ComData Cards ?

ComData works well if you are leased to a carrier, have several drivers working for you, or need a fuel card. I never had ComData with my trucks, used Voyager for fuel and issued a Visa Debit card tied to a bank account to my drivers for on the road purchases and emergencies. Personally, with my regular accounts I set them up to pay me via ACH credit, instant availability and really simple. Only caution with ACH, if they deposit into your account they can also reverse the transaction and withdraw up to the same amount, so I had a separate receiving account that I moved the money out of daily, just in case.

Unless you need the cash flow advantage of immediate access to the payments you are currently receiving via ComChek it is not worth the monthly and per transaction fees they will charge for using the card. Now, if you do need the expedited availability of funds then it may be worth it, however I strongly caution against getting into the habit of expedited funding, it gets expensive to give up a portion of your revenue just to manage cash flow.

If your bank allows you to deposit ComChecks thru a mobile banking app on your phone then you usually can have next day access to the funds anyway, at least that is how my bank, PNC, handles my business deposits. A word of caution, if the deposit is returned they will deduct the funds, so it is not a good idea to count on these mobile deposits until the draft has actually cleared the bank, otherwise you may find yourself overdrawn with no funds available for fuel or food.

 

I use my t-chek/comdata card often. For fuel purchases, there is no fee. There is no fee if you link a checking account to the card to transfer money too. There is a fee for taking cash out. When I need to take cash out I find a no fee ATM this way I am not getting hit with fees on both ends. The fees are tax deductible

 

DId you chek the $$ on the receive and on the statement???

 

Yes. it's $1.25