I'd like to know how fellow cottage operators hold deposits on rental items. Currently for payments on cakes I use paypal and a square reader. If I run a deposit through either they charge a fee on both transactions (the initial deposit and then the refund). I've placed a deposit before where the company took my credit card info but they wouldn't run the card unless needed. I'd like to do something like this but, am not aware of paypal offering this option and in order to hand enter with the square I need lots of extra info. Any suggestions?
AI would avoid PayPal if possible. We took deposits for cake stands via cash or check.
AI have them write a check that I give back to them when they return the item in good condition. If there were any damage, I would hold the check and decide how much (if any) to return. Never had to do that though.
AWe only take cash deposits for equipment.
I won't accept card/Paypal/cheques for deposits (cheques can be cancelled immediately!)
It's cash or direct bank transfer!
Original message sent by BrandisBaked
I have them write a check that I give back to them when they return the item in good condition. If there were any damage, I would hold the check and decide how much (if any) to return. Never had to do that though.
Me too, if it's not returned by the date stated in our contract (typically 3-5 days) I cash the check. I've never had any issues thankfully!
I take a check, cash it and then when the item is returned in good condition, I give them a check and they cash it for their deposit.
Thanks for all the advise.