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 re: assignments from notary 123
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jbelmont

California
3106 Posts

Posted - 05/13/2010 :  01:06:19 AM  Show Profile  Visit jbelmont's Homepage  Reply with Quote
You should think about getting paypal. They have higher fees, but its secure and they have good moderation should you ever need it. No monthly fees like a processing account either, and many people have paypal accounts these days.

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vince

Kansas
324 Posts

Posted - 04/23/2010 :  08:53:50 AM  Show Profile  Visit vince's Homepage  Reply with Quote
How much are credit card processing fees? This information is from Costco's website. This service is available to its members.

"Processing rates
Take Credit for Less! Costco has partnered with Elavon to make accepting credit cards affordable.

Costco Member Pricing for VISA/MasterCard Transactions*

Retail Merchants 1.48% Plus 20¢ per card-swiped transaction
Mail/Telephone Order Merchants 1.99% Plus 27¢ per transaction
Internet Merchants 1.99% Plus 27¢ per transaction

Costco members also receive discounted prices on equipment.

Program Features
Accept Visa, MasterCard, American Express, Discover, debit cards and corporate purchasing cards.
$4.95 monthly statement fee - waived for Executive Members
One time $25 application fee - waived for Executive Members
Live customer service 24-hours a day / 7-days a week
Free basic online merchant account access
No batch fees
"
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PWinFL

Florida
469 Posts

Posted - 04/21/2010 :  05:36:44 AM  Show Profile  Visit PWinFL's Homepage  Reply with Quote
I accept cash, local check and money orders as payment for regular notary work. I do not accept credit cards (except as payment in advance through PayPal).

Credit card terminals can be expensive, plus you need to pay a monthly service charge as well as a percentage of the transaction. IMO, it is not worth the expense to accept credit cards for notary work. There just isn't enough cash flow to justify the expense.

Just do a Google search for "Credit Card processing".


Never drive any faster than your guardian angel can fly.

I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.


Visit us online at http://www.PAWnotary.com
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DianaNotary

California
171 Posts

Posted - 04/20/2010 :  6:55:13 PM  Show Profile  Visit DianaNotary's Homepage  Reply with Quote
----> that's the point:

Hi all,

I am getting assignments from individuals. How should I proceed with payment? I usually ask for cash, but should I start accepting credit cards? If any of you been in my situation, please let me know how you dealt with it? How much does it cost to have a credit card terminal and when is it worth to do it?

Thanks,

leeinla
quote:
Originally posted by cnaylor

Hi Diana, I think the only person who brought up terminals was the original poster. Without re-reading every post, I don't think a single poster below supported terminals, all posts since were about Paypal (or similar).

I guess I don't understand your post unless maybe your not aware Paypal is an online service, not terminal based.

Craig/CA



http://www.DianaNotary.com
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PWinFL

Florida
469 Posts

Posted - 04/20/2010 :  04:43:53 AM  Show Profile  Visit PWinFL's Homepage  Reply with Quote
quote:
Originally posted by cnaylor

I guess I don't understand your post unless maybe your not aware Paypal is an online service, not terminal based.


Hi Craig ... Just as a reference point, PayPal does offer a 'terminal' application of sorts, where the PayPal client (the one accepting the payment) can use their own PC to accept credit cards and process CC orders over the phone, via mail, etc. PayPal calls this "Virtual Terminal" and is available only to US clients (at this time).

https://www.paypal.com/us/cgi-bin/webscr?cmd=_vt_hub-outside&nav=2.0.4


Never drive any faster than your guardian angel can fly.

I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.


Visit us online at http://www.PAWnotary.com
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cnaylor

California
32 Posts

Posted - 04/19/2010 :  11:36:04 PM  Show Profile  Visit cnaylor's Homepage  Reply with Quote
Hi Diana, I think the only person who brought up terminals was the original poster. Without re-reading every post, I don't think a single poster below supported terminals, all posts since were about Paypal (or similar).

I guess I don't understand your post unless maybe your not aware Paypal is an online service, not terminal based.

Craig/CA

Edited by - cnaylor on 04/19/2010 11:43:45 PM
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DianaNotary

California
171 Posts

Posted - 04/19/2010 :  10:14:08 PM  Show Profile  Visit DianaNotary's Homepage  Reply with Quote
It is not worth financially having a mobile credit/debit terminal. The fees are too high (you pay for each transaction + a certain percentage + monthly fee) these could add up at the end of the month. Of course, if you just don’t want to deal with checks and have many transactions and appointments throughout the day, it’s probably convenient to take credit cards on the spot.
Another question to ask yourself is: would you really want the responsibility of carrying around so much of sensitive information (payment info, names, addresses and other info already registered in the notary journal) for the same individual? (I wouldn’t!)

Checks work great for me!

http://www.DianaNotary.com
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cnaylor

California
32 Posts

Posted - 04/19/2010 :  01:26:54 AM  Show Profile  Visit cnaylor's Homepage  Reply with Quote
I gladly accept Paypal.

I let those who are interested in paying via Credit Card know I charge an extra $5.00 for such. Most decide to pay cash or check, but several have agreed to the additional charge. I've actually come out ahead in these cases.

Due to multiple no-shows on some longer distance travel appointments (50 miles one way last Friday for example), I'm actually considering taking the hit on Paypal fees on longer distance appointments to collect the travel portion up front. Again I think I'll be ahead fee wise without an increase, like I currently due, compared to the out of pocket expenses on no-shows.

As to Vinces comment about a business paying for a closing via C/C, I've never incurred this, only direct work for individuals has the subject been broached.
Craig/CA

Edited by - cnaylor on 04/19/2010 11:42:12 PM
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vince

Kansas
324 Posts

Posted - 04/14/2010 :  09:01:04 AM  Show Profile  Visit vince's Homepage  Reply with Quote
quote:
Originally posted by PWinFL
That's the way Paypal makes their money. 2.9% + .30 per transaction. Cheaper than processing credit cards on your own. (International transactions are 3.9% + .30)



While I do not accept Paypal, I can see Paul's point. The fee amounts to a gallon or two of gas. Perhaps I'm just too lazy about this. If the company's payment record would require me to accept Paypal, I'd rather reject the closing and hope that similar business is eventually assigned to a reputable service that pays a fair fee on time. That would be similar to the prospect of accepting lowball assignments. If no one took them, they would not be offered - negotiation or not.
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PWinFL

Florida
469 Posts

Posted - 04/13/2010 :  4:32:54 PM  Show Profile  Visit PWinFL's Homepage  Reply with Quote
quote:
Originally posted by egw91145

As to being paid on PayPal, I will not accept payment that way again. I was paid that way from a company once, the fee was $125 and PayPal took $3.93.


That's the way Paypal makes their money. 2.9% + .30 per transaction. Cheaper than processing credit cards on your own. (International transactions are 3.9% + .30)


Never drive any faster than your guardian angel can fly.

I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.


Visit us online at http://www.PAWnotary.com
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egw91145

Florida
62 Posts

Posted - 04/08/2010 :  10:42:53 AM  Show Profile  Reply with Quote
I've had two assignments from 123 and collected a check from one and cash from the other. Both of these were from people who live in the community where I live. Not sure I would accept an assignment from a "client" who found me who does not live in this community. I'm in a 70,000+ gated active adult (retirement) community, so I do have that luxury.
As to being paid on PayPal, I will not accept payment that way again. I was paid that way from a company once, the fee was $125 and PayPal took $3.93.

EGW
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PWinFL

Florida
469 Posts

Posted - 03/23/2010 :  08:16:08 AM  Show Profile  Visit PWinFL's Homepage  Reply with Quote
Fees are now the same for all accounts - Personal, Premier, and Business. Please note that the Purchase rate applies to all payments using Request Money.

https://www.paypal.com/us/cgi-bin/?cmd=_display-fees-outside


Sending money - It's always free to send money to friends and family when you use your PayPal balance or bank account. Fees apply only if the sender uses a credit or debit card, or if you receive any payment for goods or services.

Receiving purchase payments - The standard rate for receiving payments for goods and services is 2.9%.

If you receive more than $3,000.00 USD per month, you're eligible to apply for PayPal's Merchant Rate - which lowers your fees as your sales volume increases. Your fees can be as low as 1.9%, based on your previous month's sales volume.

https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-receiving-fees-outside&countries=


Never drive any faster than your guardian angel can fly.

I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.


Visit us online at http://www.PAWnotary.com
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cmihalik

New Jersey
26 Posts

Posted - 03/23/2010 :  06:57:23 AM  Show Profile  Reply with Quote
Actually, I have a personal acct with Paypal and do not get charged fees at all. Fees are only charged on business accounts.
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CopperheadVA

Virginia
420 Posts

Posted - 02/15/2010 :  04:35:12 AM  Show Profile  Reply with Quote
Agree with Lisa T. Google Checkout or PayPal is the most economical way to accept credit cards, however there are some small fees involved so price accordingly.

CopperheadVA

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Lisa T.

California
391 Posts

Posted - 02/14/2010 :  4:29:34 PM  Show Profile  Visit Lisa T.'s Homepage  Reply with Quote
I accept cash or checks when in the field. I prefer cash and will say so if asked. I do provide customers with a receipt. I do not accept debit/credit cards in the field as a merchant account with a wireless terminal would be too costly. I have an online merchant account with Google Checkout which is like Paypal. It is free, there's no contract and I'm only charged when a transaction is processed. It's used mostly for out-of-state customers who have relatives in a hospital near me.
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leeinla

California
21 Posts

Posted - 02/14/2010 :  3:09:25 PM  Show Profile  Reply with Quote
Hi all,

I am getting assignments from individuals. How should I proceed with payment? I usually ask for cash, but should I start accepting credit cards? If any of you been in my situation, please let me know how you dealt with it? How much does it cost to have a credit card terminal and when is it worth to do it?

Thanks,

leeinla
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