Deposits by cash

[BossmanKaraokeDisco]

Hi Guys
Something I have noticed this year is that more and more of my customers are having to send their deposit by cash in the post as they dont seem to have cheque books.
Yes I do have a paypal account but have never though of using it for deposits. Has anyone tried using Paypal for deposits or has anyone got any other ways to get round clients having to send cash in the post.
I always meet with clients but this can be weeks after the booking has been taken and I always like a deposit with the signed contract.
Open to suggestions
Thanks in advance
Dave

[Ajaysdisco]

I have had the same problem with no cheque book available, but only once this year.
I use PayPal but you have to be careful with their fees, for small amounts its not too bad but for large amounts it can expensive.
Don’t quote me on their fees but its something like 3.4% +20p per transaction.

[soundtracker]

Never ever had this problem!

[Solitaire Events Ltd]

I've had a few clients who don't have cheque books too and one very recently.

There are other methods - I use a card machine, but if you can't justify that, then how about BACS transfer?

[BossmanKaraokeDisco]

That is the problem with Paypal, not sure of the actual charges either.
Had one or two last year send cash and did not think anything of it but had about 7 or 8 send cash already this year and a couple of clients have commented how they have no cheque book anymore and could I email a confirmation that I have recieved the contract and cash.
Its not a major problem just wondered wether anyone had any ideas, maybe other than Paypal.
Thanks
Dave

[ppentertainments]

There are other methods - I use a card machine, but if you can't justify that, then how about BACS transfer?
Most of my deposits and payments are now done using BACS. Have thought about a card machine but realistically probably only get used a few times a month so cannot justify. Paypal has been a good alternative and even corporate clients have been happy using paypal.

If I could get one cheap enough I would definitely use a card machine as more and more banks are now not issuing cheque books.

[BossmanKaraokeDisco]

Most of my deposits and payments are now done using BACS. Have thought about a card machine but realistically probably only get used a few times a month so cannot justify. Paypal has been a good alternative and even corporate clients have been happy using paypal.

If I could get one cheap enough I would definitely use a card machine as more and more banks are now not issuing cheque books.

Never thought of using BACS, Do you just give the client your bank details and they send the payment from their account.
Dont think I could justify a card machine either unless they came down in cost

Dave

[Ajaysdisco]

Found it :) : https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-receiving-fees-outside&countries=

[CRAZY K]

Hi Guys
Something I have noticed this year is that more and more of my customers are having to send their deposit by cash in the post as they dont seem to have cheque books.
Yes I do have a paypal account but have never though of using it for deposits. Has anyone tried using Paypal for deposits or has anyone got any other ways to get round clients having to send cash in the post.
I always meet with clients but this can be weeks after the booking has been taken and I always like a deposit with the signed contract.
Open to suggestions
Thanks in advance
Dave

Pay the cash into a branch of your Bank and credit your Account?

There is no charge with my Bank.

Not sure if they use a different bank to your own.:confused: might be a charge.:(

Alternatively Postal Order.

We do that on last minute bookings if we are not happy with the clients finances.

Of course im assuming you are with Nat West, Barclays etc.

Using Internet Banking is what we do now, also of course payment over the Internet by card (Angela will fill you in on that one ;) ) if your keeping costs down, payment by card over the phone is more expensive to operate.

[ppentertainments]

Never thought of using BACS, Do you just give the client your bank details and they send the payment from their account.

Dave
Just sort code and account number is all thats needed. I have found some people to even pop into a branch and deposit the money in the account so I always let them know which bank it is also.

If it was my choice all payments would be made this way.

[Ajaysdisco]

Just sort code and account number is all thats needed. I have found some people to even pop into a branch and deposit the money in the account so I always let them know which bank it is also.

If it was my choice all payments would be made this way.

Don’t forget a reference number! ;) :p

[BossmanKaraokeDisco]

Just sort code and account number is all thats needed. I have found some people to even pop into a branch and deposit the money in the account so I always let them know which bank it is also.

If it was my choice all payments would be made this way.

Got to admit I had not thought of that way but definately going to look into making it easier for my clients so they dont have to worry about sending cash through the post.
I am sure I will get enough ideas the way the responses are going
Thanks to you all
Dave

[simonp]

BACS is the most popular way for people paying me now, although I still get cheques. I do use Paypal but tell customers upfront that they will have to pay an extra 4% to cover the PayPal charge/admin fee and then show the total payable with the 4% added.

[Shaun]

Most of my clients pay the deposit via BACS these days, the rest pay the deposit via paypal. It's been a while since I last received a cheque.

[CRAZY K]

Most of my clients pay the deposit via BACS these days, the rest pay the deposit via paypal. It's been a while since I last received a cheque.

Although we always offer BACS very few people use it--as a percentage --maybe 15per cent.

Rest are cheques:eek:

Very strange--- :daft:

[Corabar Entertainment]

...and I can't remember the last time I received a deposit by cheque!

(Mind you, using Nochex and digital signing of contracts means it's easier for people not to)

We might have to pay out transaction fees for Nochex, but then again, we save a fortune on paper, ink, postage and time, so it really balances itself out.

[surround sounds]

80% of mine pay there deposits by Cheque,The other 20% pay either bank transfer or paypal..

[DeckstarDeluxe]

:o
Never ever had this problem!


Seconded. Take credit card payments on site, or Bacs/cheque payments too. Really no need for cash and of course they need to settle the balance 14 days beforehand too.

[yourdj]

Just give them sort code and bank no :confused:

Or meet them and get the cash - assuming they are local.
That way you can charge for a meet. All my bookings include meetings anyway.

I got a cheque last week - what a pain in the bum!!

I have paypal but refuse to use it now.
Internet banking :D

[Dynamic Entertainment]

Cheques are starting to become less and less, and the ending of the Cheque Guarantee Scehem is just another nail in the coffin IMO.

BACS is popular, as is cash and I do accept Paypal...but on a £50 NRBF, paypal take £1.90 :eek: ;)

[DeckstarDeluxe]

Mine are about 50/50 with cheques/bacs & credit card though I still post contracts at the moment....

[NKR]

Never thought of using BACS, Do you just give the client your bank details and they send the payment from their account.
Dont think I could justify a card machine either unless they came down in cost

Dave

Yep its that easy. Bank transfer is how we take deposits when people haven't got a cheque book. If they have not got a cheque book it is usually as they internet bank.

[Excalibur]

Many of my Day Job suppliers are beginning to put BACS info on their bills, as the once traditional cheques become less common. It really is the easiest way to do it.

[woody2]

if they send it as a gift via paypal,no fees are payable

[Excalibur]

if they send it as a gift via paypal,no fees are payable

Unless there's another way of doing it, when I tried this to pay for something from a forum member, it cost me nearly two quid on a thirty pound deal.

[djdave01]

im getting about 50% desposits paid either by BACS or paypal.

the rest are paid by cheque or cash in the post, people just send cash are using recorded delivery. Never had any problems

[chrisj]

I always though if money is sent by paypal as a gift the person receiving it does not get charged but the person sending it has to pay the additional fee for using paypal.

[Corabar Entertainment]

if they send it as a gift via paypal,no fees are payable


Unless there's another way of doing it, when I tried this to pay for something from a forum member, it cost me nearly two quid on a thirty pound deal.


I always though if money is sent by paypal as a gift the person receiving it does not get charged but the person sending it has to pay the additional fee for using paypal.
From Paypal at https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-fees-outside:-


Personal Transfer

It's free* when you use your PayPal balance or your bank account linked to your PayPal account. There is a charge of

3.4% + £0.20 GBP*
for debit or credit card payments
(either the sender or recipient can pay this fee).

However, we are speaking of business transactions here - not personal ones. Running your business with dodgy scams like that is not the way to go. Apart from the fact that it would look very unprofessional to clients ("Oh, and could you send it as a personal payment so that we don't have to pay any fees? :eek: ) it is obviously in breach of of paypal's T&Cs and is likely to land you and your client in trouble at some point.

If you're running a business then run a business!!

[simonp]

Really no need for cash and of course they need to settle the balance 14 days beforehand too.

Ditto - For weddings it's 28 days and Private parties 14 days - Don't ask why, because I don't know why I do it like that :confused: I just always have - strange!
I can't even justify in my head why it's one rule for one and one for another!!


if they send it as a gift via paypal,no fees are payable

That doesn't apply anymore - Paypal grabs yer money whatever :(

[Vectis]

If you're running a business then run a business!!

:agree:

Also, asking clients to use Gift means they have no claim if you do a runner.


At 3.4% + 20p for a relatively low volume of transactions, this has got to be at least as cheap as running a terminal?

I used PayPal for years as my predominant payment method for balances as well as deposits, and when it became apparent that a large percentage of transactions came this way I just raised my pricing by 2% to cover it.

[yourdj]

Why would anyone send cash in the post!

If it goes missing what happens then?

The client may think you pocketed it (unless its signed for) or they will be disgruntled to pay again. internet or in person or cards over phone/website. iMO

Forget cheques. the charge is not allot less than Paypal and you actually have to leave the house :eek:

[Excalibur]

Why would anyone send cash in the post!
If it goes missing what happens then?

The client may think you pocketed it (unless its signed for) or they will be disgruntled to pay again. internet or in person or cards over phone/website. iMO

Forget cheques. the charge is not allot less than Paypal and you actually have to leave the house :eek:

I have no idea! :confused: :confused: It must be an absolute last resort. As posted previously, there are many other options for them to get cash safely to you.

[Charlie Brown]

Special delivery - you can claim £500 compensation for cash lost in the post.

[STEVE HANLEY]

I've always just told the client to send a cheque, but after reading this thread I think I'll be going down the BACS route in future.

[CRAZY K]

Mine are about 50/50 with cheques/bacs & credit card though I still post contracts at the moment....

We always use Attachments by email for Contracts.

Unless client is not on a Computer ( about two a year )

I think it would save you quite a bit on postage and envelopes AND printing costs at your end for Contract plus T and Cs ( several pages)

[Jason]

If we meet clients (we normally do this if possible), we hand over an info pack - this contains 2 copies of our terms, the quote (assuming nothing changes), and other bumpf.
The pack has a small cost (printing and the folder, but it presents a professional image)

I have taken cash as a booking fee, but normally its a cheque or my prefernce is a bank-transfer.
Some clients also pay via paypal.

As mentioned above, the PayPal fees are not too bad. I've had a £400 booking paid via PayPal - at a cost of £13.80.
In the scheme of the booking, it was acceptable - but not my choice.
For me to place a cheque into my business account there are fuel costs (3 mile trip), a lost lunchbreak, and then small bank charges.

Bank transfer is great, but not everyone banks online. Some Weddings are paid by the parents who want to issue cheques.
Limiting clients options for very small financial expense is not a good idea unless you don't need the business.

[BossmanKaraokeDisco]

Thanks for all the responses, it has given me plenty to think about and I will definately look at modifying our pack to include banking details for bacs. I will also look into putting Paypal link on website.
Have not got a problem with cheques as go to bank every Monday to do all my banking, cash and cheques.
Thanks again for all the info
Dave

[CRAZY K]

Some clients also pay via paypal.

As mentioned above, the PayPal fees are not too bad. I've had a £400 booking paid via PayPal - at a cost of £13.80.
In the scheme of the booking, it was acceptable - but not my choice.


That sounds embarrassingly expensive--:eek:

Either for you to swallow it---or ask the client to pay it.

Glad im still on cheques plus BACS.

[yourdj]

the PayPal fees are not too bad. I've had a £400 booking paid via PayPal - at a cost of £13.80.

It is when you add them up.
I did 89 weddings last year most with paypal.

£13.80 x 89 = £1,228 :eek: (thats excluding the all dayers at £800)

I have done none this year all BACS = £0 ;)

[funkymook]

It is when you add them up.
I did 89 weddings last year most with paypal.

£13.80 x 89 = £1,228 :eek: (thats excluding the all dayers at £800)

I have done none this year all BACS = £0 ;)

I would've made arrangements for BACS when I started seeing it going past £100 in paypal fees - why did you let it continue to that extent?

[ppentertainments]

It is when you add them up.
I did 89 weddings last year most with paypal.

£13.80 x 89 = £1,228 :eek: (thats excluding the all dayers at £800)

I have done none this year all BACS = £0 ;)
But surely that is when a card machine would then become viable.