Between the excited clients (and emotional ones), the long hours and your sore feet, wedding season can be a challenging time for anyone working behind the scenes to make people’s special day as special as possible.
Whether you’re a beauty professional, a florist, a baker or a photographer — not to mention a wedding planner or a wedding band! — wedding season is among the busiest periods for your business. It means lots of payments out, for supplies and other expenses. But here’s the good part: It means plenty of payments in, too.
When it comes to the money side of things, Interac e-Transfer can help make this wedding season run smoother. For one thing, it is widely used — 88 per cent of Canadians we polled in 2022 had used Interac e-Transfer — which can help you attract potential clients. And it offers a number of advantages for small (and micro) businesses: It’s fast (funds go from account to account virtually right away, and don’t have to clear like a cheque), it’s simple to use, and it’s secure.
As for when to use Interac e-Transfer, below are some occasions when you can say I do (as in, “I do take advantage of streamlined digital payments!”):
Encourage your potential clients to book early so they grab a spot on your schedule (and won’t be disappointed). Let your clients know you collect deposits using Interac e-Transfer and you’ll have the funds available right away — isn’t that better than waiting for a cheque to clear (or in the worst-case scenario, bounce)? As a small business owner, it’s often important to be able to access funds right away.
Pro tip: If you enable Interac e-Transfer Autodeposit, the funds will go directly to your account following routine fraud checks by your financial institution, without the need to set up a security question and answer.
Learn how to Set Up Interac e-Transfer Autodeposit
Imagine: It’s the height of wedding season and you’ve just run out of one of your problem-solving products — like a cry-proof mascara, your favourite fondant, or backup batteries for your flash. To avoid getting caught without your secret weapons, make sure your stocks are fully supplied — plus extra inventory of your go-to products in case anything runs out.
See if your suppliers accept Interac e-Transfer or Interac Debit for payments. That way you can use your own money, and you can help keep track of how much you’re spending on all of the tools of the trade.
If you need higher transaction limits to make Interac e-Transfer purchases through your suppliers, consider using Interac e-Transfer for Business, which has transaction limits of up to $25,000 per transaction (transaction limits are set by your financial institution).
Learn what Interac e-Transfer for Business can do for you
If you have a client who’s bringing you along for an out-of-town-wedding — whether it’s at a rental property or a sunny destination — and will be reimbursing you for the expenses, ask to be paid back using Interac e-Transfer. With Interac e-Transfer, you’ll have access to the funds right away, and can use that money to support your business’ cashflow.
Learn why businesses are choosing to accept Interac e-Transfer as a form of customer payment
An extra set of hands (or two … or three) can be a lifesaver on the busiest days. If you’re hiring assistants or other extra helpers, use Interac e-Transfer to pay them. They’ll appreciate receiving their money right away, and you won’t have to remember to hold the amounts you owe them in your chequing account, as you would if you wrote them a cheque.
Learn more about paying contractors and employees with Interac e-Transfer
When it’s time for the client to settle up, use Interac e-Transfer Request Money, a feature that allows you to send a request for funds with a notification they receive via email or SMS. It’s not just an easy way to collect payment from customers, it’s a polite way to nudge people who are distracted from the emotional whirlwind of getting hitched!
Pro tip: If you use the Request Money feature to invoice clients the day before the session, you and the client can each go enjoy whatever you’re doing — and you’ve already taken care of the reminder to help ensure you get paid.
Learn how to use Interac e-Transfer Request Money
Check out more tips and resources for hardworking Canadian entrepreneurs.
