The Till School
The terminal · Course · Lesson 05
05

The terminal in your hand has a legal clock on it

Terminal rental is where a cheap headline rate quietly becomes expensive. There are hard limits on how long that contract can hold you.

Module
2
What we count
An initial minimum term for a POS terminal lease or rental canno…
Checked
2 Sep 2026
What we are counting

An initial minimum term for a POS terminal lease or rental cannot be longer than 18 months.

An initial minimum term for a POS terminal lease or rental cannot be longer than 18 months. After it ends, contracts that keep running must roll on terms no longer than 31 calendar days.

18 months
maximum initial minimum term for a POS terminal lease or rental
PSR, policy statement PS22/2, October 2022 · checked 2 Sep 2026
31 days
maximum rolling renewal term once the initial minimum term has expired
PSR, policy statement PS22/2, October 2022 · checked 2 Sep 2026
How it works

Three things to hold on to.

  1. These limits apply to merchant customers of the directed providers with annual card turnover up to 10 million pounds.
  2. Exit and termination fees must be cost based, fully explained and transparent before you sign, not discovered when you leave.
  3. Rental is a separate contract from acquiring. Switching provider while still renting their terminal is the trap this rule exists to close.
Task before opening time

Find the start date of your terminal contract and count 18 months forward. Put that date in the calendar with a reminder two months before it.