What Forms Of Payments Do You Take?

[permanentvacation]

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.

[LysesKids]

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

[Annalee]

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.....

[NightOwl]

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. :/

[Annalee]

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!

[midaycare]

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.

[renodeb]

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

[Meyou]

I take cash and email money transfers through online banking.

[Unregistered]

I take cash, cheque and e-transfer.

[DaveA]

Cash, Check, or online bill pay.

[Second Home]

Cash or check .

[Kimskiddos]

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.

[snbauser]

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.

[Crazy8]

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.

[permanentvacation]

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?