Any of you accept $$$ from customers via bank deposit?

[misshappy]

I see that selling things these days are hard as hell. And then I see tons of chargebacks occur on top of that so I was wondering...any of you guys actually accept form of regular deposit from customers? And by this I mean that you give your customer your bank account # so the customer can actually go into your bank and deposit $ themselves?

Just curious because by doing this way, there's no chargebacks. Please give me some input. Thank you!

[TrashyContent]

What sort of customer ? If your talking small amounts, like subscriptions then not really... I did once let a guy send me a check as he told me he didn't believe in credit cards... That was in the UK... and worked out fine.

For our content side of the business we pretty much always accept wire transfers, but then the size of the transactions are big, so thats really the only way... we're done paypal and western union too in the past...

[misshappy]

Yeah selling content to customers like maybe $50 per transaction. I don't want them to do wire transfer because my bank takes out around $30 per incoming so that won't be worth it for me. I was thinking I would give the customers my bank account # and they can just deposit the money into my bank directly themselves. Just wondering if there's any harm to this or if they can do any chargebacks at all? I don't think so but doesn't hurt to ask.

I don't want to get involved with paypal or ccbill because chargebacks are arising I heard through other friends. I probably won't get many customers as I would by accepting credit cards but just don't want to lose my money once they pay me if you know what I mean.

[BJ]

Yes its worth it. Sell 6month 1year memberships that way. Furthermore, a good majority of the world does not have a credit card, but has money and will pay and will pay transfer fees. You just need a way to verify the deposits.

[misshappy]

Hey BJ,

That's a good point I didn't think about verifying deposits. For instance, I have U.S Bank and when I go into the bank and want to do manual deposit into a friend's account, my name doesn't show up on the deposit transaction. Hm...

So how can I keep track of who deposit how much of what date, etc? Names or additional information of the deposit cannot be notated for U.S Bank. Any suggestions? Thanks.

[BJ]

you make the membership rate random and per customer. If you advertise 6 months for $120 and a customer selects to pay by bank transfer then the payment instructions are to pay EXACTLY 119.37 and the ammount changes per customer.

If its only a few customers than it doesn't matter so much.

[misshappy]

Great idea BJ. Thank you so much. I am going to ask you one more question so hope you don't mind please. So what if my bank (US BANK) is not available in the customer's area? Then do I ask the customer to do bill pay where they can just pay me via online banking as they would pay for their monthly bills? How do you handle this? Is there a charge like wire transfer fee for something like this? BIG THANKS!!!

[BJ]

you do not care about what your customer has to pay. You give them your account #, swift code etc. If they don't pay, fuck them, get a credit card like a normal person

[facialfreak]

I have accepted INTERAC EMAIL MONEY TRANSFERS from Canadian Clients for more than 4 years now ....

Canada is a pioneer in bank debit payments ... Bank debit cards were invented here!

[marlboroack]

I had a guy make a paxum account and validate it and everything just to send me a payment to my site, member is still there today. Never gone as far as a bank wire.

[asianseekerz]

well its depends on the situation!!!!

[EukerVoorn]

misshappy we have members transfering payments to us for 3 month and 1 year subscriptions, that's by what you call bank wire in the US? We call that bank transfer over here. You can automate this by enlisting a billing provider who does direct debit, like europaysolutions.com or webbilling.com . This last one also does direct debit in the US and Canada. What you say comes down to people going to the bank physically to deposit money on your account? Not a good idea...

Edit: if your bank charges $30 for an incoming wire maybe you should look for another bank. Also if you let your customers go out to go to the bank anyway, you might as well ask them to send you a cheque or cash and put that on the post. We do that too, some members have been sending in cash regularly for years already. Nice thing about cash is that it's tax free too

[edgeprod]

For amounts over $10,000, I prefer wire or bank deposit (I send them a stack of pre-printed deposit slips for monthly clients).

[global-girl]

Most of the billing methods we offer involve customers pushing funds from their account to yours.

In some countries, this form of payment method has become the norm so it's important to think outside the VISA/MASTERCARD box...

[raymor]

We've done that a few times using an account with a mega bank, JP Morgan Chase. They have branches all over the world.