You Guys Use Bank Checks?

I'm seeing this more and more with customers. Checks mailed directly to you(contractor) by the bank.

That's fine I guess, but the bank always takes their sweet ass time cutting that check. I'm currently waiting for no less than 4 bank checks, which are currently in the ether on their way to me. They always arrive, but it's annoying as **** when you're trying to close the books on jobs.

What's the advantage of the bank check over a standard checkbook like I've always used? Get to dangle your money over a poor painter's head for longer?

Haters gonna hate.

dont have to pay for the stamp, or the envelope, cant remember the last time I have purchased either

The bank of course removes the funds from your account as soon as you hit send, seems to be a 3 day turn around on most here, I just checked and if I send one now, would arrive on Saturday

Nope. Just got rid of my big contractor checkbook last year and got a regular one lol.

Office prints checks out of quick books. I haven't written a check in probably six months and that was a sub in an emergency

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I've got two customers that have done it...forever. I don't like it but....

It used to take 8-10 days to get the check. Now it seems more like 3-4.
If they make the transaction Thursday or Friday...a couple of days longer.

Basically sums up the situation.

All excellent customers that give me steady work and referrals. I'm not going to rock that boat, but when I do 4 bank check jobs in a row, it gets annoying waiting. Plus, with my newfound anxiety-ridden self, how am I supposed to sleep at night knowing USPS has their grimy little hands all over my money?

See if you can setup a bank transfer with them. I had one that did the bank check thing. They did it because of several accounts and only write certain checks out of certain ones with a main account that funds all of them.

They liked it because they emailed their banker my invoice and never had to worry about it again. Now with the bank transfer nothing changes for them, I email the invoice and even CC the banker and have it transferred as soon as the owner says okay to transfer.

Bank checks clear immediately and the funds are good. Personal checks can bounce and you'll find out up to 20 days later and then potentially have little recourse to get funds without a lawyer and they have a completed job.

I never required bank checks from a customer unless they had previously bounced a check(happened twice in 15 years).

Good to see you, Ethan!

Had not considered the security aspect from my end.

Knock wood, but I've never gotten a bad check in 10 years. Only thing that came close was a check written from the incorrect account which was followed by an extremely frantic and apologetic voicemail while I was on the way home, followed by an overnighted check that arrived at my house the next morning. That dude was f'n thorough.

I have many who use the bank checks, a few customer who I have not seen in years. They are away at their other homes or working and its easier for them to do it from their phone or computer. Now it only takes 6 or so days to get the check.

Aside - isn't it weird how common it is to never see your customer?

I've done extensive amounts of work for people who I've literally never met. I get a garage code and a check left on the kitchen table after doing days and days and days of work in peoples' bedrooms.
It's what I expect as the contractor, but it's something I would NEVER be ok with at my own house!

Crazy, man.

Anyway, carry on with banking stuff. Maybe I should start doing the bank checks.

Not common at all for me. MOF, it's only been twice, and both times were well-referred landlords who needed something done in occupied rentals. Tenants were present, so access was no problem.

As for bank checks, haven't run into that. But after many years in my last life of getting a check monthly, 2-3 weeks out just isn't an issue. I don't budget Friday to Friday.

I can't stop feeling like the job is still "open" until I have the money. So, I'm thinking about 5 jobs at once right now, because I'm working on one while waiting for 4 checks.
I guess it's better to be owed than to owe though, right? Sort of?

Kinda like that "free" money after April 15th.

I've never recieved a bad check nor a bank check.


Mike.
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I have several customers that use a payment processing system. They submit my invoice to them, and they cut the check for the customer.

I used to get payments from HELOC checks before the housing crash. Haven't had one of them in years.


Mike.
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I use bank checks for all subcontractors. I log in, enter the amount, done. All their info is already there from the first time.

On the flip side, I encourage my customers to use quickbooks payments for me. Which takes even longer, but then I don't have to go to the bank to deposit. They have a new option which gives you the money next day, but it costs 1% or $10 max, which for me would be $10 80-100 times a year.

A world of options out there.

As always, glad I asked.

I personally like having money in the pipeline. We have quite a few commercial clients that we don't expect payment for 30 days. Not uncommon to have 4-10 checks in the pipeline. I sometimes forget about checks coming & when I open the mailbox & get a $2k surprise, it's kinda like Christmas.

As for bank checks, never heard of such a thing. Didn't even know they existed. Must be a millineal thing.