"Payroll By Credit Card"
Aug 9, 2015, 7:50 pm
#1
Original Poster
Join Date: Apr 2005
Programs: DL DM MM, Hyatt LT Globalist, SPG Gold, Marriott Gold, Hertz PC
Posts: 2,141
"Payroll By Credit Card"
The July statement for my Delta Reserve Business card had an advertisement for "Payroll By Credit Card" under the Great New Places section.
Has anyone ever used this service and if so what type experience have you had?
Has anyone ever used this service and if so what type experience have you had?
Aug 10, 2015, 5:06 am
#2
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
The website is notable for the questions it does not answer. Apparently this company doesn't actually process payroll, just the card payment to an existing payroll processor, but they don't list the processors they work with, nor the amount of their fees.
Has My Payroll Company Agreed to Participate in This Service?
We work with dozens of payroll companies. Let’s talk about who you currently use for a payroll provider and how we will work with them.
How much does this cost?
Payroll by Credit Card handles all the transactions with American Express and provides payroll funds to your automated payroll service. Our fee structure is determined by the volume of your payroll and jurisdiction. Please contact us so we may discuss your specific account details.
We work with dozens of payroll companies. Let’s talk about who you currently use for a payroll provider and how we will work with them.
How much does this cost?
Payroll by Credit Card handles all the transactions with American Express and provides payroll funds to your automated payroll service. Our fee structure is determined by the volume of your payroll and jurisdiction. Please contact us so we may discuss your specific account details.
Aug 10, 2015, 12:02 pm
#3
Original Poster
Join Date: Apr 2005
Programs: DL DM MM, Hyatt LT Globalist, SPG Gold, Marriott Gold, Hertz PC
Posts: 2,141
I called- fees are 3.49% on any payroll less than $25,000, there is also a $30 wire fee per transaction. Definitely not worth it for my situation.
Last edited by Peatisback; Aug 11, 2015 at 8:47 am Reason: typo
Aug 10, 2015, 3:28 pm
#4
Join Date: May 2002
Location: Arizona
Posts: 5,689
Intriguing yet scary. If you pay someone and even if you have proper corporation you still are personally held responsible for taxes withheld. Many people do not understand this concept including attorneys who claim a properly run corporation will shield you from liabilities. Legal council often overlook this area. Anyone who tells you a corporation will shield you as an individual from payroll tax withholding is wrong. So you better feel real comfortable that everything is being withheld and delivered to the proper government authority.
Aug 10, 2015, 5:25 pm
#5
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
This is what payroll services do. This company only changes the way the funds are provided to the service, but their pricing is unrealistic. I expected something on par with income tax payment processors, ~ 1.87%.
Aug 17, 2015, 3:03 pm
#6
Join Date: Aug 2015
Posts: 1
There are a number of pricing models for this service depending on your payroll volume, with substantially lower rates for higher payroll than the one referenced above.
It might not work for you in a relatively low payroll, but the team can work with your individual circumstance to see if there's value for your individual account.
I'll encourage you to contact the business directly to see how it works for you.
It might not work for you in a relatively low payroll, but the team can work with your individual circumstance to see if there's value for your individual account.
I'll encourage you to contact the business directly to see how it works for you.
Sep 18, 2015, 7:06 pm
#7
Join Date: Mar 2013
Location: Racine Wi
Programs: Amex Centurion
Posts: 60
Do you get points for this? It's not a completely terrible idea if you need to top up on some points. obviously it's not a great long term solution.
Sep 20, 2016, 2:42 pm
#8
Join Date: Apr 2014
Posts: 10
What's the big deal, unless there's a material oversight I'm seemingly oblivious to?
They are partnered with Amex, run ads on Amex statements... takes any worry away from it triggering an FR/closure... unless you're CRAZY enough to float payroll using this method.
Feb 22, 2017, 9:01 am
#10
Join Date: Apr 2014
Location: MSP
Programs: AF Plat, DL Gold
Posts: 366
Just bumping this post to see if anyone has used this company yet to pay their payroll company. I was also just quoted 1.99%. It looks like the payroll company (ADP in my case) would still do all of the necessary withholding. They would just get paid by CC instead of withdrawing the money from our company's checking account.