Contract -NSF fees?

[sunshinesmiles]

I'm working on my contract and wondering if anyone has a blurb about NSF cheques and if you charge additional should a payment not go through?

Thanks :) (i'm trying to find examples of contracts online to help with the overall wording and don't want to miss anything!)

[mickyc]

Yes! I charge $30 NSF fee. I have only had it happen once.

[5 Little Monkeys]

Same as mickyc, I charge $30. My bank charges me $15 so I technically "make" $15 for the inconvenience. They are asked to pay in cash from then on. I have had it happened twice (one was NSF and one the mom stopped the transaction but let me know...she was having issues with her bank. She paid me in cash that day and also the fee) I allowed her to use cheque still but she usually paid in cash though.

[Lee-Bee]

Yes, and payment in cash before the child care resume care. With the missed days paid (if they don't have the cash right away) and future payments in cash.

[Cadillac]

I usually let it go the first time if they fix it right away (I dont get charged by the bank) but if it happens again then i charge a fee of $40 and future payments must be etranfer, cash, money order, etc.

Sometimes things happen and its embarrassing enough so i try not to make a big deal out of it.

my contract does state $40 from the first cheque though to deter any 'purposefully bad cheques'

[Wonderwiper]

Same as Cadillac. I have the blurb in my contract but have never enforced it. I have only had it happen once. I didn't even realize but the Mom called me horrified that her check had bounced! They brought me cash the next day and continued to pay by cheque without any problems.

I think you can use your judgement. It will become obvious if it is more than an honest (embarrassing) mistake. Put the blurb in just in case but if people are repeat offenders you have bigger issues than a NSF fee!!

[Crayola kiddies]

When I used to accept cheques I had a $50 NSF fee.... Now I only accept cash and emt and its always on Fridays for the following two weeks.

[Busy ECE mommy]

$40 NSF fee here and $40 per day that they are late until the NSF money has been replaced.
Fees are paid 2 weeks in advance.

[gravy_train]

yes! you need an nsf fee and a blurb about follow up payment (ie you reserve the right to dscontinue that method of payment). i would also add a late payment fee if parents pay by cash or emt ad enforce it.
specify not only the day that payment is due but also the time, otherwise you will get those parents who email you their payment at 11pm on the day it's due.

[sunshinesmiles]

Thanks everyone - very helpful!!!