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Old Aug 9, 15, 7:50 pm   #1
 
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"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?
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Old Aug 10, 15, 5:06 am   #2
mia
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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.

Quote:
Has My Payroll Company Agreed to Participate in This Service?

We work with dozens of payroll companies. Letís 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.
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Old Aug 10, 15, 12:02 pm   #3
 
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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, 15 at 8:47 am. Reason: typo
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Old Aug 10, 15, 3:28 pm   #4
 
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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.
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Old Aug 10, 15, 5:25 pm   #5
mia
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Quote:
Originally Posted by Centurion View Post
... better feel real comfortable that everything is being withheld and delivered to the proper government authority.
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%.
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Old Aug 17, 15, 3:03 pm   #6
 
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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.
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