Video transcription

There’s so much fraud going on when it comes to paper checks. You gotta be careful don’t wanna be out there, like it’s 1942, writing a check in the groceries, whatever.

I don’t like. I, as a web developer, I hated waiting for paper checks in the mail. There’s so many different services that you could use to get paid instantly. Like Nationwide payment systems, for instance. You can set up a merchant account and then you can send an invoice and the next thing you know, you have the money directly in your account.

That’s not what we’re talking about today, but it’s just one of the things that, when I’m saying businesses should be utilizing technology and making your business easier or smart, not hard. Make it easy for your customers to pay you. And it was interesting because, I got a couple of phone calls this week.

Yeah. And it was all about, Check fraud. So one of them was a guy we’ve been talking to who we were talking to ’em about getting set up with a payment link so that their customers, which are large commercial customers, so these are checks for three to $5,000 on the low side and on the high side they could be 10, 15,000 bucks or more.

Really? Yeah. And it’s a, they do commercial plumbing jobs for. Big companies like, major construction, so it’s ma people paying them like every week. So the guy was telling me, he said, they’re in a big quandary now. The police are involved, the fbi, what happened?

Whoa, what happened? Their office is in an office building. Somebody through investigation, gained access to the male area. because, it’s a building, so there’s mailboxes, right? And somebody obviously gained access into that area and stole checks out of several businesses.

Mailboxes Jerry. And then, if you’ve seen the movie, catch Me If You Can, right? Yeah. That’s the famous Czech kiting, check kiting. They call it movie where, he was actually making fake checks, but he was also. , talking about like later in the movie, like how are they removing the name with like acetone?

Yeah. And all that. And a lot of people are. . I’m not cheap. Okay. When it comes to like checks, cuz I have to send checks every once in a while to somebody. , because that’s the way you have to pay them. So I do buy checks, but I always buy the security checks. What’s the security checks?

So these security checks that are higher security, if you take it and put it on a copy machine Yeah. It immediately puts a watermark onto the copy. . And also if somebody tries to erase it, it’s not gonna work or they try to put chemical on it, the check’s gonna basically be ruined because it’s at least you got a better chance of that not happening.

Somebody not doing that. But in this case, what happened was somebody got into the God’s mailbox, got a hold of a half a dozen checks, ye erased the name off of a few of them. Was able to get them deposited into multiple bank accounts, of that the guy set up for bank accounts.

And then, because when you go to the bank, let’s say I walk in and I hand them a check for seven grand. , right? And then they put it in my banking account. They don’t give you like access to all the funds right away. Typically they give you access to some of it. So the person was able to get out.

Several hundred dollars or maybe a thousand bucks out of the, from each one of those checks. And then the check obviously was reported as fraud because when the person like me, let’s say I’m the one that sent the check, and then I see, oh, this check cleared, but it cleared. with some other name on it, right?

Hopefully people are monitoring their bank account. , right? One person didn’t spot it for a long time, cuz the guy’s Hey, we haven’t received your check yet for the bill. And when the guy went and did it, the check was already cashed somewhere else. Okay? Put in a bank account with a different name and blah, blah, blah, blah, blah.

So you gotta really be, if you’re gonna send out checks you gotta, get security checks and all that. But as a business, so wait. Yeah. You’re saying that the customers are mad at the business? Yeah, they they were getting mad because the guy said, where’s my check?

Someone stole it from the business. Someone stole it. And when the people went and checked their bank accounts they saw that it had a different name on the check. They’re not mad at the guy. It’s not his fault. Okay. I thought you were saying like the people are mad at the business. No, they’re upset that happened.

Yeah know. Sure. So the guy now is switched over to ach. He told all his customers we’re not taking paper checks anymore. Is this guy an older business? Yeah, it’s a business that’s been around for 50 years. and you got somebody helping him getting to go into like Web 2.0 cuz I’m sure he is still in web.

We actually just give him a link and they just give the link to the, they just, we just create them like a payment portal and they don’t want to take credit cards. So they just created a portal, click here. The customer goes there, puts in their email address a password, creates an account, it’s all secure, it’s up on the ACH company server, boom.

And then they pay with a check and pay with their check via ach. And it works good. Especially for like different types of companies. I wrote, I wrote down what companies does it work for? Like wholesalers and distributors where they give people, , like a line of cr, not a line of credit, but they give you terms, so they give you terms.

So it’s good for that. It’s not good for, oh, I want to give you pay by ACH and come in and pick up 50 cases of something and you don’t know the customer. That’s a little dangerous. In that case, you need to be taking a credit card. , the guy’s also getting set up with credit card now, but we have law offices using it, CPA firms using ach, bookkeeping services and ar.

We just spoke with a architecture firm and they, and you need to make sure, because a lot of the. These checks, they’re not targeting somebody who’s receiving checks for like a hundred bucks, like back in the day social security checks. , now that goes right into your bank account.

Or it’s on a card and the person already has the card. They’re not mailing them a card. , they already have the card. It just gets funded. But for high value ach, you need to be working with a good ACH company like the one that. We work with a couple, because most of them, the average sale they allow is only $2,500.

Nice. So you need, if you have high ticket, high tickets, then you need to have a high ticket ACH provider. But forgery, check forgery, I couldn’t believe it. I looked up like three news stories, right? , besides the one that I knew about. And here and I’ll tell you a couple of these news stories and we’ll get more into this, but one is in Vermont, somebody’s been breaking into this post office mailboxes outside of the post office.

They attach a weighted object with something sticky, obviously like gum. And then they pull out all the envelopes they can. And then they started what they call kiting, the checks, getting the name off, changing the name, depositing it, getting whatever they can. Another guy just pleaded guilty and Paul Tucket, and he was caught doing the same thing.

They were making they counterfeited checks that they stole from business. and they made it and they made IDs that looked like the actual account holder and set up fake bank accounts and all kinds of stuff, to look like the business. , like they made themself look like a certain business and they were stealing the checks from this business.

A few different businesses. And then another one was somebody was stealing checks out of the depart, the North Carolina Department of Insurance. And it’s like crazy. Like why are they putting these checks, like all in a public mailbox outside their building? We have one out here by the road, right?

They were putting it in that kind of mailbox and then people were stealing the checks outta there, and then cash and the, they would, didn’t get all the money. This guy he cashed like six, that cash like a bunch of checks for thousands of dollars and then withdrew 2 25. You don’t , but it’s crazy what’s going on.

And a lot of businesses don’t realize, like that’s just a disruption. So you know your customer’s gonna be upset, right? Because you don’t have electronic forms of payment. But you can give people, like we have law offices, right? So we set ’em up with a payment portal and then they give the customer two choices, pay with a credit card and we’ll charge you like one and a half or 2%, right?

Uhhuh, , or pay with ach, and then they pick up the fee for the ach. . The business does. Yeah, the business does. Cuz it’s gonna be cost less than accepting credit card payment. Now everything is electronic. so they can start accounting for everything electronically. You don’t have to deal with, can you imagine like one of the biggest comp one, one of the biggest clients we got was in the beginning of the pandemic, we set up a few law offices because they didn’t want people mailing checks to their office.

Cuz who’s gonna process, no one’s gonna be there, right? No one was gonna be there. So we set them up with ACH to actually process like over a million dollars a month. Nice. It’s a nationwide law firm. , their offices were all closed, so they were like, don’t mail us any more checks. Go to the website, make your payment because it’s, it’s more efficient to do that.

Like we have a client and every time I buy something from them, I have to, we have to call them on the phone, give them the credit card over the phone, and then sometimes you don’t get ahold of them, you forget about it, or they forget to send you an invoice. I just was dealing with that. I had a client last from last year.

I, this is a long term client and last year I don’t know what happened. I just totally forgot to invoice her. Yeah. For 2022. Okay. For the hosting and maintenance and whatever. Six months go by and I’m like, man, , I haven’t heard from this person, right? So I go check out the website site’s still gone and I look in my like, man, I never sent it in.

So I ended up sending an invoice, right? And six months, it was six months late, right? So she paid it and then I just sent another invoice with the new software that we’re using. And there’s a few things that we gotta talk about that as well, but, . The one thing that she noticed right away that the invoice was like twice the amount, and , I just had to explain to her like you do remember I sent you that invoice six months late, right? And doing so that I didn’t increase the amount that she was owed. And so now she got an invoice that basically looks like it’s twice the amount right, of what it usually was. But you gotta keep up with invoicing yeah.

You have to send out, send out the invoices and then give them a link that they can click because you don’t want to deal with, now this guy has six customers. They’re unhappy, they’re not mad at him, it’s not his fault. But they’re all unhappy so they have a bad taste in their mouth and they gotta go deal with their bank and go file a police report.

There’s a whole investigation to try to catch the person who is doing that, but also, now the business doesn’t feel like their mail is secure. It said the mailman drops off the mail Friday afternoon and you don’t go get it outta your mailbox. Or they come on Saturday and deliver the mail and then over the weekend while nobody’s around, somebody’s going in there stealing.

steal on the mail, or let’s say you’re a business and you mail out like a bunch of checks every week, right? And you go dump ’em in the mail. What type of business would be doing that? Somebody that’s like paying contractor, independent contractors, or maybe they, maybe that’s just when they pay all their invoices and they don’t want to pay with a credit card and they don’t want to do, they’re an older business and they don’t want to pay, pay with card and they don’t want to do.

They don’t want to do online ach. You guys gotta get over that, right? They the bus, the business is receiving the payments. You gotta retrain your customer to say, Hey, from now on, we need you to do it this way it’s more secure. They’re gonna get their money faster because imagine I have this one, one accounting firm that I deal with, and it’s hysterical.

It’s owned by several people. and one lady there wanted credit card processing in ach, so she has her customers paying through the payment portal, but then the other people who were there don’t use the payment portal. People still mailing checks. So I said to ’em, I go, why are you guys doing that? It’s like silly, right?

It’s silly to do that because now like checks come in the mail. Now how many were you gonna go to the bank? Every single. I, you know what I’m saying? You could take the picture of it and not on a business. Yes, you can. That’s not, if it’s over a certain amount, there’s like a limit.

Okay. I think there’s a limit on, I think we have a li I think my bank has a limit, like 500 bucks No, for business. I don’t know. I had a business bank account. It was way more than that. I don’t know. They just don’t, maybe they don’t. Maybe I think that now that bb and t merged with SunTrust and Truist, like they haven’t put that into the app again.

Ah, the deposit thing. But I remember, it’s still a pain in the neck trying to, you getting mailed 20 checks, you got five 50 checks in your. , what are you supposed to do with those? That’s what I’m saying. So now people taking it out of the envelope, they’re marking it paid in their QuickBooks.

Then they gotta make copies of the checks. Then you gotta go, someone’s gotta go take the checks, put ’em on a deposit slip, stamp the back, go over to the bank. You’re spending a lot of time. doing that when it could all pointless, processed electronically, wasting pointless time. Yeah. And so then, so I was telling you about this accounting office, this one accounting office.

So they have offices in three cities. So though those three cities take all their checks on a Friday, put ’em in a FedEx, the three places, and then they sent it to the main office. , instead of having the people all mailed, I said, why don’t you just have everybody mail the check to the main office or use the ach?

And they’re like, oh, these people like to write checks. There is, there’s definitely an age group of people who still pay with check. There’s definitely, every time someone wants a check for me, I’m like, I always forget how to put it in my printer. . Oh, did I put it incorrectly? And then you gotta print out check.

Yeah. I actually, the. . I can’t even tell you the last time I wrote a check, man. It’s gotta be in the early two thousands. Yeah. I literally I bought I, I have, when did pay, when did you, when were we starting able to pay like our bills with no, seven, eight years ago. That, 10 years ago.

I’d say decade. It started, it started where you could pay bills online. , and then the pandemic like totally increased that cuz places sent out notices do not pay, do not mail in a check, and they started to force people to go online. And now the businesses who aren’t doing that need to start doing that because there’s just this increase in check fraud.

I looked up a half a dozen. That of that just happened within the last 30 days. We’ve covered a lot of fraud on the podcast over the past couple months. Cybersecurity, fraud. Just a lot of different ways of people, getting what this word, getting ripped off.

Getting ripped off. Yeah. And there’s also, and also I will tell you this, there’s identity theft on the rise. Look at one of these cases where these guys were stealing the checks out of the business mailbox. Made fake ID to look like the owner opened up a bank account at a bank, farther away from their office.

Where they wouldn’t know them. And then they were depositing the, depositing real checks in there. That’s just complete identity. Thought. Identity. You mean someone stole my identity. They got over like what, 50 grand in unemployment. Oh yeah. Remember you were telling me about that in California?

Yeah. And that goes on and on. And we get we get internet leads that come into the office, right? . And then they’ll come in and then, we have a little scrubbing technique that we use. So we look at the don’t wanna don’t. So I’m not gonna say what it is, but we have a scrubbing technique.

Yes. And then we we find the actual. And we call it up and ask for the person and these people. Like the other day we called this guy, he got so mad on the phone, right? The secretary, the gatekeeper. He’s oh, I don’t know why all your, these companies are calling me. And I was like you better tell the owner to lock his credit, watch his personal credit, his business Friday, because the next thing that’s gonna happen is you’re gonna get a bunch of letters in the mail from.

bunch of credit card processors who were stupid enough to give that person a merchant account because they had enough information on your business to get the merchant account right. And then you’re gonna, they’re gonna say, oh, you owe us all this money for all these chargebacks. Or leasing for equipment, or whatever it is that the guy got from them.

And then you’re gonna have to go get the cops. And then a lawyer, what’d she say? And the lady’s oh, that’s bs blah, blah, blah. I can tell you like, we’ve had cases where I’ve been contacted by the local police and the f FBI from people that happened to. And they’ve even asked me, the f, fbi, I, the guy from the F B I and that one, the Secret Service was involved in because it was over 50 grand got charged.

but on various merchant accounts, and they fake Some guys it’s really weird too. They always pick these like companies like plumbing company, air conditioning companies, those type of companies, and they’re good size companies too, and they pick the owner. Of, of one of those companies. And of course the credit card processor gets excited.

Ooh, some guy with five location air conditioning repair company, right? , oh, that looks like a great, they’re gonna do hundreds of thousands of dollars, right? And they go, oh, maybe the social, the guy probably used a real social right. , a real social, but they didn’t really look into it so hard and they, the person has fake bank statements, fake merchant statements.

It’s not that easy to spot those, but there’s other telltale signs. Especially when you’ve been doing it for 20 years. Yeah. So doing it, so you know, but that one guy didn’t believe me. And then the next thing you know, I’m getting a call from the fbi. And they’re like, oh, how did you spot it?

Why did you call the guy? And I told them, I says, listen, if we see identity theft, we’re gonna call somebody up. And the same thing. That’s why his check thing is crazy. People washing off the check with chemicals. Yeah. The whole check fraud thing is, and you would, I can’t believe that businesses are still accepting checks.

I, in 2023 coming up, like I would say, . In all honesty, I would say no. Yeah. It’s time to upgrade your system. Banks should stop sending checks out unless they’re like a business, I Personal checks shouldn’t be a thing. Personal. Yeah, it’s weird. It’s weird. But there’s some places can you even go to a grocery store and pay with a check?

Yeah. I was in line at Publix the other day and I was like, that woman had to be over 80. Oh, there was no, there was like a, there was a. It was, I don’t even remember. I would not say she was over 80, but there was a man and a woman. Hello everyone. We’d like to take this time to thank our sponsors Nationwide Payment Systems and NPS Printer.

We’d also like to shout out the listeners and everyone that subscribed to our YouTube channel. Thank you for tuning in. If you’d like to reach Alan or. Head over to B2B vault.info where you’ll find two forms, one to contact us and another if you’re interested in becoming a sponsor. If you’d like to sign up for a merchant account, click the Apply Now button located at the top of the page of B2B vault.info where you’ll answer a few questions and you’ll be on your way to processing payments in no time.

The podcast is available on Spotify, iTunes, Pandora, and other popular streaming networks. Thanks again for listening. And they got out their checkbook and then they have to, they don’t have the check machine there anymore. They used to have a check machine. that’s not there. So they have to go get the manager.

The manager has to come over, check the driver’s license, take the check, go over to the office and go, I guess they must have one piece of equipment over there to verify the check. Meanwhile, like all my stuff is on the belt. I’m like, man, I don’t, businesses should say no, we don’t accept checks anymore.

It’s nuts. You know how that. You know how that’s you know how that’s like going, like even like I went to Costco the other day, right? Something Costco and I think they only take Visa and MasterCard. They don’t take American Express or Discover. Really? Yeah. And I remember there was a time when Costco only took like American Express.

You had to have the Costco American, you had to have a American Express card or the Costco American Express card. , but now they have, they’re aligned with a Citibank, so they have their own like Citibank Visa. But checks. But checks is more people have, more people carry Visa than a MasterCard than carry around an Amex visa.

It’s very difficult to get an American expression. Yeah. And Visa. and Visa is more the most popular of all the three cards. But check, ACH has been on the rise. And then, we’re seeing new film. What does ACH stand for? Automated Clearinghouse Say that louder for the people in the back.

Ach h. Automated house. And then there’s, how does it work? So ach, the way it works is there’s a routing, an account number. The name on the bank, the name on the account, the address, and it goes through the system. And instead of going through Visan MasterCard, it goes through the ACH system, which is from nacha, N A C H A, the National Association of Czech House Association.

Association Authorization, the na, the National Automatic. Clear Check Clearing House Association, but it goes through, that goes through like that. That database goes through those guys? Yeah, it goes through like a database similar to Visa and MasterCard, which verifies, the routing and account number is real and then the money, then it goes out to the Fed, and then the Fed says, Hey, does Justin have this money in the bank account?

But instead of it taking a few seconds, like a credit card, it takes a couple of days because. You could go out and spend all your money, doesn’t matter. And they gotta be able to get the money and yank it outta your account, right? And send it back. So it’s not like an instantaneous thing. But now we’re seeing like rtp, they’re talking about it real time payments, which is gonna be another like level up on ach, right?

Basically you make a payment directly from your. And it goes to that person’s bank. They would send you like a request, right? And then you would send back the money. It’s similar to like how Cash app you send somebody a request for $20. Ding, it goes to them immediately. So real time to peer sharing in my right.

It’s why didn’t, why so why haven’t they started this yet? Because you have this thing called, they made this whole big deal with this thing called Fed Now to be able to move this money. But I don’t think that they figured out like how to do it like in a. So like it’s doesn’t, so it’s good for some businesses, let’s say you’re doing transactions for 50, a hundred, yeah.

200 grand And you’re paying, but you’re doing 50 transactions for a dollar or 20 bucks. Yeah. It’s not efficient cuz it’s sending them one by one. So they have to come up with a way. to where, how that’s going to run through, a system where it’s gonna get batched, run, batch deposit, whatever.

This some, we are gonna send this batch out at. 8:00 PM every night. So they gotta figure, they gotta figure out like how that’s gonna work for it to be a viable product for the smb small, medium business market, which is most of the businesses, right? That’s gonna work. Let’s say Justin owns a lumber yard and I’m buying 80 grand a lumber.

and I tell my bank, oh yeah, send, Justin sends me his information and I send him a real, instead of a wire. , I send you a real time payment. But most of the banks haven’t got on board with it yet. And it’s just gotta and they gotta also, the banks, they’re gonna figure out like how they’re gonna, I guess what’s the difference between that and a debit transaction though?

Debit a lot of times What? Doing a debit card. Damn. I’m just saying what’s the difference of the realtime payment? If I go Christmas and I, and you send, and you give me whatever, an invoice, that’s $800, right? And I’m like, all right, how can I pay this? And then you ring it up and I put my debit.

What’s the difference between that? Because of debit cards going through the Visa MasterCard network, but it’s right instantly. But Devin figured out how to do that with this Fed Now realtime payments. Devin figured out how to do that. I don’t get it. Neither do I. But they’re, what is the difference?

The difference is the debit card’s going through the Visa, MasterCard network, the all right. Realtime payment. Okay. Yeah. It’s a bank to bank transfer, but So what about when you’re using Zelle and you’re in p and c or whatever bank, because that’s a customer is sending the money. They’re not, you’re not requesting.

But yeah, I can request you some money from Zelle. You can send a request. , right? I don’t think so. Yeah, I think you can receive money. I don’t think you can send a request. I can send money and receive money. I can’t send a, I don’t think you can send a request. Let’s find out right now. Okay.

Do. I know you can send a request from like Cash app, but that’s also Cash App to Cash App. send request split. Maybe not all the banks offer that yet. Oh, okay. That’s what I’m saying. So that’s my, that’s what I was saying, like it’s not consistent. All of the apps that I used, you can request.

But I’m saying it’s not consistent across all the banks yet. , of course not. That’s the problem with real time payments. But then you have other products coming out, which is called pay by bank, right? So Pay by bank is another interesting product. So we’ve been meeting with one group. They have a product pay by bank, but their problem is they can deal with a mega market, but they can’t deal with the SMB market.

So we’re trying to figure out how we can get them to integrate into another platform. and then that platform can aggregate the transactions and then we can bring them. So bring that to small businesses. So I’m gonna be able to go to McDonald’s and then click pay by my bank? Yeah. It’s a little clunky of a transaction because you would click a Q, you would scan a QR code, then you’d have to log into, then it would say, where do you bank?

You’d have to click your bank, you’d have to log into your bank, and then you’d have to approve the transaction. . So it’s a little bit People want that, huh? People want to be able to do this. I think that a lot of businesses might want to do it because it’s gonna be cheaper than processing a credit card.

I could see where it’d be the incentive for a larger business, but like a small size. They only guarantee like up to a thousand dollars. But let’s just say you have a barber. , and I’m not going to pay you with my bank account at my barber shop. I’m just saying, I’m sorry I’m just saying it could be those a type of business where, you know, maybe only a few people are paying like that.

It could be on the website. You could pay like that. Let me tell you, with the company, having an option makes sense, but walking into an establishment and then choosing the. paid by bank. Let, sounds ridiculous. Okay, so outside of the us , it’s very popular already inside the US it’s not popular because in the US everybody likes their credit cards and their debit cards because there’s rewards and there’s cash back and there’s points and there’s money off and there’s all kinds of different things, right?

So we’re we like in the United States credit card? Yeah, outside of the us when you talk about how do they pay in Europe, how do people pay Australia’s credit cards is very popular. But then the A, like the Asian countries and South American countries, these, all these wallet payments. These wallet payments are essentially, these wallets are bank to bank payments.

A bank pay by bank payment, right? So they don’t, because they don’t have. Same capability for credit card processing. And also credit is different. And also, credit, the pay by bank thing might start to get more popular because Yeah, we’re having like, okay, give you for instance, so during the pandemic, everybody was getting all those $600 payments to their bank account.

So debit card usage was way up. Tons of pe debit card, like we saw tons of, cuz we could see inside the system. How many people process with a debit card? How many are with a credit card, a rewards card, Amex, a Visa. You can see all this data, right? You get, we can pull a report every month or every week and see oh, here’s the data of what’s going on, right?

But now that the economy is not so good, right? You start to see more people put using credit than debit. And when that happens, like 2008, 2009, What starts to happen, the banks dial back how much money you can put on your credit card. . So let’s say you get a 10,000 limit. We’ll lo they’ll lower it to eight, then they’ll lower it to seven, then they’ll lower it to six, then they’ll lower it to five.

They’ll just keep lowering people’s, the credit limit that they have to charge cuz they don’t want that people to get in trouble. And then, you’ll have, and then also, let’s say someone’s using their debit card and they mess up a couple of times and they fall, they overdraft their bank account.

Then those people don’t get a debit card anymore with a Visa, MasterCard logo. Then they’re limited to just using a pen. And I remember like 2008, 2009, man, we saw. , especially businesses where a lot of young people were going in , their pin debit transactions went sky high. I believe it cuz that’s off the.

Visa Ma, that’s not on the Visa MasterCard network, that’s on the debt pandemic network. And so you see that. So now we might see the same thing happen again cuz everything everything happens. And then will this happen again? And that’s why I said, we might see like pay by bank, like I said, it’s a clunky transaction, right?

So we might see it. It sounds super clunky, but Right. But we might see it happen like more on the internet. It might become popular on the internet with people who don’t want to use credit cards. Yeah. I mean it, signing into your bank with a smartphone is pretty seamless. It’s not like you really need your password anymore.

You just, yeah, your face recognition. But doing all those steps just turns me off. No, I’m not consumer right. But also, you probably like getting your points and your cash. , right? Sure. Okay. Of course. And people, I love those perks, man. Yeah. They love the perks. Oh, buy gas with your credit card, cuz you get 3%, 3 cents off.

Holy shit. No, I’m sorry, . No, you get your 3% kickback, right? Yes. Off gas, if you get $30 worth of gas, you got like a dollar back, you got a whatever, a third of the tank. A third of a gallon of free gas. But no, the perks and the incentives are definitely a reason why everyone in America uses credit card debt, right?

So outside the us. So there’s a big movement, which we’ll do a whole nother podcast about, which is the alternative payment methods. And those alternative payment methods are gonna start I think that they’re gonna start. Creep in and ACH is one of those like alternative payment method from credit card.

And I think more businesses need to embrace, like you don’t want to take credit cards. Don’t take credit cards or say, yeah, we’ll take credit cards, but we’re gonna charge you a fee cuz we don’t want to pay the fee. And then ach, I’ve seen companies where I go to the website, I remember there was like a company I went to pay.

Fairly recently, and they were like, oh, if you paid with the credit card, there was a 3% fee that you wanted to pay with your check. They were charging $5. I was like, man, it’s crazy. But you had to pay the bill and it was the only, what is the best? What they wanted call in? No, that was the, oh, she called in.

It was 10 bucks. That’s what I’m saying. Make the payment. if you called on the phone and they had a whole automated, I called up just to see because I didn’t, I was reading the disclaimer on the website, this is the way businesses can handle it. If you want to take ch, if you want to take checks, take electronic checks set up, we can help you set up a payment portal.

Your customer comes in, they may have it. You can either have it for credit card only, for ACH only, or for both. And if you want to Pass a fee, no brainer. Because maybe that’s what you have to do. Maybe it’s for something like you’re an insurance broker and you need to collect the whole the whole money.

You can’t lose money. So you charge, put a fee on there. If you can’t put a fee, then you don’t put a fee. It just depends on how you want to, how you want to run your business, and I think businesses need to look at, with, it’s crazy. And I think it’s because of high unemployment and other things that are going on that there’s a lot of crime.

Just like I was watching this video of these guys who make these glitter bombs for people that are porch firing. Yes. And like that’s on the rise again, porch firing, and then, so you know now I’m reading a half a dozen stories about people getting checks stolen at a mailbox.

And they’re going outside the post office and stealing the checks out of the mailbox, and they’re going into office buildings and stuff and breaking into the mail room and then looking for checks and stealing the checks. It’s, listen, you know when you have all that time that has taken you to do all that you.

figured out a hustle to make right. Figure out a side hustle to make money do something. I don’t know. Used the chat g p t to write blog articles for people. , I don’t know. We read like that one article. Somebody interviewed the chat G P T podcast, the questions, and then they, their summary at the end wasn’t so great.

And then we also read where Google has a tool now. It wasn’t Google, I found it. You found Google. To find a tool that will you copy, you paste the content that you want to check to see if AI wrote it or not. And I did that with one of the articles and 99.7 8, 99 0.97%. . Fake. Fake. Yeah. And people are running to those companies, right?

Signing up to get this content to put it on their web for the, to get content put on their website. We’re talking Google and Google literally just put out articles saying that they’re gonna penalize you for putting out, that type of content. Cause it’s not beneficial, if you’re not sitting down and.

Anyway. That’s a whole nother podcast. That’s a whole nother podcast. Just don’t do it. Yeah. Use it for simple things. And that’s it. So if you want to take checks, take electronic checks. Get set up with electronic payments at your business. Don’t get involved in this. Like right now, feel really bad for this business owner, right?

Because I don’t because he didn’t listen to you and then he lets your this secretary he’s trying to switch over and I don’t like that, so whatever. No, but I’m talking about the guy who’s got people, this people’s checks got stolen. Oh, I feel sorry for that guy, for sure. Yeah. So I feel bad, but you know what, you gotta.

You gotta think of, you gotta be Smarter than The correct is smarter than the crooks man. Yep. Smarter than the crooks. And we have it where it’s very secure. If you send them to a webpage, the person has to put in their email, create an account, put in all their information, put in their routing number, their account number, then they’re paying their bill.

So it’s secure. But you’re, you’re 60 years old, right? Yeah. 62. He’s 62 year old. You’re a businessman. for all of the people the business owners that are your age who are still fighting technology. Oh yeah. They’re fighting. Say to them, I say, listen, just pay us with a credit card. We don’t want your check , just gimme your credit.

Let me send you a link. Pay with a credit card. Like I don’t understand why you’re going through this whole thing with the, with, we have to pull teeth for you to give us a check. Or pull teeth to pay you. Yeah, like literally the businesses that are like stuck in the stone ages, bro, like it’s time to chisel your way out.

They actually have a jackhammer. You don’t even have to chisel anymore, bro. Like it’s just time to use the technology, let the technology work for you. You’ll be able to live a more stress-free life. You’ll have more time to spend with your wife and your doggles or your kitty cats, or your, you’re gonna make it easier on your staff for chickens, for accounting-wise, because you’ll be able to collect your money faster, increase your cash flow, and even now it’s better for you to take credit cards.

Here we’re reading the Fed, right? For just one up ano another 50 basis points, right? Yep. The Fed. Do you want to, do you want to be the bank for your customers, because that’s what you’re doing when you’re waiting for your payments. Just take card, pay the fee, and it’s a lot cheaper.

The fees on the credit card processing is cheaper. , then the what? The check processing fee? Yeah, the check processing fee and the credit card processing fee is cheaper than the mon the money you can be spending if you have to borrow on your line of credit at the bank to float your business, which is floating your customer.

How does that work when the, if you get a check, you gotta, and you gotta, if it bounces, you gotta pay for that to be sent back to. On ach? No, not ach. I’m talking about oh. You get a, if you get a bounce check, you get a bounce check fee from your bank, and then you send that, then you have to go contact the customer.

Hey, I need a new check. Or, gimme your credit card. What are you guys doing? Yeah, you gotta get into the, you gotta get into the 2023, man. A lot of business is oh, we need the credit card right away. But a lot of businesses have people who have terms. . So what they’re on term say, oh, we want you to pay with a credit card.

Pay us now, we’ll give you, better pricing, whatever it is. Speed up your cash flow. Speed up your cash flow. It’s way cheaper than borrowing against your line of credit. Agreed. And it’s, and less stress, you don’t have to deal with the guy. He’s got six people complaining the. Yeah, to just get out of the way is so much easier.

We’ve had a bunch of businesses in the last couple of years all go to ach. You. They offer cr, they offer first one guy only started with ach, then he added the credit card. He just split the fee. Okay, you want to give us a card, pay the fee, no problem. And that’s it. And then customers are happy. They’re happy, they’re reduced.

They’re, their employees are happy, they reduced overhead, they’re good to go, reduced overhead, and they’re getting paid faster than they were getting paid before. So it became more efficient. So that’s our podcast for today. We could nickname the podcast. Maybe catch me if you can. That could be pretty like to Catch me if you can.

Could be the subtitle. Okay. Look at Alan Getting creative over here, . So everybody, peace out. Have a great year. We’re in 2023 and we’re gonna make 2023. Great. Get set up with a payment portal, Carpe DM