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I personally wouldn't do it. Like said before there is somthing to be said with having a relationship with your bank, not just tellers. In addition it takes about 5-10 minutes a week for me. When I know I will be in the area, I stop in . I'm cheap 5-10 minutes X 4 weeks or $ 50.00, for me thats cutting two lawns for free or working for an hour (probably two after expenses). I'll take running to the bank.
Judging by this post I would say that you are a small business. You can't look at is as cutting 2 lawns for free. Most of us need to go to the bank more than one time a week.

I would say that the suntrust idea would be good, espcially for those with secretarys that record checks.
 
When I was involved with my partnership we used a smaller bank and they had a "runner" that would come Tues-Thurs and pick up our deposits.

I looked into going with that bank when I went out on my own. The fees were similar but I elected to make it more convenient for my guys and go with a big bank with lots of branches and ATM's.

The small bank only had two branches and limited hours, so for the guys without checking accounts it was a pain.

Thinking about it now I have a better class of employees and that would not be an issue, I might check back into that again.

Being in a larger city gives me lots of options for everything from banks to clients and everything in between. But there are trade offs of course.
 
So the $1200 is a one time price, and you can do any amount of credit card and paperless check transactions forever?

Most people I know are paying 1.67-2.9% for each credit card transaction. Is there any type of percentage charge in what they are talking about?
No you still have the CC transaction fees like anywhere else...I'm sure if you bought the check machine there would still be a monthly fee as well just on the CC processing end. I meet with the guy tomorrow so will find out more...
 
I just returned from the bank...the whole thing is not exactly what I was led to believe. Not bad but not sure if it's worth it for me.

It's a combo CC processing/check processing machine. He quoted me 2.1% + 25 cents per transaction...this also includes the checks...I don't mind paying the fees for CC's as I control when I get paid. But to randomly wait for checks and then still pay fees on top of that, I don't know.

The machine only scans personal checks...from left to right the sequence must be: routing #/account #/check # Most true business checks have the check # in the middle so if you get many of these it will not process those.

It's $49 per month lease for the machine. Or you can lease a separate CC machine at $30 and a check processing machine at $10, so you would save $9 per month.

So the thing is, how much time do I waste on trips to the bank?? Not sure for my business if it's worth it.
 
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