Being Paid on the ComData Card

Direct deposit is so much easier..... We even asked to get our paycheck stubs electronically so they aren't sitting in an office somewhere with our private information.

This other thing sounds super complicated.

 

The one company that had that option already arranged ahead of time our banking routing number, checking and handed us a stack of comcheks that work at any bank or truckstop for the purpose of pulling money from the comdata card.

The satellite would beep with the payroll for that specific trip the moment your 5th wheel banged locked onto it and you sent a loaded call. At that point you knew your taxes, withholding and net pay for the load. Plus any previous unpaid trips by trip number (Write everything down....) you at that point had three options, assign a deposit to checking, assign to cash by comcheck and assign a balance onto the card. Part of that balance usually 50 cents every few words are taken from the card as you handle over the satellite communications as well. From time to time I had a friend on the east coast at home who chatted with me in real time via satellite and internet using the address specific to each other. It would cost me 20 to 30 dollars for a few hours back and forth but qualcomm was really good with that in those days.

Your next message would usually be a deposit to the bank so the wife knew how much she had to use to pay the bills and what to use for food etc. You held some in cash for your savings and your expenses on the road. you were always careful to run the current load like a business to come out of it empty and with savings in the other pocket against future thin weeks.

I carried very little on the comdata card, maybe 50 bucks at most. That way if it should get stolen or lost... poof that's all they are going to be able to score. The motherlode would be protected by both a message and a phone call to the right people regading the stolen or lost card.

 

I got a greendot card. Can reload at most truckstops. Pull money off card. Take to register. Load on greendot card. Wait 15 mins then monwy was on there to pay billa etc.

 

Yes. You can transfer money to a bank account from ComData. I think they charge $1.

 

Do you know what the Routing Number is for a Comdata Card? I can't seem to find it anywhere and I dont have any ComData Checks to get it from.

 

The routing number I refered to is the checking account you own at your home bank when you fill out a form that routes your pay there via direct deposit when you are paid over the satellite. It's a 9 digit number prior to the account number in your checkbook.

I should have been more precise. Sorry for any confusing.

 

I know this is an old comment.
Your company ALREADY HAS THAT CONTROL OVER YOUR MONEY. And most of those horror stories don't tell the whole story. I had my pay split 75/25 with that 25% going on my EFS. When I retired I had over 6K on that card and that last night transferred that money to my bank.

To be honest the largest risk you take on with having money on your fuel card is not your company. It is the financial solvency of the fuel card company. A few years before Comdata bought out another company (I forgot the name) back around 2000 Comdata was broke and in serious financial trouble. They were themselves bought out. To this day the last time I heard anything Comdata was is debt OVER one billion bucks.

 

I recall the comdata trouble. It got interesting.

 

Isn't Comdata owned by Wells Fargo?

 

How much interest was Comdata paying you on that $6,000? A simple savings account, even at today's ridiculously low interest rates would give you at least 1%. That's peanuts, but I'd rather have $6,000 and a handful of peanuts than just $6,000. Plus having it in a bank you have FDIC coverage if the bank becomes insolvent.

It's been a very long time since I looked at the fee schedule for EFS, and even longer for Comdata. The very brief look was enough to convince me that any bank card would be preferable. I've never understood why people like to load their money onto the company's fuel card. I would appreciate if anybody could explain the rational.