- This topic is empty.
August 26, 2010 at 7:31 am #969637::
I’m about to open a business account with Bankwest and I see they also offer Bpay services for my clients to pay me.
Just wondered if anyone uses this option, what sort of costs are involved and is it easier for clients or more of a gimmick?
ThanksAugust 26, 2010 at 8:25 am #1039737smallsparkMember
- Total posts: 42
I checked out BPay a while ago. I can’t remember the exact figures, but they (Westpac) wanted in the order of hundreds of dollars just to set up the account, let alone considerable fees on each transaction.
It would be nice to give my clients another payment option, but not if the costs are prohibitive.September 10, 2010 at 5:19 am #1039738roxMember
- Total posts: 7
Benefits.. So many.
I get paid in checks with take three days to clear, but if I can pay a bill/ supplier using Bpay then I can debit my account even with a zero balance.September 13, 2010 at 10:10 pm #1039739Blue Sky BookkeepingMember
- Total posts: 41
Why not just provide your bank account details so your client can do a bank transfer. I nearly always use this option even when the supplier offers Bpay as well.
Cheers DebbieJuly 27, 2013 at 2:21 am #1039740::
Currently thinking about this option again… wondered what people’s thoughts were.July 27, 2013 at 9:43 am #1039741CGMember
- Total posts: 101
I don’t know, but I assume being part of the BPay system costs. You would need that unique BPay code number.
Whereas if you simply ask your clients to pay by direct bank transfer, they do it through the “Pay anyone” option. I do recall that we used to pay our internet service provider via “Pay anyone” and then they offered us a BPay option. I don’t think using it cost us any more or makes the payment any faster, so I’m not sure why any client would prefer BPay over “Pay anyone”. Open to correction on this.July 28, 2013 at 11:51 am #1039742KellyBMember
- Total posts: 65
I guess it depends on your client base, whether they are paying you well enough now with the options you offer, and if not, is it worth the extra costs to give them an extra option.
In terms of cost, my last employer used B-Pay (through MYOB), and the costs were roughly $2 per payment plus 2% credit card surcharge (they are just rough figures through to give you an idea – someone else may have more accurate ones)
If I see someone has the option to pay via b-pay or direct credit, I will usually take the B-Pay option, as it shows me the payee name that correlates with the B-pay number, so I can double check it (as opposed to me checking the account number 10 times before I press submit!!) But basically if I am sitting at my computer, ready to pay a bill, I dont really mind how it gets done – I am not sure having that extra option would really encourage payments any more than what you have now…July 28, 2013 at 11:54 am #1039743KellyBMember
- Total posts: 65
Actually on second thoughts, the b-pay option may open up the ability to accept credit card payments if you dont already.
That is the other reason I choose B-pay, so I can get rewards points on my cc!July 28, 2013 at 10:54 pm #1039744LindzMember
- Total posts: 254
Not sure if this is an issue for you but BPay gives people the option to pay you larger (non credit card) amounts that are outside of their usual ‘pay anyone’ daily limit.
LindsayJuly 29, 2013 at 12:27 am #1039745The Copy ChickMember
::CG, post: 168004 wrote:I don’t think using it cost us any more or makes the payment any faster, so I’m not sure why any client would prefer BPay over “Pay anyone”. Open to correction on this.Lindz, post: 168075 wrote:Not sure if this is an issue for you but BPay gives people the option to pay you larger (non credit card) amounts that are outside of their usual ‘pay anyone’ daily limit.
- Total posts: 963
Yep.. my bank only allows me a relatively small ‘pay anyone’ limit each day, whereas I can transfer substantially more from the same account using BPay, so it may depend on how large your invoices areJuly 29, 2013 at 1:13 am #1039746bluepenguinMember
- Total posts: 1,026
I personally don’t see much benefit in using BPAY when you can direct deposit, but I offer it on my invoices (through MYOB) and plenty of people use it.
I find that my more ‘old-school’ clients like it, because they can make a cash payment at the Post Office.July 29, 2013 at 1:48 am #1039747July 29, 2013 at 2:54 am #1039748
- You must be logged in to reply to this topic.