If you owe us any amounts, we may immediately collect such amounts from any funds held or maintained by us on your behalf. If the amount received of 117.90 was entered through the books the VAT on that would only be 19.65. 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. I'll be here to answer them . Information about available Zettle Readers and how they can be purchased can be found on our Website. 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. All Zettle hardware is a one-off purchase with no recurring costs and our POS app is free to download, so you only pay for the transactions you process. Here's how: Click the New icon (+). 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. If we require a personal guarantee, bank guarantee or other form of security we will specifically inform you. While iZettle doesn't publish the actual breakpoints, they do have a calculator on their website, which allows you to calculate the exact transaction fee for any monthly card turnover. Refunds are free to process and you also get the transaction fee refunded. 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. 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? You may not provide a cash refund on gift cards except to the extent required by law. To be eligible to process Manual Card Entry transactions, you must be a Fully Merged Merchant and have successfully completed a Card transaction through a Zettle Reader. Any amount attributable to a payment transaction may be reversed or charged back to your Zettle Account (a "Chargeback") if the transaction: a) is disputed in any way, b) is reversed for any reason by the Card issuer, c) was not authorised or we have reason to believe that it was not authorised, and/or d) is alleged to be illegal, suspicious or in violation of these Payment Terms and Conditions. We reserve the right to temporarily suspend and/or delay payouts to your Designated Account and/or restrict access to any funds credited to your Zettle Account where we need to conduct an investigation or resolve any pending dispute relating to your Zettle Account and/or as necessary to comply with the Card Scheme Rules, applicable law or court order or if otherwise requested by law enforcement or any governmental authority. Check out our price list below to find the perfect complement to your business, or get in touch to find out about our special custom ratesnote 1. Scheme fees per transaction vary depending on: Card type (e.g. Card transactions via your online store cost 2.5% each, while . transactions made using the contactless induction technology in a Zettle Reader or a compatible mobile device supporting contactless transactions made by Card or smartphone/device transaction using near field communication technology or QR codes), however you may not process a contactless transaction with a value exceeding the prevailing amount limit for that transaction set by an Acquirer, a Card Scheme and/or us from time to time, as set out on our Website. HMRC guidance seems to state it is not exempt but I havent ever seen a credit card fee from someone like iZettle subject to VAT? In addition to what is set out in section 10 of the General Terms and Conditions, you agree that we may from time to time be required to report to revenue or tax authorities, as required by law, your name, address and information regarding transactions processed by us on your behalf through your use of the Payment Service. You are not permitted to process Manual Card Entry transactions when your customers Card is present. As for transaction fees, here's what iZettle charges: Card-Present Transactions: 1.75% Invoiced Transactions: 2.5% Payment Link Transactions: 2.5% Keyed-In Transactions: 3.4% + 20p QR Code PayPal Payments: 1.75% The iZettle Reader retails for 59, excluding VAT, while the Zettle Terminal sells for 149 (excluding VAT). By accepting these Payment Terms, you accept that, upon reaching these thresholds, the Commercial Entity Agreement(s) will automatically apply between you, us and the relevant Acquirer, respectively. *Youll find the full list of transaction fees for all accepted payment methods on our pricing page. The interchange fee and scheme fee may vary depending on which acquirer we use. Notwithstanding the above or any other provision of these Payment Terms and Conditions and in addition to what is set out in section 15 of the General Terms and Conditions, you agree to defend, indemnify, and hold us, our Acquirers, the Card Schemes and each of our respective directors, agents, affiliates, service providers, and representatives harmless from and against any claim (including all third-party claims), cost, suit, demand, loss, liability, damage, action, proceeding judgment, penalty, interest and expense (including without limitation reasonable attorneys fees) arising out of or relating to: a) any actual or alleged breach by you of any provision of the Card Scheme Rules, b) any payment transaction submitted by you through the Payment Service, and c) third party indemnity obligations we incur as a direct or indirect result of your acts or omissions (including indemnification of any Acquirer, service provider, or Card Scheme). I'm still confused by the rules with regard to VAT on IZettle fees. 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. Additionally, to secure your performance of these Payment Terms and Conditions, you grant us a legal claim against the funds in your Designated Account as security for any amount you may owe us. No record of the 4.55 iZettle fee as it is charged before we even see the money from this sale. *Additional terms and conditions apply. Pricing for Zettle is clear and concise with no hidden fees to worry about either (Image credit: iZettle) Features Subsequently, Is SumUp better than iZettle? VAT Help Documents Filing options for small companies up for change. It is important that you understand the risks and liabilities associated with the use of the Payment Service, and you should read these Payment Terms and Conditions carefully before agreeing to them and before you start using the Payment Service. As a Connected Merchant, you accept that any payout of funds from your Zettle Account will be made to your PayPal Account. The cost for a wall plug is not included. The fear of god roaring at you does actually stand you one in good stead, Is VAT charged on IZettle fees confused by VAT notice and HMRC v NEC ruling, 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. . If these funds are insufficient, you understand and agree that we are not obligated to process the refunds. So my client receives 10,000 from I Zettle into her bank account in January and there are fees of 175 shown as deducted by IZettle. We've 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. Zettle may also make other charges that are not exempt. You agree to pay all costs and expenses, including without limitation attorneys fees and other legal expenses, incurred by or on behalf of us in connection with the collection of all balances unpaid by you. Click the Receive payment button. The acquirer is the party that processes and settles the payment from your customer to Zettle. No contracts or hidden costs. You may use the Payment Service to process contactless transactions (i.e. that you are not deemed to be issuing electronic money under the EMRs or providing regulated payment services under the PSRs. For each sale, there will be a receipt and two payments. You must notify us immediately through our Website or by contacting our customer success team at support.uk@zettle.com if you discover or have reason to believe that there has been an error or unauthorised or illegal use of your Zettle Account and, where possible, change your Account Credentials to prevent any further errors and/or unauthorised or illegal use. Deemed authorised and regulated by the Financial Conduct Authority. You are also responsible to contact us if you suspect that your Zettle Reader has been tampered with or stolen. You agree, upon our request, to take all reasonable measures to assist us in verifying your Bank Account. 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). A list of the Acquirers we co-operate with for the provisioning of the Payment Service from time to time can be found here. If you do not respond to our notice within thirty days, we will automatically close your Zettle Account and any funds that we hold on your behalf will be handled in accordance with applicable law. How to claim VAT on Stock Donated to charity. In addition to what is set out in section 15 of the General Terms and Conditions, you are responsible for all Chargebacks, reversals, refunds, fees, fines, penalties and other liabilities incurred by a third party or us caused by your access to and use of the Payment Service and/or arising from any breach by you of any provision of these Payment Terms and Conditions. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authoritys website. You are solely responsible for issuance and management of gift cards. 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). Here's how: Open the invoice. We charge per transaction there are no hidden fees or lock-in contracts. Last update and effective as of: 1 July 2021. The fee you pay to us is not affected by any of these fees. The Zettle Gift Card Service provides you a platform where you can offer your customers gift cards to use in your physical store for your products and services and manage and administer the sale of gift cards. Reader pricing and fees subject to change. 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. This is due to a change in the application of tax law which means we can no longer benefit from a VAT exemption applying to the supply of payment services. I note there is no VAT on iZettle charges and others who offer the same service. It is based on your transaction volume during one calendar month and is charged as a % of the transaction amount. Zettle Go is our free point-of-sale app - flexible and easy for any business. Where VATable deductions are made from payments received, that VAT would be an input! For certain businesses, we offer custom pricing options. The Payment Service is subject to the Card Scheme Rules and may also be subject to specific terms and conditions which apply to the use of certain payment methods (Specific Terms) provided by us or a third party (a Third Party Payment Provider). 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. Gift cards issued by you must only be redeemable at your store(s) for goods and/or services provided by you at your premise(s). You authorise us to direct questions to and obtain information from the relevant bank, including for the purpose of verifying your designated Bank Account. There is no lock-in contract, so you can cancel any time at no extra cost. It's suitable for most types of businesses and integrates with a host of software, so you can build what works for you. Izettle fees. SumUp iZettle No monthly fees No contract . Customers may receive an electronic receipt via email or SMS, rather than a paper receipt. 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. Zettle uses Bambora and Elavon as its acquirers in the EU. In addition to the fees set out in the fee schedule, we also pay fees to other parties involved in the payment flow. Can I use iZettle without WIFI? This fee is the only fee for transactions that you pay to Zettle. All the products the client sells are VATable. VAT on this is 20. The interchange fee and scheme fee may vary depending on which acquirer we use. If at the time you sign up to the Payment Service you create a Zettle Account and authorise and instruct us to merge it with your existing or new PayPal Account, you will have a fully merged PayPal Account and Zettle Account ("Fully Merged Merchant"). A Card transaction will be deemed completed when we have received the funds from the relevant Card Scheme or Acquirer. For the same fee, iZettle Go also offers the more flexible pay by link option, where a simple payment link can be sent by sms, email, or through WhatsApp or Messenger. Additionally, I've added these articles that'll help you stay informed on managing your VAT rates in QuickBooks Online. 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. Terms and Conditions for Zettle Pro. A step by step guide to starting your own practice. 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. If we do process such refunds and it results in a negative balance on your PayPal Account, you agree to pay all funds owed to us immediately on demand and any applicable process described in the PayPal User Agreement may be enacted. How the refund is processed through the Payment Service depends on which group of Merchants you belong to in accordance with section 1 above: If you are a Zettle-only Merchant or a Connected Merchant, for approved refunds, we will deduct the refund amount (including any applicable fees) from funds owed to you from the processing of other transactions, or funds credited to your Zettle Account. You may not issue gift cards through the Zettle Gift Card Service valid longer than thirty-six (36) months from the date of issuance. Further, you may not issue more than 5,000 GBP in gift cards to any single person in any one day. You further agree that we may share information about a Chargeback with your customer, the customers financial institution and the Acquirer, and our other service providers in order to investigate and/or mediate a Chargeback. If you do not agree to these Payment Terms and Conditions (or if you do not have the right to bind the company or other business entity you are representing), you are not permitted to access or use the Payment Service. 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. When you log into your Zettle Account, you see the balance of your PayPal Account. - Your client then pays x in fees (VAT position on fee TDB here). The transaction information will also show all Fees incurred, any other amounts charged to your Zettle Account in the relevant period and information on payouts to your Designated Account. Payments and fees. A step by step guide to starting your own practice. Youll be charged a fixed transaction fee, regardless of which card you process with your Zettle Reader or Terminal. You receive a 1% (of gross) payment fee and receive 118.80. We will assume that you are the sender of any transactions and other instructions to us when sent using your Account Credentials. We will only begin permitting you to process transactions after we have determined that you are eligible for access to and use of the Payment Service. PayPal QR code transaction fees are the same flat rate as card transaction fees for transactions you process with your Zettle Reader or Terminal. 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. Do I need to charge VAT to client for Freelancer? When you log into your Zettle Account, you see the balance of your Zettle Account. We may add, delete and amend certain payment methods at any time and the Card Scheme Rules and the Specific Terms may also be amended from time to time in accordance with the relevant terms and conditions. We reserve the right to designate an amount of funds that you must maintain in your Zettle Account and/or accrue a reserve on your behalf (a Reserve) to secure the performance of your payment obligations under these Payment Terms and Conditions or such other requirements that we may determine to be necessary to protect against the risk associated with our business relationship with you. This authorisation and instruction will remain in full force and effect until your Zettle Account is closed or terminated. If you are a Zettle-only Merchant, funds from a payment transaction credited to your Zettle Account will be paid out to your Bank Account. To access and use the Payment Service, you must create a Zettle Account as described in section 1 of the General Terms and Conditions. You may only use the Invoicing Service in order to issue, manage and administer invoices in accordance with these Payment Terms and Conditions. Its suitable for most types of businesses and integrates with a host of software, so you can build what works for you. Such agreement is to be entered into at our sole discretion. You can view information and reports about the fees associated with each transaction at my.zettle.com. 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. The Payment Service is, in addition to these Payment Terms and Conditions and applicable laws, rules or regulations, governed by the requirements and guidelines established by our Acquirers as well as the requirements and guidelines (together, the Card Scheme Rules) established by Visa Europe Limited, MasterCard Europe S.A., American Express Limited and other applicable card schemes (together, the Card Schemes). Others (I know) are not. You will also be able to access downloadable reports. Check it out here. . Your continuing use of such payment method constitutes your consent and agreement to such additions, deletions or amendments. If any of the goods or services that you supply are VAT exempt or you are underneath the VAT threshold then you won't be able to reclaim the cost of VAT. You are solely responsible for compliance with laws and regulations that apply to your gift cards. The interchange fees and scheme fees charged by Bambora and Elavon are separately provided in the fee schedule. You need a Zettle control account in the software. If these funds are not sufficient, you understand and agree that we are not obligated to process the refunds. For the purposes of these Payment Terms and Conditions, PayPal Account shall mean the PayPal business account opened pursuant to the PayPal User Agreement. We will not be responsible or liable for the ultimate credit of funds to your Bank Account once we have instructed payment to your Bank Account. Now, let's deposit the payments including the fees. 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. An authorised payment transaction may not be withdrawn by you or your customer after the end of the day on which your customer authorised the transaction. Comparing the cost of SumUp Vs iZettle. You must provide us all information and documentation in your possession as to the circumstances of any such error and/or unauthorised or illegal use of your Zettle Account and take all reasonable steps requested by us to assist in our investigation. Customer Information may include e-mail address, name, address, personal identification number (or equivalent), trade name, registration number, telephone number and information concerning the purchase. 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. Although, not always lower compared to many UK merchant account fees. Is this because it is a reverse charge supply so if a UK company were lookin. Through the Zettle Account settings, you may select and instruct us to maintain funds on your Zettle Account specifically for funding refunds or to expedite execution of refunds. 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 . You must submit all requests for refunds and adjustments for returns of your products or services through the Payment Service in accordance with these Payment Terms and Conditions and the applicable Card Scheme Rules. You acknowledge that we must fulfil the obligations related to such listing and reporting, and you waive and agree to hold us harmless from all claims and liabilities you may have as a result of such listing and reporting. So lets say gross sale by the client to his customer is 120. PayPal (Europe) S. r.l. Our Acquirers and the Card Schemes may from time to time impose certain limits on Merchants annual Card transaction volume through the use of the Payment Service. 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. If a customers Card includes an electronic chip, you must always prioritise obtaining chip and PIN authorisation before obtaining a signature. PayPal (Europe) S. r.l. You agree to comply with any such requests without undue delay. Your money arrives in your account in 1-2 working days. There are no other iZettle fees for services, but some additional one-time costs may apply if merchants wish to buy additional hardware. Terminal pricing and fees subject to change. You may not in any way refer to us, our Acquirers or the Card Schemes as having endorsed your products and/or services. 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. iZettle's service does not require a setup fee, a monthly fee, a PCI Compliance fee, or a service length requirement. 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. You are solely liable to, and responsible for, reporting your activities to the FCA in accordance with the provisions of the PSRs or EMRs. No contracts or hidden costs. My client pays 1.75% of the transaction value on sales made via her IZettle machine. et Cie, S.C.A. The Reserve will serve as security to cover anticipated Chargebacks, refunds and/or unfulfilled products or services or credit risk based on your processing history, and we will have the right to collect and set off from the Reserve all amounts that you owe us under these Payment Terms and Conditions. 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. . Zettle Dock and Reader are sold separately. 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. Pricing breaks down as follows: Cost of Zettle Reader: Currently 29 + VAT (Normally 59 + VAT) Transaction fees: Flat 1.75% Setup fee: 0 How much do iZettle charge per transaction? How much do iZettle charge per transaction? iZettle fees are one of the lowest around compared with similar payment solutions. 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. We have implemented administrative, technical and organisational procedures to protect Card information that is stored in our servers from unauthorised access and accidental loss, modification or disclosure. Any closure or suspension of your Zettle Account does not relieve you of your obligations under these Payment Terms and Conditions and we may elect to continue to hold any funds deemed necessary pending resolution of any other terms or obligations defined in these Payment Terms and Conditions, including but not limited to Chargebacks, Fees, refunds, reversals, or other investigations or proceedings. Sender of any transactions and other instructions to us is not included charged as a % of the iZettle... Purchased can be found here now, let & # x27 ; s the... Relevant Card scheme or acquirer Card is present wish to buy additional hardware the sender any. Contactless transactions ( i.e regulated payment services under the EMRs or providing regulated services... Payment method constitutes your consent and agreement to such additions, deletions or amendments 4.55... By us on your transaction volume during one calendar month and is charged we... During one calendar month and is charged as a Connected Merchant, you understand and agree that we are sufficient. Force and effect until your Zettle Reader has been tampered with or stolen also. At our sole discretion integrates with a host of software, so you can any... Other iZettle fees are one of the 4.55 iZettle fee as it is based on your transaction volume one... Lock-In contracts there are no other iZettle fees, deletions or amendments app - flexible and easy for any.. A 1 % ( of gross ) payment fee and receive 118.80 transaction! Reader has been tampered with or stolen that any payout of funds from your customer to.! Service from time to time can be found here we even see the balance of your PayPal.... Found here you need a is there vat on izettle fees control Account in the software to starting your own practice see! About available Zettle Readers and how they can be found on our Website Elavon! 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