Strange coincidence concerning payment

[rob1963]

In 25 years I've not once had a client ask if they can pay the balance by bank transfer, but I've had two clients both ask this today.

One is for this Saturday's 40th birthday party & the other is for a wedding in the middle of December.

I'm not really sure what they mean by bank transfer, as there are several ways of doing it, all of which take different lengths of time & some of which will involve them paying a charge.

Surely it's easier to either send a cheque in advance (like most clients do when they return the request form) or to take up the option of paying the balance in cash at the beginning of the evening?

Do the rest of you get many requests to pay by bank transfer, and have you ever had any problems accepting payment in this way?

[Dynamic Entertainment]

Nope, with internet banking Rob, you provide me with your sort code and account number and thats all thats needed.

[Corabar Entertainment]

Corporate clients often pay by BACS (free electronic bank transfer that takes less time than a cheque does to clear), but private individuals rarely ask for this option, but maybe that's because we automatically offer the option of debit/credit card online.

Certainly, the majority of people in this day and age seem to prefer electronic methods of payment to the hard copy cheque option.

Do you offer any electronic payment methods Rob?

[DJ Jules]

I'm not really sure what they mean by bank transfer, as there are several ways of doing it, all of which take different lengths of time & some of which will involve them paying a charge.

Surely it's easier to either send a cheque in advance (like most clients do when they return the request form) or to take up the option of paying the balance in cash at the beginning of the evening?

Do the rest of you get many requests to pay by bank transfer, and have you ever had any problems accepting payment in this way?

I have two commercial clients who pay by Bank Transfer and it's by far the quickest and easiest way to get payment. I don't have to go to the bank to cash a cheque or pay in notes, and I don't get charged by the bank for the privilege either. I can set up payment for someone else from my computer at home and with Lloyds TSB it is now instant paying to the majority of banks and completely free.

Cash on the night still has a nice feel to it, but it's a dying currency ;)

Julian

[Dynamic Entertainment]

Cheques are a dying breed. You actually have to put a proper request in for a cheque book with my bank now. They aint sent out as a matter of course anymore...and more and more shops/petrol stations/etc are not accepting them.

[Tom]

I haven't had any clients who have asked for this so far but when I send and receive money via online banking, it usually takes around 2 hours for the money to be sent or received . :)

[Charlie Brown]

Didn't you used to work in a bank Rob? :p

[Dynamic Entertainment]

Ins included as an option on all of my Invoices, and alot of people utilise it. So is paypal on my website but most prefer bank transfer/cheques/cash on the night.

[wensleydale]

BACS is how about 50% of my clients pay now- very easy for them and for me- no trips to bank.
Easy.
Just give them your sort code and acc no.
I have this on my booking confirmations anyway which "prompts" them to do this.
It usually takes 3 days but many banks now do faster payment which means that funds arrive immediately.

A corporate client paid their booking fee by CHAPS the other day which I thought would have cost them £25- a fair bit for a booking fee but I suppose thats up to them.

Embrace technology Mr James- its a wonderful thing.

[Vectis]

Quite a few, yes.

If your bank and their bank are part of the Faster Payments scheme, the transfer takes literally seconds. If not, it usually takes 2-3 banking days.

[CRAZY K]

In 25 years I've not once had a client ask if they can pay the balance by bank transfer, but I've had two clients both ask this today.

One is for this Saturday's 40th birthday party & the other is for a wedding in the middle of December.

I'm not really sure what they mean by bank transfer, as there are several ways of doing it, all of which take different lengths of time & some of which will involve them paying a charge.

Surely it's easier to either send a cheque in advance (like most clients do when they return the request form) or to take up the option of paying the balance in cash at the beginning of the evening?

Do the rest of you get many requests to pay by bank transfer, and have you ever had any problems accepting payment in this way?

Money collection problems--what are they:D

Cheques are dead---according to todays paper:eek:

Yes Corporates want to do this as its paperless and a few private clients also.

Presume you have Internet Banking so you can check if the money has been received 24/7.

Booche just sent me some money for a Radio Mike that way to my account by transfer from his bank--arrived same day--theres been a speed up on time for transfers---if its the same bank as yours it happens immediately--if they dont use your bank might take a day or two or three :eek:

With the Postal strike I decided to give up on cheques in the post and now use emailed Contracts and bank transfer or cash.

I spose if you dont have Internet Banking you can phone the bank to check.

Presumably they just do what we all do--get on the net and send money to pay for Credit Card bills, begging members of the family etc;)

The clients may think its odd if you cant accept money that way if you havent made things clear as its very popular now.

I do make it clear on my Contract in large letters, PREFERRED PAYMENT OF BALANCE CASH ON NIGHT-just so theres no misunderstanding:D :D :D

CRAZY K

[DJMaxG]

Didn't you used to work in a bank Rob? :p

:approve:

I use Internet Banking for personal use and if you're with the same bank as them, it is usually instant. If with competitors, it probably takes several days, and is free.

The only thing you have to do is provide your bank account details to the client, which is fairly safe, I guess - fingers crossed :eek:

[A1DL]

Do the rest of you get many requests to pay by bank transfer, and have you ever had any problems accepting payment in this way?

We receive many payments by bank transfer, be that electronic (internet banking) or customers paying in over the counter.

The only "problem" we encounter is unallocated payments, where a customer does not quote their booking reference number, name or some other clue as to whom the money originated from.

Occasionally it is possible to narrow the payer down to a handful of possibilities based on geography (receiving bank) and amount, but more often than not it's a case of waiting until someone says "I've already paid" after contacting them when they appear on the overdue debt report.

[DeckstarDeluxe]

Cheques are a dying breed. You actually have to put a proper request in for a cheque book with my bank now. They aint sent out as a matter of course anymore...and more and more shops/petrol stations/etc are not accepting them.


four years ago we (shell) stopped taking cheques.

[CRAZY K]

We receive many payments by bank transfer, be that electronic (internet banking) or customers paying in over the counter.

The only "problem" we encounter is unallocated payments, where a customer does not quote their booking reference number, name or some other clue as to whom the money originated from.

Occasionally it is possible to narrow the payer down to a handful of possibilities based on geography (receiving bank) and amount, but more often than not it's a case of waiting until someone says "I've already paid" after contacting them when they appear on the overdue debt report.

Tony, good point but I expect like me Rob doesnt have the large number of incoming payments that you have in your Bank Account so spotting any particular item would be fairly easy---especially as he normally gets a cheque---;)

This is the entry for the payment on my mike

20/11/2009 Remittance £25.15 £99.01
MICROPHONE
ALFRETON 32 REM


Alan
CRAZY K

[Shaun]

I get quite a few payments via BACS these days. So far, no issues.

[servoskull]

This is our stores new policy on cheques.....

http://i79.photobucket.com/albums/j132/servoskull/2009-11-25205402.jpg

[Booche]

This is the entry for the payment on my mike

20/11/2009 Remittance £25.15 £99.01
MICROPHONE
ALFRETON 32 REM


Alan
CRAZY K

:whistle: :whistle: :whistle: And it works great :)

[SC Events]

I want to set-up a couple of Online Payment options, but which should I use?

At the minute I only have PayPal, but that charges a fair bit to receive money and then transfer it to the bank.

Is Nochex any good?

[Vectis]

Over the years I've tried Nochex and Google Checkout and ended up binning them through lack of use.

PayPal works fine for me - OK so there's a few % to pay but compared to a full-blown merchant account it's a bargain for limited numbers of transactions.

Based on the first few months' figures after I introduced it, I worked out how much per year it was likely to cost, and built this into my overall fees. Don't forget that your fees are tax-deductible as expenses anyway.

The other option is to add a surcharge - I'm not 100% sure but I think Darren does this for credit cards (as opposed to debit cards) - but as a consumer I'll go out of my way to avoid paying these so I'd never impose it on my own clients.

[rob1963]

Do you offer any electronic payment methods Rob?

No, Angela.

Until today, everyone has paid by cheque or cash, and I've never even had a client ASK about alternative payment methods...apart from one a few years back who asked of they could pay by credit card. When I said no, they just sent a cheque instead.


Didn't you used to work in a bank Rob? :p

Yes Charlie. What does that have to do with this thread?


Embrace technology Mr James- its a wonderful thing.

I have, Rich.

I gave Saturday's client my bank account details (now I know how the victims on Fonejacker feel!), and came home to an email saying he'd transferred the money tonight & that it should show in my account by Friday.

I'm not sure what I'll do if it doesn't, though.


Tony, good point but I expect like me Rob doesnt have the large number of incoming payments that you have in your Bank Account so spotting any particular item would be fairly easy


Very true!

[CRAZY K]

I gave Saturday's client my bank account details (now I know how the victims on Fonejacker feel!), and came home to an email saying he'd transferred the money tonight & that it should show in my account by Friday.

I'm not sure what I'll do if it doesn't, though.



Thats the problem with not getting an advanced payment 14 days beforehand which I know a particular Agency insist on if your not paying cash.

I guess thats really what you need to do Rob ( next time)

Time to overhaul the business model?

Talking about changing the payment method days before the event is really a non starter for me:eek:

Not that I ask for advanced payments.

You could ask for proof of sending the payment if it doesnt arrive by tomorrow
otherwise you are somewhere between a rock and a hard place.

We really dont need this--I have someone who has been booked after a let down for Friday 4th Dec.

Now I left a message last night asking for an immediate call to sort out the deposit cheque or transfer payment. Nothing so far---and yet it was a desperate phone call to me to help someone out of a disaster situation.

I can tell you this--they wont be getting their entertainment if it the deposit doesnt arrive--sometimes you really wonder about people:bang:

CRAZY K

[Danno13]

I get them occasionally, but the majority pay by cheque or card (about a 60/40 split in favour of cheque)

[Steve the DJ]

Just over 80% of my clients pay their deposit and/or final payment by BACs/Faster Payments.

It's fast, minimal hassle (unless someone forgets to provide a name or booking reference), and most importantly FREE to both parties.

Highly recommended.

[rob1963]

Thats the problem with not getting an advanced payment 14 days beforehand which I know a particular Agency insist on if your not paying cash.

I guess thats really what you need to do Rob ( next time)

Time to overhaul the business model?

The trouble is that Saturday's booking was a short notice one (which is unusual for me), so the usual timescales did not apply, and this thing about accepting payment by bank transfer is new territory for me, and not knowing how it was sent I have no idea when it will arrive.

I have no problem accepting bank transfers if people ask, but in future I think I'll need to stipulate that they must be in my account a certain number of days before the function...probably two or three to be on the safe side.

[mark@pegasus]

My Christmas res asked me a couple of years ago if I was happy getting paid by transfer we are with different banks but it only takes a couple of hours to recieve the money. In the last 12 months I have started to get more and more private clients asking to pay like this all i ask in return is an email to confirm when they pay so that I can check with the bank and that it is done at least 3 working days prior.

[Steve the DJ]

I have no problem accepting bank transfers if people ask, but in future I think I'll need to stipulate that they must be in my account a certain number of days before the function...probably two or three to be on the safe side.

Or do what many of us do and ask for payment in full to reach you no later than 14 days prior to the event no matter what payment method they may choose.

[Solitaire Events Ltd]

The other option is to add a surcharge - I'm not 100% sure but I think Darren does this for credit cards (as opposed to debit cards) - but as a consumer I'll go out of my way to avoid paying these so I'd never impose it on my own clients.

Impose is an unfair term. They have the choice and I'd rather they pay by debit card which most people do when I tell them there's an extra charge for credit cards.

Have you ever booked a holiday on a credit card?

[rob1963]

Or do what many of us do and ask for payment in full to reach you no later than 14 days prior to the event no matter what payment method they may choose.

I could, and most clients DO pay two or three weeks in advance, but I like to offer the option to pay on the night if they like (strictly at the beginning of the evening in cash).

As I've mentioned before, there probably aren't MANY businesses that refuse to accept cash at the time they provide their service.

Having just checked my business account, the money already appears against yesterday's date, and is showing as cleared & available to withdraw, so everything is fine.

[Steve the DJ]

As I've mentioned before, there probably aren't MANY businesses that refuse to accept cash at the time they provide their service.


Maybe, maybe not.

I'll check at my next Wedding which of the other suppliers are getting paid in cash on the day. I'm guessing none, but I stand to be corrected.

Each to their own. :shrug:

[Danno13]

Over the years I've tried Nochex and Google Checkout and ended up binning them through lack of use.

PayPal works fine for me - OK so there's a few % to pay but compared to a full-blown merchant account it's a bargain for limited numbers of transactions.

Based on the first few months' figures after I introduced it, I worked out how much per year it was likely to cost, and built this into my overall fees. Don't forget that your fees are tax-deductible as expenses anyway.

The other option is to add a surcharge - I'm not 100% sure but I think Darren does this for credit cards (as opposed to debit cards) - but as a consumer I'll go out of my way to avoid paying these so I'd never impose it on my own clients.

Paypals charges are way above a proper merchant account! The only difference is you have to of course pay to rent the terminal, but over the year it's less than the fee for one gig, and well worth it for the convenience.

Regarding surcharges, I think people accept that they have to pay if they want credit - I don't surcharge for debit cards. I've never had any problem and only had one person decide to use debit over credit when told there was a fee for credit cards.

[Vectis]

Paypals charges are way above a proper merchant account!

They sure are.


The only difference is you have to of course pay to rent the terminal, but over the year it's less than the fee for one gig, and well worth it for the convenience.


My business isn't there yet. It's something I look at once or twice a year to see whether it's worth doing, but not yet. In the meantime, there's PayPal.



Regarding surcharges, I think people accept that they have to pay if they want credit - I don't surcharge for debit cards. I've never had any problem and only had one person decide to use debit over credit when told there was a fee for credit cards.

That person would be me then :p I've been faced with this a number of times, usually at hotels, and each time I've gone out of my way to avoid paying the surcharge - even to the extent of noting the policy at checkin, and then finding a cashpoint before checkout :)

When I used to travel a lot on business, the "surcharge" couldn't be reclaimed on expenses, so came out of my pocket. Hence my reluctance I think.

[rob1963]

I'll check at my next Wedding which of the other suppliers are getting paid in cash on the day. I'm guessing none, but I stand to be corrected.

You're missing my point, Steve.

At your next wedding, don't check which suppliers are ACTUALLY getting paid in cash on the day (as we both know most clients prefer to pay in advance), so check which suppliers DO accept cash on the day if a client WANTS to pay that way.

[Steve the DJ]

You're missing my point, Steve.

At your next wedding, don't check which suppliers are ACTUALLY getting paid in cash on the day (as we both know most clients prefer to pay in advance), so check which suppliers DO accept cash on the day if a client WANTS to pay that way.

I will and my response remains the same.

Unless I have been paid in full I don't leave the house and in my experience that is how the vast majority of other service providers work as well.

Maybe it is connected to the type of work I do therefore I lead a sheltered life! :d

[theoloyla]

I have worked for an agent for several years who pays me by bank transfer. It is definately the way forward.

[Danno13]

That person would be me then :p I've been faced with this a number of times, usually at hotels, and each time I've gone out of my way to avoid paying the surcharge - even to the extent of noting the policy at checkin, and then finding a cashpoint before checkout :)

When I used to travel a lot on business, the "surcharge" couldn't be reclaimed
on expenses, so came out of my pocket. Hence my reluctance I think.

And when you take that cash out, you will be charged a percentage if it's a credit card!

If you have the cash as "real money" then you can pay with a debit card and won't be charged.. simples :D

[CRAZY K]

And when you take that cash out, you will be charged a percentage if it's a credit card!

:D

Martin wouldnt be that stupid:D

ATM.

CRAZY K

[A1DL]

there probably aren't MANY businesses that refuse to accept cash at the time they provide their service.

I disagree. Our business for starters. Also, if I look at the purchase orders I have raised yesterday & today - Lyreco (stationery), Chubb (security), Calor Gas (fuel), Drawmer Electronics (repairs) and City Electrical Factors (stock) - only one out of five may possibly accept COD if we asked, the other four msot certainly wouldn't.

[rob1963]

Unless I have been paid in full I don't leave the house and in my experience that is how the vast majority of other service providers work as well.

If you choose to work that way, then fair enough.

However, I will continue to offer the cash option at the beginning of the evening.

Only a few customers choose to pay their balance this way, but when they do it saves me a trip to the bank & avoids the charges incurred each time I pay something into my business account.

[Steve the DJ]

Only a few customers choose to pay their balance this way, but when they do it saves me a trip to the bank & avoids the charges incurred each time I pay something into my business account.

So does BACs/Faster Payments, no fees, no trips to the bank and no wandering around with wads of cash ready to be mugged... :D

[rob1963]

I disagree. Our business for starters. Also, if I look at the purchase orders I have raised yesterday & today - Lyreco (stationery), Chubb (security), Calor Gas (fuel), Drawmer Electronics (repairs) and City Electrical Factors (stock) - only one out of five may possibly accept COD if we asked, the other four msot certainly wouldn't.

Fair enough, Tony, but I'm thinking more of small businesses, which at least a couple of those on your list aren't.

[Vectis]

avoids the charges incurred each time I pay something into my business account.

And I thought you were sorting that one out... tsch!

[rob1963]

And I thought you were sorting that one out... tsch!

I'm still thinking about it, but haven't made any decisions yet.

:shrug:

[Vectis]

What's there to think about?

a) do nothing and keep paying transaction fees

or

b) open a new account elsewhere and don't pay transaction fees

:confused:

[Dynamic Entertainment]

Just do what i do (at the advice of my banks business advisor).

1. get cash
2. pay it into my personal account for free
3. take paying in stub and attach to the relevent invoice
4. Using internet banking transfer it via "make a payment" into my business account, using the invoice number as the reference.

Bingo, all done, with a paper trail, and no fees to pay ;)

[rob1963]

What's there to think about?

a) do nothing and keep paying transaction fees

or

b) open a new account elsewhere and don't pay transaction fees

:confused:

To be honest Vectis, there are a couple of reasons why I haven't done anything yet.

Firstly, I only have a few more years of discos, and therefore only a few more years of account charges.

Secondly, the advantage of having my business account with NatWest (the bank I worked for) is that I know all their products, services, systems & processes inside out.

I reckon I'll end up sticking with the existing business account for the reasons above.


Just do what i do (at the advice of my banks business advisor).

1. get cash
2. pay it into my personal account for free
3. take paying in stub and attach to the relevent invoice
4. Using internet banking transfer it via "make a payment" into my business account, using the invoice number as the reference.

Bingo, all done, with a paper trail, and no fees to pay ;)

Interesting idea Steve, but I see two disadvantages.

The main one being that you have to insist on cash from all clients, which I think would be a massive problem. It's certainly not something I'd ever consider.

Secondly, it's a bit long winded paying the cash into one account, then going online & transferring it to the business account & remembering to quote the invoice number.

[CRAZY K]

[QUOTE=
The main one being that you have to insist on cash from all clients, which I think would be a massive problem.

[/QUOTE]

Only a problem if you make it one.:D

Apart from Corporate work--no problem at all--as a private client put it to me today--as long as you make it clear how you want paying---theres no problem.

CRAZY K

[Dynamic Entertainment]

Interesting idea Steve, but I see two disadvantages.

The main one being that you have to insist on cash from all clients, which I think would be a massive problem. It's certainly not something I'd ever consider.

I dont insist on cash as i still have my "ten cheques per month" allowance, and i accept bank transfers or online payments. I still have a few...especially older clients...who prefer to pay me cold hard cash. Ive even had a few deposits in said form.



Secondly, it's a bit long winded paying the cash into one account, then going online & transferring it to the business account & remembering to quote the invoice number.

Not really, its a trip to the bank which i would have had to make anyway and i log onto my internet banking every couple of days to make sure everythings running smooth. Its then literally ac case of clicking "Make A payment", then "Dynamic Entertainment", then entering the Amount and Ref (invoice) No. It literally takes me no more than 1 minute. :)

[wensleydale]

is there a reason why people have business specific accounts- i was under the impression that if you were a sole trader there was no reason why you couldnt just use a personal account- thereby getting better interest and no charges.
If not, Steves idea seems ideal- your sounding a little lazy Mr James saying transferring money from one account to the other is "long winded"- it should be a piece of cake for a man who used to work in a bank.

[yourdj]

Yes - today

- online banking costs nothing.

[Steve the DJ]

is there a reason why people have business specific accounts- i was under the impression that if you were a sole trader there was no reason why you couldnt just use a personal account- thereby getting better interest and no charges.

I thought it was best to have a business bank account for a number of reasons, many of which are summed up quite nicely in this article:

Sole Traders: Should you have a business bank account? (http://www.numerion.co.uk/londonaccountant/news/sole-traders-bank-account/)

Considering there are at least two free business bank accounts available I don't see any reason not to have one. :shrug:

[wensleydale]

I thought it was best to have a business bank account for a number of reasons, many of which are summed up quite nicely in this article:

Sole Traders: Should you have a business bank account? (http://www.numerion.co.uk/londonaccountant/news/sole-traders-bank-account/)

Considering there are at least two free business bank accounts available I don't see any reason not to have one. :shrug:

Fair enough- but I have a current account that I use solely for business transactions so therefore dont have any of the problems it mentions.

My point really was that I dont understand why people pay fees.

[Steve the DJ]

My point really was that I dont understand why people pay fees.

I imagine only the high turnover multi ops and ltd companies have banking charges, most "average" DJ companies (i.e. sole traders) will be perfectly served by a free business banking account.

I haven't paid a fee in 6 years.

[rob1963]

is there a reason why people have business specific accounts- i was under the impression that if you were a sole trader there was no reason why you couldnt just use a personal account

My reason for having a business account is simply that I think it looks more professional. Therefore, I see it as a necessary expense, although a very small one in the grand scheme of things.

I don't like the idea of getting people to make cheques payable to me personally & then paying them into a personal account.

Apart from that, there will always be clients who make cheques out to the business name in error, meaning you have the hassle of returning them & asking for a replacement payable to you as an individual.

If I dealt with a business but was asked to make out the cheque to an individual person rather than the business name, I'd think there was something dodgy going on, or maybe that it was a tax fiddle.

[wensleydale]

My reason for having a business account is simply that I think it looks more professional. Therefore, I see it as a necessary expense, although a very small one in the grand scheme of things.

I don't like the idea of getting people to make cheques payable to me personally & then paying them into a personal account.

Apart from that, there will always be clients who make cheques out to the business name in error, meaning you have the hassle of returning them & asking for a replacement payable to you as an individual.

If I dealt with a business but was asked to make out the cheque to an individual person rather than the business name, I'd think there was something dodgy going on, or maybe that it was a tax fiddle.

Given that half of my payments are by bacs the client never knows what name the account is in. Many of the rest are cash.
I would suspect that by the time you share payment details people have confirmed the booking so really don't think its a major issue.

[rob1963]

I would suspect that by the time you share payment details people have confirmed the booking so really don't think its a major issue.

In my case the covering letter I send with the booking form states their deposit cheque should be made payable to Rob James Entertainment, but nothing is confirmed by either the client OR myself until I receive the booking form & deposit cheque.

There is no right or wrong or business bank accounts or payment methods accepted...it's just down to each person's preferences for their business.


I haven't paid a fee in 6 years.

I pay at least £10 a month, as that's the bank's minimum monthly charge on my account...even if I don't use it!

[DJMaxG]

Internet banking is nice and easy :p



I pay at least £10 a month, as that's the bank's minimum monthly charge on my account...even if I don't use it!

A Small price to pay for a touch of Professionalism. But "at least" £10 a month sounds slightly worrying :eek:

[Dynamic Entertainment]

With HSBC their Intenet Business banking is "free" in that theres a cash handling cahrge at the counter, and i get an allowance of 10 cheques a month (after that is cahrged) so BACs is benifical to me and ive only ever had one charge (where i forgot the cash handling thing and lent my bro £600 which i took over the counter).

[CRAZY K]

My reason for having a business account is simply that I think it looks more professional. Therefore, I see it as a necessary expense, although a very small one in the grand scheme of things.

I don't like the idea of getting people to make cheques payable to me personally & then paying them into a personal account.

Apart from that, there will always be clients who make cheques out to the business name in error, meaning you have the hassle of returning them & asking for a replacement payable to you as an individual.

If I dealt with a business but was asked to make out the cheque to an individual person rather than the business name, I'd think there was something dodgy going on, or maybe that it was a tax fiddle.

You would be on your own then Rob.

I get booked by a number of Professional self employed people who believe me are on serious money--- I never have queries over payments--

Hotels I can understand---maybe?

We work for household names ( no names to protect the innocent ) no one seems worried---after all the Invoice goes to the Accounts Department---what do they care;)

Just my personal experience.

CRAZY K

[theoloyla]

And now they are going to phase out cheques

[rob1963]

And now they are going to phase out cheques

That won't effect me, as it isn't happening until late in 2018...a fair few years after my retirement.

[kilmeedyman]

C'mon Rob, with your background you should have this nailed.

Internet transfer (nowadays often same day) is the cheapest way forward surely?

[rob1963]

C'mon Rob, with your background you should have this nailed.

Internet transfer (nowadays often same day) is the cheapest way forward surely?

Indeed.

Funnily enough, I've had a few clients want to pay this way recently, so I've updated my website to acknowledge that I also accept payment by bank transfer (whether internet or not).

:)

[DJMaxG]

Some banks and building societys offer corporate pre-printed cheques, so I enquired about them, and the man said that your account number will be displayed on the cheque also, which I couldn't see a purpose in having, whether or not it speeds the clearence process up, I do not know.

[DeckstarDeluxe]

That won't effect me, as it isn't happening until late in 2018...a fair few years after my retirement.


Cheques hardly have a place in todays world let alone 2018 Rob. 2018 is more than likely when it'll be offically not a means of payment.

[wensleydale]

Some banks and building societys offer corporate pre-printed cheques, so I enquired about them, and the man said that your account number will be displayed on the cheque also, which I couldn't see a purpose in having, whether or not it speeds the clearence process up, I do not know.
All cheques have your account number on- its how they know where to take the money from.

[Charlie Brown]

Rob, are you with Natwest?

[DeckstarDeluxe]

All cheques have your account number on- its how they know where to take the money from.


which is why its not a good idea to use cheques. Odd to think about it now but we use to print card details on eft slips back when cheques were about too. Now I destroy anything with my card details and only time I let a third party have access to these details is for bacs or bank transfers for payment.

[DJMaxG]

Cheques hardly have a place in todays world let alone 2018 Rob. 2018 is more than likely when it'll be offically not a means of payment.

But, they have always been a traditional way to send funds, Postal orders are what have gone out the window a bit over the last few years. They are useful for paying for services either by post, or if you don't have the cash available at the time. It saves giving out your bank account details on a post-it note to the recipient.


which is why its not a good idea to use cheques. Odd to think about it now but we use to print card details on eft slips back when cheques were about too. Now I destroy anything with my card details and only time I let a third party have access to these details is for bacs or bank transfers for payment.

Yep, that doesn't solve the issue still. BACS is just as encouraging :)


Rob, are you with Natwest?

Ha, I bet you won't get an answer to that one :p

[Charlie Brown]

Ha, I bet you won't get an answer to that one :p

Why? :confused:

Just going to say that they are the best at online banking. I do a lot of it on my iPhone.

I use their free card reader a lot!

http://www.natwest.com/personal/online-banking/g1/banking-safely-online/card-reader.ashx

[DJMaxG]

Why? :confused:

There was a discussion a while back, where certain members were really confident about their banking security, and some weren't so much.



Just going to say that they are the best at online banking. I do a lot of it on my iPhone.

The Natwest internet banking is good, and especially with the card reader, but if it was a main account and you lost your card, or the batteries went down on the reader, then you would not have online banking capabilities, but that could probably be solved by a visit to the branch anyway.

I don't know which Internet Banking system is the best because, despite having a few accounts with different banks and building societys, I am not a member of all of them. But, certain ones will allow you to do certain things. For example, one of them will let me update my mobile number, where another won't, I have to print a "Change of address" form off, just to make a simple modification.

I do like Internet banking in general though, it saves visiting the branch four times a day ;)

I use their free card reader a lot!

http://www.natwest.com/personal/online-banking/g1/banking-safely-online/card-reader.ashx[/QUOTE]

[rob1963]

The Natwest internet banking is good, and especially with the card reader, but if it was a main account and you lost your card, or the batteries went down on the reader, then you would not have online banking capabilities,

That's not quite true, Max, as you only need to use the card reader for certain transactions.

I use Nat West internet banking almost daily (for my personal & business accounts), but have only needed to use my card reader once in the last 6 months, and that was to set up a new standing order.

[Charlie Brown]

I was going to say exactly the same Rob.

You can still do a fair bit without the card reader. :)

I believe it's the only bank that offers this service.

[DJMaxG]

That's not quite true, Max, as you only need to use the card reader for certain transactions.

I use Nat West internet banking almost daily (for my personal & business accounts), but have only needed to use my card reader once in the last 6 months, and that was to set up a new standing order.

It is required for adding new accounts/payees (people), and changing details.



I believe it's the only bank that offers this service.

The service is offered by Co-operative, Bank of Scottland, Abbey National (recently changed it's name) and Natwest, that I currently know of.