Still collecting checks?
Remember checks? True confession: I still use them and in fact kind of like them. I get a lot of satisfaction in balancing my checkbook….nerd alert I know. I recognize, however, they are a thing of the past and a lot people don’t even carry checks with them anymore. Even though I still occasionally use them in my personal life, I have switched my business to take credit cards instead. I thought when I initially switched that if I offered to accept checks it would be about half and half of who wanted to pay that way, but I was wrong. Everyone chose the credit card option. So what are your options for collecting payments? I'll give you a few suggestions below! If you currently only accept cash or check, I would at least encourage to you start exploring how to accept credit cards so when you are ready to make the leap into the future you will know what you want!
Paypal: You can send invoices online, or you can order a mobile processor to connect to your phone. Fees range from 2.2-2.9%.I like paypal because their online invoicing is really easy to use, as well as their app for my phone. It’s been around a long time so I find clients tend to trust it. Drawback? You have to pay for their card reader or chip card reader.
Square: This is a great option for mobile as well, and the rate is 2.75%. You can also send online invoicing with Square. I don’t use square personally, but I know they send you a free card reader, and your money is transferred in 1-2 business days.
Stripe: This is just for online invoicing, with a 2.9% rate. This may be a good option for you if you are just collecting payments in advance and not on the day of your wedding.
I know that the frustrating part about taking credit cards over cash or check are the fees. There is a simple solution: raise your prices to compensate for it. Just add $5 or so to each service, and you are covered. You also can write off the fees on your taxes. The other perk with taking credit cards is that you will have your payments documented for you, rather than having to keep track of every cash and check transaction that you have. (Don't worry, you can still do a pen and paper balance for fun!)
