The Checks in the Mail..............OR? - Posted by David Alexander

Posted by Michael Murray on March 13, 1999 at 18:07:23:

nt.

The Checks in the Mail…OR? - Posted by David Alexander

Posted by David Alexander on March 12, 1999 at 19:47:27:

It went into the great abyss somewhere and who knows when it will turn up. Guy making payments on a house sent me a Money Order on the Friday before the 1st of March. I’ve never received it. He has the receipt and I will pick it up tomorrow. The problem is I believe him. I sent a check from Dallas on Feb. 15, to a contractor where the same thing happened, it dissappeared, so I paid him in cash a few days latter. The check resurfaced March 8th, with a postmark of Feb. 17th.

How would you handle this? I’ve already made the payment.
Would you make it the buyers problem. Their pretty scared and have called the Money Order Company, it’ll take 30 days to reimburse. He suggested paying me directly from now on.
I would rather collect by mail, I don’t want a job. I receive my mail at one of those postal/shipping centers.

David Alexander

Re: The Checks in the Mail…OR? - Posted by DanM(OR)

Posted by DanM(OR) on March 13, 1999 at 07:54:30:

David,

What John said is a great idea. I also use a checking service by the internet. It costs $.99 per check and they even run several cross checks for you. If the person you are getting money from doesn’t have Internet access, you could also do it by phone and then do it online. Let me know if you want more info. Take out the NOSPAM in my email address: djmNOSPAM@bendnet.com

Best of luck! It’s was nice meeting you in Dallas!

Dan

Check by phone or autodebit. - Posted by John Behle

Posted by John Behle on March 12, 1999 at 22:06:17:

Either set up an automatic transfer from their checking or do a check by phone system. Neither are very much to set up. You could also just set up a bank account for them to deposit or transfer direct in to.

Re: The Checks in the Mail…OR? - Posted by Zuriel

Posted by Zuriel on March 12, 1999 at 20:16:05:

I try when possible to get my tenant(s) to do electronic payment by setting up an account where they deposit the money. I use PC banking to then transfer the funds to my general funds account. This process is described in my contract with the tenant.

Hey Buddy - Posted by Dirk Roach

Posted by Dirk Roach on March 12, 1999 at 19:54:42:

Hi David,
It sounds to me that this is a job for “Direct Deposit” , remember what Jeff Taylor said @ the convention.
Hey it was great hanging out with you David.
Dirk

Re: Hey Buddy - Posted by David Alexander

Posted by David Alexander on March 12, 1999 at 20:08:19:

Yes it was, anyone up for one every six months.LOL.

I doubt these people have a checking/bank account.

David Alexander

Re: Hey Buddy - Posted by KevinMiami

Posted by KevinMiami on March 12, 1999 at 22:51:08:

Western Union & Moneygram have an electronics funds transfer system which might be convenient for these people (can be paid at a Western Union or Moneygram location, which is probably the same place that they now buy money orders). You can get info on these service @
MoneyGram - http://www.moneygram.com/consumer/Products/express_payment.asp
Western Union - http://www.westernunion.com/english/commercial/payments.html

Re: Hey Buddy - Posted by Charles - DFW

Posted by Charles - DFW on March 12, 1999 at 22:30:45:

Give them your bank deposit slips. They can go
to your bank, or any of its branches and deposit the cash.

I don’t know… - Posted by Bo (GA)

Posted by Bo (GA) on March 13, 1999 at 10:28:02:

Charles:

I have had similar thoughts, but decided against giving anybody my checking accout number, which will be on the deposit slip, after I heard about the “Nigerian money transfer scam”. The “Reader’s Digest” version is that unsupecting individuals sent their account numbers to scam artists in Nigeria, who then were able to take money out from their bank accounts by simply knowing the account numbers.

I believe that is possible, as I recently bought a software package called “Versa-check” (with 100% honest intentions) which allows you to print your own checks, only by copying the data on one of your existing ones. The package also recommends(!) that you scan your signature and print it too, at the same time as you print the check. What is stopping anybody with illegal motivation from printing the number on your deposit slip and scan your signature from the rental agreement?

Food for thoughts…

Single account for the property - Posted by John Behle

Posted by John Behle on March 13, 1999 at 20:22:05:

I would never give anyone deposit slips for any substantial account, but I would set up a separate account for that property. It still has some risk that they could scam you, but anyone could do that.

With the Versa Check and other programs, it would be extremely simple to do a check from anyone’s account if you have the number - even from a check they give you. The risks grow every day.