Charging compound interest on debt could lead to loansharking. Allowing payment between accounts could lead to money laundering. For these reasons, such activities generally require financial regulation.
However, you probably don't want to do such activities. You probably want to allow customers to earn commission and get a lump payment when they reach a threshold or an amount of time elapses or they request a pay-out. This would be quite acceptable for a business. The reason for this is quite simple.
It is legal for individuals to owe money and to be owed money. Likewise, it is legal for businesses to owe money and to be owed money. However, a business may have to declare money owed in annual accounts. Additionally, it may be neccesary to hold the full amount in a separate bank account. Even if it is not strictly neccesary, this would be a concise way of showing that your company is trading solvently. Consult an accountant for regional details.
You may wish to make payment by cheque. It is fairly simple to write a program which prints two or three fully written cheques on a sheet of paper. You can minimise mis-addressed cheques by using envelopes with windows and placing the recipient address on the cheque in the appropriate place. Regardless, cheques will go missing. Be gracious. Trust your customer. Fix the problem quickly.
Make an arrangement with your bank to accept your sequentially generated cheque numbers. After the first 1000 cheques or so, you may also wish to make an arrangement to omit your signature from the cheque.
You may want to make an administrative fee for premature withdrawals. Make it small and absorb that admin cost for payments above your preferred threshold. If this fee is excessive then you may run afoul of unfair contract law.
However, you probably don't want to do such activities. You probably want to allow customers to earn commission and get a lump payment when they reach a threshold or an amount of time elapses or they request a pay-out. This would be quite acceptable for a business. The reason for this is quite simple.
It is legal for individuals to owe money and to be owed money. Likewise, it is legal for businesses to owe money and to be owed money. However, a business may have to declare money owed in annual accounts. Additionally, it may be neccesary to hold the full amount in a separate bank account. Even if it is not strictly neccesary, this would be a concise way of showing that your company is trading solvently. Consult an accountant for regional details.
You may wish to make payment by cheque. It is fairly simple to write a program which prints two or three fully written cheques on a sheet of paper. You can minimise mis-addressed cheques by using envelopes with windows and placing the recipient address on the cheque in the appropriate place. Regardless, cheques will go missing. Be gracious. Trust your customer. Fix the problem quickly.
Make an arrangement with your bank to accept your sequentially generated cheque numbers. After the first 1000 cheques or so, you may also wish to make an arrangement to omit your signature from the cheque.
You may want to make an administrative fee for premature withdrawals. Make it small and absorb that admin cost for payments above your preferred threshold. If this fee is excessive then you may run afoul of unfair contract law.