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Shadamae

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Reply with quote  #1 
Hey all. I wasn't really sure where to post this, so I thought I'd start here. A little background: Our studio has implemented an online payment system within the past two years. It's a great convenience on both sides - I thought. I've always had a credit amount on my account and never really had to worry about those last minute charges for tights or hair piece etc.. Recently our financial status has changed slightly. We only put what we owe on the account and never have that big cushion anymore. Our first full competition is coming up next month and the fees were added to my online account as such. $559 was added and I paid $500 online a week ago. I was going to pay off our balance tonight and I received a "reminder" email saying that my competition fees were due tonight payable by cash or check only and my online payment couldn't/wouldn't be used toward the comp fee. Um, they already have a processed payment of $500. Now they want a check tonight which means I would be paying the comp fee twice. I've never been made to pay by check before. No. They are now refunding my $500 payment and I'm giving them a check for the $559. Doesn't the money go into the same account and then the studio submits one big payment for the comp? Someone help me understand please. I mean I'm glad to not have to double pay but I'm just shaking my head trying to understand the reasoning for this pay by check for comp. I hope I don't sound crazy. thanks!
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dancer1234

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Reply with quote  #2 
I know a lot of studios will not submit your dancer for a competition until the fees are paid in full for that competition.   So maybe to keep their accounting straight, the person handling the finances for the competition team maybe can not draw from the Tuition side of the account and thus they want to keep things separate.  (Honestly I think you could do that with software or a spreadsheet, but everyone does it a bit differently)

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melissa745

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Reply with quote  #3 
Our SO has asked that we pay comp fees by check or cash because she doesn't want to pay the cc fee for those payments. She includes the cost of the cc fees along with the other business expenses into the tuition, so we can pay for that online, but since she charges us what the comps charge her, there's no cushion to cover that fee - which can be as high as 4 or 5%.

Its no big deal for most of us, and I suppose she would make an exception for anyone who needs to use the card.
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Marie123

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Reply with quote  #4 
Our costume and comp fees have to be paid by cash or check. Tuition can be paid by credit card. I think it's because of what someone else said about the credit card fees.
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Shadamae

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Reply with quote  #5 
In can understand the extra fees and such with credit card payments. It's just that my confusion was that my online payment (from my bank card) had processed already and they had that money. Now they're refunding it to my bank account only for me to write a check from the same bank account that already given them the money. Eh. I guess it doesn't matter. I'm not losing anything out of it. It just seems weird.
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beachgirl

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Reply with quote  #6 
That does seem weird. I wish we had an online payment option. We can pay by cash, check, or CC but they will add the 3% charge if you pay by CC so I always write checks. 
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dancedivasx2

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Reply with quote  #7 
Does not make sense they would ask for the full amount by check and not just the $99.00. I wonder if they realize they have to pay a percentage on that refund to your CC. Based on 3% they lost around $30.00 between the original charge and refund. Not to mention it may take like 3 to 5 days for you to see the refund on your account.
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melissa745

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Reply with quote  #8 
Quote:
Originally Posted by beachgirl
That does seem weird. I wish we had an online payment option. We can pay by cash, check, or CC but they will add the 3% charge if you pay by CC so I always write checks. 


I'm pretty sure this violates the contract of credit card processors, if not the law. You can't charge the fee or more for using a credit card. You can offer a "cash discount," but not added fees. Your SO should be careful. If the wrong person finds out the credit card people will pull her account and she will have to return to an all cash business.
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NCKDAD

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Reply with quote  #9 
Most studios don't increase the price of competitions much so what you pay them goes directly to the competition for the most part. Depending on how close to the money being due they could have wanted check or cash because it clears the bank quicker or because Of the CC fees (which relates the fact that most studios don't charge a lot extra so if you are using a CC then the processing fee is cutting into what the competition is owed or the small profit the SO may make.
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Phx115

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Reply with quote  #10 
Quote:
Originally Posted by melissa745


I'm pretty sure this violates the contract of credit card processors, if not the law. You can't charge the fee or more for using a credit card. You can offer a "cash discount," but not added fees. Your SO should be careful. If the wrong person finds out the credit card people will pull her account and she will have to return to an all cash business.


Our studio charges 3 percent for credit card payments, too.

I'd like to bring it up, but I don't want to be the agitator. Seriously.
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Shadamae

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Reply with quote  #11 
It's a difficult call. Some states don't allow it but if the contract with the card says certain things then a fee can be added. It's been an ongoing battle.
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