Charges for payments

Darlene

Darlene

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Jun 9, 2009
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anyone else receiving payments from companies that are charging for a "cheque" .. network FOB deducted 3.50 from our payment for a cheque processing fee, as did Landstar ..
 
Yes, We had Landstar did that to us. When we ask the reason, they said they are charging for extra cargo coverage even they don't ask for extra coverage in first place.
 
Cheque processing fee???
Wow! I wonder if people actually sit around board room tables and come up with new ways to stick it to their suppliers or customers.
How about a Postage fee? Or, had to lick the envelope fee? Or, had to pay for parking when I went to the bank fee?
Just when I thought I had heard it all. Thanks!
 
Offering a small discount (1 or 2%) for online or direct payment is one thing. But to arbitrarily deduct funds for receiving payment by cheque is just wrong.
Whatever happened to "the cost of doing business?"
 
We starting doing direct deposit and I'm amazed at the people that still want a cheque why is that? The money is directly in your account, we do a test for 1 penney to start to make sure everything goes the way it is suppose to yet I still have to sign cheques for people. We have no access to your account only to deposit and the only work for the receivables person is to match it up from the bank statement. Plus I sign/approve payables every week and then the money is deposited or mailed which is pretty much guaranteed it does not make the mail on Friday (not by our choice) so the cheque people are probably at least 5 days behind the auto deposit. Sorry traffic in the east end was horrible just venting.
 
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No question, direct deposit is awesome. And I don't understand why anyone would not want it.
Deducting for a "cheque" payment is fine as long as the payee knows your policy upfront, regardless of the size of the amount.
 
very often if the cash flow is not an issue it is just easier to match a cheque with a bill, direct deposits fall in and you don't always know where they came from.
 
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Any systems I have seen come with an email notification at the same time so you know where it came from.
I would rather try to solve the puzzle of who sent me money than chase the one who didn't.
 
back on topic, charges for mail/cheque is a bit much, but it also depends on the contract you have with your customer/supplier.
 
we did ask about direct deposits (there is still a fee of 1.00 for processing) .. which is why we stayed with "paper" cheques, this is the 1st one where funds were deducted .. I guess not as costly as NETWORK FOB .. they are now charging 3.50 per cheque, and TRENSET is 10.00 per direct deposit .. hmmm wonder if they would notice if I added the extra charges to their invoices ??
as always, thank you for your thoughts and input :)
 
Going direct deposit is the only way to go. My cost to pay is .45 cents per payment, so no stamp $1.03 and no paper cheque at .65 cents. I save $1.23 per direct deposit payment. For those receiving payment, sleep better knowing the money is being put directly into your account. No beating up the mailman for being late or lost, and rule of thumb about company's doing direct deposit is that they have the money or credit to pay the bill in a timely fashion.
 
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