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  • Cheque Guarantee

    Seeing the message on payments, just a reminder to everyone that the cheque guarantee system comes to an end next month. I thought cheques were so outdated they wouldn't even appear on the shop, but I do still have people wanting to pay by cheque (which I am already declining).

    If you do take a cheque, even with a gurantee card, and the person is unable to honour the payment you will quite simply lose your money.


  • #2
    I still takes cheques for online payments occasionally but state that I withhold posting until the cheque has cleared. I have even had one payment by postal order not long ago.

    Pete
    "Where the spirit does not work with the hand, there is no art" ... Leonardo Da Vinci
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    • #3
      Postal Orders always have a good vibe for me, because my aunts used to send them in birthday cards to me (many moons ago now), but they still seem very special to me.

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      • #4
        Nothing is guaranteed!

        I made an online sale back in January for which the customer paid by Paypal. A couple of weeks ago I received a Paypal chargeback claiming that there had been fraudulent use of the customers card. Paypal took ALL the money from the sale plus an extra £7 in charges! Bearing in mind this was 4 months after the transaction had completed.

        I contacted the customer directly who confirmed it was their error and they paid me all the money back by cheque...I have heard the same story has happened to lots of people.

        Mick
        Preserving your items and memories in Handmade custom jewellery Keepsake Gifts

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        • #5
          Originally posted by shpangle View Post
          Nothing is guaranteed!

          I made an online sale back in January for which the customer paid by Paypal. A couple of weeks ago I received a Paypal chargeback claiming that there had been fraudulent use of the customers card. Paypal took ALL the money from the sale plus an extra £7 in charges! Bearing in mind this was 4 months after the transaction had completed.

          I contacted the customer directly who confirmed it was their error and they paid me all the money back by cheque...I have heard the same story has happened to lots of people.

          Mick

          So very true, we had a problem similar with Paypal after months, remember Paypal is not a bank, so the Ombudsman cannot help:-(

          Even with card payments a chargeback can be raised up to 4 months after the transaction, luckily we have only had one, which we were able to resolve with the customer.

          For a cheque to be completely cleared can take up to 6 weeks.

          Sometimes we just have to work on trust?

          Jane
          www.just-soaps.com
          Twitter JUSTSOAPS
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          Natural Handmade Olive Oil Soaps and Skincare free from SLS, Parabens, and other Nasties

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          • #6
            I've been in correspondence with the Payments Council over this - they oversee and co-ordinate the banks' decisions on this kind of thing. I've urged them to make the banks set up an alternative payments system to help small businesses, even if it's just as simple as making chip and pin machines more affordable, but they say they can't make the banks do anything. They believe that the banks will come up with an alternative to cheques and guarantee cards at some point. Not very satisfactory, is it?
            Daesul

            http://www.clairemanwani.com
            http://www.folksy.com/shops/clairemanwani
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            • #7
              I Agree with everyone, it is sometimes purely down to trust and that is no way to do business. I think the scary thing is that Paypal can make their own decision to deduct the funds without consultation.

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              • #8
                I too have written to the payments council but got a standard reply amd going to contact my own bank and put my feelings to them, not that it will do any good but if enough small business's complain may make them rethink. As for paypal having had an unauthorised payment of £424.00 taken the other week, okay it was sorted but a scary time!

                I have customers that I would still accept cheques from as they have been around a long time but would not accept from strangers, so cash sales only it is.
                Last edited by Caroleecrafts; 18-05-2011, 05:08 AM.

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                • #9
                  I must admit that we stopped taking cheques quite a long time ago (January 2010), but it's still interesting to see that the "guarantee" system is finally ending - and hopefully cheques will go not long after - they're relatively expensive for us (we take most of our payments by BACS/Internet Banking transfer).

                  Credit Cards are just another whole minefield, but sadly unavoidable if you want to sell online!
                  --Matt

                  Web Development
                  Beads, Charms & Findings - Jersey Craft Shop

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                  • #10
                    Originally posted by matt.chatterley View Post
                    I must admit that we stopped taking cheques quite a long time ago (January 2010), but it's still interesting to see that the "guarantee" system is finally ending - and hopefully cheques will go not long after - they're relatively expensive for us (we take most of our payments by BACS/Internet Banking transfer).
                    Interestingly ~ our bank doesn't charge us for paying in cheques - but they do charge 1.5% for cash????

                    Jane
                    www.just-soaps.com
                    Twitter JUSTSOAPS
                    FB www.facebook.com/pages/Just-Soaps/258910018463
                    Natural Handmade Olive Oil Soaps and Skincare free from SLS, Parabens, and other Nasties

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                    • #11
                      Originally posted by greannancrafts View Post
                      Interestingly ~ our bank doesn't charge us for paying in cheques - but they do charge 1.5% for cash????

                      Jane
                      Now thats just bizarre!
                      --Matt

                      Web Development
                      Beads, Charms & Findings - Jersey Craft Shop

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                      • #12
                        Originally posted by matt.chatterley View Post
                        it's still interesting to see that the "guarantee" system is finally ending - and hopefully cheques will go not long after
                        Noooo! I use cheques a lot, so I don't want to see them go unless there's a good alternative. They are due to be phased out around 2018.

                        Apart from taking cheques from customers occasionally, how else will I book craft fairs etc? At the moment, payment is always required in advance by cheque.

                        I don't use a business bank account though, so there's no fee! I just make sure I keep very good accounts books so that everything can be accounted for.
                        Daesul

                        http://www.clairemanwani.com
                        http://www.folksy.com/shops/clairemanwani
                        http://www.etsy.com/uk/shop/ClaireManwaniPottery

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                        • #13
                          Originally posted by greannancrafts View Post
                          Interestingly ~ our bank doesn't charge us for paying in cheques - but they do charge 1.5% for cash????

                          Jane
                          Santander don't charge anything for business banking. Cash payments in are free up to £3000 a month then a similar charge to what you pay applies on anything over that. At my working out if you did pay the £3000 in every month you would save £540 a year in costs. That would more than cover the cost of having a mobile EFT.
                          http://www.dosrodgerspottery.co.uk/

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                          • #14
                            Originally posted by potpartner View Post
                            Santander don't charge anything for business banking. Cash payments in are free up to £3000 a month then a similar charge to what you pay applies on anything over that. At my working out if you did pay the £3000 in every month you would save £540 a year in costs. That would more than cover the cost of having a mobile EFT.
                            You are absolutely correct, that is why we bank with them;-)

                            Jane
                            www.just-soaps.com
                            Twitter JUSTSOAPS
                            FB www.facebook.com/pages/Just-Soaps/258910018463
                            Natural Handmade Olive Oil Soaps and Skincare free from SLS, Parabens, and other Nasties

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