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  #1  
Old 11-02-2014, 05:49 PM
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Default What Forms Of Payments Do You Take?

For over 15 years now, I have only taken cash. When I first started, I took personal checks, until one family closed their bank account and moved without telling me they were going to and before I could cash their check!

After that, I took cash only. But my sister, who lives out of state, suggested that I take online payments through Paypal. Her suggesting that made me wonder what types of payments other providers take. And if you have ever had problems with taking anything other than cash.

However, cash isn't always guaranteed either; one time I received a counterfeit $20. I found out it was counterfeit because when I tried to deposit it into the ATM, the machine wouldn't accept it. So I went inside and asked why the machine wouldn't accept that particular $20. The bank teller checked the bill and determined that it was counterfeit! I should have returned the $20 to the customer, but I didn't bother, I just fussed about being out $20.

Oh, and can you tell me any pros or cons of the different forms of payments. I just set up a business Paypal account and found out that it takes 3 - 4 business days for the money to actually get into my bank account from the Paypal account. Now, if I stick with cash only payments, the parent would pay me cash and immediately after work, I can deposit that money into my bank account to use to pay bills with, or whatever; it is available as cash or in my bank THAT DAY. So, I don't know why I would chose to use Paypal which keeps my money from me for 3 - 4 business days.

Last edited by permanentvacation; 11-02-2014 at 05:55 PM. Reason: added question about pros/cons of different forms of payments.
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Old 11-02-2014, 06:12 PM
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First off I keep a special pen that checks for counterfeit bills... always check the cash payments, 2nd I take credit/debit card payments thru square... and yes I have my fees listed as credit pay or cash pay in order to not have to "eat" fees. The cash rate is discounted from credit rates; I have both listed on my website. I DO NOT take checks ever... stopped that 4 years ago
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Old 11-02-2014, 06:15 PM
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Quote:
Originally Posted by permanentvacation View Post
For over 15 years now, I have only taken cash. When I first started, I took personal checks, until one family closed their bank account and moved without telling me they were going to and before I could cash their check!

After that, I took cash only. But my sister, who lives out of state, suggested that I take online payments through Paypal. Her suggesting that made me wonder what types of payments other providers take. And if you have ever had problems with taking anything other than cash.

However, cash isn't always guaranteed either; one time I received a counterfeit $20. I found out it was counterfeit because when I tried to deposit it into the ATM, the machine wouldn't accept it. So I went inside and asked why the machine wouldn't accept that particular $20. The bank teller checked the bill and determined that it was counterfeit! I should have returned the $20 to the customer, but I didn't bother, I just fussed about being out $20.

Oh, and can you tell me any pros or cons of the different forms of payments. I just set up a business Paypal account and found out that it takes 3 - 4 business days for the money to actually get into my bank account from the Paypal account. Now, if I stick with cash only payments, the parent would pay me cash and immediately after work, I can deposit that money into my bank account to use to pay bills with, or whatever; it is available as cash or in my bank THAT DAY. So, I don't know why I would chose to use Paypal which keeps my money from me for 3 - 4 business days.
I only take checks and cash.....have only had 2 bad checks in 22 years.....
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Old 11-02-2014, 06:22 PM
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There's an online service thru Intuit Payment Network that's very inexpensive and faster than PayPal. It's 50 per transaction. BUT if they deposit on Friday, it will be Monday or Tuesday before your money shows up. If they deposit Sunday thru Thursday, it's usually the next day.

I only accept cash and checks. I used Intuit for a long time, but got tired of waiting when those few would deposit on Fridays only. :/
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Old 11-02-2014, 06:29 PM
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There's an online service thru Intuit Payment Network that's very inexpensive and faster than PayPal. It's 50 per transaction. BUT if they deposit on Friday, it will be Monday or Tuesday before your money shows up. If they deposit Sunday thru Thursday, it's usually the next day.

I only accept cash and checks. I used Intuit for a long time, but got tired of waiting when those few would deposit on Fridays only. :/
My clients pay every monday morning for the upcoming week!
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Old 11-02-2014, 06:43 PM
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I take cash, check, and various forms of online payments. Popmoney is one. And I have a dcf that pays through their online bill pay from their bank.

I need to be paid by the first day the dck attends for the week, so of they start on Wednesday, I need payment Wed morning. Online payments have to reach me by then. All of my online payments are sent to me the week prior and I can deposit them whenever I want. I don't have a wait time. I get an email notifying me I have a deposit to accept.
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Old 11-02-2014, 07:57 PM
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I take checks, cash, and I have taken money orders. (only 3" issues" with checks in 10 years) and they were rectified right away! I would not use paypal because of that very issue with it not being available for 3-4 days. I know a lot of providers who only take cash. I have had one family do that electronic payment from there bank but they have to send it in time for it to reach me.
Deb
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Old 11-03-2014, 12:27 AM
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I take cash and email money transfers through online banking.
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Old 11-03-2014, 04:30 AM
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I take cash, cheque and e-transfer.
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Old 11-03-2014, 05:35 AM
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Cash, Check, or online bill pay.
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  #11  
Old 11-03-2014, 05:48 AM
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Cash or check .
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Old 11-03-2014, 05:49 AM
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I am paid monthly by check and occasionally cash. Only had 3 bounced checks in nearly 30 years and happily for me all of them were made right by the client, plus fees of course.

If I had a family that bounced more than one check, I would have gone to a cash only payment from them.
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Old 11-03-2014, 06:15 AM
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I take cash, checks, and online payments through MMK. For the online payments, they are set up where it actually comes out of the parents account on I think Tuesday so that it is in my account on Friday when it is due. The only time it isn't there on a Friday is when there is a holiday during the week. It's too much of a hassle to go in on those weeks and change their set up so I just let it go knowing it won't be there untilt he following Monday. It costs $1 per payment and my parents pay the fee.
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Old 11-03-2014, 06:32 AM
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I take checks or cash. I can offer credit card payments with the square reader if a family needs it but there is a fee attached to that so I don't do it unless they ask.

In 13 years I have rarely had issues with checks bouncing, etc. I know it could be an issue but I generally have a good clientele where if their check bounced they would be crazy embarrassed and would pay any fees for it.

I thought of doing paypal and things like that but I have a system where I take my cash out the day after its deposited so I don't want any delays in all that.
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Old 11-03-2014, 07:31 AM
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Thank you all for your responses. I truly prefer cash. But I have had some requests throughout the years from parents who want to pay by credit card or online. I think I will leave my Paypal account set up for the occasional parent that really feels the need to pay online.

I took personal checks for a few years and only had 1 problem with them - that was when the family moved before I cashed her check. In the area I'm in, I think I would have more problems if I took personal checks again.

However, I am curious about what MMK is.

snbauser,

What is MMK?
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Old 11-03-2014, 07:44 AM
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I take cash or check. I have set up direct transfers into my bank from DCPs that banked at the same bank as me (went in with them, set it up, never gave our account information) so that every payday they could just transfer it over... no different than a cash payment.

I've never had a check bounce and if I did I would be more likely to term the family (I have the option in my contract) than doing away with checks as payment.
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Old 11-03-2014, 07:58 AM
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I only accept cash. I've tried the square etc and just didn't like it.

I don't necessarily have an issue with checks except my bank is 45 minutes away.
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Old 11-03-2014, 08:22 AM
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Don't you have email money transfer in the US? In Canada it's a free, practically instant service offered online by all major banks. It takes 10 seconds to send and I normally receive the payment within an hour of the parent sending it, usually less. It deposits directly into my account as soon as I accept. It's soooo easy and totally free.
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Old 11-03-2014, 08:53 AM
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Quote:
Originally Posted by permanentvacation View Post

What is MMK?
MMK is Minute Menu Kids. It's the software most food programs use.

You can purchase it yourself if your food program does not have it available for you or if you do not belong to a food program.

http://www.minutemenu.com/web/index.html
there is also a Pro version'
http://www.minutemenu.com/web/mmkids.html

I accept cash, check, online bank transfers (directly to my account) or money orders


My ONLY requirement I have is that payments are due by Friday 5PM so which ever method a parent uses to pay the money must be AVAILABLE to me NO LATER than Friday 5PM.

If they do a bank transfer, the transfer must be initiated so that I am able to withdraw cash by Friday 5PM if I need/want to. The availability of the money is the sticking point for me. So even if they initiated the transfer by Friday 5PM and for whatever reason the money is not available to me until Monday, then the payment is considered late.

HTH
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Old 11-03-2014, 09:08 AM
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I used to take checks but now only take cash. I've had quite a few bounce and although the parents apologized, wrote another check AND my bank doesn't charge fees for this, it is very inconvenient. First of all, for some reason it takes a check 3/4 days to clear (at least!!) and by the time it bounces, the bank sends me a letter or email, I get ANOTHER check from the DCF AND then wait for THAT one to clear it could be well over a week for me to get paid.
I now only take cash. I deposit what cash I would need for bills that must be paid via mail (check) or online and then use cash for everything else.
I had my debit card info stolen at Michaels, Harbor Freight AND Home Depot just in the last few years. I no longer use cards for ANYTHING.
ONE of my families uses the same bank as me and I DO allow them to do a direct deposit into my account every week. Other than that, it's cash only!
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Old 11-03-2014, 10:45 AM
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Checks and cash. I've not had a bad check, yet - knock on wood!
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Old 11-03-2014, 11:32 AM
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Checks and cash.
I have had one check bounce.
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  #23  
Old 11-03-2014, 08:37 PM
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ONLY checks. I've never had one bounce, but I've had parents tell me they got fees, because I cashed it too soon. I told them "I'm sorry, but my policy is checks are cashed the same day I receive them". I actually had a former job try to pay from a closed account. I got that money, too. I don't understand how people are getting bounced checks. Recently anyway. Usually the bank will pay the check and the person who wrote it gets a debt. I also think checks offer a paper trail. I wouldn't use paypal. They charge a fee.
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Old 11-03-2014, 10:06 PM
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Quote:
Originally Posted by Unregistered View Post
ONLY checks. I've never had one bounce, but I've had parents tell me they got fees, because I cashed it too soon. I told them "I'm sorry, but my policy is checks are cashed the same day I receive them". I actually had a former job try to pay from a closed account. I got that money, too. I don't understand how people are getting bounced checks. Recently anyway. Usually the bank will pay the check and the person who wrote it gets a debt. I also think checks offer a paper trail. I wouldn't use paypal. They charge a fee.
From my understanding, they only pay the check if the client has overdraft protection of some sort.

My bank is a very small rural bank that only has two branches in the entire state and isn't located in any other state either. I don't even think they offer overdraft protection because even if they did, I wouldn't get it.

If the person doesn't have overdraft protection of any kind, and the money isn't available in the account then you get no money.

With that being said, years ago My daughter was very sick in he hospital and I had several checks and cash to deposit in order to pay my mortgage. Since I've used this bank for so long, I called up the branch manager and explained my auto draft for a grand was scheduled to come out he next day and I just couldn't make it to the bank. As a courtesy he offered to pay the auto draft and hen two days later I deposited the money. He didn't even charge me an overdraft.
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  #25  
Old 11-04-2014, 11:31 AM
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You can get a debit card for your PayPal account which lets you get access to your PayPal balance immediately. You can use it to make purchases or withdraw cash at an ATM. I don't know if there are any fees associated with it, though.
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