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The truth about Coutts Apparently they do let some riff-raff into Coutts nowadays. People "from all walks of life." The horror. Sorry buddy, I just thought it was funny that a bank would be labeled "prestigious."There is a mimimum bank balance at Coutts & Co.
Only ever in England innit (in true cockney style baby!Sorry buddy, I just thought it was funny that a bank would be labeled "prestigious."
Actually my friend ended up paying NM, and I ended up paying him. My father has a Centurion AmEx (which, if you have a decent amount of money with AmEx in a savings, finance, etc... account, they waive the $2500 annual charge), I'll just borrow his card next time. Interesting thing about it though, some places don't think it's a real card and call AmEx to verify its validity, whilst some places treat him much better when he pulls it out to pay. The moral? People are impressed by dull-sheen pieces off plastic that have purchasing power. Jon. In addition, banks like Julius Baer have a minimum regarding their accounts, depending on the account you want, setting limits is nothing new. It really does not matter where you bank, but how much money you actually have, no?Indeed the whole practice of only taking one card and Amex at that over the other is strange. As a retailer I can tell you the following: Generally the way that the cards work is by volume, the more volume you do with their card the less "discount" (the fee usually in a % of the sale) that they deduct. What they lose in % they make up in volume. MC and V for for starters charge a lower (usually about 1+ % plus a capture fee which is a flat rate) amount than AMEX (usually 3.25 or if you have a decent volume 2.95% of the total amount. I would imagine that NM has a deal with AMEX that if their volume is reaches a certain amount and stays that way then the discount is lower and since a large portion of customers pay by AMEX its worth their while to discourage other card use so as to maintain that volume and overall pay a smaller discount. Look. It worked for them by you. You ran upstairs then downstairs then upstairs. sort of like Grover from Sesame street... and you ended up playing by their rules. I imagine that most people do as well. JJF PS" I take any card.
In addition, banks like Julius Baer have a minimum regarding their accounts, depending on the account you want, setting limits is nothing new. It really does not matter where you bank, but how much money you actually have, no?
Another friend of mine is in upper-middle management with NM and he said during the opening weekend of one of their stores they lost about $800,000 in sales because they did not accept VISA or MC. For those counting that equals to a loss of, $400,000 per day, $47,058.82 per hour, $784.31 per minute...sounds like good a good business practice to me. Jon.Quote:
They are, but what if you have MC or Diners? My point is that limiting the use of the two largest credit card interchanges in the world, whether they are domestic or not is just asinine from a business standpoint. Seriously, when is the last time you walked into a store in the UK and they told you they only accept foreign VISA cards? I mean if someone wanted to purchase 10 tons of iron ore, but only wanted to pay in either gold bouillon or diamonds, would that not seem a bit odd (at least from a business standpoint)? Jon.1. Estimate 2. a) But you said international Visa cards WERE accepted. b) Note that Gucci have a Classic banner for women aswell. Also, do note that, yes in Europe trends do change, and also there is a high-end casual scene, unlike in the States. Take LV's clothing, Gucci's jeans, Dior Homme need I realy go on...
Why is my logic basic and silly? Please do not tell me it is because I used a quote from Lewis Carroll ... Jon. Perhaps if I use something from the Bhagavad-Gita instead?Jon, I am not saying that I do not agree with you. I do agree with you. It would certainly be advantgeous for NM to accept more forms of payment, but $800,000 could easily be far less than what AMEX are giving to them. However, I do think that your logic is very basic, and silly. (trying my best not to be insultive here) I personaly hate AMEX, they are idiots, if I dispute a charge (it occurs quite often, as I also overlook the outgoings of the holders of the Corporate Visa cards aswell) they dispute back with mehow DARE they. Coutts on the other hand will pay the disputed charge first, and THEN sort it out with the firm involved. Moreover, the fact of the matter is that I have always been right when it comes to the disputed charges. May I ask, what is your job?
I mean if someone wanted to purchase 10 tons of iron ore, but only wanted to pay in either gold bouillon or diamonds, would that not seem a bit odd (at least from a business standpoint)?
I mean if someone wanted to purchase 10 tons of iron ore, but only wanted to pay in either gold bouillon or diamonds, would that not seem a bit odd (at least from a business standpoint)?Actualy, not the fact of the quote from Carroll entierly, but also:
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