Payment ideas for small business.

julia12

Hi folks,

I'm thinking of trying to start up a very small, home-based transcription business. Do you think that asking for payment by PayPal would be the best idea? That's my question!

Thanks!

trailingspouse

The more ways people can pay you the better. There's no reason why you can't use paypal, but not everyone has a paypal account so you might also want to use the BACS system, accept cheques, and so on. It really depends how people would prefer to pay you. Don't make it difficult for them!!

chalkie99

Customers don't need a PayPal account to pay via PayPal.

Simply advertise that you accept most popular credit and debit cards, that they are processed securely through your PayPal payment processor and stress that the customer does not need to sign up to do so as this is a popular misconception.

Sophie-1

Probably best to use Paypal and a bank account then you will be able to accept all methods of payment.

Mistral001

If you are getting work through freelancer sites, check if you can use paypal to receive payment. I was caught out by Elance.com who require that your paypal account is set up in US$ if you want to use paypal for receiving payment (or paying freelancers if you are a client). An ordinary paypal account will accept foreign currency of course, but paypal insist on you having one that only deals with US$. In effect you have to set up a separate Paypal account.

greyteam1959

Don't forget that the will be charges for accepting PayPal.....a BACS payment will cost you nothing to accept.

Mistral001

mervyn11 wrote: »

Don't forget that the will be charges for accepting PayPal.....a BACS payment will cost you nothing to accept.

My bank charges me £6 for receiving a BACS payment unless the payment is coming from the same bank or a sister bank in which case it is free.

greyteam1959

Mistral001 wrote: »

My bank charges me £6 for receiving a BACS payment unless the payment is coming from the same bank or a sister bank in which case it is free.

What !!!!!!!!!!!
You are joking are you not ??
I have never ever been charged either personally or on my business account for receiving a BACS payment.
You must be on some sort of an expensive tariff there ??

Opinion

Mistral001 wrote: »

My bank charges me £6 for receiving a BACS payment unless the payment is coming from the same bank or a sister bank in which case it is free.

Madness!!!

Spuggy200

Mistral001 wrote: »

My bank charges me £6 for receiving a BACS payment unless the payment is coming from the same bank or a sister bank in which case it is free.

Woah, time to move banks then...


My advice, for your transcription business, would be to join as many freelancer sites as you can: Elance, Freelancer, PeoplePerHour, Scriptlance, SEOClerks.

Can I ask why you want to set up something 'very' small? Why not big? Why not push yourself? You could hire people. You could aim higher, contact larger companies, and take your business further. If you aim low, you'll eventually end up low.;)