School me on Minute Menu please

[Baby Beluga]

My parents still pay in cash - and although I love cash I think it would be very convenient for them to have the ability to pay online if they wanted.

I looked into paypal and square and would pay just under 1K a year in fees. Ouch!

I looked in MM, and it seems pretty straightforward. $70 per year and $1 per transaction? My questions are:

*Do you pay the $1/per transaction fee or do your parents?

* how long does it take for the money to be deposited into your account? My parents pay on Friday for the following week. If they were to pay though MM would they have to pay earlier then Friday?

[NillaWafers]

I have to have parents pay Tuesday to get the money in my account by Monday. I pay the one dollar fee which is tax deductible and shows up on your expenses. I really love not having to beg or ask to be paid!

[Baby Beluga]

I have to have parents pay Tuesday to get the money in my account by Monday. I pay the one dollar fee which is tax deductible and shows up on your expenses. I really love not having to beg or ask to be paid!

Oh wow, so they are an entire week ahead? About 5 business days?

[snbauser]

Oh wow, so they are an entire week ahead? About 5 business days?

Yes. When I had parents pay that way, their payments was processed on Monday, came out of their account on Tuesday and was in my account on Friday. BUT if there was a holiday in there, I wouldn't get my money until the following Monday. It has it's good and bad parts.

[Blackcat31]

My parents still pay in cash - and although I love cash I think it would be very convenient for them to have the ability to pay online if they wanted.

I looked into paypal and square and would pay just under 1K a year in fees. Ouch!

I looked in MM, and it seems pretty straightforward. $70 per year and $1 per transaction? My questions are:

*Do you pay the $1/per transaction fee or do your parents?

* how long does it take for the money to be deposited into your account? My parents pay on Friday for the following week. If they were to pay though MM would they have to pay earlier then Friday?

Do any of your parents bank at the same bank as you?

Most mine do and they just do internal account to account transfers. Works awesome and is immediate so my money is there right away. We also have two banks in the area that do bank to bank transfers so parents pay from their account at their bank to mine in a different bank.

These transfers are free too so no service charges.

I'd call your area bank and see if that is an option.

[spedmommy4]

Oh wow, so they are an entire week ahead? About 5 business days?

Yes. It's ridiculous since the money is drafted from their account the same day, or so I'm told. I don't have my parents pay any further ahead using minute menu so I get paid on Fridays but I am used to monthly pay days. (I worked for the school district) I don't pay the $1 fee and my parents have never complained. Some of my parents even switched to biweekly payments to save $2, which I don't think they would have done if I was paying the fee.