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tenderhearts 09:29 AM 01-26-2018
I have only accepted checks, cash but are there new things out there that offer different ways to get paid that are free?
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Blackcat31 09:31 AM 01-26-2018
Originally Posted by tenderhearts:
I have only accepted checks, cash but are there new things out there that offer different ways to get paid that are free?
I have parents use e-pay options through their banks.

Today's technology allows for people to send money to anyone instantly via bank apps etc.

Most my families have electronic bill pay options through their online banking site or app. They just need to add you (most of the time its just name, e-mail address and bank not account number that is needed to be shared) and then the "bill" or invoice is paid that way.

Most my families use Zelle. Easy, immediate and free.
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tenderhearts 09:41 AM 01-26-2018
That's good to know, is this the only way you allow payment? and if I did something like this, how do they set it up for every monday since it's not like a certain date like payments due certain dates.
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Blackcat31 09:47 AM 01-26-2018
Originally Posted by tenderhearts:
That's good to know, is this the only way you allow payment? and if I did something like this, how do they set it up for every monday since it's not like a certain date like payments due certain dates.
I accepted all forms of payment until January 1, 2018. Now I ONLY accept electronic payments. It's so much easier and there is tracking abilities that make end of year statements and accounting easier for everyone.

I think you set e-pay options up to be reoccurring (every Monday) or you simply have to initiate a payment each time. Either way, even if a parent has to actually initiate the payment every time it's due I see it no differently than taking the same amount of time and writing a check or going to the ATM.

I provide parents with a calendar highlighting their payment dates for the year so they can hang it on their fridge and easily see payment is due.
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Blackcat31 09:53 AM 01-26-2018
Oh, and I had a family that resisted...just kept saying it was easier for them to write checks. I am sure it was but it wasn't easier for me so I just put my foot down and said here are your options:

Electronic payment via bank OR paper checks.

Of course there is a fee for writing a check though.... $10 additional for each check written. It covered, time and gas to go to the bank.

I used to use a deposit app where I could just take a photo of the check and it would deposit but none of my parents seem to know how to write legibly so the app constantly refused to accept the photo of their check and I got tired of the additional time it took to "fix" the situation.

Now my check writing family "insists" they had no idea how easy using Zelle really was... if they had known it was that easy, they'd have done it much earlier.

What they really meant was "now that you are charging me an extra $40-50 a month, it was motivation enough for me to figure out how to use Zelle"

Either way, I win.
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tenderhearts 11:16 AM 01-26-2018
great thank you. I know that our bank allows us to take a picture of our checks and send it for deposit I thought about looking into that too but I also know that alot of my parents only write checks to me so in a way I feel like I would be helping them out.
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hwichlaz 12:38 PM 01-26-2018
Originally Posted by tenderhearts:
great thank you. I know that our bank allows us to take a picture of our checks and send it for deposit I thought about looking into that too but I also know that alot of my parents only write checks to me so in a way I feel like I would be helping them out.
This is my preferred method. Remote deposit with my iPad. I dislike cash payments because it means driving into town and going to the bank.
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lovemykidstoo 12:46 PM 01-26-2018
Originally Posted by hwichlaz:
This is my preferred method. Remote deposit with my iPad. I dislike cash payments because it means driving into town and going to the bank.
Same here. I have 2 people that pay me cash and I hate it. I tend to poo the money away faster that way. I like the remote deposit. So convenient. I was looking into an app though for a couple that I have that routinely "forget"
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284878 12:59 PM 01-26-2018
Originally Posted by hwichlaz:
This is my preferred method. Remote deposit with my iPad. I dislike cash payments because it means driving into town and going to the bank.
I like cash payments because it means I do not have to drive to the ATM to get cash out. "CASH IS KING". (if you are not familiar with that quote, it is from Dave Ramsey.)

I use Venmo but still accept checks and cash.

Also here is a thread from last week about other payment options.

https://www.daycare.com/forum/showth...hlight=payment
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AmyKidsCo 02:15 PM 01-26-2018
I accept checks, cash, direct deposit and money orders. I can deposit checks from home using my bank's app, which saves me a trip to the bank every Saturday. If only they'd figure out how to do that with cash...
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hwichlaz 06:07 PM 01-26-2018
Originally Posted by 284878:
I like cash payments because it means I do not have to drive to the ATM to get cash out. "CASH IS KING". (if you are not familiar with that quote, it is from Dave Ramsey.)

I use Venmo but still accept checks and cash.

Also here is a thread from last week about other payment options.

https://www.daycare.com/forum/showth...hlight=payment
I use my checking account online register to track income, so I deposit every cent I get from parents. I sometimes, deposit it to immediately withdraw the cash, but it goes in to that account first, so I can write their last name on it.
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HappyEverAfter 07:09 PM 01-26-2018
I take checks, cash and credit cards via square. If they choose to pay with credit card they are charged a $3 fee to cover the fee charged to me by square. Almost all mine pay with checks though twice Iíve had someone bring in cash. I also use the picture app to do deposits so I donít have to go to the bank. And if they pay cash I just keep that on hand for purchases I wouldíve otherwise used my debit card for.
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Josiegirl 04:00 AM 01-27-2018
I wouldn't be able to pay any sort of e-pay way. I only have a flip phone for text and calls. Can you do those things on a laptop? See? I am sooo not a tech person. I know practically nothing about apps or anything. Dinosaur through and through who uses cash 50% of the time, credit cards 25% and checks 25%. I guess I never thought I'd see a day(wow, that makes me feel really old to even say that!!)when cash and checks weren't good enough.
I don't even use an ATM machine, direct deposit or automatic monthly pay. For some stupid reason, I need to see/feel/know where the money is.
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284878 12:00 PM 01-28-2018
Originally Posted by Josiegirl:
I wouldn't be able to pay any sort of e-pay way. I only have a flip phone for text and calls. Can you do those things on a laptop? See? I am sooo not a tech person. I know practically nothing about apps or anything. Dinosaur through and through who uses cash 50% of the time, credit cards 25% and checks 25%. I guess I never thought I'd see a day(wow, that makes me feel really old to even say that!!)when cash and checks weren't good enough.
I don't even use an ATM machine, direct deposit or automatic monthly pay. For some stupid reason, I need to see/feel/know where the money is.
Most of the apps that have been suggested do have a website that you can manage everything from.

Here is the Venmo site, the one I use. https://venmo.com/

Cash or square also has a site and the one that Black cat suggested most likely does too.
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CityGarden 09:41 PM 01-28-2018
I set up all my families for monthly invoices via Brightwheel. It auto sends them a monthly invoice 7 days prior to the funds being due.

Families #1, #2 & #3 pay via bank transfer with Brightwheel

Family #4 pays via check (as they do not trust Zelle)

Family #5 Pays in cash

My thoughts:

On Brightwheel for payments:
This method takes the longest to get funds to my actual account, it's easily 3-5 days but I love the set it up once and not think about it again approach. I do not like Brightwheel's other features (daily notes, etc.) so when coupled with the delayed funds I plan to faze it out.

On checks for payments:
This actually is the quickest way I get funds into my account. I thought I would not like checks but honestly I do not mind them. My bank can be annoying and put holds on checks new to my account but after 1-2 times they often post within the hour. This is the quickest way to get funds into my account. I can deposit quickly via the bank app in the comfort of my home.

Cash Payments:
I do not like cash payments because I then have to a) not spend the cash and b) go deposit it into my account and c) the parent who pays via cash always forgets / needs reminders from me or will pay late.

I'm in the process of updating my contract for next school year and for anyone new that enrolls -- in the new contract all families will have to pay via bank transfer or check.
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DaveA 04:28 AM 01-29-2018
I used to deposit checks via the phone till our bank merged and the new one charges for that. Nearest branch is only a few minutes away, so now I just run drop them off after work. I used to have a DCF that paid through bank transfer, but frankly I prefer to have DCPs give me a check. That way if they set up weekly/ biweekly payments I'm not dealing with refunds for vacation/ closures.

I have one family that pays cash and I love it. 1/3 gets deposited in the emergency fund, 1/3 is my petty cash for the week, and the other third goes in piggy bank till it gets to a certain amount. Then I use it either for stuff for the daycare, my shop, or something impromptu for my wife or kids.
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Tags:electronic payments, payment options
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