You have options when it comes to collecting money. Make sure you weigh each of them before landing on any one.
Let’s face it, to work properly, your group needs money. It doesn’t matter if you’re running a national non-profit or a peewee hockey team, if money’s not coming in, you’re going to be in trouble.
Whether it’s coordinating a fundraising campaign or tracking down that one hold-out hockey parent, collecting money can be challenging. If you’re looking to make that leg work a little easier, here’s a few helpful ways to move money into your organization’s account.
There’s a good chance that cheques are already your group’s preferred way to pay, and there are some very good reasons for that.
- Cheques create a clear paper trail, making your record keeping easy.
- Deposit Anywhere™ lets you deposit cheques using your phone – no need to head into an advice centre.
Go paperless with Interac e-Transfer†.
- Notice of the e-Transfer is sent by email or text message so neither you nor the transfer sender needs to share banking information.
- The money itself is sent through online banking so the transfer’s completely secure.
- Aside from answering the sender’s security question, all you need to do to accept a transfer is login to your online banking.
Cash is generally a convenient way to pay. Unfortunately, this isn’t the case when taking in payments for your organization.
- It can be hard to create a clear paper trail with cash.
- Cash can go missing, and can’t be stopped like a cheque or e-Transfer. The last thing you want is an argument over what has, or hasn’t, been paid.
†Interac e-Transfer is a registered trademark of Interac Inc. Used under licence.