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TonyD

  • Posts: 331
Re: CHEQUES TO BE OFFICIALLY ABOLISHED BY 2018!!!
« Reply #20 on: December 16, 2009, 08:24:38 pm »
How does the portable card machine work?  Is it hooked up to a mobile phone?

I wonder how much these cost to buy/rent/operate?

Any suggestions appreciated. :)
Yes from mobile signal, cost aproox £25 a month plus fee per transation

123send.net or .co.uk have a read  ;)

if your a member of fsb you get a discount  :D

Plus you need a specific merchant account from the bank for card payments, they won't allow you to use a normal business account, plus they charge a minimum of around £35 plus their transaction charges.  I went through the process last year to set it up, and the total costs came to around £65 per month, I gave up on the idea because of this.

Mist A Bit

  • Posts: 1032
Re: CHEQUES TO BE OFFICIALLY ABOLISHED BY 2018!!!
« Reply #21 on: December 16, 2009, 08:34:35 pm »
the bigger worry is when cash is a distant memory. but if we are able to take card payments at the doorstep that would be great, not sure how that sort of thing would work

dazmond

  • Posts: 23862
Re: CHEQUES TO BE OFFICIALLY ABOLISHED BY 2018!!!
« Reply #22 on: December 17, 2009, 12:04:05 am »
cash will NEVER BE A DISTANT MEMORY! ;D ;DCASH IS KING!!! ;D ;D
price higher/work harder!

TLC

  • Posts: 168
Re: CHEQUES TO BE OFFICIALLY ABOLISHED BY 2018!!!
« Reply #23 on: December 17, 2009, 01:12:13 pm »
AMEN!!! 8)

Re: CHEQUES TO BE OFFICIALLY ABOLISHED BY 2018!!!
« Reply #24 on: December 17, 2009, 03:58:47 pm »
They can pay me with gold ingots.  I don't mind   ;D  .

Seriously though, I will need to adjust how I receive payments eventually.  A few pay by bank transfer already.  I will need to accelerate that at some point.  Even those without internet banking can use telephone banking.
Several years ago I totted it all up.  In that particular year, about 55% of my turnover was paid by cheque.  I've no reason to believe that has changed significantly since then.  The majority of those cheques were delivered by the postman.  Probably one third of my income is delivered by post as cheques.  Personally I am fine with this situation.  I just scan them, sort out the deposit paperwork, and make the deposit.
I would much rather be able to take the money direct from the customers' accounts by direct debit though (subject to the usual 10 day notice period).

Spruce

  • Posts: 8431
Re: CHEQUES TO BE OFFICIALLY ABOLISHED BY 2018!!!
« Reply #25 on: December 17, 2009, 08:45:36 pm »
A financial guy was interviewed of BBC this morning and he said that for small businesses such as ours the technology already exists for them to transfer money to you using their bank card 'swiped' against your mobile phone. A mobile phone because its the technology that virtually everyone has and uses. When linked to the internet either then or later, the money will automatically be transferred to your bank account.
Success is 1% inspiration, 98% perspiration and 2% attention to detail!

The older I get, the better I was ;)