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  #21  
Old 10-12-2012, 11:57 PM
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JimLewis JimLewis is online now
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Quote:
Originally Posted by corey4671 View Post
....I get very few checks anymore since I started accepting credit cards.
Yah, but then now you are losing 2-4% on every transaction. We take credit cards. Have for a long time. But we always offer a "cash discount" for people who pay by check. I'd rather have the money today and I'd rather not have to lose 3%. If you add it up, 2.5% or 3% can add up to a lot. If most of your customers pay by credit card and you did say $200,000 a year in business, that's $5,000-$6,000 a year you're giving up. That's a friggin' trip to Hawaii or the Bahamas! I don't know about you, but I don't like giving away that kind of money.

Credit cards have their place. But you gotta understand that they cost you big $$ too to take them. Me, I try to minimize the amount of credit cards we take.
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landscape design Portland Oregon
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  #22  
Old 10-13-2012, 12:01 AM
Darryl G Darryl G is offline
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I realize how much a seemingly small percentage adds up to every time I write a check for the Sales & Use Tax I've collected for the state. It makes me think...wow if I only charged 6% more that's how much more money I'd have.
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  #23  
Old 10-13-2012, 12:11 AM
corey4671 corey4671 is offline
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Quote:
Originally Posted by JimLewis View Post
Yah, but then now you are losing 2-4% on every transaction. We take credit cards. Have for a long time. But we always offer a "cash discount" for people who pay by check. I'd rather have the money today and I'd rather not have to lose 3%. If you add it up, 2.5% or 3% can add up to a lot. If most of your customers pay by credit card and you did say $200,000 a year in business, that's $5,000-$6,000 a year you're giving up. That's a friggin' trip to Hawaii or the Bahamas! I don't know about you, but I don't like giving away that kind of money.

Credit cards have their place. But you gotta understand that they cost you big $$ too to take them. Me, I try to minimize the amount of credit cards we take.
Needless to say, I'm not bringing in that kind of coin. I look at it as a cost of doing business. As with all costs of business, it's figured into the price. When I began accepting them, my calls increased. People like convenience. If you've bought anything at a convenience store lately, you know you pay a premium price for it....
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  #24  
Old 10-13-2012, 12:15 AM
corey4671 corey4671 is offline
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Originally Posted by JimLewis View Post
Yah, but then now you are losing 2-4% on every transaction. We take credit cards. Have for a long time. But we always offer a "cash discount" for people who pay by check. I'd rather have the money today and I'd rather not have to lose 3%. If you add it up, 2.5% or 3% can add up to a lot. If most of your customers pay by credit card and you did say $200,000 a year in business, that's $5,000-$6,000 a year you're giving up. That's a friggin' trip to Hawaii or the Bahamas! I don't know about you, but I don't like giving away that kind of money.

Credit cards have their place. But you gotta understand that they cost you big $$ too to take them. Me, I try to minimize the amount of credit cards we take.
It's also worth noting, I am 15 miles one way from my nearest bank branch. when I'm paid by credit card, it's electronically transfered to my bank account at no charge. My bank does offer the option to deposit checks with my smartphone app. Cost of $.50 per check. Again, that whole paying for convenience. However, if I get a check in the mail, I'd burn up more gas than that taking it to the bank AND to ME, $.50 is more than worth the time I'll spend driving to the bank, going IN the bank, filling out the deposit slip and waiting in line behind granny who just came in to check her balance.
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  #25  
Old 10-13-2012, 12:56 AM
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MOturkey MOturkey is offline
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Originally Posted by Greg78 View Post
Happens all the time with us. I don't even say anything anymore just deposit them. Never had one returned or questioned.
Same here. I seriously doubt the bank employees even pay any attention.
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  #26  
Old 10-13-2012, 07:09 AM
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zturncutter zturncutter is offline
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Originally Posted by corey4671 View Post
It's also worth noting, I am 15 miles one way from my nearest bank branch. when I'm paid by credit card, it's electronically transfered to my bank account at no charge. My bank does offer the option to deposit checks with my smartphone app. Cost of $.50 per check. Again, that whole paying for convenience. However, if I get a check in the mail, I'd burn up more gas than that taking it to the bank AND to ME, $.50 is more than worth the time I'll spend driving to the bank, going IN the bank, filling out the deposit slip and waiting in line behind granny who just came in to check her balance.
My situation is similar, I am about 12 miles from my bank. They offered a free check scanner and I pay a flat one dollar a day fee. When I get home I have until 7:00 PM to scan the checks that have come in to get them deposited into the business account for the day. No more racing around to get deposits made.

Quote:
Originally Posted by MOturkey View Post
Same here. I seriously doubt the bank employees even pay any attention.
I have never had a problem making a deposit at the bank with the wrong name on the check but they did call me about a check that was made out to me personally and not the corp. that I ran through the scanner. They deposited it but said it needed to be made out correctly to the corp.
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  #27  
Old 10-13-2012, 11:20 AM
Cadzilla Cadzilla is offline
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I used to sign the check I sent the electric company Mickey Mouse. Did it for years.

never had an issue.

lol
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  #28  
Old 10-13-2012, 11:40 AM
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JimLewis JimLewis is online now
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Quote:
Originally Posted by zturncutter View Post
My situation is similar, I am about 12 miles from my bank. They offered a free check scanner and I pay a flat one dollar a day fee. When I get home I have until 7:00 PM to scan the checks that have come in to get them deposited into the business account for the day. No more racing around to get deposits made.
we got that system a few weeks ago. Isn't that awesome?! We can make deposits until 8:00 p.m. and money goes in right away. That's such a slick system. We get so many checks every day I was always trying to race home before the bank closed every day or two so I could get all the checks in the bank. Now my office manager just makes deposits whenever checks arrive in the office. Takes 1-2 minutes and we don't have to go anywhere. So freakin cool!
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Lewis Landscape Services - Oregon
"kickin' grass and takin' names"


www.lewislandscape.com - Portland Oregon Landscaping Company

landscape design Portland Oregon

Last edited by JimLewis; 10-13-2012 at 11:44 AM.
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  #29  
Old 10-13-2012, 02:16 PM
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zturncutter zturncutter is offline
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Location: Interior South Florida
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Quote:
Originally Posted by JimLewis View Post
we got that system a few weeks ago. Isn't that awesome?! We can make deposits until 8:00 p.m. and money goes in right away. That's such a slick system. We get so many checks every day I was always trying to race home before the bank closed every day or two so I could get all the checks in the bank. Now my office manager just makes deposits whenever checks arrive in the office. Takes 1-2 minutes and we don't have to go anywhere. So freakin cool!
It has been a huge time saver and stress reliever for me, my operation is tiny compared to yours and cutting out the deposit hassle has been great.
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  #30  
Old 10-13-2012, 09:16 PM
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RSK Property Maintenance RSK Property Maintenance is online now
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Quote:
Originally Posted by darryl gesner View Post
Does anybody know if it's a problem for the bank if a customer gets your company name wrong on a check? They will often write it to lawn service instead of lawn care or something but this one is totally f'd up. I know that for personal checks you're supposed to sign it as it is on the check incorrectly and then sign under it correctly. One of my customers must have been writing a batch of checks and off in La-La Land. They wrote it out to Gesner Oil Company. Last I knew I don't own an oil company, and if I did I don't think I'd be mowing lawns, lol. Also sometimes they're write it out to me personally but I deposit it in the business account anyway. Anyone know the protocol on this? It might vary bank-to-bank. I'm with Bank of America.
doesn't matter as long as its close, in this case i would still try to just deposit it, i'm sure the banks won't care as long as there is no gesner oil company to try to claim this check it should be fine, i have customers write them out to me personally, my business, then sometimes they substitute maintenance for management, sometimes they put down only rsk, sometimes some of them write rks landscaping. the bank never gives me any trouble then again i'm in 3 of my banks branches twice a week when i'm busy and the banks i go to are close to me and i pass by two or three of them on a daily basis. i use first niagra.
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