I was just going to say money, but your answer is more precise :) On Friday, June 29, 2018, Lewis Bergman <[email protected]> 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 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 > 10k in one month. > > So why do people still do it...they can do simple arithmetic? > > You do raise some valid points. If you have to have the money and can't > wait two days and so want to pay an effective annual interest rate that is > enormous. > > If you are drafting the routing and account info is your customers not > yours. > > I had someone fraudulently present a check for 92k on my account. Maybe > that proves your point, but the bank credited my account in a couple of > weeks and it really wasn't a big deal to get done. Only time it has ever > happened. So again, the math tells me even if that happened every year one > time instead of once in twenty years, and I didn't get my money back, I > would still be better off using ACH. > > But, to each his own. I know a lot of people don't like the 2 day > settlement period for ACH. in truth, CC is longer. You have what... 60 days > for someone to contest a charge. While they do it the bank takes the money > back. Not that that is a big risk. Probably about the same as someone's ACH > not clearing. > > On Thu, Jun 28, 2018, 9:39 PM Matt Hoppes <mattlists@ > rivervalleyinternet.net> wrote: > >> 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 checks or beyond me. >> >> A credit card is: >> Instant (funds transfer immediately, you instantly know if the funds are >> coming or not) >> >> Secure (there is a CVV code required - just having the number gets you >> nowhere) >> >> Safe (if someone does steal your card they won’t wipe out your account >> and you can quickly get the funds/transactions reversed) >> >> Easy to dispute >> >> >> I have one vendor I pay via check every month because they won’t take >> cards. Otherwise everything I pay personally and business is on CC. >> >> >> On Jun 28, 2018, at 21:59, David Sovereen <[email protected]> >> wrote: >> >> 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, MI 48640 >> 989.837.3790 x151 office | 888.866.4638 toll free | 989.837.3780 fax >> >> Telephone * | *Internet* | *Security Alarm Monitoring >> >> [email protected] >> www.mercury.net >> >> <image001.png> >> >> >> >> On Jun 28, 2018, at 6:51 PM, Lewis Bergman <[email protected]> >> wrote: >> >> 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 <mattlists@ >> rivervalleyinternet.net> wrote: >> >>> 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 <[email protected]> >>> wrote: >>> >>> 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 PM Matt Hoppes <mattlists@ >>> rivervalleyinternet.net> wrote: >>> >>>> Hey CH is a pain in my neck. Yes I don’t have to pay fees with the fees >>>> are very small, but I am not guaranteed my money, and then I have to chase >>>> balances and add fees and remove payments. >>>> >>>> On Jun 28, 2018, at 17:20, Eric Kuhnke <[email protected]> wrote: >>>> >>>> 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. >>>> >>>> -- >>>> AF mailing list >>>> [email protected] >>>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>>> >>>> -- >>>> AF mailing list >>>> [email protected] >>>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>>> >>> -- >>> AF mailing list >>> [email protected] >>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>> >>> -- >>> AF mailing list >>> [email protected] >>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >>> >> -- >> AF mailing list >> [email protected] >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >> >> -- >> AF mailing list >> [email protected] >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >> >> -- >> AF mailing list >> [email protected] >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >> >
-- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com
