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    So our biz. licensing is done, company designs done, yada, yada - Now it's time to set up a commercial bank account, where I imagine options and best choices vary according to location, But, what about "merchant services"? What's the best way you all have found to take payment? Cash and checks are a given - seems like I should probably set up a Paypal account, but what about the clients that want to use credit cards? I've found many, many options/services online, just hoping to get some feedback from those with experience.
    Thanks,

  • #2
    Credit cards cost YOU money. On every sale they get a small percentage on top of the service fee. The worst of the lot is AmEx and I've had quite a few places spurn my corporate AmEx.

    Be sure the ROI is worth it. Seems I remember Paypal takes credit cards on the client end and pays cash into the account for the designer. No idea what that service costs. I've used it a couple times for people from whom I've purchased images, but setting up that paypal account on my end was a PITA. Plus Paypal has a nasty habit of changing user settings, almost as bad as Facebook.

    Also too, and this may be a state-by-state thing, it's against the law to charge more for a credit card transaction than for cash.

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    • #3
      I don't accept cash payments - prefer a solid paper trail for my accountant and the ''man''.
      I have never had a client request payment by credit card - but to be fair, I deal primarily with corps. and large businesses.
      Hard to comment on if ''merchant services'' on business bank accounts are worth it - if the services offered matter to you perhaps it is?
      I prefer check payments or bank transfer payments, and as an aside, if you have not yet done so, get a business-only credit card for business-only expenses.
      Sketching not only helps you work out good ideas, it helps you get past the bad ones.

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      • #4
        Originally posted by PanToshi View Post
        I don't accept cash payments...
        It likely never comes up, but how would you get around the note on U.S. currency that says, "This note is legal tender for all debts, public and private." In other words, if a guy walks in and wants to pay you with a giant wad of dollars bills, you'd be legally required to accept them as payment. Like I said, it's not likely, but just hypothetically speaking...

        ...seems like I should probably set up a Paypal account, but what about the clients that want to use credit cards?
        I've used PayPall quite often over the years for accepting payments of various sorts. And yes, the payer can simply use a credit card to pay through PayPal without needing to set up an actual PayPal account. I can't remember the exact fee, but it's something like 2.9%, plus a flat 30-cent fee per transaction.

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        • #5
          Originally posted by B View Post

          It likely never comes up, but how would you get around the note on U.S. currency that says, "This note is legal tender for all debts, public and private." In other words, if a guy walks in and wants to pay you with a giant wad of dollars bills, you'd be legally required to accept them as payment. Like I said, it's not likely, but just hypothetically speaking...
          Hypothetically speaking, I'd take the wad of cash and deposit into the bank But as you say, in 25+ years, it has never come up - I assume mostly because I deal with large companies with accounts payable departments with the accompanying slew of paperwork, and am billing in the 4-5 figure-range, not so much the 2-3 figure-range.

          I also don't generally have walk-in clients.
          Last edited by PanToshi; 08-01-2016, 01:49 PM.
          Sketching not only helps you work out good ideas, it helps you get past the bad ones.

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          • B
            B commented
            Editing a comment
            I actually did have a freelance client, maybe 20 years ago, pay me several hundred dollars in various coins and low-denomination bills.

            He was a peculiar guy who ran a landscaping company that only dealt in cash. He cited a far-fetched bank conspiracy theory as his reasoning, and insisted that cash was the only way to go.

            I suspect his actual motive was to avoid an IRS paper trail and to keep his illegal-immigrant employees off the books, but that's just speculation.

        • #6
          Originally posted by B View Post
          I actually did have a freelance client, maybe 20 years ago, pay me several hundred dollars in various coins and low-denomination bills.
          What a hoot! Your bank teller must have loved that!
          Not me, I would not have known how to handle that in the moment! Gather up the pennies in my tin-foil hat, I suppose LOL
          Sketching not only helps you work out good ideas, it helps you get past the bad ones.

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          • #7
            I find a lot of clients want to pay by credit cards these days (maybe cuz they want to collect the points or something). I also require Payment on Delivery so if they do pay by credit card, they sorta still get 30 days to pay. Even larger companies have "P" Cards or purchasing cards to pay vendors that want to collect electronically. It makes you look more professional as well. I used to use PayPal but I find the whole process clucky and unprofessional. But I recently found (on GDF actually) something I just signed up to. It's called FinalFile. It's pretty bad ass.

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