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The best way to get paid as a contractor
The best way to get paid as a contractor is to offer whichever your customer will do on the spot, and that usually means a credit card alongside cash and checks. Here's how each one compares.
How each one compares
| How | Good | Watch out for |
|---|---|---|
| Cash | No fees. Yours right away. | Fewer customers carry it. You have to record it. |
| Check | No fees. Familiar on big jobs. | A trip to deposit it, and it can bounce. |
| Zelle | Moves between banks fast. | Both people need it, your bank sets limits, and there's no invoice with it. |
| Venmo or Cash App | Quick for customers who use them. | Business payments carry fees and should go through a business profile. |
| Credit card or Apple Pay | Almost everyone can pay, on their own phone, on the day. | A fee: Stripe's is 2.9% + 30¢ for a US card. |
Is the card fee worth it?
On a $310 job, Stripe's fee is $9.29. Compare that with an unpaid invoice you chase for three weeks. You can work out any amount with the card fee calculator.
What to do
Keep taking cash and checks. Add a card option so nobody has a reason to wait. Knockround sends an invoice with a Pay button, and you mark cash and checks paid when they come in, so it's all in one list.
Questions
Should contractors accept credit cards?
If some of your customers would pay sooner with one, yes. You'll need a way to take them, and a link on an invoice needs no card reader.
Is Zelle safe for contractors?
It's fine for customers you know, but payments are hard to reverse, so wait until the money has actually landed before you hand anything over.
Try it on tomorrow’s work
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