Even in this day and age most independent home improvement contractors and home repair specialist don’t have the proper set up to accept online payments. The reality is most medium and small sized home improvement companies prefer paper, whether it’s cash or check. This is a very real struggle as most customers have moved on to credit card and online payment wallets. The clash of the old-school and the newage payment trend is forcing young customers to dust out their checkbooks and watch tutorial videos on how to write checks just so they can pay their renovation contractors.
Why It’s Sometimes Necessary to Overlook the Available Payment Options?
The method by which a contractor is paid should not even be in the top 10 list of priorities during the hiring process. There are several highly talented home renovators who simply do not accept credit cards because they don’t have the necessary setup. Some contractors are even reluctant to pay the processing fee associated with accepting credit card payments. While these contractors don’t accept modern payment methods they might offer a great deal or have more experience.
Credit Cards: Now, because renovation work is generally expensive, a lot of customers insist on paying using credit cards. The flexible repaying option of the total debt coupled with the convenience of swiping a card makes this the most favored way of paying for renovation work. From the contractor’s point of view, the processing fee does cut into the profit. This is why some contractors add the credit card processing fee to the final bill.
Convenient: Credit cards offer the fastest and the easiest way of making a payment.
Paying in Easy EMIs: Customers can convert the entire amount into a loan and pay it in easy monthly instalments.
Some Independent Contractors Don’t Accept Credit Cards: The cost of buying credit card terminals and the bearing the processing fee often keeps small contractors from offering this payment option.
Paper Checks: The paper check still retains the title of being the most widely accepted payment option. When the memo section is filled up properly, customers create a solid paper trail that can be referred to when settling disputes. For example, customers who hire home renovation companies which offer both roofing and plumbing service can pay them using two separate checks. Check with a memo that reads “Complete Payment for Plumbing Service” leaves no room for future disputes. Apart from accepting them from customers, contractors prefer using cheap checks for business operations. Local contractors often pay their employees and utility bills using paper checks.
Widely Accepted: Checks continue to be one of the most widely accepted payment methods. Even small contractors with no bank accounts can be paid using bearer checks.
Memo Section Allows Attaching the Purpose of Payment: The memo section allows customers to attach invoice numbers and other details about why the payment was made.
Work Can Get Delayed Due Slow Processing Time: Unless deposited using mobile banking apps, checks need to be presented at the bank. The payment can take days to get credited into the account, which can end up stalling the project.