Broker to carrier payments

[smr500]

When setting up with a broker what is the preferred way to recieve payment? For instance, RAT has comcheck and ACH. Their ACH is sent as a direct deposit so my bank will not charge any fees. Does anyone use this method or just stick with the comcheck? I would think the ACH would be easier. Or does it take them longer to send out payment through ACH rather than comcheck?

[h2oskibumz]

I think it depends on what you are looking for... A lot of times you want the quick cash and are willing to pay for the privelage (comcheck).

Its just a tradeoff between how much it costs and whether or not you NEED the cashflow or can afford to wait...

We used to let RAT pay us via check... but when they switched to no fee comchecks, we went to that.

United Road charges something like 5% for comcheck, 2% for 3 day pay, and nothing for 30 day pay. We are set up on 3 day with them because 5% is too much, but 2% isn't an exhorbanant fee, and I don't trust some of the larger companies to not "lose" your paperwork over 30 days!!

We don't do terms for individual dealers anymore at all and brokers w/ less than 95% feedback are either COD or we pass on the car.

[smr500]

Ok, I figured their comcheck had a fee. The truck stops also charge to cash it, correct? I have never used one before. Do you or anyone know how long it takes to recieve an ACH deposit? Thanks for the reply.

[h2oskibumz]

Yes, truck stops charge a fee. I dposit them in my bank like a regular check. No fee and my wife can deposit them at home w/ the number...


ACH should be instant deposit. United Road pays via ACH and it takes 2-3 days from the time we bill, but that i for their processing time. Once theyactually send it, it is in my account right away.

[ccoop769]

I do ACH, they are both free. Comchecks are a pain in the but. They both come in at same time!!!

[Buster]

RAT is a good company to deal with. I get the ACH just because its easy. With com-check you can buy "checks" from them directly for .50c each. I buy them 50 at a time. When You get paid by com-check, you can call for the authorization # yourself and deposit it just like any other check.

[Tosch88]

We do the Comchecks that way we no when the payment comes in & can enter it into or quick books system. That's the way the wife likes to do it anyway.

[ccoop769]

We do the Comchecks that way we no when the payment comes in & can enter it into or quick books system. That's the way the wife likes to do it anyway.

Doin ACH is the same delivery method minus the bank part. You will get either fax or email stating its being deposited the same normal time you would get your comcheck thru. Might wanna have the wife check it out. ya never know. mine was pickey at first too, but loves it now. We really hate comchecks. So does our bank with all the comchecks we used to do on a weekly basis.

[Tosch88]

Ya, I don't like the waiting for them to verify shit at the bank. But if wife wants to waste her time whatever I guess. She may not have a choice this summer if her, the kid & I go for a month or 2 road trip.

[haulin rv]

Buy checks? I just ask for them at truck stops and get them for free. And no I don't cash them at truck stops, I deposit them in my credit union (they love it when I come in with them).

[smr500]

Thanks guys. Does Rat issue the ACH same day like the comcheck?

[Buster]

Yes They do.

[2stick]

It would be awesome if all the brokers would do this ,Rat has it down pat.

[Buster]

There ort'a be a law!!

[h2oskibumz]

It would be awesome if all the brokers would do this ,Rat has it down pat.

Yeah but they are no longer on our favorite list...

They have been posting far too much stuff at rediculous low rates of late. I for one am betting they haven't LOWERED what they charge the dealers a cent, and that they are just skimming even more off the top and pass on even less TTT...

Haven't even LOOKED at their board in about 3 months...

[h2oskibumz]

OK. Ready is back on my Favorites list.

We moved a single from Lexington to STL Wed/Thurs. We billed them at 3:48 and had a comcheck number THIRTEEN MINUTES later.

I'm not sure the ink was even dry on the faxed invoice we sent!

[cosgo]

Last week they did the same with me. Very impressed

[ccoop769]

Just booked a car with them now for a shorthaul. Got a new record for lowest amount price negt. That amount was $11 more!!! I tried $36 more but came back with $11. U know we are both laughing like crazy right now.... Just had to share. Thought that was funny, just as funny as child development in a auto forum!!!! LOL

[SHO-TYME]

RAT and United Road ACH.
McNutt, comcheck.

Either is fine for me, If I call someone and they say 30 payment, I tell them to keep the car, every 30 day payment I've had ends up being 45 days after you call them because they forgot.