some credit card companies allow you to process checks same as
credit cards… mine does, so this is the course I would take for a
$3,000 order, especially from an unknown client. On the other hand,
knowing someone is no guarantee of payment. I am 2 months awaiting
payment from a friend (through temple and our martial arts school).
But he assures me his wife loves the piece!
regards
Donna Blow
Happy Chanukah and Merry Christmas to those who celebrate!
I know it seem silly, but I know several people who will NOT use debit cards.
The difference between credit and debit cards is where the money
comes from. With credit cards the merchant is paid by the credit card
company who then bills the consumer. With debit cards the money is
transferred from the consumer’s bank account.
This issue can be important during a dispute or fraud. With the
debit card the consumer has to go ask for bank for the money back.
With a credit card the consumer is still in control of the money and
not pay the credit card company until the issue is resolved. This
difference of who controls the money and fear of having a bank
account cleaned out keeps people from using debit cards.
Norman
Thanks everyone for your input about accepting checks at trade shows
vs. Credit Cards. I needed that reality kick in the pants! I’m going
to print out some of these so that when I attend the shows I can
refer back to them when my resolve starts to falter!
One more question, if you don’t mind… This is geared towards store
owners…
When you buy from designers, how do you pay? Would it turn you off if
you were picking up a new line and they asked for a credit card for a
deposit? I know of some designers at JCK (in the design section) who
require a 15% non-refundable deposit, and I don’t think it hurts
their business. However, I do the California Gift Show and the Rosen
Show (and the alternative Philly show in Winter because I can’t get
into Philly in the winter yet-- I"ll post more on that one later!),
and I don’t know how the buyers there would respond. Especially Cal
Gift, kinda a smaller show in terms of “handmade jewelry”.
I’m a little stuck. I’m not desperate, I don’t want to appear
desperate, but I need to do a certain amount at these shows if I’m
gonna make it. So, I need to increase sales without appearing needy.
But, I need to CMA- and make sure I get paid for what I produce!!!
Any suggestions would be greatly appreciated!
Thanks,
Amery
Just walked in on the middle of this thread, but I think I get the
gist of it. Almost all of the bounced checks I have had involved an
old-time, embarrassed client calling me and saying, “Our bank (Dare I
say it’s almost always initialed W.F) made a mistake, please forgive
us!” Otherwise, Company Policy is plain: “Bounce a check, take a
hike!”