Why do some businesses take so long to deposit a check?
Because most of them now receive payment-transactions with debit or credit cards. Checks are no longer the norm with many businesses. Too many checks were rubbery. Cheaper for the vendor to pay a 2.5-3% card-service fee than to employ a person whose primary duty was to chase down bad-check funds - sometimes unsuccessfully. BTW - This thread sure took a tangent.....
That's a tradition here isn't it? :-)
Funny in the 30 plus years I've been in business I've only received one bad check and that was another business owner. Tried accepting credit cards but didn't get enough people that wanted to use one to make it worth the monthly fee. The straw that broke the camel's back was when a mail order customer did a charge back on me claiming he never got what he ordered. I had proof as his partner signed for the order, but the CC company refused to back me and told me to eat it. Said it it was part of doing business!
May try it again in the future though.
If pigs could fly bacon would be harder to come by and there would be a lot of damaged trees.
Cheaper for the vendor to pay a 2.5-3% card-service fee than to employ a person whose primary duty was to chase down bad-check funds - sometimes unsuccessfully.
