As some of you may have noticed, we’ve got something a little new to introduce
Let us know what you think
As some of you may have noticed, we’ve got something a little new to introduce
Let us know what you think
How much do easy bank transfers cost?
They’re free until 2023.
And then?
Or your business is so successful that the cost isn’t an issue
Don’t costs always matter for businesses?
Not the only thing
If it’s quicker then it could save enough time to justify it
As nice as it is are there many business not using something like this already via their accounting software?
Many have, but not everyone.
If like @ndrw says, this gives you a handy link and you can input card details, that’s going to be a win for customer and business.
This is the link to the FAQ page, needs fixing. Just under the section for We’ve answered your customer’s questions, too
Similar things def exist.
Where I work, I know our invoices have a big ‘pay’ button which links you to a page where you can pay with card details, powered by Stripe.
But this looks a lot slicker, and the inclusion of easy bank transfers is a cool step.
Passed this on @DaveJ - should hopefully be sorted soon
This is great and cheaper than izettle. I pay 1.75% for face to face cards and 2.75% for a remote link. So it’s much cheaper and easier to do via the Monzo business app at 1.4%. I’ll be signing up. Thank you
We use Xero and it does exactly that (it even uses Stripe) and auto reconciles on the other side of the transaction.
I’m not saying it doesn’t have a place and I’m sure Mozno has seen demand for the feature. I guess I’m kind of thinking out loud about what is the average size of business a Monzo business customer if they don’t already have the means to do this via Xero, Quickbooks etc.
That was my thought exactly when reading the post! @Sheri or @AlanDoe do you know if that means “at least until 2023 and then we might introduce fees,” or “we’re making this free for a year and a bit, and then it will definitely have a fee?”
The difference being is that you need to be a Monzo Business Pro user (£5 per month) to send invoices and have the two working together like this.
Otherwise it’s just like monzo.me for personal accounts. (or at least that’s what it seems like, I’ve not set mine up yet)
I’m so glad they didn’t do this. When I’m dealing with a business I trust, I prefer paying by bank transfer. And for small freelance businesses, bank transfer is a much better way to be paid. For large clients, it’s often easier for them to pay by bank transfer (eg their expense system) than by card (which are often limited to certain employees).
And the fee on a £5000 or £10000 invoice by card
Oof
Business to business is almost all via bank transfer unless you are buying a product on a store interface.
Consumer wise I pay for services from businesses all the time via bank transfer as it’s pretty standard with tradesman, it’s that or cash.
Products for sale I would use a card normally but this is not for a store front as such.
I’d just laugh at any business that wanted a bank transfer off me for anything over £100, anything less I do, do. Anything more, nope jog on, you can have card payment or card payment.
I’d imagine that if you negotiated better rates with stripe , then stripe would just bill you less in the background unbeknownst to monzo.
And I would happily pass on a client that refused to pay an invoice via bank transfer.