Thought on Accdepting Checks?
- Thread starter Joefuss21
- Start date
pitzerwm
Active member
Opens up another headache. Go talk to someone in retail and see what their loss ratio is. That is one of the advantages of this industry, cash. Even the guys taking CCs have a cost and some losses.
BillR
New member
We have been accepting checks for many years. I would not bother with it if I were you. Fifteen years ago checks were over 15% of our deposits, this year it will be less than 2%, and it is dropping every year. People are getting away from checks these days.
Waxman
Super Moderator
I accept checks; mainly in my detail shop. I have had exactly 2 problems w/checks since 1985. Not bad.
Indiana Wash
Member
Why wouldn't you accept checks? Just be sure to get positivie ID. Your employee should copy the drivers license number on to each check you accepts so that if there is a problem, law enforcement will prosecute.
BTW, back in the 80's, my father had a sign at his office that said, "RETURN CHECK CHARGE $1500". That isn't even legal in Indiana. It was a joke. You would be surprised at the number of people who would get their checkbooks out to pay, start writting their checks, look up and see that sign, then put their checkbooks away and pay cash!
BTW, back in the 80's, my father had a sign at his office that said, "RETURN CHECK CHARGE $1500". That isn't even legal in Indiana. It was a joke. You would be surprised at the number of people who would get their checkbooks out to pay, start writting their checks, look up and see that sign, then put their checkbooks away and pay cash!
