Forum Discussion

Marie7's avatar
Marie7
Contributing User
21 days ago

Invoice payments through MYOB

Hello

I am wanting to know if there any way to change the default payment to EFT only once the secure invoice upgrade is done ? 

 

My understanding is that the default option is secure payments - which involves a fee payable to myob. Is this correct ?

Do we  get the usual fee from the bank as well on top of the MYOB payment ? 

Does the payment go directly into our account ? Or does it go through a MYOB account - then to us ? 

If we choose not to charge the customer MYOB's fee - is that a setting we can turn off system wide ? Does MYOB send us an invoice for their fees ? How frequently are those invoices sent ?

Can the fees be paid by us by EFT ?

If the upgrade has that function ability to turn off secure payments , so that EFT only is shown - can you show me screen shots with the process of how to do that  in the secure invoices upgraded program.

 

Marie

secure payments

3 Replies

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    21 days ago

    Hi Marie7,

     

    Thanks for the questions, these are great!

     

    I'll do my best to answer your questions in order below - let me know if there's anything I missed.

     

    • After the secure invoice upgrade, there is no 'default' payment as such. EFT will still be an option on your invoice, but there will also be all of the additional payment options included as well. This provides flexibility for the person you have sent the invoice to and they can pay in the way that best suits them
    • There are no fees charged by your bank for any of these new payment options, but there are the MYOB fees associated with the online payments options which it sounds like you're aware of. Note that there's no fee if the customer pays via bank transfer. For Visa/MasterCard, it is 1.8% of the invoice value + 25 cents. For all info on fees, check out this link
    • When a customer makes an online payment, the fees will be deducted from their payment and the balance will be settled into your nominated bank account. The payment will be automatically recorded in your MYOB software and the associated invoice will be closed off. Both you and the customer will receive an email confirmation about the payment. Depending on when the payment was made and the bank's processing cut off time, it can take between 1 and 2 business days for the payment to appear in your bank account.
    • The fees will be charged to the customer by default, but if you wanted to pay the fee instead, there's definitely a setting you can change for this. Both as a default, but also it can be charged per individual invoice or for each recurring invoice template you might have. Find out more here
    • If you opt to pay the fees yourself, these are deducted from the invoice value and the balance will be settled into your nominated bank account.
    • If you wish to completely disable the online payments feature, the instructions and screenshots can be found here.

    Cheers,

    Princess

    • Marie7's avatar
      Marie7
      Contributing User
      14 days ago

      Further urgent problem

      I am glad there is an ability to  disable the online payment feature in the upgraded program.

      The problem I have is that I have looked into the requirements of the upgrade. From how it looks MYOB want similar information to the information required to sign up to a bank. The coercion that is happening to enforce this change is extremely difficult. I am not going to utilise this payment system , 

      Cany you explain why that information is required when I have no intention to utilise MYOBs online payment service ?

      Also can you provide a way that I can put in a complaint to MYOB about this change.

      Is there way to get the date changed for the upgrade whilst I receive  advice from the Fair Trading.

      MYOB currently have extended wait times on the phone as it is also  the EOFY. I will also put this as a new question , as the timeframe is short.

       

      • Shella_A's avatar
        Shella_A
        MYOB Moderator
        14 days ago

        Hi Marie7,

         

        Thanks for coming back with additional questions.

        For more information about the change, why MYOB is doing this, why the documentation is required and more, please look at this summary posted to the forum (hyperlink - https://community.myob.com/blog/communityblog/myob-secure-invoicing-upgrade-update-and-summary-1103/890091)

         

        Regarding your additional questions, you can lodge a complaint with MYOB by emailing to feedback@myob.com

        And there are some circumstances where extensions can be provided - I'm not sure whether seeking advice from Fair trading would be one of the circumstances, but you can make the request by logging in to myaccount.myob.com, clicking on 'contact support' and then selecting the case reasons as 'financial services'

         

        We're not yet experiencing long wait times for end of financial year either, although we do typically see more customers reaching out for support from mid June through to the end of July. The financial services team yesterday had an average speed to answer of less than 1 minute.

         

         

        Regards,

        Shella

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.