For my business, I only accept checks and cash. I haven't done credit cards because I don't want to deal with the hassle of merchant accounts and fees and everything associated with it.

Also, I accept checks because the business I run is very niche, and generally not something you would purchase when funds were tight (it's a very specialized, very boutique business). But, in the past month, I've had two checks bounce on me.

I don't make a TON of money doing what I do, so generally, when the checks bounce I go in to "oh shit" mode and am overdrawn, etc etc.

So... I want to start eliminating accepting checks. But I don't want to do "only cash" because I want to stay legitimate.

I was looking in to Square iPhone app, and it looks pretty promising. I would love to be able to use my iPhone as a credit card device.. and I'm sure my clients would love to be able to use credit/debit cards.

Any advice? Programs? What I should do?

 

Paypal?
Direct deposit?

 

Paypal gets too iffy.. I've thought about it. I think they have apps for the iPhone.. but Square is Free, Paypal is not.

Also, I don't want to wait until they are ready to paypal me the money.. because they "may forget" and "lose their phone" all at once... judging my these dumbass bounced checks, I wouldn't be surprised at this point....

 

Debit cards? Same as a check, but with plastic and you can verify funds immediately.

Also, is there a way that you can immediately verify funds with a check? You should be able to scan in the info (routing & account numbers) and get the money immediately. Basically an EFT-type thing?

 

I'm mobile... that's also why I want an iPhone app. I don't have a desk or office or anything to sit at and verify funds.

And exactly.. debit card IS just a check, but when I swipe it right in front of the client, i'll know right then whether they can pay for it or not. Instead of a bounced check, and overdrawn accounts.

 

Do you bank with Chase? If you do they have a pretty good business application for mobile phone. Where you can type in the debit card info or credit and it will process over the phone for you. Go talk to your local Chase rep and see. I'm not sure if other banks have that kind of app. though

 

Nope, no Chase.

 

I am obviously not in your situation.. but I would just switch to cash only on new customers and customers who have bounced, and accept checks only from customers you trust

 

On a personal note; as a customer that didn't know you, I'd be kinda iffy about having someone punch my credit card into their iphone. Just doesn't appear very legit (even though I'm sure it is).

 

Well, square is a card swiper for the iphone. It's actually pretty neat.

I hear where you're coming from. And if they didn't feel comfortable.. there's always cash, right?