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NON-CASH PAYMENTS

A basic tool for settling finances of your business with partners and offices will be a bank account. In the article Bank account of entrepreneur entered in the CEIDG you will learn more about the rules concerning running of the account.  There is also practical information on opening a business bank account.

The modern business is increasingly moving away from  handling cash for non-cash payments.  For you, as an entrepreneur, the advantages of using non-cash payments may be, inter alia the cost reductions, time saving, more control over the transactions carried out and global scope.  This is not all.  Remember that non-cash payments also mean greater comfort for your clients who prefer to keep in their wallets cards instead of cash, or prefer online payments.

How to implement non-cash payments?

Implementation of non-cash payments (e.g. installation of terminals for receiving card payments or online payment system) is not a difficult matter.  On the market there are many companies which offer such a service.  A first step could be for example contact with the bank where you have the account and finding out whether it offers such a service e.g. installation of terminals for handling of payment by cards.  In the article How to accept card payments you will learn how to make non-cash payments in your point of sale.  If you want to receive online payments on your website, you can find useful information in the article How to accept e-payments.

By choosing to introduce non-cash payments, no matter whether card payments or  SWIFT transfers, analyse the following issues:

  • Costs -  operating non-cash payments will mean to you additional cost ( the fixed fee charged for each transaction by a payment operator).  Find out how many of your customers expect that you will accept non-cash payments.  Perhaps most of them will continue to pay in cash (or by cards) and there is no need for you to enter into on-line payment systems.
  • Selection of offer - always compare offers of a few companies that  provide payment services.  Find out exactly the costs of service (often involved not only charges but e.g. fees for reports on transactions, installation of service, the cost of  transfer on your account). See also how many types of payments a given company offers (e.g. how many banks it cooperates with).  A good idea is to find out what are the views of users on the Internet on the quality of services of the companies concerned.
  • Negotiation of conditions - the financial terms and conditions that operator of non-cash payments will offer you are often not rigid and depend on turnover, industry and type of services.  Insist on obtaining the most favourable conditions.
  • Comfort for customer -  remember that costs that you pay for maintenance of payments, aim to increase the comfort of customers.  Make sure that payment system meets their expectations, react to their needs and opinions.  Situations where, for instance, a seller arbitrarily sets the minimum amount on which payments by cards may be made can lead to a loss of valued customers.

Your rights and obligations in cooperation with the non-cash payments market operators are laid down in the Act of 19 August 2011 on payment services.

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