whereasmost other forms of payment are not. Banks can reach into most
forms of payment and reverse them on their whim, checks are another
story when they are written on a valid account and accepted by the bank.
All that may have yet another iteration with the last changes by
congress.
That sounds more reasonable. If it's all automated, I can see it being a
big money saver, but if you are a small operation and have to have someone
checking on it every day, it may be more of a time and convenience issue. I
haven't looked at Freeside in quite some time, but I don't think it did
else. CC either
declined or passed and that was it. One and done. I only recall one
guy who disputed a CC charge.
-- Original Message --
From: "Lewis Bergman"
To: "AnimalFarm Microwave Users Group"
Sent: 6/29/2018 9:38:05 AM
Subject: Re: [AFMUG] How ACH works
My co
Yeah, propay has had it for a while I know. I was just curious about what
Lewis was using. That was a few years back.
On Fri, Jun 29, 2018 at 9:25 AM, Adair Winter
wrote:
> Propay and powercode does auto ach bounce back
>
> On Fri, Jun 29, 2018 at 9:23 AM Cameron Crum wrote:
>
>> I'm curious
I'm curious how your software knew of the bounced ach? I know with IPPay
they didn't have a way to report this back to the software until fairly
recently. What processor were you using? Or was it just someone checking
every day as part of their job?
Cameron
On Fri, Jun 29, 2018 at 8:52 AM,
> Checks are a very outdated method for payment
May be, but under US Law (Uniform Commercial Code)
a check is a "promisary note" and as such a contract to pay.
You can easily take someone to court over a bounced or bad
check.
--
Larry Smith
lesm...@ecsis.net
On Fri June 29 2018 08:43, Matt
Oh yes, we have people complain all the time that they went to the bank and
sent a check out but we never got it for another two weeks or so.
We also have people who say that their checks got lost in the mail or we get an
envelope that was never sealed.
Yet another reason why I tell people
My cost of doing business was lower, which is why I did it. Maybe yours
isn't. I will say it was a management push on my part to enforce policies
that got everyone on ACH if possible. ACH was free, CC wasn't. As a result,
maybe we had a more general cross section of our customer base on ACH that
It’s just the cost of doing business.
And yes they do have 60 days to contest it but most people don’t.
We have a small handful of ACH and the number of bounced transactions that
occurred there is much much much higher than anyone contesting a credit card
transactions.
> On Jun 29, 2018, at
I was just going to say money, but your answer is more precise :)
On Friday, June 29, 2018, Lewis Bergman wrote:
> If you can't figure it out maybe math is the issue. 25 cents for ACH. CC
> is 2.75% and up. If you are doing 400k a month in CC that adds up to about
> 10k more in fees. In all the
If you can't figure it out maybe math is the issue. 25 cents for ACH. CC is
2.75% and up. If you are doing 400k a month in CC that adds up to about 10k
more in fees. In all the time we did ACH we probably lost an additional 3k
that we would not have lost with CC. So 3k in 10 years is less than
ACH is slow (2 days to clear)
ACH is insecure (bank account numbers can be gotten off checks, etc)
ACH can wipe you out (if someone gets those account numbers)
ACH does not provide real-time-feedback (may not know things didn’t work until
it bounces two days later)
Why anyone still uses ACH or
Same here. ACH saves us a bundle, and once customers are used to the recurring
payment, there are few bounces. Once a payment does bounce, however, we only
take cash or card... guaranteed funds.
Dave
Sent from my iPhone
David Sovereen
Mercury Network Corporation
2719 Ashman Street, Midland,
That's true but if you assess a hefty enough penalty then they pay you for
it anyway. I used to make several thousand a month just off of late fees
and disconnect fees. We assessed a 25 dollar fee for any NSF.
On Thu, Jun 28, 2018, 4:49 PM Matt Hoppes
wrote:
> Sure but it takes two days for the
Sure but it takes two days for the failure to come back, so the customer can
use that to game the system if they feel so inclined. With a credit card the
acceptance or rejection is instant.
> On Jun 28, 2018, at 17:30, Lewis Bergman wrote:
>
> I guess it depends on your billing system, how it
I guess it depends on your billing system, how it cuts off people, etc.
Mine would accept payment, then reverse it and cut people off
automatically. One of the few things it did well. I was mostly ACH and it
saved me a couple of grand a month if I remember correctly.
On Thu, Jun 28, 2018 at 4:25
https://engineering.gusto.com/how-ach-works-a-developer-perspective-part-1/
Might be of interest for those of you whose billing systems are set up for
ACH direct debits via checking account numbers.
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