Thoughts on going direct deposit

[Vermonter]

now with my phone depositing check, that is a small business pleasure.

Exactly. With the older population we have here, don't see paper checks disappearing anytime soon

 

[Fernando]

My tenant early this month said wait until a week later to deposit the check.
I left the checks on my desk and forgot about it until this morning.
I like my tenants sending direct deposit on their rents whenever possible.

 

[Fernando]

I just got email that my direct deposit is coming.
I like that better than waiting for the mail check.

 

[Tom4value]

Hi, I posted here before and got a lot of good replies. I'm a Licensed appraiser working in San Antonio. I'm working with my supervisor until I become certified and she retires. In doing that, she gave me a lot of advice on going out on my own. She is a very good appraiser but is kind of old-school. Part of the reason she has decided to retire is because she doesn't want to try to keep up with the new technologies and the lack of personal interaction anymore. But she has told me I should try to go direct deposit because she has relied on mailed checks for most of her career but recently she has warned me that the checks are either coming in very slowly or she keeps getting asked if she was paid or not and then has to send in an email asking for a new check. So, does anyone have thoughts on going direct deposit instead of mail-in check?

Unfortunately, I am like your supervisor, old school. I enter new technologies kicking and screaming, hanging onto the drapes. I prefer checks mailed. The checks detail which files are being paid. When I get them, I match it to my appraisal in my Excel spreadsheet, check it off as paid and when, then go to the bank and deposit it, carving it up between my business account and house account, …and cash for my wallet. Easy, peasy.

With direct deposit, it is usually multiple files. I have to first see the lump sum going into my account, then go into the portal and try and match it up with the files. Sometimes easy, sometimes not. Then I have to transfer the money out of the business account to the house account. Then go to the bank, anyway, to get cash.

Now the fun part. Most clients shoot me an email saying they are making a payment. I then have to keep checking my bank account for the next few days to see when it hits my account. Many times, multiple clients make payments and I have to decipher which deposit is from which client. Sometimes, I can’t tell.

However, I have a couple clients that use a 3rd party portal. They shoot me an email and I have to log in, tell them to go ahead and pay it, another step! God forbid if there is a problem and I have to contact someone!

 

[Tom D]

when i was much younger, the 21st century was going to be paperless, but never really said less annoying. everything now is the minutia because everybody can see everything.

 

[timelessgizmo]

Thank you all, sorry I haven't posted, but have been very busy I appreciate all the answers. We recently switched our report writing software.