How expensive is it to set up some sort of on-line payment system?

[KatyMac]

I really don't know what I am talking about

But someway of receiving payments?

Or is it silly money

[Overmydeadbody]

You mean for a business?

Online payments on my website are done through paypal, it cost nothing to set up but they do take a small percentage of each payment, I can't remember offhand but it isn't enough to make a noticable difference to takings if that helps?

[Overmydeadbody]

Of course, if you just have a normal (non-business) paypal account it won't cost you anything.

[ShrinkingViolet]

look at Paypal - it's apparently pretty straightforward to install (they have guides) and the charges aren't that much more than if you do something via a bank (I looked into it for a charity to take membership payemnts, and banks wanted up-front deposits as well as monthly and per-item charges).

[CarGirl]

Think visa cards and debits etc also charge a percentage around 5% (possibly more if you are small business) plus you have to buy the machine £70 at a guess.

[KatyMac]

But I would need the website to be set up & that would cost

Hmm I wonder if a card machine is cheaper?

[ShrinkingViolet]

Paypal take 48p for a £20 payment from the recipient; it varies dpeending on the method of payment used (overseas payments seems to be more expensive)

[ShrinkingViolet]

depends what you are taking the money for - a business Payapl acoutn works the saem as a personal one - you don't need to do the website/shopping cart thing if you don;t want to, just tell people the PP address to use

[ShrinkingViolet]

sorry, rubbish typing tongiht, I can spell honestly

[KatyMac]

this is what I am trying to sort out

[Overmydeadbody]

As shrinking violet says, you don't need a website or anything, just a paypal account (although this might mean people can only pay if they also have a paypal account which obviously isn't the case if you have a website that takes online payments)

Banks will also charge you if you have a machine.

[KatyMac]

I think I am too confused for this tonite

How long does money take to go into my paypal account?

[solidgoldbrass]

You can get a manual machine from the bank (ie the old fashioned paper slip and swipe system) for about £12 per month: I have one of them because do not want to shell out the vastly bigger sum of money for an electronic terminal. Otherwise there are ways of doing it on your mobile. though I am not sure if you have to be a Fed member for this.

[KatyMac]

OK £12 a month is waay too much for this

I think I will start small & take cash/bank payments & worry if I get a lot

[Overmydeadbody]

money goes into paypal account instantly. It takes slightly longer for paypal to transfer the money over into your bank account though.

What's wrong with cheques?

[KatyMac]

They can be cancelled

[solidgoldbrass]

Yes but if someone cancels a cheque you can go after them in the small claims court.

[MrVibrating]

KatyMac, don't be frightened off accepting credit cards through PayPal - it is better and cheaper than anything else available to you. Charge a premium for credit card payments (5%?) to cover the costs: if people want the convenience they need to pay for it.

Better still, put your prices up 5% and offer a 5% discount for cash in advance. That way people don't feel like you are fleecing them for using their credit card (they don't realise just how much this costs you), but those that want/need the lower price can still get it as long as they continue to pay in cash.

[aSlurOnBrilliantScientists]

paypal. don't be scared. quick and easy.

[KatyMac]

I am thinking I will go with bacs & chs & cash

Because I'm lazy

[nannynick]

Cheques are a pain, you have to take them to a bank and then they can take ages to clear.

Set fees such that they cover the cost of credit/debit card transactions (but don't tell clients that).

Then offer:
Paypal (you can send them an invoice via e-mail - Paypal lets you create templates to make this easier)
Cash - and consider a small discount for advance payment.
Also offer BACS for those clients who use your services regularly.

[KatyMac]

Thanks Nick

It certainly needs thought