Credit Cards

[MMustola]

I have accepted credit cards for many years. Probably about 10% of my customers pay with a credit card. I don't think I would have lost any business if I did not accept them but many customers are excited that I do.

Some customers like to use their cards because of reward programs and many young buyers live by their debit cards. Also, when a customer is out of town and won't be at the inspection it's nice to get the payment over the phone at the time the inspection is scheduled.

Over all the small fee (about 2.5%) of the transaction is worth paying because of the positive feedback I get from customers

www.ValueCheckinspections.com

[davidlord]

Ive accepted credit cards from day one. I say make it easy for folks to pay you. I have alot of clients that I never see so a credit card means I get paid. If a small transaction fee is gumming up the works I need to either charge more or do something else. I personally don't own a credit card but use a debit card daily.

[mgbinspect]

If a small transaction fee is gumming up the works I need to either charge more or do something else.

Agreed, yet, I HATED paying a monthly fee for the priveledge to process cards. That just seemed a dumb waste of money. I'm much happier paying a larger fee per transaction.

It's kinday like all those lead generating web sites. I tell them all the same thing. "I won't pay for a lead, but I'm happy to pay you for a job. If you ever set up a system like that, call me."

I personally don't own a credit card but use a debit card daily.

Yep, I broke all those chains years ago. Credit is the only remaining legal form of slavery in America.

[Terence McCann]

I have been using Squareup for several months now. Works real well (great WOW factor from clients) when I started the charge was 2.75% plus .15 for each swiped transaction and 3.00% if the card # was keyed in. They recently dropped the .15 fee for each transaction and I believe the current limit is $1,000.00 per 7 days. I went over that amount one week last month so they end up holding the excess for 30 days. I sent an email about increasing the limit and seems that is possible, but just haven't gotten around to getting the process started yet. I don't push C/C payment, but it seems more and more folks don't carry a check book anymore.

I read the part about holding the excess over 1,000.00 which turns me off a bit. While it doesn't happen often, that I collect 1,000.00 in 7 days via cc, it has happened a few times in the past.

[caryseidner]

I have been using Squareup for several months now. Works real well (great WOW factor from clients) when I started the charge was 2.75% plus .15 for each swiped transaction and 3.00% if the card # was keyed in. They recently dropped the .15 fee for each transaction and I believe the current limit is $1,000.00 per 7 days. I went over that amount one week last month so they end up holding the excess for 30 days. I sent an email about increasing the limit and seems that is possible, but just haven't gotten around to getting the process started yet. I don't push C/C payment, but it seems more and more folks don't carry a check book anymore.

I read that tht part about holding the excess over 1,000.00 which turns me off a bit. While it doesn't happen often, that I collect 1,000.00 in 7 days via cc, it has happened a few times in the past.

Yea, apparently they do that when you're a new customer, but they say they adjust that amount after you have some processing history with them.

[Terence McCann]

Tnxs Cary.

I'll give them a call and discuss it. It's a lot cheaper than who I've been using.

I've been accepting credit cards since 2002. On numerous occasions the client had forgotten the checkbook but still carries plastic. I'm a firm believer in 0 receivables.

[Chad Fabry]

I'll carry some receivables. Many of my clients are decidedly uh, rich. I've found that people that have money often don't carry money. I'm happy to send them an invoice. Over 2% of the economy goes to credit card companies and money lenders in fees for what's supposed to be short term debt. Look up the etymology of mortgage- the mort part means death.

I almost always give a vendor the opportunity to offer me the credit card fee as a discount. I'd love to have two percent off every transaction in my favor.

[kurt]

Same here. Rich folks are decidedly casual. I invoice, sometimes I have to send a couple invoices.

It sucks, but several of them have keeping me happy for years, that's how they do business, so I accommodate them.

[mgbinspect]

When it comes to working with the public, there's truly no group that is more pleasant to work with than the "Old Money" gang. They're great. When we used to work out in Middleburg, VA, building for the rich and famous I used to jokingly tell folks, "See that guy over there in the coveralls and gum boots getting into that thirty year old Mercedes Benz? Now, he's rich - so rich he doesn't even really know how rich. He has to ask some underling." That's the way it was out there.

One time we build a $10,000.00 brick serpentine wall for one of our regulars, only to have them call us the next week to announce, "OK, the garden party is over. Can you come take it down now?"

[Marc]

Our framing team in Atlanta once spent 8 months framing a 20,000 SF mansion that had a total cost of $6 mil. Throughout the construction, an old farmer in beat up coveralls, mud boots and a big wad of tabacco in his mouth would walk around with a shovel in his hands occasionally pickup up some small debris here and there but pretty much just watching us.

I had been on that job for months before someone told me that he was the owner of this new house. The driveway was nearly a mile long with a river in the back yard. 2X12 studs all the way from basement to 2nd story. The 'her' closet was about the size of my mobile home. Tennis court and gym in basement. Elevator in garage allowed for antique cars to be stored in the basement.

Marc

[Scottpat]

Tnxs Cary.

I'll give them a call and discuss it. It's a lot cheaper than who I've been using.

I've been accepting credit cards since 2002. On numerous occasions the client had forgotten the checkbook but still carries plastic. I'm a firm believer in 0 receivables.

All communication is through email with Square, this is how they say the keep the cost lower than anyone else.

My reader came yesterday, I'm just waiting for them to verify the bank account. If it works like I think it will, I will be dumping my Costco processing service.

[Charlie R]

Cash or personal check only, no problems, no lost inspections.

[Inspectorjoe]

Charlie:

Just to play devil's advocate ....... you can't possibly know that you've never lost any inspections because of that policy. You state on your web site that you don't take credit cards. If a buyer on your site read that, but knew he wanted to pay with a card, he would just move on to someone else. How would you ever know that happened?

[mgbinspect]

Charlie:

Just to play devil's advocate ....... you can't possibly know that you've never lost any inspections because of that policy. You state on your web site that you don't take credit cards. If a buyer on your site read that, but knew he wanted to pay with a card, he would just move on to someone else. How would you ever know that happened?

That's true. Probably ten percent, or more, of the time I agree to receive payment by credit card, it's kids who are on a mission to find someone willing. I don't think it's because they don't have the money. It seems they're just anxious about their bank account balance and cash on hand - supersticious that something will go wrong, at the last minute, to screw up the loan approval process. That seems to be the case with those that pay cash, as well - fright.

You probably do miss business, and just don't realize it. I really dislike processing cards, but if it's that or loose an inspection, I'm all about cards. [:-graduat

[Scottpat]

Well I'm now verified as of 8 AM this morning! Wahoo..... I took my first CC at my morning inspection and it was easy. My client and their agent were awestruck or they were just being nice! I would say that about 40% of my clients now pay with a CC/Debit and about two years ago I would say it was around 10%. Folks just do not write checks like they use to do.

[Bain]

Square Up is beginning to make the $30.00 per month--plus fees--I give PayPal every month look like a sap's play. Why does Square Up limit transactions, I wonder? Some weeks I don't process any credit cards. But other weeks, I may get paid with credit cards five or six times.

I don't want to wait thirty days for the money to be transferred into my bank account. And of course who wants to keep track of receivables to make certain Square Up doesn't make a mistake?

Does anyone know of similar companies that DON'T have transaction limits?

[tbird]

How many of you guys carry check books or a large amount of cash with you at all times? I don't, so I don't expect my clients to either. I have been taking credit cards since day one. Include it in your fees, it's a cost of doing business.

Nowadays, many places won't take checks. I don't walk around with a wad of cash (my wife would take it from me anyway), so I am left with plastic.

[caryseidner]

Square Up is beginning to make the $30.00 per month--plus fees--I give PayPal every month look like a sap's play. Why does Square Up limit transactions, I wonder? Some weeks I don't process any credit cards. But other weeks, I may get paid with credit cards five or six times.

I don't want to wait thirty days for the money to be transferred into my bank account. And of course who wants to keep track of receivables to make certain Square Up doesn't make a mistake?

Does anyone know of similar companies that DON'T have transaction limits?

From their website:

Once you link up your US bank account, Square will automatically initiate a payout to your bank account at the end of every business day. If you are a new user to Square and have already received $1,000 during the last seven days, Square will defer initiating the amount in excess of $1,000 for 30 days. Payouts to your bank account will normally register in your account within 1-2 business days.

Plan on transacting more then $1,000 regularly? No problem! We'll periodically look at your account and increase this automatically without additional user input needed. There are a few factors we look at when increasing your deposit amount, including refunds, chargebacks, and whether or not the majority of your transactions are accepted with your card reader. We always recommend that you use your reader as much as possible; those transactions are more secure for everyone involved. Please note that we're more likely to automatically approve users that do this.

[Scottpat]

Square Up is beginning to make the $30.00 per month--plus fees--I give PayPal every month look like a sap's play. Why does Square Up limit transactions, I wonder? Some weeks I don't process any credit cards. But other weeks, I may get paid with credit cards five or six times.

I don't want to wait thirty days for the money to be transferred into my bank account. And of course who wants to keep track of receivables to make certain Square Up doesn't make a mistake?

Does anyone know of similar companies that DON'T have transaction limits?

It all has to do with security and folks who are dishonest. They do not perform the credit checks like other CC processors do so I'm guessing this is their method to weed out the bad guys.

In the grand scheme of things to me it's not that big of a deal. Over the past several years I bet I have only gone over the $1000 mark in CC sales only a few times.

For 2.75% per transaction I can deal with it. I guess If I wanted to pay an extra % I could copy the CC number down and then input it without swiping it a few days later so it would be on the next weeks total.

[hausdok]

This morning's Seattle paper had an article about how the Girl Scouts were taking plastic to increase their cookie sales. The photo on the front page showed an Intuit device similar to that thing. Info is here.

ONE TEAM - ONE FIGHT!!!

Mike

[kurt]

That's the best deal yet. They give two options, <$1000 at the same rate, or $12.95 a month for >$1000 with a lower transaction percentage.

It's silly getting cranked up about the fees, but I just don't like giving anyone any of my money. Can't stand it, even if it's only a couple bucks.

[Charlie R]

"Charlie:

Just to play devil's advocate ....... you can't possibly know that you've never lost any inspections because of that policy. You state on your web site that you don't take credit cards. If a buyer on your site read that, but knew he wanted to pay with a card, he would just move on to someone else. How would you ever know that happened?"

You're correct, I don't really know if I've lost any business or not if they read it on my website and went elsewhere. I do know no one has ever asked me about it and then not been willing to use me. I also know I lose business all the time to inspectors who charge less than me but I don't plan on lowering my prices to get those clients.

[Fumyinspections]

Rectangle ware-ever pay is the best on the market, and has increased both my business' volume and my day to day convenience. As opposed to other similar companies (intuit, square, ect.) which I have looked in to- Rectangle is its own processor and not a middle-man so the rates are much lower. I also receive next day payment every time (which anyone who uses mobile pay knows is rare), and so for me there is really no other viable option. The website is xxx.xxx if ya'll are interested, I personally highly recommend it over any competitors.