Paying by credit card

[Masood]

I ask you how many times on small jobs have you been knocked. If you keep getting trouble in collecting money maybe its for you. As far as 3 am callouts are concerned a customers card or cheque book might not be produced, collect later. Please do the sums with these cash machines

I appreciate your concern, and I do intend to do the sums very very carefully, as well as looking into how long I'd be tied in to a contract, or if it's one of the machines that you buy outright, then how much I'd be paying for data usage, repairs & maintenance, etc.

I haven't actually been knocked as yet (touch wood), but have often needed to send reminders and wait quite some time for payment, when people have in fact asked when I've finished the job "Do you take cards?" If I did, I'd have been paid there and then. There has to be some value attached to not having to send reminder emails chasing payment, not to mention the reduced likelihood of being knocked..

 

[SimonG]

Cash flow would be a benefit for me. I can do two or three bathroom jobs on the trot, each being 6, 7 or 8 days long. My banks only open Mon - Fri 9.30 to 16.30. Sometimes it can be a couple of weeks before I can hit the bank. Missed a few boiler repairs because I don't take cards. As long as the numbers add up I'll definitely be sorting one out.

 

[nicro3]

As your business grows you might well find a machine is the right thing for you. The thing to do is imho is to work out the cost of the machine against the cost of your time collecting monies going to bank etc.

 

[Roger Welton]

I'm with simon gets funds into account quicker, I have definatley been asked more over the last year if I take cards or not.

 

[Guest123]

My contract term is for 1 year or annually. There are no data charges. The sim for the mobile card machine is on O2, but the machine allows free roaming on other networks if a signal is weak. There is a quarterly charge and a small charge per transaction. This is offset against your sales, you include it in the price of each job or (I hate this one) have a 2.5% surcharge for paying by card as many shops do, but I would never do. Immediately after a customer inserts their card and keys their PIN, a credit check is sent to Streamline and you know there and then if they have enough funds to pay you and the payment is made. The machine then prints a receipt with your company name and both you and your customer get a copy each. The whole process takes about 2 minutes.

OR USE THIS METHOD, YOU CHOOSE...
Ask for payment by invoice, go back another time sometimes after several reminders to collect payment. Remember if you're on say £30 an hour as your rate, you're losing this having to chase money when you should be earning it on another job.

A card machine soon pays for itself and eliminates credit problems, chasing payments and cash flow problems. It also looks very professional when a customer sees the machine that you have.

 

[SimonG]

I also think it gives the customer confidence in your business as well, they pay for their groceries by card, fuel by card, it's all part of their daily lives. But that's just me.

 

[SimonG]

A slight adjustment at the estimating stage on the old ohp and it's not costing a penny. That's the way I'll be looking at it.

 

[nicro3]

Whats the cost per q/ter

 

[Guest123]

Whats the cost per q/ter

That's the discount I'm getting from them and will hear back this week. I'll let you know full rates then.

Anyone interested in a mobile credit/debit card machine to take card payments from your customers, PM me and I'll forward your contact details to CardSave to secure our block discount.

 

[DarrenThomas]

Personally I would never expect someone to do a job in my home home then expect them to accept payment by card. There again thats my opinion.

I wouldn't pay on a card if it was a smaller job like the two I've had done recently (rad install and a room skimmed).

However I don't have 3-4k laying around to get a new boiler installed and 5 new rads. I don't even have it in a bank account. Had I not been able to pay on a card then we simply wouldn't be getting it done.

I asked RBS to give us another 5k on our mortgage (we owe £177k on a £245k house) and they said they would be absolutly delighted... as soon as I paid £200 for a new valuation and £300 product fee and then 5.5% interest.

I went to Barclaycard online and in under 10 minutes had a 0% for 23 months Balance Transfer card winging it's way to my door.

Some will no doubt argue that we shouldn't get it done until we have the money in our hands.