I promised I’d let you know how I was making out with Square, the credit card processing tool that attaches to a smart phone.
The answer is GREAT! I gave all of my students notice that beginning in April, I could start taking payment via credit card. Many of them showed up with card in hand, happy not to need to write a check. A few of them forgot it was payment time, but had a card on them.
I had ZERO late payments this month. How awesome is that? I didn’t have to hound anyone, we just took care of business. The fees are really minimal, and I can deduct them as an expense, so I’m really not losing anything. The money is automatically transferred directly to my bank account within 1-3 days, so I don’t have to even drive to the bank to deposit checks and wait for them to clear. Plus, I don’t have to juggle anything in my own household budget while I wait for people to remember their checks!
If anyone is looking at this as a tool to use with their teaching studio or other small business, go for it!
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