NSF cheque

[JennJubie]

So I just got off the phone with one of my clients. My bank mailed me a declined cheque. My client was unimpressed with the added charge that I have applied to their fees for the NSF. What do you ladies charge just out of curiosity?

[madmom]

I charge whatever fees are charged back to me. I will not absorb any of the charges. I will only tolerate it once by the way then I am paid cash only. Good luck

[Momof4]

My contract states $50 and that no further cheques will be accepted. It doesn't actually cost anything for me at my bank, except that my rent may bounce, etc, so my charge is for stress! It is also meant to show families that I am serious about being paid on time.

I've only had it happen once and I considered the extra $50 income so I included it on the weekly receipt for childcare costs to be fair.

[JennJubie]

My charge is $30. I'll also include it in the receipt. This is the first time this has happened, but I'm applying the charge for two reasons. 1) It's stated in my contract 2) I also want to let this family know that I am serious. My life is far too busy and hectic to have added stress.

[BlueRose]

This is my NSF Policy:
All checks returned NSF will be charged an additional $25.00, any applicable bank fees and late payment fees until payment is received.
After 2 NSF checks, method of payment MUST be cash.

[apples and bananas]

A $35.00 fee is due with the cash payment. Once a client bounces a cheque they are not aloud to use a cheque to pay again. Money transfer or cash only.

I've never had a cheque bounce... (knock on wood)

But I do remember bouncing cheques when my kids were in daycares. I always caught it before the provider even did and showed up that day with cash and offering to pay any additional fees. None of my past providers every charged me anything extra. Maybe because I was so efficient with paying.

[playfelt]

This is what my contract says:

NSF CHEQUES: Parents will be notified of any cheque returned NSF. The late fee will apply from the date the cheque was not able to be posted to my account until all the fees owing are paid in cash. Parents will also be responsible for paying any fees I incur as a result of the NSF cheque. Following an NSF incident, payments must be made on time and by cash until I reinstate cheque privileges.

Basically in the past parents have written me a cheque knowing full well it would bounce but figured they had about 10 days before the bank would process it and return the cheque. What my method means is that the NSF cheque is equivalent to not getting paid so they are charged late fees from the date the payment was due to to the day they bring the required daycare charges plus late fees. The late fee is $5 a day including weekends and holidays. So for the 10 days they are $50 already before it takes them a day or two to get the money. Failure to have their fees up to date by the weekend would mean in arrears and there would be no daycare Monday morning without cash in hand.

[monkeymama]

$30 plus any additional charges I incur from bank as a result. Ive never had to charge anyone, but I wouldn't hesitate especially if they didn't give me a heads up first either

[playfelt]

The advantage of leaving it open ended in your contract saying "responsible for any fees I incur as a result of an NSF cheque" means that if you have a payment bounce and are charged a penalty because you thought you had enough money in your account to cover the fee then the parents are responsible for paying your penalty since it is their NSF fault not yours.

Something to remember when making a contract - it is good to be specific so there are no misunderstandings but don't make the wording so rigid that it doesn't cover all possible scenerios.

[treeholm]

I have it in my contract that they will pay a $50 NSF fee, and pay cash or by electronic transfer after that. I also included that income in my receipt, and counted what my bank charged me as a bank expense.