Would accepting CC payments increase business?

[AdamSmith]

A friend who escorts (home base Boston) takes Square, and says about 20-25% of his clients pay that way. Especially repeat clients find it convenient.

 

PayPal Business now also offers a physical card reader that plugs into your phone similar to Square. Although as frequently noted here, PayPal is not a great choice as they will freeze funds at the drop of a hat if they suspect escorting.

[LADoug1]

I also think it depends upon how many clients are booking at the last minute. If your rates are unusually high then it would occur to me that most of your clients booking ahead of time have enough time to get the cash needed. They plan for it the meeting.

[bigvalboy]

Daily limits have been mentioned. On occasion when making large purchases, washer, dryers, TV's, escorts that sort of thing, I have had my daily limit increased to any amount by making a quick phone call to the banks 800 number, but then again, while that might solve the amount you are getting, as someone mentioned, the problem is that it is in all 20's.

 

For someone with little or no self control when spending...the availability of using a credit card for escorts, could spell financial disaster. I wonder what Suze Orman would think of this idea...

[Marlfox]

Welcome to the Forum, Marlfox. I (we ) hope you enjoy your participation with us.

 

Gman

Thanks Gman, I'm sure I will.

[+ WilliamM]

Long ago and far away (just a few blocks in my case) some escort agencies took credit cards, including American Express. It made things a lot easier, especially if you hired the same few escorts regularly (no concern about copying credit card numbers).

[mike carey]

when I was in New York I had the same problems as Mike, the ATM's dispensed 20's and sometimes had a limit of $200 per withdrawal.

I find the inflexibility of ATM owners in our two countries to be perplexing. It's not as if the ATMs can't be programmed to issue more notes (er I mean bills). When I was travelling in South America over 10 years ago, in most countries the machines would dispense either the local currency or green. I withdrew $100 in Ecuador and received 4 x $20 1 x $10 and 2 x $5, and in Peru a $200 withdrawal was delivered as a $100 and a collection of smaller bills.

[jawjateck]

I have used a CC to pay a provider who used one of those square thingies. I have no problem doing that with someone whose rep is good. Cash is such a pain. 20s from ATMs......arghhhhh....unless as noted you happen to use a casino ATM. I have to go to the bank this week and retrieve cash. Hate it.

[jackjackjack]

Cash is king here. Chase's ATMs dispense $100 bills, btw.

[mike carey]

Chase's ATMs dispense $100 bills, btw.

Thanks for that information J3 - I just did a google search and apart from the entirely unhelpful advice to use a credit card, one response in an advice blog commented that Chase only offer that service from ATMs inside their branches, not elsewhere. Do you know if that is still the case (or ever was)?

[jackjackjack]

Yes, at their branches. I don't know much about other banks.... although BofA is upgrading their ATMs, slowly.

And you can access Chase's ATMs 24/7.

[jawjateck]

I did have one escort last year who banked at the same bank as I did who wanted a cashier's check. I think he is incorporated, and this was the best way for him in regards to taxes.

 

A couple of companions have requested to be paid with a bank check. These were larger sums, so I had no problem with it, especially since my personal info was not on the check. I reckon it helps to have a good rep as a client.

[jawjateck]

Oh and since we are becoming a cashless society, bankers and tellers are becoming way too nosy about why we withdraw the sums we do. Too long to tell here, but I have an infuriating story about withdrawing a few thousand bucks cash awhile back. I closed my account with that bank and ended my biz dealings with them.

[MikeyGMin]

Oh and since we are becoming a cashless society, bankers and tellers are becoming way too nosy about why we withdraw the sums we do. Too long to tell here, but I have an infuriating story about withdrawing a few thousand bucks cash awhile back. I closed my account with that bank and ended my biz dealings with them.

 

Good point. I just saw a list of things that will be disappearing over the next decade. It included both cash and ATMs. Who knows how accurate the prediction is, but we may all need to adapt.

[mike carey]

Thanks J3. It's easy to understand why banks only issue small bills through ATMs now that cash is often only used only for minor purchases and credit and debit cards are ubiquitous. I know I even use a card to pay for Maccas. Driving back from Sydney to Canberra yesterday, I noticed that a guy selling fruit at the roadside now has a sign saying they accept EFTPOS. If someone selling fruit from the back of his truck takes cards we can't be too far away from everyone doing so. But some transactions just need (or we think they need) to be conducted in cash.

 

Out biggest note is $100 and there is a disproportionate number of them on issue but they don't appear to actually be in circulation. The Reserve Bank worries that their principal use is for the proceeds of crime. Another perceived use is for people who want to receive government benefits that have a means test - the theory is that rather than leave their money in the bank where the government will see it, they cash it out and hide it in their homes.

 

A couple of companions have requested to be paid with a bank check.

That would suit me perfectly, although one from an Australian bank might elicit some concern (even though it would be drawn on a US bank not the Australian one). One drawback is that I would need to know the companion's real name (unless of course he ran a bank account under his stage name).

[jawjateck]

Yeah, those guys gave me their names.

[+ Keith30309]

Cash cash cash for me. Every electronic transaction leaves a trail of breadcrumbs from point A to point B no matter how hard I might try to obscure it.

My bank's ATM daily limit is $600 and I don't mind making trip(s) to a drivethru ATM or stepping inside and cashing a check. And regardless of the amount I've withdrawn no teller has ever gotten nosy with me (and so long as I'm making large withdraws and not deposits it's none of their business).

 

Also, Chase isn't the only very large bank with $100 bill dispensing equipment - another does as well.

[+ Truereview]

I'm all about eliminating sales barriers and if clients find accepting a CC facilitates the close ...

Really appreciate this statement! Making it easier for me to book you is a big draw for me.

 

I pay cash. To J3's point, if you bank with Chase, you have the option to withdraw in $100 bills in some ATMs across large metro areas. Also, you can change your daily withdrawal to whatever you want it and reverse it later. At least that's how my bank works.

 

I vote you give clients the choice - cash and cc. the mere fact you give me choices and you care about my convenience will likely increase my desire for repeat biz.

 

By the way, how the hell do I find your ad? You've piqued my interest.

[jackjackjack]

If you're concerned about withdrawing large amount from your bank at one time, it's easy to have accounts in different banks, as I do. If necessary, some from here, some from there....

[jackjackjack]

I think I've mentioned this before..... paying with anything else other than cash, it is all traceable.....for the client and escort. . A cashless society benefits the government greatly.

[jawjateck]

I have relationships with 4 banks. Hate 'em all. No good bankers......

 

Anonymity is gone. Anyone who wants to know what we are doing, knows what we are doing. I envision cash will be regulated out of the economy. Either outlawed or taxed for using it and making its use undesirable.

[AdamSmith]

Oh and since we are becoming a cashless society, bankers and tellers are becoming way too nosy about why we withdraw the sums we do. Too long to tell here, but I have an infuriating story about withdrawing a few thousand bucks cash awhile back. I closed my account with that bank and ended my biz dealings with them.

+$1000

 

My accounts are now with a smallish southeastern regional bank that is accustomed to secretive southerners moving their cash around in peculiar ways. Also (ehem) if you should have an ongoing dispute with another state's revenue (income tax) department due to former residence there, it makes it much more difficult for them to get at your accounts when your bank does not operate in that state.

[mike carey]

Despite the better exchange rates you get from ATMs, I'll be buying USD at the airport here before I depart to cover any 'possible expenses' and experiment with ATMs there for future reference. I've already paid for my hotel in DC at an AUD rate through Qantas (yes I had been checking rates before I did so).

[jawjateck]

+$1000

 

My accounts are now with a smallish southeastern regional bank that is accustomed to secretive southerners moving their cash around in peculiar ways. Also (ehem) if you should have an ongoing dispute with another state's revenue (income tax) department due to former residence there, it makes it much more difficult for them to get at your accounts when your bank does not operate in that state.

 

"Secretive southerners" definitely want the freedom to move all that "old money" around.

[AdamSmith]

"Secretive southerners" definitely want the freedom to move all that "old money" around.

"Liquid assets."

 

http://i2.cdn.turner.com/cnnnext/dam/assets/150616134355-moonshine-sutton-still-exlarge-169.jpg

[+ Truereview]

Gotta luv the forum! I just found the info I needed on these two gents!

 

http://www.companyofmen.org/threads/ace-banner-and-tyler-saint.99924/