Please, for those using POS in their businesses, how do you cope with the bank's stringent conditions of exempting themselves from any form of problem or penalty that might arise while using the POS machine, but push the goal post and always kick the ball to the customer who needs the POS?

Do you always go to the bank every week to submit your payment/sales slips? Which I think is very annoying and "blood-sucking".

What other stressful and stringent conditions do you find annoying and tiring about/with the bank?

Which bank has very good customer friendly conditions when it comes to POS machine?

Again, are there other ways to get POS machines (cheaper) rather than from the bank, that won't require you going to the bank every week for submission of your sales slips and other stressful conditions?

How much does it take to get a pos.

haryorbarmie83:
How much does it take to get a pos.

I created this topic because I want to know. Because one of the banks that I applied to, for the POS said it is free of charge but that they will continue to deduct 0.75% for each/every transaction and so many other things.
But while going through the whole terms and conditions, it appeared too stringent and annoying. E come be like Greek gift...

One other conditions that I find very annoying and stressful is the one of coming every week to the bank to submit payment/sales slips that was done via the POS... Like how can I be doing that every week when one of the major reasons of me wanting to get this POS is to cut my movement in and out of the bank?
Again, why should they always be requesting for a payment slip every week when every transaction made with the POS must reflect in their system? Or are they trying to tell me that the POS machine is a manual/ledger stuff? Cos I don't understand. Or that the POS is always prone to malfunction which they still disclaimed that they will have nothing to do with it if it happens?
That's why I am here to get more information as regards everything that concerns POS. And to know if I can acquire it outside a bank and how much it may cost...
Pls bankers and ppl that know about the POS machine should please inform me better.
Thanks!

Fidelity own funny

Following

Finally what I've been waiting for. Stanbic told me to bring loads of documents like company registration, tax receipt and so on. Just left them for good and I need it so badly

I don't visit the bank for any slip submission, I always call my account officer or the person in charge of POS to lay any complain that may arise. Eg late or incomplete credit of my transactions.

f

POS that made my guy broke! hmmmmm SEE MY SIGNATURE

Brb

merci

Good Morning, 1st of all, u don't have to go to the bank for reconciliation. u can do that on your own. what you should ask from your bank is your POS TRANSACTION STATEMENT. it depends on how frequently you would like to get it. u can then reconcile with your bank statement. you can also negotiate the charge on POS depending on the volume of transaction. some banks will still go as low as 0.2%. Good Luck.

A solution that would retire Point of Sale Machines is in the pipeline, the POS technology is not fast paced for the 21st century, a company i work with is going to deploy such soon.

STAY AWAY FROM POS, IT WILL MAKE YOU RUIN YOUR LIFE AND BUSINESS

Example if I charge 100 naira for any transactions below 5000 that's 37.5 naira for them
But 0.75% of every transaction is high, more like 40% for them and 60% for you in your commission.

The only 'problem' I have with mine is the small percentage they take from each transaction. Which if u look at the gain, it is not a problem really. There is nothing like submission of slips, it is only advisable to keep the slips incase any of the transactions fails to drop into ur account the next working day,u can go to the bank to make such a complain. Though I ve n'er experienced such.
I also advise that u ask customers to make transfer first, as this will enable u get ur money immediately and in full, whereby transfer fails, u can then go for POS

You can easily get a POS device...

Very cute Android POS devices with fingerprints, Camera, Iris scanners, RFID reader, bar code scanners,fix or swipe card, interface with color screen and can host multiple applications etc...

Mail: support@agentone.ng if interested

Available in large quantities

BAILMONEY:
STAY AWAY FROM POS, IT WILL MAKE YOU RUIN YOUR LIFE AND BUSINESS

Your reason?

haryorbarmie83:
How much does it take to get a pos.

Its free

West Africa bloggers award needs an influencer who can make twitter trend for its award. Interested person should contact Olufemi : 0_9_0_3_2_2_0_0_9_8_2
Or email westafricabloggersaward@gmail.com

Agentone1:
You can easily get POS ...

Very cute Android POS devices with fingerprints, Camera, Iris scanners, RFID reader, bar code scanners,fix or swipe card, interface with color screen and can host multiple applications etc...

Mail: support@agentone.ng if interested

You don't mean it

petsam11:


I created this topic because I want to know. Because one of the banks that I applied to, for the POS said it is free of charge but that they will continue to deduct 0.75% for each/every transaction and so many other things.
But while going through the whole terms and conditions, it appeared too stringent and annoying. E come be like Greek gift...

One other conditions that I find very annoying and stressful is the one of coming every week to the bank to submit payment/sales slips that was done via the POS... Like how can I be doing that every week when one of the major reasons of me wanting to get this POS is to cut my movement in and out of the bank?
Again, why should they always be requesting for a payment slip every week when every transaction made with the POS must reflect in their system? Or are they trying to tell me that the POS machine is a manual/ledger stuff? Cos I don't understand. Or that the POS is always prone to malfunction which they still disclaimed that they will have nothing to do with it if it happens?
That's why I am here to get more information as regards everything that concerns POS. And to know if I can acquire it outside a bank and how much it may cost...
Pls bankers and ppl that know about the POS machine should please inform me better.
Thanks!

I advice you go for First bank POS device....they equally have this site called Olympos, there you monitor every transaction done via POS as it drops.you will just like their terms and conditions.

0.75% you say so if I make let's say 20million, the bank will get 150k. Mehn that's too much. Nawa o. After I pay tax, pay rent, pay electricity bills for the business and buy fuel for lack of power.

Running a business is this country is frustrating

Banks POS are rubbish just go for inter switch POS that one is instant debit and crediting.with just 85k.

Ologogoro:


You don't mean it

I mean every bit of it

femivvita:
West Africa bloggers award needs an influencer who can make twitter trend for its award. Interested person should contact Olufemi : 0_9_0_3_2_2_0_0_9_8_2
Or email westafricabloggersaward@gmail.com

How much are you guys ready to pay.
More active on IG than on twitter

Register as agents mobile money company like fortis mobile money and get pos instantly anywhere in Nigeria

lilfreezy:
0.75% you say so if I make let's say 20million, the bank will get 150k. Mehn that's too much. Nawa o. After I pay tax, pay rent, pay electricity bills for the business and buy fuel for lack of power.

Running a business is this country is frustrating

15,000 actually on 2 million






Is it possible to Purchase the POS terminal yourself then choose the Bank to link to?