There are many good reasons why we all stopped using film cameras. You had to wait to get results, there were a lot of manual steps and you never knew if you got the picture till later, after processing. Check payments for registration are the same way! Payments by check cause delays, involve wasteful manual steps and increase risk for your event. Even though only a small percentage of your attendees may ask to pay by check, check payments are a bad idea!
Before you offer check payments for registration and other payments, consider the following 3 essential points.
1) Checks mean delays in receiving your money
It takes time to receive check payments. It takes more time for you to manually process the payment and get it to the bank. The bank then takes time to process the funds. All up check payments can add weeks to your receipt of funds.
2) Check payments create work for you
Who needs that? You’re busy and this is why you got event software in the first place – to let the computer take care of detailed jobs like payments.
With check payments, you must do multiple manual tasks for EVERY check you accept! You have to:
- Watch to make sure your all checks are received before the event
- Collect the check
- Process the payment and receive funds
- Deal with bad checks
- Enter each check payment received in your event software
- Communicate and coordinate with your buyer when there is a problem
3) Check payments are riskier
A small number of all payments will have problems. With check payments, this becomes your headache to sort out. This often leads to awkward and uncomfortable conversations with your registrant and your bank.
Simple things like poor handwriting on the check itself can cause processing delays. More serious issues like bounced checks can cost you money as most banks will charge you a fee for each dishonored check.
Check payments are a bad idea!
- create delays in receiving your money
- create work for you
- are less certain
The best thing to do is eliminate check payments altogether. If that is not an option for you then minimize the impact to you and your event.
It may be tempting to accept checks but most planners quickly realize the pros of check payments are quickly outweighed by the cons.
Protect your valuable resources of time, money and stick to credit card payments wherever you can!
Easily accept credit card payments for registration and ticket sales with ClearEvent.
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In the meantime, Happy Planning!