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John Mart

Re: Royal Mail Door to Door
« Reply #140 on: November 11, 2018, 11:45:47 am »
surely by using the GC to the amount lee does then the money being in his bank quicker than B/Tansfer ,he gains interest on his account which would cover  or help cover transaction payments  ??? ??? ??? ??? ???
90% of customers pay within 3/4 days though. GC is7 days I think.

Cash flow - I guess you'll have a certain % of your turnover outstanding, that'll be fairly constant, raising slightly throughout the month with a higher portion coming in around the end/beginning of the month. That % grows as you do. Switching everyone to direct debits would fix that percentage and reduce instances of debt write off.

Fees - 1% is pretty fair. Don't forget:

The Santander app is rubbish, paying in is a pain often taking 10-15 minutes at the machine and the search facility for transactions on the website is rubbish. You get what you pay for I guess.
I agree 1% is ok, but don’t forget under £20 it is higher as the minimum is 20p.

I offer it, but I see no benefit in moving someone who pays within 48 hours to 7 days with Gocardless and to have to pay for the privilege. Each to their own though.

Crystal-clear

  • Posts: 3029
Re: Royal Mail Door to Door
« Reply #141 on: November 11, 2018, 12:14:28 pm »
surely by using the GC to the amount lee does then the money being in his bank quicker than B/Tansfer ,he gains interest on his account which would cover  or help cover transaction payments  ??? ??? ??? ??? ???
90% of customers pay within 3/4 days though. GC is7 days I think.

Cash flow - I guess you'll have a certain % of your turnover outstanding, that'll be fairly constant, raising slightly throughout the month with a higher portion coming in around the end/beginning of the month. That % grows as you do. Switching everyone to direct debits would fix that percentage and reduce instances of debt write off.

Fees - 1% is pretty fair. Don't forget:

The Santander app is rubbish, paying in is a pain often taking 10-15 minutes at the machine and the search facility for transactions on the website is rubbish. You get what you pay for I guess.
I agree 1% is ok, but don’t forget under £20 it is higher as the minimum is 20p.

I offer it, but I see no benefit in moving someone who pays within 48 hours to 7 days with Gocardless and to have to pay for the privilege. Each to their own though.
It's true there's no benefit if that's the case may I ask you do you allow 10 working days for payment or are you more strict on that?

One other thing as you got quite a few vans going and obviously a lot of customers I can tell you from my point of view Cross referencing BACS payments and things like that does take up working hours I know I can do it when I'm home and stuff like that but it still is annoying now your scale I think it will be super annoying but then again it's just business isn't it. I think that would be another benefit it would save some admin for you well quite a lot obviously. And then you have the unidentified BACS transfer which you can't identify and you only find out later.
I have my fair share of "window cleaner" reference  ;)
Probably from the spouse who hasn't paid before
Gocardless does help eliminate that what's your thoughts

John Mart

Re: Royal Mail Door to Door
« Reply #142 on: November 11, 2018, 01:11:55 pm »
surely by using the GC to the amount lee does then the money being in his bank quicker than B/Tansfer ,he gains interest on his account which would cover  or help cover transaction payments  ??? ??? ??? ??? ???
90% of customers pay within 3/4 days though. GC is7 days I think.

Cash flow - I guess you'll have a certain % of your turnover outstanding, that'll be fairly constant, raising slightly throughout the month with a higher portion coming in around the end/beginning of the month. That % grows as you do. Switching everyone to direct debits would fix that percentage and reduce instances of debt write off.

Fees - 1% is pretty fair. Don't forget:

The Santander app is rubbish, paying in is a pain often taking 10-15 minutes at the machine and the search facility for transactions on the website is rubbish. You get what you pay for I guess.
I agree 1% is ok, but don’t forget under £20 it is higher as the minimum is 20p.

I offer it, but I see no benefit in moving someone who pays within 48 hours to 7 days with Gocardless and to have to pay for the privilege. Each to their own though.
It's true there's no benefit if that's the case may I ask you do you allow 10 working days for payment or are you more strict on that?

One other thing as you got quite a few vans going and obviously a lot of customers I can tell you from my point of view Cross referencing BACS payments and things like that does take up working hours I know I can do it when I'm home and stuff like that but it still is annoying now your scale I think it will be super annoying but then again it's just business isn't it. I think that would be another benefit it would save some admin for you well quite a lot obviously. And then you have the unidentified BACS transfer which you can't identify and you only find out later.
I have my fair share of "window cleaner" reference  ;)
Probably from the spouse who hasn't paid before
Gocardless does help eliminate that what's your thoughts
It does take some time and there are annoyances and there are occasional errors. But I do have the time to be truthful.