October 26, 2017 at 3:15 pm #113444
Thanks so much for all that information on small business and credit cards.
I was wondering if there is a need for a pre-authorized form with a program like Square. We just got a Square for our personal training business where we will change the client monthly for their personal training sessions. So with the monthly charge do we need to have them sign a form? If so does the form need to come from the bank or can I type one up and have the client sign off on permission for us to charge their card monthly?
TiffanyOctober 26, 2017 at 3:26 pm #113694
You bet, and thanks for reading!
Square handles the pre-authorized monthly recurring payments a bit differently than, say, Quickbooks, because it’s all done electronically and you don’t need the signed form.
BUT – you can do it. Here’s how:
- You invoice your customer the first time, send invoice via email
- They enter their credit card to pay and elect to save their card on file. This is when they give their authorization.
- You set up automatic recurring invoices in Square
- Each month when your invoices automatically generate, the cards on file are automatically charged
The thing to understand about Square vs other payment providers is that Square connects the recurring payment feature to invoices. So, invoices must be run to trigger the auto pay.
Here’s their how-to page to explain it further: https://squareup.com/townsquare/how-to-recurring-payments
Here’s how customers save their card on file: https://squareup.com/help/us/en/article/5770
I hope this is the answer you were looking for!