Collecting Payments

Hey guys! What would be the most efficient method of collecting money? From what people keep telling me, nobody agrees on one way. For starters, a friend of mine said the best way was to collect a monthly check (I'm assuming to save on transaction fees). Personally, I would like an online interface, so that I can bill the client a reoccurring payment, and not have to worry about it. I've looked into Chargify and CheddarGetter, but I'm not even sure if they're exactly what I want. CheddarGetter is very intuitive and pretty, but I don't think it will allow me to collect the credit/debit card information of clients.

What do you guys think?

Also, I'll be charging for hosting as well, but am confused on how best to do it. Do I do a set amount per month? Or based off of bandwidth (if I go with Rackspace)? Or even bandwidth + my monthly fee?

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