Best Payment Method when collecting pay for loads. ACH, PayPal, etc?

Been getting more offers from Shippers wanting to pay me immediately upon delivery. I'm thinking ACH would be the best route if not cash. How do you handle this yourselves? Checks, PayPal, Venmo, Square etc etc.

 

I have never done anything except ACH, but I don't use the quick pay because they take a percentage.

 

I prefer checks but ach if not. Checks make me feel warm and fuzzy like I’m accomplishing something while ach just is numbers on a screen going up and down.

 

Checks make me nervous because they can put a stop payment on it before I even get to the bank.

 

Well I should clarify.

I didn't realize you meant with types of payments you actually receive. I thought you meant quick pay that you receive. I have a number of Brokers they pay me by check.

Just myself, I would be more concerned about not getting the check if it gets lost in the mail then them stopping payment on the check.

I always want everything to go through ACH but not all Brokers offer that.

But you also have to watch because if they have an ability to deposit through your ACH they also have within their agreement that if you're overpaid they can withdraw money.

So I have an account that's just only for incoming and when money comes in I withdraw it right away and keep a zero balance.

 

Ive never had that happen but I suppose anything is possible. Never had a check bounce either. :knocks on wood:

 

When dealing with a brokerage it's all a little easier. I can check their credit, references and file a claim on their bond if need be but with a Shipper it's not as easy. In this case, the customer is the Receiver they have their own brokerage so I can get an ACH and have the bond to fall back on if all else fails.

However, these guys don't have any credit history and I usually don't work with anyone that doesn't have good credit unless they pay me COD so I'm getting half upon loading and half when I deliver. Cash is always king but this is a 3700 dollar run and they won't be at the Shipper to pay me said cash.

 

I'm so paranoid and untrusting when it comes to these things. The fact that trucking is such a cruddy business full of scumbags just makes it worse!

 

I had that conversation recently…. That C in C.O.D stands for cash!!

I won’t accept a check. Not even a cashiers check.

 

I definitely understand what your saying. It’s tough sometimes. You want to acquire a new customer but there is no history there. Sometimes I just take a chance, but there have been times where I required the first load be paid by PayPal. The fees suck but it’s worth it establishing a new relationship on the first load with a new customer.