Using Venmo for Hook Fees May 17, 2021 12:01PM
Have any smaller associations used an app like Venmo or PayPal to collect book fees and pay out prize money?

We are looking for ways to simplify the check-in process and make life easier for the secretary who has to write winnings checks and take down distances and placing fof the next class at the same time.

Any ideas or stories on what some other orgs do to make this easier would be great. Thanks!!
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Re: Using Venmo for Hook Fees May 17, 2021 12:24PM
Why????? What is easier than cash? Just no..... Just asking for trouble. My ex wife wanted me start taking venmo payments from her when repaying me for dr appointments and such. Tokd her not only no but HELL NO! I don't and won't use that, ever....
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Re: Using Venmo for Hook Fees May 17, 2021 06:56PM
Cash is King but PayPal and Venmo work also with their own set of challenges.

The biggest obstacle to the online payments is that you'll need to be able to quickly turn that digital cash into hard cash to do payouts, or transfer those monies into a bank account to write checks back to pullers who win/place. Service fees for digital transactions eat into the bottom line also. The upside that I see to it is, if, and this is a big if...enough pullers accept this as a means to pay/register, then registration time during the day of the event is greatly reduced, freeing up a member of the club to do other things.

Pulling's biggest issues are time and labor, and any way to fix those things improve the quality of the event no matter how big or small it is. Again, I like cash but using/exploring any alternative that speeds up the logistical side of the sport is worth investigating.


Bryan Lively -

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Edited 1 time(s). Last edit at 05/17/2021 07:15PM by Bryan Lively.
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Re: Using Venmo for Hook Fees May 18, 2021 12:33AM
I recently got Venmo and LOVE it. Very easy to move relatively small amounts of money around. I would think it would work great for tractor pulls.

"The biggest obstacle to the online payments is that you'll need to be able to quickly turn that digital cash into hard cash to do payouts, or transfer those monies into a bank account to write checks back to pullers who win/place."

Why would you need cash? You could do payouts with venmo as well. Maybe keep some with you for those that refuse to get it???

"Service fees for digital transactions eat into the bottom line also."

Venmo triggers a standard 3% fee, but the company waives that expense when the transaction is funded with a Venmo balance, a bank account, or a debit card. The 3% fee is not waived when users send money from a credit card. So as long as you aren't transferring from a credit card there should be no fee.

I agree that cash is still king and has it's place but like it of not fewer and fewer people carry much cash anymore, especially anyone under the age of 40.
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Re: Using Venmo for Hook Fees May 18, 2021 01:03AM
I agree with Bryan, if I can pre-register and pay through Venmo the night before, check-in is way easier and faster. If I pay in with Venmo I can get winnings through that as well.

There are others out there too, CashApp, etc. just using Venmo as an example. I just know that for our secretary on a windy day you are taking in 50-60 checks and writing 40 or so, trying to keep them from blowing away, all while trying to keep track of results etc. If you have 2 or 3 people for these roles its no big deal but in some of the smaller orgs people willing to do these things and be detailed are a premium.

Just thoughts for conversation. Would love to hear how other organizations are simplifying the check-in, payout process. Seems to be our biggest hurdle for getting an event started on time.
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Re: Using Venmo for Hook Fees May 18, 2021 01:24AM
We have accepted membership and sponsorship payments via PayPal. It works OK.

Check with your bank, many banks offer a bill pay program where you can submit "bills" (aka your winners), and they will automatically print and mail a check to your winners. We use this for our club. I will say though, that some banks do this MUCH better than others. We switched banks for ECIPA 2 years ago and have struggled with our current banks bill pay system. But it is still easier than having 60+ members bugging the secretary during the pull or having to stick around till 11pm waiting on checks.


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Re: Using Venmo for Hook Fees May 18, 2021 03:51AM
Use Zelle. Works for most payments less than $2500. No fees if your using your bank balance. You can send and receive payments directly to your bank account and is almost instant.

Cash/checks are outdated in most of the world. That cash that you put in your bank account doesn't just sit there it gets converted to a digital number. It's been that way for decades now.
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Re: Using Venmo for Hook Fees May 18, 2021 05:01AM
Identity theft is a big enough problem why add to it? It may work in the big organizations but if you are only big enough for one secretary it won't. You will not have enough pullers use it. I won't. I don't pull for money anyways but if you won't let me pull there will be someone else who will.
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Re: Using Venmo for Hook Fees May 18, 2021 05:28AM
Quote
F-30puller
Identity theft is a big enough problem why add to it?

That has happened to me and I had to freeze all my credit reports. It's a real pita.
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Re: Using Venmo for Hook Fees May 18, 2021 07:14AM
How are we sure this is the real Clark????
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Re: Using Venmo for Hook Fees May 18, 2021 10:52AM
Quote
F-30puller
How are we sure this is the real Clark????


Ask Jake.
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Re: Using Venmo for Hook Fees May 18, 2021 05:47AM
Quote
F-30puller
Identity theft is a big enough problem why add to it? It may work in the big organizations but if you are only big enough for one secretary it won't. You will not have enough pullers use it. I won't. I don't pull for money anyways but if you won't let me pull there will be someone else who will.

A single secretary is precisely why it's needed. Digital payment in my opinion is just another option to pay hook fees, not the only way. Remember I said cash is still king.. It's about taking pressure off that secretary when he/she has multiple things to do before anyone hooks to the sled...and likely has other stuff to do once the pull starts.


Bryan Lively -

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Re: Using Venmo for Hook Fees May 18, 2021 07:25AM
I get that, but anything internet based is going to be a tough sell. The extra expense and people like me will make it difficult. I think it would work for the larger groups that would have a nest egg to draw from. Dad's still waiting on checks the '80 out of Indiana. "We'll mail them to you" lol cash king, long live the king!
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Re: Using Venmo for Hook Fees May 18, 2021 08:48AM
The other side of that is handing a puller their cash payback and 30 minutes later a crew guy comes over and asks for it swearing it wasn't given to them. Where's the proof? How do we know there was a miscounting of it? Checks/electronics eliminate this issue.

CP
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Re: Using Venmo for Hook Fees May 18, 2021 03:38PM
Come on, we're tractor pullers, we prefer technology from the 80's. Ain't no way this will ever happen.
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Re: Using Venmo for Hook Fees May 19, 2021 01:23AM
One thing that has to be available is a WIFI signal. Becasue most of the fairs we end up at have data problems when it's closer to show time.
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Re: Using Venmo for Hook Fees May 19, 2021 08:17AM
Data availability definitely comes into play here. All the data providers all swear they've got the greatest coverage ever, but we all know that's BS.

I think the idea works well in theory. There will definitely be a learning curve and I'm pretty sure it'll be a bumpy ride to get it implemented.
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Re: Using Venmo for Hook Fees May 19, 2021 10:34AM
I imagine Venmo will catch on at the state/local level about like EFI has.
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Re: Using Venmo for Hook Fees May 20, 2021 02:59PM
[www.mystateline.com]


Look, I won't use venmo because if people don't know that my money is good when I pay them for a hook fee then I don't need to be at their pull. smh



Edited 1 time(s). Last edit at 05/20/2021 03:02PM by Supertiquer.
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Re: Using Venmo for Hook Fees May 26, 2021 02:37AM
What about the older pullers that don't know how to use these or don't have smartphones? You can't charge them if they don't know how to use them. I don't think its a good idea, and maybe there should be a treasurer there handling the money, while the secretary takes the distances.
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