Anybody notice a huge increase in bad checks lately? Or is it just us? I’v gotten quite a few so far this month.
We leased a machine that works just like a credit card machine. Just run the check through the machine and it tells you instantly if the check is good or bad, if they want to pay by check on delivery we get their bank account number and punch it before the driver leaves. The machine rental is $15 a month and about 25 cents per check. This week we stopped a $50 check and a $40 check that were “bad”, so the customer just paid with their credit card.
normaly around this time of the year you will have more bad checks
We do not have an increase this time of year. We haven’t seen an increase trend, really. One here and there as usual.
We only take business checks and have only had two bounce in two years. Everyone has check cards now anyway and its very rare that anyone even asks. I suppose a machine would work but its just honestly not even an issue at all.
After receiving so many bad checks we just stopped taking them unless there business checks or from regular customers that come in often.
We haven’t noticed an increase, just our average 2 per week or so. We collect most through our county’s State Attorneys office. Even if we didn’t collect on any of them, it still amounts to a small fraction of my credit card fees.
Anyone use companies like CyberCollect or Bounce Back?
No change here. Bounced checks are still about a 1/3 of what CC fees would be on the same sales.
Clarification: There is NO machine that “tells you instantly if the check is good or bad”. Due to Banking regulations it is illegal to access a persons Checking Account to verify funds (besides those funds may not be available to you because of outstanding checks). The Machine checks a Check writer against a Bad Check writers Database to determine if the Check Writer is listed. If the check writer is listed, the Guarantee Service you are using will decline the Guarantee.
It has been my experience that unless you are receiving a large number of Returned Checks or checks with a High Transaction amount then Check Gaurantee service is not the best choice.
For example: I have a 4 location BBQ shop that was paying $600+ per month to Guarantee his checks. He averaged about $120 in returned checks per month. He was paying $600 to Guarantee $120. He has since stopped accepting Checks altogether.
we use cybercollect
like them a lot