Accepting Credit/Debit Cards

[EAP]

does anyone do this? can you tell me what system you use and the cost?

[canadiancare]

I don't think I would offer childcare on credit.

[wahmof3]

I offer a credit card option using Square.

The service is free, but they charge a 2.75% fee for each use.

Since I offer it as an option I charge the fee to the client.

The card reader plugs into my iPhone.

It does take a couple of days to be deposited into my account.

I have only used it a handful of times. It is a wonderful option to offer.

[satcook]

I don't think I would offer childcare on credit.

WE have a number of parents who pay with credit cards. A lot of them do it for the points and pay the balance in full each month. Some of the cards we run are debit cards so it comes straight out of their account.

Most of the other parents do not tell me whether they pay the bill off or not. They just give me a card and I charge it weekly. It is not my problem if they let a balance accrue on their credit card. I'm just worried about getting the money I am owed. With over 80 families i love the ones that pay automatically!!

Lori

[blandino]

I offer a credit card option using Square.

The service is free, but they charge a 2.75% fee for each use.

Since I offer it as an option I charge the fee to the client.

The card reader plugs into my iPhone.

It does take a couple of days to be deposited into my account.

I have only used it a handful of times. It is a wonderful option to offer.

We use it too, and charge the fee to the client. It is also nice because they can call in a payment, and you can manually enter it (the fee is 3.5% for manually entered) but it is a no excuse option for those who happen to be gone on a day payment is due.

[JenNJ]

I use Square as well. There is a $7 fee to my clients for using it. It has come in handy a few times. Once when a family was moving and lost the check cards and checkbook. They only had an emergency credit card. When families go on vacation, I email a bill and they pay by Square vs. leaving post dated checks. It also solves the "forgot the checkbook" problem. Everyone has a credit or debit card.

[canadiancare]

WE have a number of parents who pay with credit cards. A lot of them do it for the points and pay the balance in full each month. Some of the cards we run are debit cards so it comes straight out of their account.

Most of the other parents do not tell me whether they pay the bill off or not. They just give me a card and I charge it weekly. It is not my problem if they let a balance accrue on their credit card. I'm just worried about getting the money I am owed. With over 80 families i love the ones that pay automatically!!

Lori

your choice. I didn't judge- I just replied that I wouldn't offer it.

[itlw8]

2 of my families buy EVERYTHING in the card and pay off at the end of the month. They rack up a lot of points. but if they have to pay extra for the service then not sure it would really add to their points ???????I might look into it.

[Springdaze]

Ive thought about atleast offering it, since Square is free if not used. I certainly wouldnt pay the fee though, Id def pass it to the parent. How would you do that, though, just instead of putting in tuition, just enter it and the fee? Of course tell the parent

[wahmof3]

Ive thought about atleast offering it, since Square is free if not used. I certainly wouldnt pay the fee though, Id def pass it to the parent. How would you do that, though, just instead of putting in tuition, just enter it and the fee? Of course tell the parent

I multiply the 2.75% by the fee and add the result (I have it written in where I store my card reader).

I think some just say its $5 additional or whatever covers the 2.75%

I LOVE having the option! I have what looks like a credit card machine in my entry way. This machine is what my state assistance clients use to scan their kids in and out of child care (no paperwork). I have had SEVERAL people ask to use it to pay me and in the past I have told them- sorry its not for credit card payments. This is why I looked into credit card options.

[EAP]

Are the parents OK with paying the fee?

[wahmof3]

Are the parents OK with paying the fee?

I have one parent who is fine with it and loves the option of having it. She does however pay mostly by check.

My other families pay by check.

As long as you're clear about it, I don't think it's a big deal

[MarinaVanessa]

I offer a credit card option using Square.

The service is free, but they charge a 2.75% fee for each use.

Since I offer it as an option I charge the fee to the client.

The card reader plugs into my iPhone.

It does take a couple of days to be deposited into my account.

I have only used it a handful of times. It is a wonderful option to offer.

I use this also. It takes both credit and debit cards. It's not my job to parent the parent's credit card responsibilities so I accept payment however they want to pay me. If they get into debt because of misuse of credit cards it's not my responsibility to monitor that. The clients that have used it all used debit cards anyway.

[Meeko]

I have been looking into Square and others plans that are similar. They all mention about holding funds in a reserve. Do you all get ALL your money EVERY time? Or do they hold some back for a while?

[MarinaVanessa]

I have been looking into Square and others plans that are similar. They all mention about holding funds in a reserve. Do you all get ALL your money EVERY time? Or do they hold some back for a while?

I've always gotten my funds in full (minus the fee) and it takes as long as ChildCarePay does for funds to clear into my account (5 DAYS).