EFT PAYMENT QUESTION

sun gal · 09-28-2004, 02:25 PM

I am in the process of starting up an EFT program. I have already read all previous messages about doing eft's, but still have a few questions to ask before I actually start it.
Activation Fee? Yes or NO?
Cancellation Fee? Yes or NO?
I think I am going to do $49 for both
So here is my real question...
say someone signed up on sept 20..they then pay activation fee and first month payment right?
If my draft date is the 1st or the 15th..they still would be paying their second payment before a 1 month period has actually passed.
if your draft date is the 1st what do you do for the payment?

BronzeBabe · 09-28-2004, 02:50 PM

Yes to an enrollment fee (although you could have a start-up special especially seeing you are just beginning this program) advertise that you are going to waive the enrollment. Yes also to a cancellation fee just mainly so you do not have people that sign up and cancel right away, if they have a cancellation fee they are less likely to cancel the program. Also make your cancelation fee higher so it turns them away from canceling.

Opal · 09-28-2004, 02:53 PM

sun gal,
Pro rate!

MATT A · 09-28-2004, 03:10 PM

First time VIP's no enrollment. I would state the rest of this in the industry form. We have had great results.

sun gal · 09-28-2004, 03:15 PM

opal,

so you pro-rate every single first payment made.
it seems like alot of work..

MATT A · 09-28-2004, 04:06 PM

Yes prorate how is that a lot of work? Helios does it for us.

tanmommy · 10-01-2004, 09:34 PM

Sungal, I only draft on the 1st and the 15th but I have cutoff dates.That way employees don't have to think about pro-rating and getting wrong amounts. If a client comes in between the 1st - 20th I still draft their account the following month. If they come in on the 21st or after then they are not drafted for 2 months. For example: Client buys on Sept.24th their first payment will be on Nov.5th or 15th. Now their membership is still from the 24th to the 24th of each month. Now lets say they cancel in January, their last payment will be Jan.5th or 15th & membership will end on Jan.24th. It's fair to both client and salon.

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09-28-2004, 02:25 PM	#1 (permalink)
sun gal Waiting Confirmation Join Date: Jan 27 2004 Posts: 25 Rep Power: 0	I am in the process of starting up an EFT program. I have already read all previous messages about doing eft's, but still have a few questions to ask before I actually start it. Activation Fee? Yes or NO? Cancellation Fee? Yes or NO? I think I am going to do $49 for both So here is my real question... say someone signed up on sept 20..they then pay activation fee and first month payment right? If my draft date is the 1st or the 15th..they still would be paying their second payment before a 1 month period has actually passed. if your draft date is the 1st what do you do for the payment?

09-28-2004, 02:50 PM	#2 (permalink)
BronzeBabe Join Date: May 6 2001 Posts: 2,357 Rep Power: 8	Yes to an enrollment fee (although you could have a start-up special especially seeing you are just beginning this program) advertise that you are going to waive the enrollment. Yes also to a cancellation fee just mainly so you do not have people that sign up and cancel right away, if they have a cancellation fee they are less likely to cancel the program. Also make your cancelation fee higher so it turns them away from canceling.

09-28-2004, 02:53 PM	#3 (permalink)
Opal Join Date: Sep 20 2004 Posts: 26 Rep Power: 0	sun gal, Pro rate!

09-28-2004, 03:10 PM	#4 (permalink)
MATT A Police Department Join Date: Sep 6 2004 Location: Awaiting Posts: 15,678 Rep Power: 31	First time VIP's no enrollment. I would state the rest of this in the industry form. We have had great results.

09-28-2004, 03:15 PM	#5 (permalink)
sun gal Waiting Confirmation Join Date: Jan 27 2004 Posts: 25 Rep Power: 0	opal, so you pro-rate every single first payment made. it seems like alot of work..

09-28-2004, 04:06 PM	#6 (permalink)
MATT A Police Department Join Date: Sep 6 2004 Location: Awaiting Posts: 15,678 Rep Power: 31	Yes prorate how is that a lot of work? Helios does it for us.

10-01-2004, 09:34 PM	#7 (permalink)
tanmommy Join Date: Feb 3 2004 Location: Grass Valley, CA Posts: 25 Rep Power: 0	Sungal, I only draft on the 1st and the 15th but I have cutoff dates.That way employees don't have to think about pro-rating and getting wrong amounts. If a client comes in between the 1st - 20th I still draft their account the following month. If they come in on the 21st or after then they are not drafted for 2 months. For example: Client buys on Sept.24th their first payment will be on Nov.5th or 15th. Now their membership is still from the 24th to the 24th of each month. Now lets say they cancel in January, their last payment will be Jan.5th or 15th & membership will end on Jan.24th. It's fair to both client and salon.

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