Interesting comment Jas, if you were a supplier of mine and failed to list direct deposit details I would seek them out and your payment would be delayed.
My business runs 90% COD
Yep all my regular suppliers, I have their banking details for. but sometimes i give them a cheque. It is actually amazing that when a delivery driver turns up, they get grumpy at waiting for me to log in and make the payment and print off a receipt, but they are happy to wait while i write a cheque.,,go figure.
As I am COD, sometimes i need support from my suppliers. I tell them before delivery, that payment will be by cheque.. They ask when they can bank it. They know I run on the knifes edge and support me. Sounds difficult to some, but its much better than a monthly account that has no money at the end of the month.
If you were a client of mine and paid by cheque I would be vaguely annoyed as I would need to go out and queue at the bank or send an employee to do same.
Damm right! The 3 biggest insurance companies in the country pay by CHEQUE! IAG (RACV and subsiduries) Suncorp (AAMI and subsiduries) Wesfarmers. RACV if i do not use a factoring company, i will wait 90 days for the cheque....thats if they don't send it to the client. Allianze, Zurich and QBE manage to read the bottom of the invoice and drop it into my account within 7 days.
The only thing that surprises me about this thread is that bank runs still exist.
I'm pretty sure i touched on this in an earlier response. I agree. the bank technology is out there that its uncalled for. Stopping them takes away an avenue of blokes gaining numbers to upgrade.
