Payment by credit card

guymayor

guymayor

Branched out member
Location
East US, Earth
In the past, I've spurned solicitations to get enabled to get paid with plastic, but a big insurance company prefers to pay via MasterCard. I prefer not to wait 2+ weeks for $X,XXX.XX so I'm asking: What's the best way to set this up?
 
I landed a government contract and they pay with a credit card at the end of every job. I love that. Otherwise I would have to wait 30 days. Best way is to go to square.com and just get set up though them. All they need is a bank account to transfer the money into once you swipe a card with the free reader card they give you. You can also set it up though quickbooks. I;m not 100% sure how that works.
 
Double check with your bank - some charge incredible fees and a setup charge to be linked to an outside competitor like square, etc.


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I use freshbooks for all my invoicing, estimates, and payments. I think 3% is the norm and I just put it on the bill if that's how the customer wants it done. Most pay will pay it


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Hmmm Thanks Richard, I have not used my Paypal that way yet. Upgrade needed?
With Square, the client just entered in the # on my phone Wed pm and Fri am the ~$3k was in the account. Paid in advance for the appraisal, now all i gotta do is write it up...
 
Nope Guy, no update.. you can send funds from your paypal account just as easily as receiving them. It also lets me prepare a little summary invoice for the client, and they need not be on the site or even in the same city to pay it. I've used it a time or two with out of town clients who wanted an evaluation of a tree. Cases like those, I prefer to collect the fee before I run out to fulfill the assignment.
 
Absolutely; advance payment any time you are selling an opinion is fair policy.

In case they do not like the opinion, they do not have the option of withholding. That gets ugly quick.
 
Jon, right, selling an opinion is consulting imo. I don't get paid in advance for mtc. work, and don't ask to be. The outcome is agreed upon, unlike reporting appraised value or assessed risk.
 
guymayor said:
In the past, I've spurned solicitations to get enabled to get paid with plastic, but a big insurance company prefers to pay via MasterCard. I prefer not to wait 2+ weeks for $X,XXX.XX so I'm asking: What's the best way to set this up?
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I would not recommend Wells Fargo. They have an annoying billing process. The credit card terminal is nice to have in the field, but you have to purchase it through First Data and they charge around $3,000 for the terminal. The fees for each card can change quarterly with little, to no notice. If they give notice it's sneaky...in long contracts. They charge for paper statements, not reaching a minimum, and the contract is $500 to get out of if you want to change processors.

PayPal has been amazing and it's $30 a month if you want to collect payment from people that don't have a paypal account. Not to mention, you can now get a PayPal loan for working capital, equipment, etc. once you have been using them awhile.
 
I am charged 2.5% and $15. mo. for the servic(Square). Is that typical.? Money deposited next day.

Haven't done it yet but if you complete job and go to the door and they want to pay with a card, seems awkward to at that time say..."I will add 2.5% then?
 
treevet said:
I am charged 2.5% and $15. mo. for the servic(Square). Is that typical.? Money deposited next day.

Haven't done it yet but if you complete job and go to the door and they want to pay with a card, seems awkward to at that time say..."I will add 2.5% then?
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I do like oak man says with certain clients others I eat the 2.5% to get the work. I havent been hit with the 15$ a month yet. I don't use it frequently enough possiblly? I thought square was just 2.5% of the purchase regardless , no contract.. At least that was my draw to it.
 
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