What to do after cheques get cancelled

[Rob D]

I don't think elderly customers will be up to date on all the high tech stuff.

 

I have a card machine but it is very expensive to run. There is also a 2.5% surcharge on top for credit cards.

 

Also there's more charges from the banks end when they do some processing....

 

Cheques will be around for a long time yet I reckon.

[jaime bray]

Whats the cost to do a bacs payment then, and how long does it take to clear, I Iknow its common place these days, i do prefer cheques tbh, as I know that its in my hands to get it cleared as and when I bank it.

 

Hate thought of chasing people for money, vile situation. And would be ringing to say you done that bacs yet or what.

 

All my invoicing is done on my business qoute sheet but is a carbon copy, so is issued as we leave site,therefore prompting immediate payment.

[Paul Barton]

Would PAYPAL work - or is that no better than BACS?

[Rupe]

I set up a ''pay a friend'' type thing with hsbc whenever i want to pay someone, but it needs their sortcode and account number, normally in their bank in 15 mins, probaly the same as your setup rupe.

 

So the general census at the early stage is that its not that good an idea just yet, I shall wait a few more days before reporting back to them with your opinions.

 

Thanks for the feedback lads, these are the sort of topics that the AA's arborist working group are trying to look at, and hopefully do the hard work for you. If anyone is interested in this setup let me know and ill try and get further info from the AA.

 

I used to say on my invoices that the customer can ask me for my account number and sort code, but I have changed it now so those details are on every iinvoice therefore encouraging them to use that method. If its differing banks then it still take 4 days but in a few years time it will be second nature and new technology is coming in all the time. Card payments by streamiline device are way too expensive IMO.

[Andy Collins]

I think the biggest problem with the cheques system from now on is the withdrawal of the cheque guarantee scheme on the bank cards. Without this there will be no support, surely this will lead to the demise of the cheques much sooner. Many businesses already refuse to accept cheques as payment for this reason.

[tommer9]

BACS payments are free, and (with my banking group Lloyds at least) within 2 hours to an individual, and up to 4 days (which is the legal limit nowadays) to a company (eg another bank or south west water etc). In reality I have found that when i pay my groundy's wages (for example) it is instant.

[easy-lift guy]

Here in the states various means of payment previously described already exist. IMO I do not beleieve the the day of the check is soon over or even cash mainly due to tech.not being able to have a plan B when a terminal go's down and stores would not be able to complete ones transaction. Usually if my clients know my fee for services in advance they ask for my terms and when the job is done I get paid. My clients know that up front and it is also printed on my job est. and work orders. If anyone tries any funny business I refer them to Guido in collections and he arranges a meeting with my gator named Frank.

elg

[Peter]

Would PAYPAL work - or is that no better than BACS?

 

No better, just more expensive.

[Rupe]

bacs or onlin epayment is free, and as for the elderly not being up to speed with technology, well the ones that aren't up to speed will be sat in a care home by 2018, the rest following on behind are the fastly catching up with the internet.

 

Nothing is going to suddenly become obselete without a suitable replacment, we are only tree cutters, there are far bigger and more important businesses that will ensure that gettign paid is always going to be easy.

 

My prediction is that it will all be done by text message or phone scanning and by the time its required it will be free.

 

No one should be panicking or givign this any concern at present.

[alex_m]

Would PAYPAL work - or is that no better than BACS?

 

as said, more expensive.

it cost me £8.50 to receive £230 t'other day.