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Original poster

CM Question... Being paid with Vouchers, how does this work?

35 replies

Tas1 · 24/11/2008 16:01

Hi, I am a CM and one of my mindees parents has ask if I would except some of my payment in vouchers. I believe they can have part of their wage paid in vouchers for childcare before the rest of their wage is taxed.

How does this work?
Do you have to wait for them to clear when they hit your bank account (like a chq)?
What are the pro's and con's?
How do I go about arranging this if I decide to go ahead?
Do I have to register with anyone?

All info greatly recieved.

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elkiedee · 24/11/2008 17:00

We use childcare vouchers from dp's employer towards paying CM - there's a limit of £55 a week or £243 a month and we pay her £140 a week. dp has an electronic voucher account showing a balance and if there's £140 or more in there he will transfer in vouchers, if not I give her a cheque. Voucher payments go into her bank account, like being paid by work by CHAPS, but I think it takes a few days so we try to do it in the middle of the previous week.

The voucher company does like to take its time but in our case that's a con for us not for her, I've always felt it's up to us to make sure she doesn't have to wait longer for her money either way, as we're the ones getting a small financial saving.

I was going to join the scheme too but then realised I was pregnant and didn't want to lose out on my employer's good maternity pay scheme. When I go back to work second time round I will join but again, I will make sure CM gets paid either way.

Original poster
Tas1 · 24/11/2008 16:58

Thanks everyone, seems alot of hassel.
Not likeing the chance of being paid late.
I will talk to parents again and then have a chat with my DH.

Not sure to go ahead or not

OP posts:
nannynick · 24/11/2008 16:53

Registering with the voucher companies can sometimes take a while, but once on their system, it's quite easy.
I get a paper voucher, which I redeem on-line. Takes about 3-4 working day (so allow a week) for the money to be transferred to my bank account.

jura · 24/11/2008 16:48

This reply has been deleted

Message withdrawn at poster's request.

PinkChick · 24/11/2008 16:29

LOL

southernbelle77 · 24/11/2008 16:18

Sorry!!!

southernbelle77 · 24/11/2008 16:18

Ooops, meant 'Pinkchick' not 'Shoshe'! Sorry!!

PinkChick · 24/11/2008 16:17

?..shoshe??

southernbelle77 · 24/11/2008 16:17

Much the same as Shoshe, but a couple of mine do go in about 3-4 days later than the 1st of the month as the parents have to wait until they have been paid in order to transfer the money if that makes sense. Not a problem for me as dh gets paid early in the month, but could be a problem if you are requiring that money to pay bills at the begininng of the month.

PinkChick · 24/11/2008 16:12

i receive payment via 'electronic' vouchers from Care$ and busybees...the parents company take the amount from their wages before ti is paid to them and is paid into your account 3-5 working days before your payment is due (i request this to make sure its clear for 1st of month! as could get complicated, cash is easier!)..i then get an email saying tis in and i can access my accounts with each of them online, but money go's direct into my business bank account..no probs at all if the HR dept are on the abll, other wise state if payment is not received by them you need paying for that week in cash until sorted out so you dont go without and parents are usually then keen to sort out as its not fair on them paying twice either..if a child is with you more than palnned or you take hols, i refund in cash at the time.HTH