Crazy8 06:38 AM 03-29-2016
Can you share any online payment methods you have used and any fees involved and how long it takes to actually get cash out from it.
My biggest issue in taking online payments is access to the cash. If I get a check on Friday I deposit it thru my phone and on Saturday I can go to the bank and take the cash out. I am a Dave Ramsey envelope system user so I pretty much take the whole thing out in cash.
Is there any online method where I can have access to the cash in 24-48 hrs.??
I have paypal and the square card reader - I use paypal for other things but not daycare and I have used the square to accept credit cards a few times years ago but the fees on that are too high. I'd lose over $20/week if everyone used it.
jenboo 06:59 AM 03-29-2016
I just found out about brighwheel. Online payments are free but it takes 5 days for the money to be in your account.
Nurse Jackie 07:12 AM 03-29-2016
One of my parents pays me through chase and it's available immediately plus there's no fees
organicdclady 08:44 AM 03-29-2016
I use the cash app by square for personal use. It is free to use debit cards and the fee to use a credit card is charged to the card holder-not you. Money is instantly deposited directly into your bank account. I LOVE it!
Blackcat31 09:43 AM 03-29-2016
My parents pay me via their banks.
If they bank at the same bank as I do, they just do an internal transfer. Money posts to my account immediately.
If they bank at a different bank, most offer the option of bill pay and they can pay me via a bank to bank transfer. Money is posted to my account within 24 hours of the transfer being initiated.
spedmommy4 01:08 AM 03-30-2016
I use Minute menu kids childcare pay system. The parents pay the fees. They pay Monday and it deposits on Friday. Another provider I know has it in her contract that parents pay 5 business days before the payment is due if they use it.
Stripe payments through Kinderlime is an option I recently started offering. This is also free for providers. Parents pay the fees but none of my parents have used it yet so I am not certain how long it takes them to deposit the funds. I think there online FAQs said 2 or 3 days
Crazy8 10:12 AM 03-30-2016
Originally Posted by organicdclady:
I use the cash app by square for personal use. It is free to use debit cards and the fee to use a credit card is charged to the card holder-not you. Money is instantly deposited directly into your bank account. I LOVE it!
Thanks, I signed up for that a while ago but have never used it. I figured it took a few days to be deposited like the square cc reader, paypal cash, etc.
Crazy8 10:24 AM 03-30-2016
Originally Posted by Blackcat31:
My parents pay me via their banks.
If they bank at the same bank as I do, they just do an internal transfer. Money posts to my account immediately.
If they bank at a different bank, most offer the option of bill pay and they can pay me via a bank to bank transfer. Money is posted to my account within 24 hours of the transfer being initiated.
I know none use my bank, but wonder if they can do this. Do they have to initiate the payment each week and can it be different amounts?
Years ago I had one parent do the bank payments and their bank mailed a check to me every 2 weeks - it never showed up on time, etc. but that was back before we did so much with online banking, mobile banking, etc.
Meeko 10:30 AM 03-30-2016
Most of my parents use Venmo. They pay me on their phones. No fees at all. I get the money in my bank the next day.
Blackcat31 10:31 AM 03-30-2016
Originally Posted by Crazy8:
I know none use my bank, but wonder if they can do this. Do they have to initiate the payment each week and can it be different amounts?
Years ago I had one parent do the bank payments and their bank mailed a check to me every 2 weeks - it never showed up on time, etc. but that was back before we did so much with online banking, mobile banking, etc.
Our local home town bank requires parent initiation of payment every time, but the larger banks (USBank etc) seem to be the ones that offer automated payments that occur weekly and without having to initiate the payment each time.
Crazy8 01:35 PM 03-30-2016
looking on my bank's (BofA) website today I notice I can transfer money to anyone via email address or phone number now, do not even need their bank account info. I wonder if they all do that now??