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Hi everyone, Just a Heads Up
There is a service that every Daycare should use !! Very interesting, it's called Telecheck, They offer a protection and guarantee on Paper cheques!! so since i got the service i don't worry at all about NSF cheques, I accept all cheques from all parents and if there is an issue with cheque when I do my deposit, Telecheck will pay me the amount straight!!!!
Good information to have. I stopped accepting cheques a couple of years ago. E-mail transfer, cash or credit card now - The Square is a free device which you plug into your cellphone and use your Wifi - swipe their card, they sign, job done. There is a 2.75% charge per payment transaction - I pass that on to the parents if they want to pay by credit card.
Also RBC launched a similar devise to the Square a couple of months back. Same sort of deal - free gadget but charged a percentage per use - theirs takes credit or debit payment.
I don't accept cheques at all ... Emt or cash only
Thanks for the info just keep in mind that the chq service will cost you only 1% from the check amount. Very Cheap!