A card machine costs three things. The hardware, published on this shelf between 11 and 179 pounds. The monthly fee, published between zero and about 18 pounds plus VAT. And the percentage of everything you take, published between 0.79% and 1.75%. On typical small business takings the percentage dwarfs the other two within the first quarter.
The cost of card machine ownership: a worked year at 3,000 pounds a month
At 36,000 pounds of annual card takings, a 1.10% account costs about 396 pounds a year in transaction fees. A 1.75% account costs about 630 pounds. Add a 39 pound terminal to the first and nothing to the second and the cheaper account is still about 195 pounds ahead in year one, and 234 pounds ahead every year after that.
How much do card machines cost beyond the rate?
Authorisation fees per transaction, a minimum monthly service charge, PCI compliance fees and chargeback fees. Lloyds Cardnet prints a minimum monthly charge of 10 pounds, which is what a quiet month actually costs there. Tyl by NatWest lists authorisation and PCI compliance among its charges. Teya's published schedule prices transfers and cash deposits separately.
What a low quote can leave out
Introductory periods are the commonest omission: Barclaycard prints no monthly service fee for twelve months and then a stated monthly figure. Add-ons are the second: Lopay publishes a schedule adding a per transaction charge for tap to pay and a percentage for payment links and invoicing. Neither appears in a headline comparison and both are on the provider's own pages.
Other questions people ask
How much does a card machine cost per month in the UK?
Published monthly fees in this index run from zero to about 18 pounds plus VAT, with rented terminals from bank owned acquirers priced at 15 to 18 pounds a month per machine. The transaction rate is a separate and usually larger cost.
Is there a minimum monthly charge?
At some providers, yes. Lloyds Cardnet prints a minimum monthly charge of 10 pounds and Teya prints a fee that applies when monthly card turnover falls below a stated level. A seasonal business should ask about this specifically.
What is the cheapest way to have a card machine?
For low takings, a no monthly fee account with an outright reader. For higher takings, a subscription plan with a lower percentage. The crossover on this shelf usually falls between 2,000 and 4,000 pounds of monthly card turnover.
How much is a card machine over a full year, all in?
The rate applied to a year of your card takings, plus twelve monthly service charges including any minimum in a quiet month, plus the per authorisation fees, plus PCI compliance and any chargeback fees, plus the terminal once. Introductory periods are the commonest thing missing from a low quote, so check what the monthly fee becomes after the first year.