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Thread: Accepting Cheque Payments

  1. #31
    Senior Member geoff's Avatar
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    Default Re: Accepting Cheque Payments

    The purpose of the ban is to stop businesses from charging payment surcharges that are excessive. That is, from charging a customer more than what it costs the business to process the payment.a quote from ACCC so john that is law have a think about that...

  2. #32
    Senior Member Scooby Steve's Avatar
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    Default Re: Accepting Cheque Payments

    Getting back to the $15 a cheque bit i'd say more like $2 to $3 would be accepted anything over that and you'll be pushing the friendship. Would it be better to have a chat with them seeing as you said you didn't have many paying that way and go from there.

  3. #33
    Senior Member GardeningSolutions's Avatar
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    Default Re: Accepting Cheque Payments

    Cheques are a crap form of payment. I get it and the sooner theyre pulled the better. I drive past the bank all the time but no parking anywhere for a ute/ trailer. So I get there early morning and park illegally only to find the ATM deposit thing is not working. This happens far to often so I have to call the bank later saying the ATM is faulty and chance going again another day. By the time all this is done that $60 job/cheque is hardly worth doing.

  4. #34
    Senior Member glassngrass's Avatar
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    Default Re: Accepting Cheque Payments

    I hate cheques, too. Five business days to clear - that might have been fine 30 years ago, but today that is ludicrous.
    You are under no obligation to accept cheques as a form of payment, however I would accept cheques from a regular commercial client who has signed account terms and a Director's Guarantee.
    You might ask the client to deposit the cheque to your account - or better still, suggest they do a bank transfer.
    I think you could justify a significant cheque acceptance fee if you advise the client beforehand this now forms part of your terms - especially if you have offered several fee-free options.
    Alternately, increase their service fee by $20 and offer a $20 discount if invoice paid by bank trfr within 7 days.
    Failing all the above, I'm with you - that $60 job isn't worth doing.
    David

  5. #35
    Senior Member Scooby Steve's Avatar
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    Default Re: Accepting Cheque Payments

    Quote Originally Posted by glassngrass View Post
    I hate cheques, too. Five business days to clear - that might have been fine 30 years ago, but today that is ludicrous.
    You are under no obligation to accept cheques as a form of payment, however I would accept cheques from a regular commercial client who has signed account terms and a Director's Guarantee.
    You might ask the client to deposit the cheque to your account - or better still, suggest they do a bank transfer.
    I think you could justify a significant cheque acceptance fee if you advise the client beforehand this now forms part of your terms - especially if you have offered several fee-free options.
    Alternately, increase their service fee by $20 and offer a $20 discount if invoice paid by bank trfr within 7 days.
    Failing all the above, I'm with you - that $60 job isn't worth doing.
    All good points but in my world Metro/suburban vic it's that competitive atm i don't think a lot of contractors care whether its cheque, direct credit, or cash as long as they pay and pay the rate they want, the ones i know don't anyway. The number of customers that will pay that way is that small that's it's hardly an issue in today's world.

    More of an issue is the huge number of winter start ups that i've seen this year and spring is still to come, the pressure is definitely on. Jims owing is doing an ad blitz as well. And we all know what a huge number of newbies means don't we. That worries me more than getting paid by cheque ever will. For me i'd say less than 10% of my client base pays by cheque and most of them i've had for 26 years so i'm hardly going to boot them now lol.

  6. #36
    Senior Member RSM-Gazza's Avatar
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    Default Re: Accepting Cheque Payments

    Quote Originally Posted by RSM-Gazza View Post
    I won't accept Cheques re the hassle to deposit and minor deposit paperwork + $2.00 bank fee the last time one was deposited. Not sure if dearer than $2.00 now.
    Well bugger, I go check me PO Box this arvo not expecting anything. Two letters.
    One being a nicely written thankyou letter for looking after there house lawns/garden whilst owners where in Europe. I look after this house once every year whilst they do there world adventures.
    But this time payment was a Cheque.
    Knew I shouldn't have post within this topic last week, what do you call it (Synchronicity) least they payed immediately and its worth banking.
    Cheers Garry

  7. #37
    Senior Member Bluey's Avatar
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    Default Re: Accepting Cheque Payments

    Can't see what all the angst is over people not accepting cheques. You run your business how you see fit. If you don't want to accept cheques as a form of payment so be it. Who cares. If someone tries it on me I tell them I wont accept it and if they push it I tell them theres a surcharge if they want to use that form. They normally shy away from that right there.

    I have got rid of any who want to pay that way and thats the way it is going to stay. If other operators are so hungry for clients then they are welcome to them because from my experience those who want to pay that way are normally a problem client anyway.

    At the end of the day if someone doesn't want to accept cheques it is their choice and not the problem of anyone else who does. Do I turn around and have a shot at you blokes who do. No. Its your choice.
    Cheers

    Bluey
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  8. #38

    Default Re: Accepting Cheque Payments

    Quote Originally Posted by Bluey View Post
    Can't see what all the angst is over people not accepting cheques. You run your business how you see fit. If you don't want to accept cheques as a form of payment so be it. Who cares. If someone tries it on me I tell them I wont accept it and if they push it I tell them theres a surcharge if they want to use that form. They normally shy away from that right there.

    I have got rid of any who want to pay that way and thats the way it is going to stay. If other operators are so hungry for clients then they are welcome to them because from my experience those who want to pay that way are normally a problem client anyway.

    At the end of the day if someone doesn't want to accept cheques it is their choice and not the problem of anyone else who does. Do I turn around and have a shot at you blokes who do. No. Its your choice.
    Same here! Some people just seem to think the only right way is "their way"
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  9. #39
    Senior Member glassngrass's Avatar
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    Default Re: Accepting Cheque Payments

    Quote Originally Posted by Bluey View Post
    Can't see what all the angst is over people not accepting cheques.
    Exactly - not all contractors can park their rig conveniently close to their bank - or sit on the cheque until it is convenient.
    It's worse if it takes 30 minutes or more out of the day in order to bank low value cheques.

    If you going to accept a cheque and lose 30 minutes to bank it, you might as well offer them a $30-40 discount to deposit it for you - then at least you will have an extra 30 minutes to earn it back.

    There are worse things than getting a cheque.... like being told it is in the mail.
    David

  10. #40
    Senior Member Scooby Steve's Avatar
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    Default Re: Accepting Cheque Payments

    I thought all you blokes did cash anyway? Now everybody dance

  11. #41
    Senior Member glassngrass's Avatar
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    Default Re: Accepting Cheque Payments

    I'm seeing more and more of my small business clients using the Square Terminal.
    It works really well and is a great little setup with low entry cost, no monthly fees, and a small merchant fee that many pass on to their client.
    Deposited to bank the next day...

    Will that be Cash...or card ?
    David

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