...and therein may lie the crux of the matter. I would find it convenient for customers where small works are concerned to pay me (at the point of sale) by card. First reason it's done and dusted there and then and secondly I guess (perhaps incorrectly) that there would be less likelihood of a bouncer! I have some info (verbal) that suggests that one has to be registered with the FSA or some such body etc. Also I guess there is the question of portability(van based) and the problems that that may bring up. Can't guarantee anyone back in the home/office either. Am I looking at an expensive nightmare here trading at the low level that I currently do.?
All thoughts gratefully received............Martin.
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A local trader told me that the cheapest deal he could find was going to cost him (iirc) £300 to set up and then £s per transaction. It's obviously convenient for you, and for me too, the purchaser but at what cost to you?
I'm still waiting to see how they intend to replace cheques. I don't think anyone really has a clue.
John
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You don't need to be FSA regulated.
As posted above, initial and especially ongoing costs may be the decider as to whether its worth it for you
Last edited by: wilco on Fri 5 Nov 10 at 12:55
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In many people's eyes the ability to pay by credit card is a considerable plus when considering which contractor to chose and although the costs can look high I suspect that it would be beneficial overall to your business.
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My wife's job is tracing and solving banking fraud. She tells me that cheques are by far the most abused form of transaction for now but that electronic fraud is increasing exponentially.
I still use and accept cheques frequently in business to business transactions but find I use them much less often for private purposes.
Every time you give your bank details to a third party, however you do it, so that they can make a payment to you, you are potentially giving away access to your bank account.
Did you know that you can successfully and rapidly sue the issuer of a bouncy cheque in Scotland ? Should be the same in English law in my opinion.
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Guy who did my TV aerial took payment with a handheld terminal, presumably connecting over the GSM phpne network are widespread. And as our trains have no wi-fi I guess the conductors TTM works the same way.
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>> Did you know that you can successfully and rapidly sue the issuer of a bouncy
>> cheque in Scotland ? Should be the same in English law in my opinion.
>>
It is and have done it although many years ago (25+). Apparently there is no defence in law against a dis-honoured cheque.
I have been reliably informed that being a member of the Federation of Small Businesses markedly reduces the costs of these systems........but mobile?? I know not (yet)
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>> Every time you give your bank details to a third party, however you do it, so that they can
>> make a payment to you, you are potentially giving away access to your bank account.
Jeremy Clarkson once ranted on how the government losing all the bank details a few years back was no big deal and having an account and sort-code didn't put you at risk. He even published his bank details. And then someone setup a direct debit to a charity from his account to prove him wrong.... and he was a bit surprised and was wrong to think there was no risk.
Therefore giving someone a cheque has risks associated to it because your bank details are all on it including the address of the branch.
MD - could you use PayPal for payments? I know the client would need a paypal account.
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I guess possibly OK for the younger ones.
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The problem with JC is anybody would know is date of birth etc so it would be easier to.
I take cheques all the time, the main nightmare with them is that business cheques take 8 days to clear.
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But what will you do when there are no cheques? I know there's a long time before they're gone though.
Last edited by: rtj70 on Fri 5 Nov 10 at 13:24
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We don't know. A recent announcement suggested that the date proposed could not be firm until an alternative is available. We have yet to hear what it is. Perhaps paper tokens of various denominations could be used?
John
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Ah, money ? Now there's a thought. You can't overspend it because when its gone its gone. Your details can't be traced from it and if you take it to the bank it goes into your account straight away..If you could just ensure no one could forge it and no one would steal it you'd be on a home run...
I don't know what the answer is. Shoot all criminals probably. Start fresh...
:-)
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I accepted CC when I was a mobile car tuner, more reliable than cheques, had more than a few rubber ones!
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Just a thought, a local business allows you to pay by direct transfer into their account. i.e you go to your pc, logon to your account, and tell it to transfer £x. Of course this means they have published bank details. Maybe some sort of "receive only" bank account is available?
The more ways to pay you can offer the better I guess. I still think that your original idea, cash on the nail via a card reader, is your best way to go.
John
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Getting paid by CC or DC - Tooslow
