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Sorry if this is not the answer you were looking for. But we have just started paying a ton of our invoices with American Express. Am Ex ran a list of all our vendors and told us which ones accepted AMEX WITHOUT an additional fee. This is enabling us to rack up a ton of points which our family uses for vacations. We never use the AMEX as a form of "cash flow" - we earmark the funds when they come in just to ensure we are never short of cash when the bill is due.
We accept all credit cards, and the merchant agreements don't allow you to accept credit cards for some payments and not for others. As others have mentioned, you're now allowed to add on service fees, but only to the extent that you're paying them. I think that Amex maxes out at 2.9%, so that plus the transaction fee is all you can charge.
Also, make sure that you're working with a merchant processor who is charging you interchange passthrough pricing, rather than flat percentages. You may end up saving a significant amount of money. (If you need additional info on the passthrough pricing, let me know.)
But, as mentioned before, we never want to turn down money and find we get paid much more quickly (often upon receipt) by credit card. So the fees we pay are worth it to us, and in my opinion are a cost of doing business. Which is also what I tell our vendors when they don't want to accept our Amex. :)
Does anyone use Corporate Spending Innovations (www.csicorporatecard.com) to pay their VENDORS? In doing so, agencies can reduce accounting costs AND earn cash rebates through this program. If anyone is interested, please email me at email@example.com.
Jumping in a little late on this thread but we accept ANYTHING our clients want to use. Among the many hats I wear is Finance and I will be obvious, I don't have a clue what we are being charged from a percentage standpoint and I really don't care. I assume 3% on credit cards and don't pass that along to the client. Getting the money 30-45 days earlier is worth the percentage lost.
I love what kschaefer mentioned. We actually pay our rent on our Flex Perks card. The points alone equate to 7 free airline tickets annually one of which was used to get to Orlando last February! :)
Ok.. here I am again... and wow, a little surprised at the comments, especially from a financial standpoint. Our clients average days to pay is 35 days... I do think foregoing 3% of this is a lot. Sure I'd love to participate in allowing our clients to rack up on reward points, but I'm still not convinced doing so, at a cost to the agency, is a benefit to us. Most of you said you didn't know, but can anyone share an example of how much in annual dollars these fees are costing you? Thx again!