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. . You authorise our Acquirers and us to, from time to time, retrieve information about you from, and provide information about you to, third parties, including credit reporting agencies or bureaus and other information providers, and you authorise and instruct such third parties to compile and provide such information to us. Subject to availability. *Additional terms and conditions apply. 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. For VAT purposes, during the term of the swap there is a continuous supply of services and, to the extent that any money changes hands, there is an exempt supply under the VAT Act, Schedule 9 . 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. Pricing & Fees iZettle fees are one of the lowest around compared with similar payment solutions. Choose what suits you best turn your smartphone or tablet into a POS with the Zettle Reader, add accessories and docks, or choose an all-in-one solution like the Zettle Terminal. 10 . 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. Enter the invoice payment details. that you are not deemed to be issuing electronic money under the EMRs or providing regulated payment services under the PSRs. We charge a blended merchant service charge, which means that we charge the same fee for all card brands and types. 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. 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. I note there is no VAT on iZettle charges and others who offer the same service. 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. 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. 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. Also, when I reconcile iZettle payments into the account there doesn't appear to be an option to recognise VAT. 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 deliver such guarantees or other security upon our request. Further, you agree to inform your customers about the expiration date of the issued gift card as set out on the receipt you are liable to provide in accordance with section 11. Can I use iZettle without WIFI? It's suitable for most types of businesses and integrates with a host of software, so you can build what works for you. We may require and/or hold a Reserve for any reason, including if you have a high rate of Chargebacks, refunds, or other indications of performance problems related to your use of the Payment Service. If your annual Card transaction volume exceeds the amount specified by the Card Schemes Rules, you will need to enter into additional agreements directly with our Acquirers (Commercial Entity Agreements). 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. 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. The Payment Service can be used to accept card transactions with most credit, debit and other types of cards (each a Card) bearing the trademarks of the Card Schemes as further specified on our Website. 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. You may use the Payment Service to process card-present transactions (i.e. 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. 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. 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. You agree that you will not provide any false or misleading descriptions of any payment transaction that you submit through the Payment Service and that the descriptions given within itemised transactions will be an accurate and true description of the products and/or services being purchased. For example, a product which qualifies for the VAT margin scheme sells for 260.00 (260.00 charged on our iZettle card machine) The amount actually received in the bank is 255.45 because iZettle takes their fee of 1.75% of every transaction and this is taken before the funds reach our bank account. PayPal (Europe) S. r.l. The Zettle reader makes it easy to start taking card payments and its charges are among the lowest in the industry. 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. Your issuance of gift cards via the Zettle Gift Card Service is subject to VAT. You may not issue gift cards through the Zettle Gift Card Service valid longer than thirty-six (36) months from the date of issuance. You are responsible for, and warrant, to collect, store and process Customer Information in accordance with all applicable laws, rules and regulations and your privacy policy, which includes having the right, and having ensured to have an appropriate lawful basis in place, to be able to collect, store and process the Customer Information obtained through the use of the Invoicing Service. 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. 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? 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. We may remove or add Cards that we accept at any time without prior notice to you. You may access your transaction information by logging into your Zettle Account. 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. A list of the Acquirers we co-operate with for the provisioning of the Payment Service from time to time can be found here. VAT (using VAT Margin Scheme) should be paid on 16.67% of 235.45 (sale price minus purchase price of item). You have the option to subscribe to iZettle E-commerce for 29 + VAT monthly to build an integrated online store. 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). The Zettle Gift Card Service does not include the supply of physical cards or other value certificates. 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. Where VATable deductions are made from payments received, that VAT would be an input! *Additional terms and conditions apply. Price excluding VAT for one (1) Zettle Reader 2 per new business user. The App will prompt you as to what verification is necessary, based on a customers Card. Pricing for Zettle is clear and concise with no hidden fees to worry about either (Image credit: iZettle) Features These Payment Terms and Conditions are effective upon the date you agree to them and will remain in force until terminated by us. 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). You can find the agreements here. VAT Exceptions and Reports; Edit VAT Settings, Codes and Rates; Submit a VAT Return in QuickBooks Online . The nature and extent of consumer protections may differ from those for firms based in the UK. Information about available Zettle Readers and how they can be purchased can be found on our Website. Its suitable for most types of businesses and integrates with a host of software, so you can build what works for you. 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. 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. VAT Help Documents Furthermore, we will not be responsible or liable for any funds that, due to incorrect or incomplete Bank Account information provided by you, have been paid to a bank account that is not held in your name. Card transactions via your online store cost 2.5% each, while . 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. Comparing the cost of SumUp Vs iZettle. iZettle also sells POS . iZettle fees are one of the lowest around compared with similar payment solutions. Create a bill in the name of iZettle at the end of each month for the total charges and pay it using the iZettle account (or do a money out transaction) Price includes a USB cable for charging and wall plug. 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. 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. 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. 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. Your Output VAT on a 100 sale at standard rate is 20 - end of! It's 98 plus VAT for both it and the Zettle Reader 2 bundle. 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. Any agreement regarding custom rates are subject to a specific agreement between the parties. I am 99% certain Zettle (Paypal) transaction fees are exempt from VAT. . You have a sale of 100 + VAT and a 'purchase' (for want of a better word) of 1 + VAT. 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. Internet connection and data usage For Zettle to work, you need to be connected to a 3G, 4G or wifi network. On a sale of 1,000+20% VAT: - your client receives payment for the full 1,200. The Payment Service will enable you to accept and process payments from your customers (i) by Card or their smartphone, tablet or other compatible mobile device enabling them to take contactless smartphone/device transactions through the use of the App installed a) on your smartphone, tablet or other compatible mobile device connected to your Zettle Reader, b) on a compatible mobile device enabling you to take contactless payments directly in the App (the Tap on Phone Service), or c) directly on a Zettle Reader enabling you to take contactless payments, (ii) when your customers pay an invoice online using a Card or any other online payment method made available by us in your jurisdiction (the Invoicing Service), (iii) when your customers pay for your products and/or services through a payment link provided to your customer by email, text message or similar communication tool, and (iv) by redeeming gift cards issued by you using our gift card service (the Zettle Gift Card Service). 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. Common questions in regards to our Terms & Conditions, Sign up to Zettle and connect with your Paypal account, How does the Zettle app work with the reader, Amount reserved in customer's bank account, How to scan a barcode using your smartphone or tablet, Connecting your iPhone or iPad to the internet via your printer, The Zettle Terminal built-in barcode scanner, How to write terms and conditions for your invoices, Changing email address and account settings, How we process contact details of cardholders, Reporting fake or suspicious emails and communication, Recording of telephone calls to Zettle's customer support. When using the Invoicing Service you agree that we are not responsible, for, will have no liability in respect of, and that you are solely responsible for a) issuing, managing and administrating the invoices generated through the use of the Invoicing Service in accordance with all applicable laws, rules and regulations and your privacy policy, b) the accuracy and completeness of your invoices, c) ensuring that your customers pay in accordance with the invoice issued through the use of the Invoicing Service, d) any payment instructions being incorrect, e) funds that, due to you providing incorrect information to us, have been transferred to a bank account that does not belong to you, and f) the recipient of the invoice having such technical installations, firewalls, domains, software etc. The Payment Service is a payment service exempt from VAT. *Youll find the full list of transaction fees for all accepted payment methods on our pricing page. 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. Fill in the form and well get back to you. 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. 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. For more information about our fees, please read here. You authorise and instruct us to receive, hold and disburse funds in accordance with these Payment Terms and Conditions on your behalf. 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. 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). How much do iZettle charge per transaction? You are solely responsible for issuance and management of gift cards. The interchange fees and scheme fees charged by Bambora and Elavon are separately provided in the fee schedule. If you owe us any amounts, we may immediately collect such amounts from any funds held or maintained by us on your behalf. For each sale, there will be a receipt and two payments. Now, let's deposit the payments including the fees. 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. How much do iZettle charge per transaction? - The current account bank feed will be allocated as a transfer ex Zettle control, The beauty of being taught never (ever, or else!) Refunds processed through the Payment Service must be submitted within thirty days of the original transaction. 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. The use of the Payment Service is subject to certain limits relating to daily Card transaction volume as further specified on our Website. . Last update and effective as of: 1 July 2021. Weve 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. We charge per transaction there are no hidden fees or lock-in contracts. iZettle Card Reader 2 59 +VAT: Uses the iZettle Card Reader 59: 49 or 249: 19: 69 or . . You are solely liable to, and responsible for, reporting your activities to the FCA in accordance with the provisions of the PSRs or EMRs. Additionally, I've added these articles that'll help you stay informed on managing your VAT rates in QuickBooks Online. 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. 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). After designating a Bank Account, you authorise and instruct us to initiate payment of funds credited to your Zettle Account to your Bank Account. You are solely responsible for accepting and processing returns of your products or services. 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. If you have any questions or concerns regarding the content of these Payment Terms and Conditions or would like to get a better understanding of how the Payment Service works, please do not hesitate to contact us. When issuing an invoice through the Invoicing Service, your customer will receive an e-mail, which includes the invoice and a link to a website where your customer can pay the invoice online. 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