I have a small business and I'm about to start a couple of new initiatives that will require 1. paying contractors 2. paying customers for the purchase of certain items.
Here are the options I have so far:
Send a physical check - This may work for the contractors but my customers my shy away from having to give their address to a virtually unknown company.
PayPal This is good for me but it charges the recipient which will not make my customers or contractors happy
Venmo I asked support about a business account and they said they did not have business accounts. I guess I might be able to funnel payments through my personal account but I am concerned about the spending limits and keeping separate accounting.
ACH Transfer I don't want to have to collect bank info for every person I do business with and my bank charges $30/month for something I might not use every month.
So does anyone have a suggestion about a service to use? I don't mind a per transaction fee as long as it is not pervasive.