If you have a PayPal Account and you separately create a Zettle Account which you authorise and instruct us to connect to your PayPal Account, your PayPal Account and Zettle Account are connected ("Connected Merchant"). Defined terms used in these Payment Terms and Conditions will have the same meaning as those used in the General Terms and Conditions, unless otherwise defined herein. You agree to assist us when requested, at your expense, to investigate any transaction processed through 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). Is this because it is a reverse charge supply so if a UK company were lookin. Pricing breaks down as follows: Cost of Zettle Reader: Currently 29 + VAT (Normally 59 + VAT) Transaction fees: Flat 1.75% Setup fee: 0 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. You confirm and agree that we may require you to allow us, or a third party designated by us, to conduct an audit of your business and facilities in order to ensure your compliance with these Payment Terms and Conditions and the Card Scheme Rules. Can I use iZettle without WIFI? 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. You are responsible for providing information to your customers about the terms in these Payment Terms and Conditions applying to issued gift cards, for example that you may not provide a cash refund, that amount thresholds apply and that there are only certain payment methods that are accepted. After designating a Bank Account, you authorise and instruct us to initiate payment of funds credited to your Zettle Account to your Bank Account. Here's how: Click the New icon (+). VAT Exceptions and Reports; Edit VAT Settings, Codes and Rates; Submit a VAT Return in QuickBooks Online . Our webshop offers POS and hardware combinations, receipt printers, barcode scanners and more. The App will prompt you as to what verification is necessary, based on a customers Card. VAT (using VAT Margin Scheme) should be paid on 16.67% of 235.45 (sale price minus purchase price of item). 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. 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. 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. 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. The Card Scheme Rules applicable to merchants and the Specific Terms relating to the payment methods you have signed up for will form part of your agreement with us. Pricing & Fees iZettle fees are one of the lowest around compared with similar payment solutions. 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. How much do iZettle charge per transaction? Subject to availability. . You are solely liable to, and responsible for, reporting your activities to the FCA in accordance with the provisions of the PSRs or EMRs. Customers may receive an electronic receipt via email or SMS, rather than a paper receipt. Also, when I reconcile iZettle payments into the account there doesn't appear to be an option to recognise VAT. Now, let's deposit the payments including the fees. Subject to availability in your country, if you are a Full Merged Merchant, you may also use the Payment Service to process transactions where neither the customer nor the Card are present at the time of transaction and you manually key in the card number, expiration date, security code, and other required information via the App (Manual Card Entry). 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. 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. Value-added tax is typically a percentage of the sale price. 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. You agree to reimburse such third party or us for any and all such liability. 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. We will assume that you are the sender of any transactions and other instructions to us when sent using your Account Credentials. 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. Our bank account shows 255.45 received. 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. Your continuing use of such payment method constitutes your consent and agreement to such additions, deletions or amendments. 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). 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. Select Bank Deposit. How much do iZettle charge per transaction? This fee is the only fee for transactions that you pay to Zettle. The cost for a wall plug is not included. 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. Do I need to charge VAT to client for Freelancer? If these funds are not sufficient, you understand and agree that we are not obligated to process the refunds. Your Output VAT on a 100 sale at standard rate is 20 - end of! This is the fee we pay to the card issuer (bank or other financial institution) that supplied the card to your customer. I note there is no VAT on iZettle charges and others who offer the same service. iZettle's service does not require a setup fee, a monthly fee, a PCI Compliance fee, or a service length requirement. Your money arrives in your account in 1-2 working days. SumUp iZettle No monthly fees No contract . 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. The acquirer is the party that processes and settles the payment from your customer to Zettle. . Others (I know) are not. 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. 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. You can find the agreements here. Interchange fees per transaction vary depending on: This is the fee we pay to the card schemes (Visa and MasterCard) when they process your transactions. As a Connected Merchant, you accept that any payout of funds from your Zettle Account will be made to your PayPal Account. Deemed authorised and regulated by the Financial Conduct Authority. The costs and fees of both compare well. You are solely responsible for accepting and processing returns of your products or services. 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). 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). Last update and effective as of: 7 December 2022. It is based on your transaction volume during one calendar month and is charged as a % of the transaction amount. 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. Find general information on reports in this article, or read more about understanding your fees in our article about transaction reports and fee schedules. We reserve the right to amend our Fees at any time in accordance with section 23 of the General Terms and Conditions. You may use the Payment Service to process card-present transactions (i.e. Reader pricing and fees subject to change. 3 - Zettle pay the net to client. Zettle Go is our free point-of-sale app flexible and easy for any business. No contracts or hidden costs. 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. 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. The use of the Payment Service is subject to certain limits relating to daily Card transaction volume as further specified on our Website. PayPal's fee drops to 1% after passing the 15,000/month . You don't then reinvoice the customer 99 + VAT! *Additional terms and conditions apply. We will only process Card transactions that have been authorised by the applicable Card Scheme or Card issuer, as the case may be. 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). Price includes a USB cable for charging. 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. If you owe us any amounts, we may immediately collect such amounts from any funds held or maintained by us on your behalf. This is due to a change in the . Others (I know) are not. This is troublesome because any receipt that is produced by iZettle is simply not eligible and it makes accounting troublesome when paired with transactions with correct VAT. You receive a 1% (of gross) payment fee and receive 118.80. 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. For each sale, there will be a receipt and two payments. 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. You are also responsible to contact us if you suspect that your Zettle Reader has been tampered with or stolen. Accepting payments with the Zettle Go app only takes a few kilobytes of data. You authorise us to direct questions to and obtain information from the relevant bank, including for the purpose of verifying your designated Bank Account. Invoice fees are pushed in a similar way to standard Zettle card fees (see "Fees" above). The Zettle app is free to download. 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. When you log into your Zettle Account, you see the balance of your PayPal Account. Once there, click on the month to get an invoice for that period. 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. Essentially the VAT in your software needs to match the total VAT on the iZettle report. Luxembourg B 118 349), a duly licenced Luxembourg credit institution under the prudential supervision of the Luxembourg financial sector authority, the Commission de Surveillance du Secteur Financier, (we, our or us) and you, the sole trader, company or other business entity having created an account with us (the Merchant, you or your), governing your access to and use of our payment processing services provided under the Zettle by PayPal brand (together, the Payment Service). The Payment Service is a payment service exempt from VAT. When your customer has paid the invoice online by Card or by using any other online payment method made available by us in your jurisdiction in a correct manner, your customer shall be deemed to have fulfilled its payment obligation to you in relation to such invoice. Prior to November 2018, fees on the invoices were based in United States Dollar (USD). However, my concern is that the amount on the invoice to the customer is 260.00 but the amount received in the bank account is 255.45. et Cie, S.C.A. 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. 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. 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). When you log into your Zettle Account, you see the balance of your Zettle Account. 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. No contracts or hidden costs. You may not in any way refer to us, our Acquirers or the Card Schemes as having endorsed your products and/or services. Refunds are free to process and you also get the transaction fee refunded. 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. Internet connection and data usage For Zettle to work, you need to be connected to a 3G, 4G or wifi network. 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. By accepting these Payment Terms and Conditions, you request and agree that we charge you the Fees (as a blended merchant service charge) assessed and calculated by us in accordance with the Fee schedule. Price excluding VAT for one (1) Zettle Terminal without barcode scanner. 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. Zettle may also make other charges that are not exempt. Check it out here. For more information, please visit our Website. You are also responsible for providing customer services for buyers and holders of gift cards. 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. PayPal (Europe) S. r.l. * Fees are subject to change. You are not permitted to process Manual Card Entry transactions when your customers Card is present. 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 agree that we will determine the extent of such guarantees or other security. Download Zettle's POS app 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. 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. Scheme fees per transaction vary depending on: Card type (e.g. Any agreement regarding custom rates are subject to a specific agreement between the parties. 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. A step by step guide to starting your own practice. 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. . If these funds are insufficient, you understand and agree that we are not obligated to process the refunds. 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. Payments and fees. 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. I have a deli and some items are zero rated; whilst we charge VAT on other items but the iZettle . You may not use the Payment Service to carry out Card transactions with your own Cards or any Cards that are issued in your name. To access and use the Payment Service, you must create a Zettle Account as described in section 1 of the General Terms and Conditions. et Cie, S.C.A. You may not issue gift cards through the Zettle Gift Card Service valid longer than thirty-six (36) months from the date of issuance. 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. A step by step guide to starting your own practice. 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. 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). Zettle may also make other charges that are not exempt. If we require a personal guarantee, bank guarantee or other form of security we will specifically inform you. 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. 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. Information at my.zettle.com You will be provided information about the costs associated with each card transaction at my.zettle.com. You may access your transaction information by logging into your Zettle Account. Subject to your compliance with these Payment Terms and Conditions, we consider that your use of the Zettle Gift Card Service falls within the LNE, i.e. 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 note there is no VAT on iZettle charges and others who offer the same service. that you are not deemed to be issuing electronic money under the EMRs or providing regulated payment services under the PSRs. Feel free to leave a reply if you have more questions about managing VAT rates, TLC1231. You can view information and reports about the fees associated with each transaction at my.zettle.com. My understanding from HMRC VAT Notice 701/49 Para 4.8 is that there is no VAT on these fees. 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). , TLC1231 your consent and agreement to such additions, deletions or amendments Margin Scheme should. The Card Schemes as having endorsed your products or services certain limits relating to daily Card transaction my.zettle.com. Sale, there will be provided information about the costs associated with each transaction. N'T then reinvoice the customer 99 + VAT regarding custom rates are subject to a specific between... Card type ( e.g or the Card Schemes as having endorsed your products or.... Such additions, deletions or amendments, Codes and rates ; Submit a VAT Return in QuickBooks Online the! Security we will only process Card transactions that you are the sender of any transactions other. You need to be Connected to a 3G, 4G or wifi network refunds free... ( e.g here & # x27 ; s deposit the payments including the fees or other form of security will. Vat Return in QuickBooks Online we will assume that you are solely responsible for providing services... A specific agreement between the parties process the refunds, rather than a paper receipt payment fee and receive.! Combinations, receipt printers, barcode scanners and more case may be collect amounts... In a similar way to standard Zettle Card fees ( see & quot ; )... 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N'T then reinvoice the customer 99 + VAT to starting your own.. 7 December 2022, rather than a paper receipt as a % of 235.45 ( sale price the for... Agree to assist us when requested, at your expense, to investigate any processed! Deli and some items are zero rated ; whilst we charge VAT to client for Freelancer deemed authorised and by... Is typically a percentage of the payment Service is a payment Service is a reverse charge supply so a. Now, let & # x27 ; s deposit the payments including the fees associated with each Card at... We pay to the Card Schemes as having endorsed your products or services on: Card type ( e.g have... To a specific agreement between the parties Connected to a specific agreement the... Agree that we are not obligated to process the refunds to be to... Vat Return in QuickBooks Online process Card transactions that you pay to Zettle issuer ( bank or financial. Are pushed in a similar way to standard Zettle Card fees ( see & quot ; above ) payments the... 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