TutorPay uses PayPal to take payments, because they offer 3 vital benefits. PayPal is...
As with all credit and debit card payment processing companies, PayPal levies a small fee per transaction. When a student pays, TutorPay processes this PayPal fee for you. The transaction fee gets deducted from the amount the student pays. Then 100% of the remainder is yours!
The transaction fee deducted from the student fees is the normal PayPal fee.
One of the key reasons that TutorPay chose PayPal as the payment processor is that while PayPal fees are very competitive, they offer a much simpler payment processing. It is the trust, simplicity and security which will allow you to take your lesson payments comfortably and automatically, and for this to be OK with your students/parents.
So here are the transaction fees ...
As you can see, while the transaction fees start at quite a competitive rate, it gets even better the more student fees you send via your TutorPay account.
NOTE 1: Because of the collective bargaining power of the TutorPay tribe (all the tutors who use the TutorPay service), TutorPay will be decreasing the first fee level down from 3.4% to 2.9%, once we have completed negotiations with PayPal.
NOTE 2: Transaction Fee levels are calculated monthly. It is based on the total monthly revenue from 2 months before the current month. For example, the transaction fee level for March is based upon the total monthly revenue taken in January.
So the more students you have paying you via TutorPay, the less the transaction fees are to you. Plus you get all of the additional benefits of TutorPay completely FREE - like the invoices and bookkeeping, the Admin Panel (to see who has paid, who hasn't, when their lessons are etc), the automated, recurring payments to you and the enhanced simplicity for your students/parents.
To find out how to get your TutorPro account free, click here now to check availability.