Using a service to process credit cards can save a lot of time and worry.. Most coaches either use Paypal (a way to send and receive money through secure email) or a credit card processing service, known as a merchant account.
When you use Paypal, both you and your client set up Paypal accounts. Then, the client goes into their Paypal account and sends money to you each month. It is deposited directly into your bank account. You can also send an invoice to your client through Paypal.
The advantage of a merchant account is that when coaching fees are due, YOU go into your service online and charge the client's credit card. YOU have control, and you do not have to ask for or wait for the client to send you money.
When should you get a merchant account? When you have between 5-10 clients -- sooner if you don't like waiting for checks to arrive in the mail, or your clients to pay you with Paypal.
There are fees involved in setting up a merchant account. But to me, they are well worth it since they help to improve the flow of coaching from one month to the next. You don't have to have the "money conversation" every month.
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