A bit of a diverse one this time. I wondered how many of you still accept cheques as a payment method ? Let me explain where I’m coming from. The majority of my clients pay by bank transfer or Standing order – its quick, instant and neat. I believe its a more efficient process for both Client and provider. I did a job in October and invoiced pretty much immediately and my client (nice company with a fairly modern set up but still hanging on to paper-based payments) (not so) promptly raised the cheque – which then waited for the MD to sign it, the Royal Mail to deliver it and me to get around to banking it all this meant that I finally banked the cheque on 14th December !
Now my bank and I wont name them but they have a Spanish name and a penchant for sponsoring formula one (you starting to get the picture?) don’t allow business clients to access their accounts from their branch network. Instead they have an arrangement where cheques are banked via the Post Office ! I’m advised this keeps costs down ??
When the cheque hadn’t hit my account by the first week in January I queried it – My bank said they hadn’t had the cheque and to contact the client – I contacted them and they assured me that it had been presented in their bank account on 21st December! Back to my bank who said they hadn’t presented it ! I would need to get a copy of the presented cheque (and they seem to doubt what I was telling them !). I went back to my client who say their bank will not provide a copy of the presented cheque – impasse !
I decided to research cheques and found this – Courtesy of BBA –
‘ Cheques are written orders from account holders instructing their banks to pay specified sums of money to named beneficiaries.They are not legal tender but are legal documents and their use is governed by the Bills of Exchange Act 1882,and the Cheques Acts of 1957 and 1992.’
Clear as mud ! – All I know is that I’m out of pocket and no one really wants to help – Guess what ? I am no longer accepting Cheques that’s it ! I was assured that by 2015 cheques would no longer be part of the business process well for Marknorthall.com they just died !
