I just don’t get it……

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DavidMcmillan

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I have been doing some consulting work with a small ( aproxx 8 million annual revenue) profitable business. The business is operated by two brothers, and their mother runs the office. Form the beginning days, she has always held her pay checks for two months before depositing. In the early days she told me she was always concerned about the cash flow, but now it is just a habit. Their operating account balance stays between $150,000 and $300,000. Old habits die hard.
 

jakeman

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I write personal checks at the feed store, the dry cleaners and for the farrier. A book of checks last me a very long time.

For the home building business, everyone gets paid with a check except the guy that hauls dirt & sand. He wants cash. As long as he gives me an invoice it don’t matter much. He’s also known to wait 4-5 months to bring an invoice. That drives me a little nutz, but he’s a good dude so we deal with it.

When I do consulting/inspection work, everyone wants an invoice and they all write me checks. I live in a small town and bank where I live so it’s not a big deal.

I know folks that carry no cash, and I can’t do that. What if ya wanted to buy a taco or a hot dog from a street vendor? Or a watermelon or tomato from a roadside stand? I’ve always got a couple hundred in cash in my pocket. I can’t stand being cash broke.
 

Shinneryfarmer

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My wife was bad about hanging onto her pay checks. The lady that did the payroll and books would call her or tell me that she needs to go deposit or cash her paychecks cause it aggravated her when those checks hadn't cleared the bank. Once she caught me at the store and pleaded with me to make her go cash or deposit her checks I think at that time my wife was holding thirteen of them. What would make them madder was when she finally did she would only deposit about half and hang on to half. They finally set her up on direct deposit to keep her from holding them.
 

DavidMcmillan

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My wife was bad about hanging onto her pay checks. The lady that did the payroll and books would call her or tell me that she needs to go deposit or cash her paychecks cause it aggravated her when those checks hadn't cleared the bank.
That’s how I found out about the mother holding her checks. Talking with their bookkeeper, that was her major complaint about her job.

Sounds like you are just letting your wife have too much cash! Let us know how that works out for you.
 

dennishoddy

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No I mean you can deposit your checks by phone without leaving your house…. I keep one major bank around for that reason alone
Exactly. When we get rent checks for the farms sent to the house while we are on the road in the RV, wife has the house sitter open them and text her a pic of the check. Our bank accepts a text image of a check and it's done. All of our banking is done over the phone now.
Oklahoma is pretty easy to use a CC although it's changing because of the fees. Most other states are charging a premium for using a CC by adding a percent or two over the CC's fees and won't take out of town checks. They prefer cash.
 

retrieverman

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We did the same driving to Piedmont on a couple hundred buck check and the bank refused to cash it because we were not a member of their bank. Effin pissed me off royal!
Some banks are hard to deal with. A couple wanted to charge me $25 to cash a check, and that’s a big negatory for me. I’m not paying someone to give me my money. :finger:
 

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