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

[Tas1]

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.

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

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.

?..shoshe??

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

Sorry!!!

LOL

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.

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

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.

Tas1, it's not that much hassle (for you), so long as parents using the scheme don't expect you to wait for the voucher company. If you send the voucher company your bank details, you should then make it clear it's up to the parents to see you get paid on the appropriate dates. Vouchers probably won't be the whole of your payment anyway.

As Jura said, there are ways of ensuring that you still get paid on time. You just need to make sure the parents understand that they must pay on time, which includes any form of payment they are using actually clearing into your bank account. Saving up the voucher is the best way, so if they got a voucher say on 30 November, they could use that to pay a bill which is due 1st January. They couldn't use it to pay by 1st December, as it would not clear in time.

Thanks everyone.
Feel a bit happier about it now.

I get paid by busybees, after a hickup with the first month it has been hassle free and I actually prefer payment this way.

Hi
This is very useful info, I will be accepting ACCOR vouchers in the new year. It was simple to register on their website, the parents said it worked well for them previously, fingers crossed it will work fine, awkward when payments are late..

Sorry to bump this again, but i have been asked to accept vouchers and really dont want to but considering it (mainly through feeling pressured to)

How do you make it work for you? if they pay you vouchers weekly and you require monthly?

I think im having a 'silly' moment here but mother is persistant she wants to pay with them.

if a childminder refused to be paid by these vouchers, I'd find one that did - it's a great help to us

if they want to pay weekly , can't you just budget accordingly?

You cant budget accordingly when you have £1200 rent to pay a month and than one or two parents full short because of a system hiccup at a certain voucher comany.. If Voucher dosen't come through, than Im stuck?

I have found even with parents on tax credits they will come and tell me tax credits paid short or not enough this month and they cant pay, when that is their problem not mine, (i dont mean for to sound rude in anyway) BUT you wont get on a bus and say ill pay next week because you wages hasn't come through. Same way you cant expec me to feed your child, keep them walm and take them out on no wage.

So i have to make it work for me, its not to be difficult, its just we all have to look after ourselves.

She can save up her weekly vouchers (I assume paper ones) and pay monthly - it will just take her a month to 'get there' iyswim

Tas, i ask all my Parents to keep a months vouchers in 'hand' so to speak, they then release them half way through the next month, so would hold them in April say when they start, and pay me all there invoice by cheque, then release them on about the 20th April to pay for May, giving me the remainder in cash/cheque on the first.

That way they are never later.

TAS1 What did you decide in the end regading vouchers?

BTW all my parents pay with vouchers, monthly.

i have 6 parents paying with Sodexho, and one with accor. Sodexho, after the initial teething troubles (which was more to do with the Army pay system) have never given me problems.

Accor have not paid twice, but the mother paid me, and when it eventually arrived, I paid her back.

Is it basically just like recieving a cheque?

a partial one, where as parent pays additional fees etc?

It goes straight into my bank, I dont take paper vouchers, the parents fill in a form, you fill in one with your bank details and it goes straight in.

It can take 6-10 days which is why I ask them to hold a months back.