electronic checks

[Rewire]

Many retailers are simply scanning your check and returning it to you I was wondering if anyone ws doing this for customers in the field? I saw a commercial about an iphone app was wondering if this was a new way to collect.

 

[chris1971]

Some banks are letting consumers scan and deposit a check through a smart phone. May look into it down the road.

 

[Rewire]

I wonder if an ISF check would go through or not.

 

[chris1971]

I wonder if an ISF check would go through or not.

That would be a good benefit.

 

[GUNNING]

Square up!

Square up!

I have had 2 ISF checks in 20 yrs & one never cleared. People just not paying me is a different story. THAT is a problem.

I am starting to really like the square up thing. I have never pushed credit cards before, but I am going to start. Money is there the next day and I don't have to drive it to the bank. If the checks work the same way Im all in!

 

[guschash]

I use Square and it is easy to use. Right from my IPhone .

 

[Fulthrotl]

I use Square and it is easy to use. Right from my IPhone .

same here.

wells fargo does scan to deposit on their iphone app as well.
i need to get it bumped up, the limit is $1,000 default,
and anyone knows you can't get much electrical done without
a comma in it somewhere.

it's also better than credit cards with square, which i also do,
but i seldom have anyone using a credit card, as most of my
work anymore is commercial or industrial, and i'm not doing
consumer stuff in residential.

checks immediately clear, so no bouncies, and you
can't do a merchant charge back on a check once it's cleared.

i deposit everything into a checking account that never
has a check written on it, and then, after three days,
i move it into the account where it gets spent. i've seldom
had a bouncie, maybe two in six years, but still...

deposits for work to be done, i move into a savings account i use
as an impound, then move it out after the work is done. you can't
spend money you haven't earned yet.

 

[PowerSupportElec]

Square is great because a lot of people want new stuff but don't have the money. "Oh, you take credit cards? Ok, then why don't you put in those high hats and generator connection now."

It's also valuable for when dealing with someone who might use the excuse "I don't have the money in my checking account right now, could you bill me?" I've made it a company policy to be paid in full for service work upon completion, now they have no excuse.

I always add the 2.75% onto the bill, now it's legal to do that.

Fulthrotl, what you said about having an account to deposit the money into and then move it out immediately was something that I did in the past. However, I stopped doing it when I learned that it really doesn't help because the bank will still come after you for the money if that check bounces a week later. The bank will always win, unfortunately. I'm not sure, but I wouldn't doubt it if the agreement says that they can take money directly out of other accounts if the funds are insufficient in one of them.

 

[Dennis Alwon]

Some banks are letting consumers scan and deposit a check through a smart phone. May look into it down the road.

My bank does that unfortunately I don't use the smart phone-- I have a stupid one but it does take pictures. The last one I had did not.