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Credit Cards 2022

Started by stavebuyer, May 19, 2022, 07:00:55 PM

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SwampDonkey

I have no service fees for debit, cash dispensing, or cash in my account. My bank is online, not brick and mortar. Well actually it is, but you can't go into a clerk, just ATM's and computer. Other banks around here charge for it all. Why do business with them? :D 
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

2020 Polaris Ranger 570 to forward firewood, Husqvarna 555 XT Pro, Stihl FS560 clearing saw and continuously thinning my ground, on the side. Grow them trees. (((o)))

Magicman

??  How would you deposit a customer's check into your account?
Knothole Sawmill, LLC     '98 Wood-Mizer LT40SuperHydraulic   WM Million BF Club Member   WM Pro Sawyer Network

It's Weird being the Same Age as Old People

Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

Ianab

ATMs can be set up to take deposits, either check or cash. Check goes in an envelope with a deposit slip the machine printed. I assume a worker processes the checks normally back at the main branch. 

But that's history here, banks stopped issuing / accepting checks last year. 

Weekend warrior, Peterson JP test pilot, Dolmar 7900 and Stihl MS310 saws and  the usual collection of power tools :)

Larry

Check deposit.  Take a picture with your phone and beam it off.

I don't see much use for a brick and mortar bank.  Well I suppose they do serve a purpose.  They can count a bucket of change pretty fast and when I need two dollar bills for kids birthdays they usually have them. ;D 
Larry, making useful and beautiful things out of the most environmental friendly material on the planet.

We need to insure our customers understand the importance of our craft.

Ianab

Quote from: Larry on May 28, 2022, 09:27:40 PMI don't see much use for a brick and mortar bank.


Last couple of times I've been into the local bank was to set up, and sort out problems, with a new Internet banking account.  But once they got the ID and phone 2FA sorted (right), I haven't had to go back. To be fair, they had been fined $5 million for not quite following the anti money laundering laws. So they had clamped down on showing ID, crossing the Ts etc, even if I'd had an account there for 50 years. 
Weekend warrior, Peterson JP test pilot, Dolmar 7900 and Stihl MS310 saws and  the usual collection of power tools :)

SwampDonkey

Quote from: Magicman on May 28, 2022, 07:17:48 PM
??  How would you deposit a customer's check into your account?
Two ways, either put it into an ATM or scan and send on your Iphone. I deposit cheques every week. We don't even use envelopes anymore at the machines. You can stack a bunch of cash and a cheque can be in the same stack if you want.

With the old envelop method, there were scammers depositing empty envelops and getting $1000 cash back. The people that never thought it through or cared at the moment. :D

If I want a bank draft, it's sent to their brick and mortar bank to pick up. There is a fee on those for sure. No more than at any other bank though.

Up here, you can get more than the $1000 from a machine, just call in, and they allow it for something like 2 hrs. I've had to get out $8000 before, had no cheque with me. Debit card at point of sale has a cash limit, so just call. No problem at all.
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

2020 Polaris Ranger 570 to forward firewood, Husqvarna 555 XT Pro, Stihl FS560 clearing saw and continuously thinning my ground, on the side. Grow them trees. (((o)))

customsawyer

I guess I'm old school. I like going into the brick and mortar bank. I get to talk to and build a relationship with my banker. Heck some times the tellers are nice to look at too. ;D
Two LT70s, Nyle L200 kiln, 4 head Pinheiro planer, 30" double surface Cantek planer, Lucas dedicated slabber, Slabmizer, and enough rolling stock and chainsaws to keep it all running.
www.thecustomsawyer.com

Al_Smith

I do use credit cards but I don't use ATM 's or debit cards nor self check out .A few years back when Pres. Reagan put a surcharge on their use I dropped them all .After they got off that nonsense I picked them all back up .I never carry a balance .Large transactions like 77 thou I just paid for a piece of land I do through a wire transfer .It took me a life time to get into this financial position .I've lived from week to week in the past so I know full well how that works .New cars ,elaborate vacations etc .do not impress me nor if they did would I ever make time payments . I've seen so many people get caught up in fads ,"keeping up with the Jones's " get themselves behind the 8 ball and never get out of it from excessive credit card usage .--'taint a gonna happen with me . :)

Cedarman

My wife goes through the drive through.  I go inside.  The next time she asks me why I go inside I am going to say the same reason Customsawyer goes inside.
I am in the pink when sawing cedar.

Magicman

I use the 'night deposit' option for all of my sawmill income deposits.  Just quicker and more convenient.

I make a copy of the check with it's deposit slip for my records. 
Knothole Sawmill, LLC     '98 Wood-Mizer LT40SuperHydraulic   WM Million BF Club Member   WM Pro Sawyer Network

It's Weird being the Same Age as Old People

Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

Al_Smith

I keep good records on just about everything .For example I only have one income rental income property and have a separate account where every transaction is recorded .One account is only social security income which I've never touched plus a third which is everything else .One credit card is nothing but e-bay and other on line stuff .It's just what works out best for me .I'm a retired electrician certainly not a CPA .The later mentioned my taxes got so frustrating I had to hire one .I figured it was the lesser evils of getting into a battle with the tax collectors of which I would certainly lose .

customsawyer

Go ahead Cedarman. I get blamed for everything around here too. Just remember it is like a art gallery. Look but doooooon't touch. 
Two LT70s, Nyle L200 kiln, 4 head Pinheiro planer, 30" double surface Cantek planer, Lucas dedicated slabber, Slabmizer, and enough rolling stock and chainsaws to keep it all running.
www.thecustomsawyer.com

kantuckid

Quote from: Magicman on May 28, 2022, 07:17:48 PM
??  How would you deposit a customer's check into your account?
Under $5,000 amount we can deposit a check to our CU via a cell phone pic. Or via drive up or walk in but it's a 3 hour RT :D. Large amounts of cash are more trouble but rare for us as we don't sell many cars now days.
Brick & mortar must matter to somebody cause they seem to keep building new banks! Lots of them! ;D Where would the big shot bankers hang out if no office space?  ::) 
Back when I worked shifts and especially when single, banking was nigh on impossible but was the only way to do many transactions, unlike now. I'd put my checks in the night deposit and yet had no cash on hand and was before CC'a and easy pay other methods. Groceries were also a PITA. I lived way out of town, the stores weren't open all night or Sundays or when I got off and were far from where I was trying to get some shuteye too.  Convenience store grub was all too often my meals. Now, Krogers trucks pickup orders a 50 mile RT to my small rural burg in the library parking lot and dollar stores all over the place.   
Kan=Kansas;tuck=Kentucky;kid=what I'm not

Al_Smith

I've noticed they've put those dollar stories in places they have no competition .

WV Sawmiller

   I heard somewhere that Dollar General was trying to put them so they are either less than 15 miles apart or so that people are no more than 15 miles from one - I forget which it was but either way it is a bunch.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

Magicman

Dollar General is responding to their customer's need.  8)
Knothole Sawmill, LLC     '98 Wood-Mizer LT40SuperHydraulic   WM Million BF Club Member   WM Pro Sawyer Network

It's Weird being the Same Age as Old People

Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

alan gage

The knock I've heard on the dollar stores from local grocery stores is that the dollar stores only carry the most profitable items so they can undercut the grocery store who has to charge more on the same items to make up for the low margin sales. So people tend to buy the high profit items for lower cost at the dollar store and then go to the grocery store for the low margin items. Which is causing quite an issue for some local grocery stores and also issues for customers when the grocery store closes and they no longer have access to all the "other" things the dollar store doesn't carry. 

Around here they're moving into little towns that don't even have a grocery store, which is nice. A few weeks ago, when my cat was ready to kill me in my sleep because I kept forgetting to get more cat food, and had been feeding him dog food for 3 days, it was nice to drive 5 miles to the dollar store in the town of 600 people rather than driving 12 miles to the grocery store in the town with 6000 people. 

Alan
Timberking B-16, a few chainsaws from small to large, and a Bobcat 873 Skidloader.

Al_Smith

Years ago a company called L and K did the same thing with restaurants .Put them in places with no competition . 

gspren

I like that the Dollar General stores are still small so that if I want a loaf of bread and some Tylenol, I don't need to hike a half a mile up and down isles to find them.
Stihl 041, 044 & 261, Kubota 400 RTV, Kubota BX 2670, Ferris Zero turn

SwampDonkey

Quote from: kantuckid on May 29, 2022, 02:30:34 PM

Brick & mortar must matter to somebody cause they seem to keep building new banks! Lots of them! ;D
Been closing them around here and as far as new ones, only moved to new ones and closed up the old. Net gain has been negative. :D
Some towns have lost their banks, none.
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

2020 Polaris Ranger 570 to forward firewood, Husqvarna 555 XT Pro, Stihl FS560 clearing saw and continuously thinning my ground, on the side. Grow them trees. (((o)))

WV Sawmiller

  That's what I love about our free enterprise system. If there is money to be made and someone sees the niche to be filled and recognizes the opportunity and is willing to put in the effort and take the risk they stand a chance of making a lot of money.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

SwampDonkey

J.J Newberry's was a nice small town store back in the day. They had everything and it wasn't poorly made crap. Stedman's was another nice store in small towns around here, you could get some quality goods. Can't imagine how a junk store could out compete. But apparently someone did. Or the family retired and no one to carry on, that happens to.
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

2020 Polaris Ranger 570 to forward firewood, Husqvarna 555 XT Pro, Stihl FS560 clearing saw and continuously thinning my ground, on the side. Grow them trees. (((o)))

WV Sawmiller

  Sounds to me like either the new store had better service, hours, prices or location and people chose them over higher quality and higher price at the first store.

   I don't know kind of items they sold but I make that conscious decision all the time on things like work gloves where I buy cheap, throw aways rather than high priced better made ones because the life expectancy difference between them for me is not worth the difference. 

   Sometimes good is good enough and excellent to superb is not needed or worth the extra cost or time required to make it.  Sorry if that offends the perfectionists reading this but that is life.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

YellowHammer

When the price of everything goes up, then the price of everything matters if you are a business.

As a business, the goal is to increase net profit, and if taking credit cards can help increase sales (they are a big convenience for my customers) and they don't cost me money (I pass the fee to the customer and they know it) then it is win win for our business.  It's a decision all businesses should look at real hard, and realize there is a reason all the biggest retailers in the market uses them.  Could you  ever imagine Wal Mart, Kroger, McDonalds, Lowes, etc not taking credit or debit cards?  They do because than can be a powerful business tool.
YellowHammerisms:

Take steps to save steps.

If it won't roll, its not a log; it's still a tree.  Sawmills cut logs, not trees.

Kiln drying wood: When the cookies are burned, they're burned, and you can't fix them.

Sawing is fun for the first couple million boards.

Be smarter than the sawdust

WV Sawmiller

Robert,

   I bet in many cases those big businesses have also been able to negotiate a better fee with the CC companies than a small business can do. In some cases they simply market their own CCs. Sears, Penny's, Montgomery Ward, Lowes, Gas companies, et. al issue their own cards to increase their sales. I have never asked but I would not be surprised is WalMart issued some too.
Howard Green
WM LT35HDG25(2015) , 2011 4WD F150 Ford Lariat PU, Kawasaki 650 ATV, Stihl 440 Chainsaw, homemade logging arch (w/custom built rear log dolly), JD 750 w/4' wide Bushhog brand FEL

Dad always said "You can shear a sheep a bunch of times but you can only skin him once

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