have more questions about managing VAT rates, TLC1231. It is your responsibility to inform your customer that you will use the App to send them a receipt via email or SMS before doing so. This authorisation and instruction will remain in full force and effect until your Zettle Account is closed or terminated. Once we have verified your Designated Account (if applicable), we will take commercially reasonable efforts to initiate payout of funds (less our Fees, Chargebacks, reserve, refunds, reversals, claims and other funds owed to us) to your Designated Account on the business day immediately following the business day on which we received the funds on the Client Account, unless otherwise set out in these Payment Terms and Conditions. You need a Zettle control account in the software. If we determine that you are incurring an excessive number of Chargebacks or that Chargebacks related to you are too frequent, we may establish controls or conditions governing your Zettle Account or PayPal Account, including without limitation: a) creating a reserve in an amount reasonably determined by us to cover anticipated Chargebacks and related fees, penalties or fines, b) suspending your access to and use of the Payment Service, and/or c) terminating and closing your Zettle Account or your PayPal Account. You agree to assist us when requested, at your expense, to investigate any transaction processed through the Payment Service. These Payment Terms and Conditions will survive your termination of the Payment Service for so long as is necessary in our discretion to carry out their intent. Deemed authorised and regulated by the Financial Conduct Authority. et Cie, S.C.A. A step by step guide to starting your own practice. Weve made the app easy to use, with features to help you take payments in store and remotely, track sales with powerful reporting, manage stock and much more. If we are unable to recover funds related to a Chargeback for which you are liable, you will pay us the full amount of the Chargeback immediately on demand. Here's how: Click the New icon (+). When using the Invoicing Service you agree that we are not responsible, for, will have no liability in respect of, and that you are solely responsible for a) issuing, managing and administrating the invoices generated through the use of the Invoicing Service in accordance with all applicable laws, rules and regulations and your privacy policy, b) the accuracy and completeness of your invoices, c) ensuring that your customers pay in accordance with the invoice issued through the use of the Invoicing Service, d) any payment instructions being incorrect, e) funds that, due to you providing incorrect information to us, have been transferred to a bank account that does not belong to you, and f) the recipient of the invoice having such technical installations, firewalls, domains, software etc. If these funds are not sufficient, you understand and agree that we are not obligated to process the refunds. You may not issue gift cards with a value in excess of 1,000 GBP (or its equivalent in foreign currency) or add value to a previously issued gift card so that the total funds loaded on a gift card in any single day exceed 1,000 GBP. Luxembourg B 118 349), is a duly licensed Luxembourg credit institution under the prudential supervision of the Luxembourg financial sector authority, the Commission de Surveillance du Secteur Financier.Copyright 2022 PayPal Inc. When you log into your Zettle Account, you see the balance of your PayPal Account. If there are insufficient funds to cover your liability, you agree to reimburse us immediately on demand through other means. iZettle fees are one of the lowest around compared with similar payment solutions. We reserve the right to suspend your access to and use of the Payment Service and to terminate and close your Zettle Account if you fail to allow us, or a third party designated by us, to conduct such audit upon our request. PayPal's fee drops to 1% after passing the 15,000/month . In order to receive funds from your Zettle Account, you must designate and, if we so request, verify a bank account held in your name in a bank in the United Kingdom (Bank Account). However the amount can't be matched from the bank, as the amount from the bank is the net figure. If you have a PayPal Account and you separately create a Zettle Account which you authorise and instruct us to connect to your PayPal Account, your PayPal Account and Zettle Account are connected ("Connected Merchant"). Funds from a payment transaction credited to your Zettle Account will not be paid out to your Designated Account until the transaction is deemed completed. You may also purchase Zettle Readers from our Accessories Store or from other authorised retailers. The Zettle Gift Card Service does not include the supply of physical cards or other value certificates. You may not provide a cash refund on gift cards except to the extent required by law. consumer card or commercial card). There are three types of fees set out in the fee schedule. Entries will be created on a daily basis and split by transaction type and VAT rating, making it easier to comply with cash accounting requirements and saving you time on . No record of the 4.55 iZettle fee as it is charged before we even see the money from this sale. Zettle may also make other charges that are not exempt. These subsections set out the authorisation(s) you will need to grant us to transfer funds credited from your Zettle Account to your Bank Account or PayPal Account (as the case may be). Internet connection and data usage For Zettle to work, you need to be connected to a 3G, 4G or wifi network. Once we have obtained, collected and verified all your information, we will assess whether you are eligible to get access to and use the Payment Service. By signing up for the Payment Service, you instruct and authorise us to perform credit checks, sanction controls and other verifications which may require that you supply such additional information and documentation as is reasonably required for us to verify your identity and fulfil all our anti-money laundering, counter terrorist financing and other regulatory obligations. PayPal (Europe) S. r.l. Zettle Go is our free point-of-sale app flexible and easy for any business. Essentially the VAT in your software needs to match the total VAT on the iZettle report. VAT. For example, a product which qualifies for the VAT margin scheme sells for 260.00 (260.00 charged on our iZettle card machine) The amount actually received in the bank is 255.45 because iZettle takes their fee of 1.75% of every transaction and this is taken before the funds reach our bank account. You may not in any way refer to us, our Acquirers or the Card Schemes as having endorsed your products and/or services. Comparing the cost of SumUp Vs iZettle. You may not use the Payment Service to carry out Card transactions with your own Cards or any Cards that are issued in your name. In addition to what is set out in section 11 of the General Terms and Conditions, you acknowledge that we are required to report your business name and the name of your beneficial owners and/or principals to the MATCH listing maintained by MasterCard and accessed and updated by American Express, and the VMAS database upheld by Visa, if applicable, pursuant to the requirements of the Card Scheme Rules. Can I use iZettle without WIFI? *Additional terms and conditions apply. Last update and effective as of: 7 December 2022. Choose what suits you best turn your smartphone or tablet into a POS with the Zettle Reader, add accessories and docks, or choose an all-in-one solution like the Zettle Terminal. The Zettle Gift Card Service is integrated into your Zettle Account and enables you to sell, track and redeem gift cards in your physical store. Terminal pricing and fees subject to change. Through the Zettle Account settings, you may select the frequency of the payout of funds to your Designated Account. You must comply with any and all instructions provided by us to you regarding the acceptance and authorisation of payment transactions, including those available on our Website. You authorise and instruct us to receive, hold and disburse funds in accordance with these Payment Terms and Conditions on your behalf. However I am confused by the impact of the ruling in HMRC v NEC which seems to say transaction charges are subject to VAT. Price includes a USB cable for charging and wall plug. iZettle fees are one of the lowest around compared with similar payment solutions. The App will prompt you as to what verification is necessary, based on a customers Card. Must admit i had seen the Go cardless change which was backdated to april and was wandering if there is any read across to other providers - i can only guess providing a service to collect funds by direct debit is seen as a being different to a basic bank/credit card charge. You acknowledge and understand that the Gift Card Service only supports multi-purpose vouchers meaning that any VAT due is only payable when the voucher is redeemed for goods or services. Price includes a USB cable for charging. VAT Help Documents If you are a Connected Merchant, funds from a payment transaction will be credited to your Zettle Account and then paid out to your PayPal Account daily. Any agreement regarding custom rates are subject to a specific agreement between the parties. You agree that you will comply with the Card Scheme Rules and the Specific Terms and that the Card Scheme Rules and the Specific Terms have precedence over these Payment Terms and Conditions with regards to the relevant payment method and that, in case of any conflict between a provision in these Payment Terms and Conditions and the Card Scheme Rules/the Specific Terms, the following order of priority will apply: (i) the Card Scheme Rules, (ii) the Specific Terms and (iii) the Payment Terms and Conditions. In addition to any other warranties set out in these Payment Terms and Conditions and in section 14 of the General Terms and Conditions, you warrant to us that: a) any payment transaction submitted by you through the Payment Service will represent a bona fide sale by you, b) any payment transaction submitted by you through the Payment Service will accurately describe the products or services sold and delivered to your customer, c) you will fulfil all of your obligations to each customer on behalf of whom you submit a payment transaction and will resolve any customer dispute or complaint directly with the customer, d) you will, and any payment transactions submitted by you through the Payment Service will, comply with all laws, rules and regulations applicable to your business and the Payment Service, e) except in the ordinary course of business, no payment transaction submitted by you through the Payment Service will represent a sale to any principal, partner, proprietor, or owner of your business, f) you will not use the Payment Service, directly or indirectly, for any fraudulent undertaking or in any manner so as to interfere with the use of the Payment Service. How much do iZettle charge per transaction? Deemed authorised and regulated by the Financial Conduct Authority. Furthermore, we will not be responsible or liable for any funds that, due to incorrect or incomplete Bank Account information provided by you, have been paid to a bank account that is not held in your name. However IZettle pay the client 120 less 1.75% ie 117.90. Ordinary card reader price 59 excl. We reserve the right not to authorise or process any payment transaction that you submit through the Payment Service that we believe may be in violation of the General Terms and Conditions, the Payment Terms and Conditions or any applicable laws, rules or regulations or that may expose you or us to harm, including but not limited to fraud or other criminal acts. Under the PSRs and EMRs, a person providing payment services or issuing electronic money without FCA authorisation or registration in reliance on the exclusion known as the limited network exclusion (LNE), must notify the FCA where the total value of the payment transactions executed through such services and/or made with the electronic money in any period of twelve months exceeds 1 000 000 euros (or its equivalent in foreign currency). The refund amount may not exceed the original sale amount except by an amount equal to any reimbursements to the customer for postage costs incurred for product returns. We will provide you with information regarding payment transactions with a reference enabling you to identify the transaction, the amount of the transaction in the currency in which your Zettle Account is credited and the amount of the Fee for the transaction. 10 . Any funds credited to your Zettle Account and held by us on your behalf at the time your Zettle Account is suspended or closed will be paid out to you in accordance with section 14, unless otherwise set out in these Payment Terms and Conditions. The fee you pay to us is not affected by any of these fees. As a credit institution we facilitate the processing of payment transactions and, in order for us to do this, we have entered into agreements with acquiring banks (Acquirers). We may perform additional credit checks and verifications from time to time to determine whether you continue to be eligible for access to and use of the Payment Service. We are responsible for protecting the security of Card information in our possession. Is this because it is a reverse charge supply so if a UK company were looking at offering a similar service it would be fully VATable? For each sale, there will be a receipt and two payments. The Zettle app is free to download. Discover the Accounting Excellence Awards, Explore our AccountingWEB Live Shows and Episodes, Sign up to watch the Accounting Excellence Talks, Preparing clients for postponed VAT accounting. In this context, you authorise and instruct us to comply with collection, deductions and remittance requests received from the relevant lender or financing provider (or its respective account bank or other service provider) on your behalf. By accepting these Payment Terms and Conditions, you agree that you will not use the Payment Service to accept payments in connection with the following businesses or business activities without our express written approval, which approval we may withhold or revoke in our sole discretion where we find this to pose a risk to our business and/or reputation: a) private healthcare services, b) gambling and betting services (irrespective of if such gambling and betting services are provided in accordance with all applicable laws and authorised by all applicable regulatory authorities), c) financial services (irrespective of if such financial services are provided in accordance with all applicable laws and authorised by all applicable regulatory authorities), d) gift cards (other than as set out in section 3 and section 28 as well as in accordance with our General Terms and Conditions), e) services involving the organisation of planned public or social events, such as sale of tickets, or f) transportation and travelling. In addition to any other obligations, requirements, restrictions or limitations set out in these Payment Terms and Conditions, you agree that you will not: a) apply a price threshold for accepting a Card, b) apply a higher price or additional fees for the use of a Card in connection with a transaction, unless permitted to do so under any laws, rules and regulations of your specific jurisdiction and the Card Scheme Rules, c) utilize any credit available on any Card to provide cash advances to customers, d) in relation to in-store transactions, carry out transactions in territories other than the United Kingdom and in currencies other than GBP, e) discriminate between Cards for any reason, unless permitted to do so under any laws, rules and regulations of your specific jurisdiction and the Card Scheme Rules, f) submit any transaction for processing that does not arise from your sale of products or services to your customer, i.e. * Fees are subject to change. We may remove or add Cards that we accept at any time without prior notice to you. You acknowledge that your failure to assist us in a timely manner when investigating a transaction, including providing necessary information and documentation within ten days of our request, may result in an irreversible Chargeback. Payments and fees. If you have taken up a loan from, or utilized any other form of financing arrangement offered by any other company within the PayPal Group, you acknowledge and instruct us that any sums due (or otherwise agreed to be paid) in respect of such loan or financing may be collected, deducted and subsequently remitted to the relevant lender or financing provider (or its respective account bank or other service provider) on your behalf from your transaction proceeds or any other funds held or maintained by us on your behalf until such time the amount owed by you under such loan or financing arrangement has been repaid in full. 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