We are responsible for protecting the security of Card information in our possession. We may remove or add Cards that we accept at any time without prior notice to you. My client has linked Izettle to QuickBooks, but has a problem when it comes to matching the payments. 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. 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. Pay the customer invoices in full to the iZettle account. A step by step guide to starting your own practice. Previous iZettle Price Structure No record of the 4.55 iZettle fee as it is charged before we even see the money from this sale. This invoice is the day's total revenue including the iZettle fee but when it's paid into the account the iZettle fee is subtracted. Zettle may also make other charges that are not exempt. When you log into your Zettle Account, you see the balance of your Zettle Account. that you are not deemed to be issuing electronic money under the EMRs or providing regulated payment services under the PSRs. 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. 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. 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. Full refunds must be for the exact amount of the original transaction including tax and handling charges. 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? There are many options, all of which are affordable as well as boasting a range of security features and abilities. Through the Zettle Account settings, you may select the frequency of the payout of funds to your Designated Account. 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? Information at my.zettle.com You will be provided information about the costs associated with each card transaction at my.zettle.com. I'll be here to answer them . VAT. This includes a transaction reference, the costs charged to you as a Zettle user and the amount of the transaction in the currency of the Zettle account. Any invoice issued through the use of the Invoicing Service may not exceed such limits that we apply from time to time and as further specified on our Website. Here's how: Click the New icon (+). 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. 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. Zettle uses Bambora and Elavon as its acquirers in the EU. . We assume no liability to verify or otherwise control gift cards issued by you to customers, and you are solely responsible for providing accurate descriptions, information and content relating to gift cards issued by you under the Zettle Gift Card Service. As a Fully Merged Merchant you authorise and instruct us to initiate payment of all funds credited to your Zettle Account to your PayPal Account. Instead, there are flat transaction fees of 1.75% for card transactions and 2.5% for any invoice or payment link transactions. Either way, you would never reduce your sales figures to accommodate VATable deductions. 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. Deemed authorised and regulated by the Financial Conduct Authority. If there are insufficient funds to cover your liability, you agree to reimburse us immediately on demand through other means. iZettle's fees range from 2.75 percent for monthly card turnovers below 2,015 down to just 1 percent for monthly card turnovers above 39,693. Essentially the VAT in your software needs to match the total VAT on the iZettle report. Payments and fees. If youre new to Zettle and your business takes over 10,000 in card payments every month, all year round, you might be interested in our custom rate plans. . Our webshop offers POS and hardware combinations, receipt printers, barcode scanners and more. As at the date of your acceptance of these Payment Terms and Conditions, you will fall under one of the categories of Merchants set out in subsections (a) to (c) below. 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. Is this because it is a reverse charge supply so if a UK company were lookin. Here's how: Open the invoice. There are specific Fees associated with processing Manual Card Entry transactions, as set forth on the PayPal.com Website. You agree to comply with any such requests without undue delay. No contracts or hidden costs. Youll be charged a fixed transaction fee, regardless of which card you process with your Zettle Reader or Terminal. You can view information and reports about the fees associated with each transaction at my.zettle.com. Once the funds hit your bank account (after charges) treat those as a transfer from the iZettle account. 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 agree that we will determine the extent of such guarantees or other security. Last update and effective as of: 7 December 2022. Others (I know) are not. The Zettle Gift Card Service does not include the supply of physical cards or other value certificates. PayPal (Europe) S. r.l. 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. I'm still confused by the rules with regard to VAT on IZettle fees. 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). 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. We reserve the right to amend our Fees at any time in accordance with section 23 of the General Terms and Conditions. Subject to sections 16 and 17 of the General Terms and Conditions, we are further liable to ensure that funds credited to your Zettle Account are paid out to your Designated Account in accordance with section 14, provided that we have received such funds from the relevant Card Scheme, Acquirer or third party financial institution, as the case may be, on the Client Account. 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). 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. * Fees are subject to change. Offering the essentials you need to start selling, the Zettle app turns your iOS or Android smartphone or tablet into a point-of-sale system that facilitates card and contactless, cash and other payment methods. In addition to what is stated in section 22 of the General Terms and Conditions, we may terminate these Payment Terms and Conditions or your use of all or part of the Payment Services or suspend or close your Zettle Account or PayPal Account, without prior notice to you: a) upon request of a Card Scheme, an Acquirer, or a service provider, b) if our agreement with an Acquirer or Card Scheme expires or terminates for any reason, c) if we are de-registered as a payment facilitator by a Card Scheme, an Acquirer, or a service provider, d) if in our reasonable opinion, your activities or actions are damaging to, or may damage, our image or reputation or the image or reputation of a Card Scheme, an Acquirer, or service provider, e) if you have signed up for the Payment Service as a company or other business entity and there is a change of control of such company or other business entity, f) if owners or other persons associated with you appear on European or American sanction lists (such as OFACs SDN list and the EUs list of economic sanctions or list of terrorists), or g) if your Designated Account is your PayPal Account and your PayPal Account is closed down, either by us or by you. Price includes a USB cable for charging and wall plug. My client pays 1.75% of the transaction value on sales made via her IZettle machine. These terms and conditions, including the terms, policies, guidelines and instructions referred to herein ("Zettle Pro Terms") constitute a legal agreement between iZettle Merchant Services AB, a limited liability company, registered in Sweden under company number 556812-2674, with our registered office at . 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. The use of the Payment Service is subject to certain limits relating to daily Card transaction volume as further specified on our Website. As a Connected Merchant, you accept that any payout of funds from your Zettle Account will be made to your PayPal Account. Ordinary card reader price 59 excl. Enter the invoice payment details. How much do iZettle charge per transaction? We will assume that you are the sender of any transactions and other instructions to us when sent using your Account Credentials. I am 99% certain Zettle (Paypal) transaction fees are exempt from VAT. You are not permitted to process Manual Card Entry transactions when your customers Card is present. 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. We charge per transaction there are no hidden fees or lock-in contracts. You may not in any way refer to us, our Acquirers or the Card Schemes as having endorsed your products and/or services. 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. Our bank account shows 255.45 received. you may not submit any transaction for processing which is originating from sales or activities offered by other parties, g) submit any transaction for processing that you know or should have known to be fraudulent or not authorised by the customer, h) act as a payment intermediary or aggregator or otherwise resell the Payment Service, i) submit for processing any transaction representing the refinancing of an existing obligation of a customer, j) require any customer to waive its right to dispute a transaction, k) require any customer to disclose his/her PIN at any point during a Card transaction, l) print data referencing any customer's PIN or card number on any receipt, or m) process one purchase of goods and/or services as several payment transactions. Subject to sections 16 and 17 of the General Terms and Conditions, we are liable to ensure that payment transactions initiated through the Payment Service are properly submitted to the end customers payment service provider, through the applicable Card Scheme, Acquirer, or other intermediary service providers, and that payment transactions carried out through the Payment Service are executed properly, provided that: a) the transaction has been authorised by the end customer, b) the transaction complies with these Payment Terms and Conditions, and c) you have complied with your obligations under these Payment Terms and Conditions. Scheme fees per transaction vary depending on: Card type (e.g. Further information on the Card Scheme Rules and the Specific Terms can be found here. You undertake to inform your customers of the possibility to pay by Card by displaying signage for all Card options provided by us as possible payment methods in your physical store or online. 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. 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. 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 (Europe) S. r.l. 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. VAT Help Documents Zettle Go is our free point-of-sale app - flexible and easy for any business. Reader pricing and fees subject to change. Once there, click on the month to get an invoice for that period. 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 will then automatically pay out all your funds in accordance with the selected intervals. In addition to the fees set out in the fee schedule, we also pay fees to other parties involved in the payment flow. 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. Click the Receive payment button. This fee is the only fee for transactions that you pay to Zettle. 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). For the purposes of these Payment Terms and Conditions, PayPal Account shall mean the PayPal business account opened pursuant to the PayPal User Agreement. Are all the sales on that report Vatable? The Zettle app is free to download. You may not provide a cash refund on gift cards except to the extent required by law. Stripping it down you sell an items to a customer for 100 + VAT. The E-commerce subscription costs 29 + VAT a month, which includes all ecommerce tools, online payment system and integration with other iZettle tools.. Apart from the monthly fee, you only pay a 2.5% transaction fee for all online Mastercard, Visa and Amex transactions. If you owe us any amounts, we may immediately collect such amounts from any funds held or maintained by us on your behalf. 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. I note there is no VAT on iZettle charges and others who offer the same service. Prior to November 2018, fees on the invoices were based in United States Dollar (USD). You may use the Payment Service to process card-present transactions (i.e. iZettle fees are one of the lowest around compared with similar payment solutions. If a customers Card includes an electronic chip, you must always prioritise obtaining chip and PIN authorisation before obtaining a signature. All refunds and adjustments related to Card transactions must be made to the customers Card. If your designated Bank Account details are incorrect or incomplete or if we for any reason cannot verify that the bank account is held in your name, we may de-connect the Bank Account from your Zettle Account, and you confirm and agree that we will not be under any obligation to pay any funds to you until such time you have provided correct and complete Bank Account information and we, as applicable, have been able to verify that you are the holder of the Bank Account. 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. You may access your transaction information by logging into your Zettle Account. PayPal's fee drops to 1% after passing the 15,000/month . You agree, upon our request, to take all reasonable measures to assist us in verifying your Bank Account. You use and access the Payment Service and your Zettle Account with your PayPal Account login credentials. Wall plugs are not currently offered for sale by Zettle. 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. You authorise and instruct us to receive, hold and disburse funds in accordance with these Payment Terms and Conditions on your behalf. To enable the use of Manual Card Entry, you must follow the instructions and comply with any requirements, in each case as determined by us, an Acquirer, or a Card Scheme. 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. 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. A step by step guide to starting your own practice. 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 . In addition to the fees set out in the fee schedule, we also pay fees to other parties involved in the payment flow. The nature and extent of consumer protections may differ from those for firms based in the UK. A single payment is simultaneously pushed for the full payment of the bill, representing the transfer of money out of the liquid account to pay the fees. 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). If the IZettle fees are not VATable then should I make an adjutment to sales via a journal Debit IZettle Fees 175 Credit VAT Output 29.16 Credit Sales 145.84 to account for the VAT. Any liability for the use or misuse of your gift cards, and any third party claims arising from or relating to your gift cards, are your sole responsibility. (R.C.S. If you are a Fully Merged Merchant, for approved refunds, we will deduct the refund amount (including any applicable fees) from funds owed to you from processing of other transactions, or funds on your PayPal Account. Select Bank Deposit. However, the laws and regulations in the UK may change at any time and you are at any given time solely responsible to make an assessment of applicable laws and regulations and determine whether or not your use of the Zettle Gift Card Service requires authorisation from the FCA or not. 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. This section 16 applies only if you are a Zettle-only Merchant or Connected Merchant as described in section 1 above. 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). 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. Also, when I reconcile iZettle payments into the account there doesn't appear to be an option to recognise VAT. Zettle Go is our free point-of-sale app flexible and easy for any business. If iZettle pay the client net of their fees and IZettles fees are exempt from VAT then my understanding would be that a VAT adjustment would be needed for the difference between gross sales (before IZettle take their 1.75%) and the net amount IZettle pay the client. We will start to charge VAT on all of our fees from 1 September 2020 regardless of your VAT status. 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. You are also responsible for providing customer services for buyers and holders of gift cards. If we require a personal guarantee, bank guarantee or other form of security we will specifically inform you. Payout of funds to your Designated Account is subject to certain limits as further specified on our Website. 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. Pricing breaks down as follows: Cost of Zettle Reader: Currently 29 + VAT (Normally 59 + VAT) Transaction fees: Flat 1.75% Setup fee: 0 When you log into your Zettle Account, you see the balance of your PayPal Account. 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. iZettle's service does not require a setup fee, a monthly fee, a PCI Compliance fee, or a service length requirement. If you usually make over 10,000 a month, iZettle can go lower than 1.75%, but the percentage will be customised to your situation so we can only make assumptions about those fees. Terminal Printer & Dock and Terminal with barcode scanner are sold separately. For any payment transaction we determine may result in a Chargeback, we have the right to withhold the potential amount of the Chargeback in a reserve. 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. I note there is no VAT on iZettle charges and others who offer the same service. The App will prompt you as to what verification is necessary, based on a customers Card. 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. 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. You have a sale of 100 + VAT and a 'purchase' (for want of a better word) of 1 + VAT. It's 98 plus VAT for both it and the Zettle Reader 2 bundle. To use the Payment Service for sales from a physical sales location, you must download and install the App and, unless you are solely using the Tap on Phone Service, obtain one of our compatible card reader devices (Zettle Reader). 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. When you make over 6,000 in card payments, PayPal's transaction fee drops to 1.50%, beating iZettle. 10 . The acquirer is the party that processes and settles the payment from your customer to Zettle. You undertake to: a) maintain a fair return, cancellation or adjustment policy, b) disclose your return or cancellation policy to customers at the time of purchase, c) not give cash refunds to a customer in connection with a Card transaction, unless required by law, and d) not accept cash or any other item of value for preparing a Card transaction refund. Refunds processed through the Payment Service must be submitted within thirty days of the original transaction. SumUp iZettle No monthly fees No contract . However the amount can't be matched from the bank, as the amount from the bank is the net figure. By creating a Zettle Account (defined below) you accept and agree to comply with these Payment Terms and Conditions. A bill is pushed with a single line item with the expense account set to the Invoice fees account. You may only accept payment for gift cards through such payment methods offered by us from time to time in your jurisdiction, such as Card payments or cash. Do I need to charge VAT to client for Freelancer? This includes a transaction reference, the costs charged to you as a Zettle user (including the split between the interchange fee and the Zettle fee) and the amount of the transaction in the currency of the Zettle account.Information in the fee schedule There are three types of fees set out in the fee schedule. 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