This is interesting, as I have just had a client contact me about some MYOB 'note' to upgrade within 10days to the MYOB secure invoicing.
Looking into it, the client or customer is charged 1.8% of the total payment amount plus a transaction cost. Wow! Not worth the extra cost. And it can take two days for the payment to come through.
I have set my client up using EInvoicing instead, free, gov supports it. As his customers all pay via Bpay, they can upload a ABR file to the bank, or have his bank details set up with their bank, again free.
Hi SammiB
At least you were able to look into the costs.
MYOB default is for the cost to be borne by the subscriber, not the client, hence our company (unknowingly until the transaction went through) took the hit onthe charges.
This is so wrong on MYOB's part.
The secure invoicing upgrade, which is separate to eInvoicing, enables new features designed to help you stay safe online, plus give your customers peace of mind that they're interacting with you in our secure environment. Once upgraded, online payments is switched on to surcharge the customer by default, not charged to the subscriber. Your client will be able to opt-out of online payments as a whole from the businesses payment settings or the invoice creation screen once upgraded based on their preferences. Let me know if you have any questions!
the surcharge is 1.8% on the total payable invoice. On a $2000 invoice that is $36.25 for the privilege of using MYOB secure invoicing. That is well above the standard service charge.
From what I could see there was no option to promote Bpay or direct deposit or Bank PAY ID.
Does MYOB secure invoicing still charge the 1.8% if the client chooses to Bpay/DD or pay ID?
This becomes expensive for retail customers, giving the option to pay 1.8% surcharge, or using Bank Pay ID, I know I wouldn't be paying the 1.8% surcharge.
EInvoice is for those who use an accounting package and so do their clients, as the invoice is emailed directly into the clients accounting package. (secure)
Usually the bank details are already set up, either in MYOB or the bank
Hey SammiB,
Transaction fees will apply to all payments made online. For card and digital wallet payments (Google Pay and Apple Pay) and PayPal, you can surcharge this transaction fee (1.8% of the invoice value + $0.25) onto the customer. For BPAY payments, you can't surcharge the fee.
Aside from online payments, there are other invoice payment methods you can set up, more information is available on this page.
