Having an issue with a reputable broker

Discussion in 'Ask An Owner Operator' started by gokiddogo, Jul 17, 2018.

  1. gokiddogo

    gokiddogo Road Train Member

    8,786
    14,768
    Mar 5, 2012
    Ontario Canada
    0
    The issue with direct deposit is you have to give them your bank numbers and also if they decide they overpaid you they have the right to withdraw money. So I have a very short list of who gets my numbers. I would rather wait for paper. This is just a very unusual situation for these guys.

    The international issue complicates direct transfer further.
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. ZVar

    ZVar Road Train Member

    10,911
    23,827
    Sep 10, 2010
    Flint, MI
    0
    So? Have an account just for ach deposits. When you get paid, you can have a notification sent to your phone. Log in and transfer all money to your main account. If there is no money to take...
    Of course make sure the bank does not have overdraft turned on for that account.
     
    DSK333 Thanks this.
  4. gokiddogo

    gokiddogo Road Train Member

    8,786
    14,768
    Mar 5, 2012
    Ontario Canada
    0
    Most us brokerages don't even offer direct to a foreign bank. So direct isn't an option. How else do I get 100% of my money if not by cheque?
     
    Ruthless Thanks this.
  5. RedForeman

    RedForeman Momentum Conservationist

    4,875
    22,139
    Jan 30, 2011
    0
    Fair to say most people of the USA have not had the pleasure of discovering how many payment methods either won't work or cost a lot more when dealing across the border. As luck would have it, I have a sometimes needy sister in law that lives in Edmonton. Add to that, currency exchange usually takes another 2-3% out in the form of a transaction fee. The exchange rates you see on line are what the banks pay, not you. @Ruthless points this out with wire fees, but it's on any transaction really.

    Fortunately I've only dealt with two Canadian brokers. Scotlynn paid via their Florida office and made it a US transaction. I can't remember who the other one was, but they were in TO and the mail added a week pushing the collection to around 40 days, but they mailed a check in US funds so no additional cost to me. I'm suing a company and driver from Quebec for a collision claim, and that process makes the payment thing look easy.

    Any more, I just say no to doing business with Canadian companies due to risk. Unfortunately, OP doing that in the other direction has greater consequences with respect to limiting market opportunities.
     
    wore out, Ruthless and gokiddogo Thank this.
  6. Trucking in Tennessee

    Trucking in Tennessee Road Train Member

    3,740
    5,740
    Mar 19, 2018
    Nashville
    0
    Bank of America was doing tranfers to Mexico for next to nothing.
     
    Tug Toy Thanks this.
  7. 6wheeler

    6wheeler Road Train Member

    2,696
    4,774
    Aug 30, 2009
    0
    When I got started in 2010 I received a call from E Capital. After the first year I billed my own and left the factoring company.

    I had to deal with the same trouble as you just describe.

    I signed back up with a better factoring company and get paid everyday.

    I simply cannot afford to pump out fuel, repairs, tolls, living expenses, bills, debt EVERYDAY and wait for the checks to come in 20 to 60 days later. Cash flow is out of balance.

    Fact: Trucking is the ONLY transportation business in the world that does not get paid upon delivery of services or goods.
     
  8. gokiddogo

    gokiddogo Road Train Member

    8,786
    14,768
    Mar 5, 2012
    Ontario Canada
    0
    I am not going to argue about factoring or quick pay here. I stand firmly against it, I have a big enough pool of cash that small blips like these are just that - minor disturbances. I've also got access to huge lines of credit if I ever need them. The bank continues to offer more, and I take it every time. Those all cost less than factoring or quick pay. On top of all that, my personal life is inexpensive, just the way I like it.
     
    jcrack08, spyder7723, wore out and 5 others Thank this.
  9. Mattflat362

    Mattflat362 Road Train Member

    2,696
    5,723
    Feb 18, 2015
    Avon Lake, Ohio
    0
    I am not sure what is going lately. My list grew these past 2 weeks or so. 45 days out and no fast response on the first email and I have to say no more for you.

    If someone is late and they are also to cool to email me back immediately then we are done.

    In the past 2 weeks I have had to google/FMCSA search 2 companies and email them as well as their surety bond holder. That gets a response right away which only further tells me they are dixx and won't get my truck ever again.

    I cuss em out and let em know too! "It is pretty aggravating on Sat morning when my kids are asking me to go swimming and I have to say no because I need 3 hours to track people down for crap I did 6 weeks ago!"

    45 days and no immediate response on a email makes you Adolph Hitler to me...I won't touch you.

    I also leave google reviews and DAT reviews.
     
    wore out and gokiddogo Thank this.
  10. Mattflat362

    Mattflat362 Road Train Member

    2,696
    5,723
    Feb 18, 2015
    Avon Lake, Ohio
    0
    20180719_104355.jpg 20180719_104421.jpg Need more space or smaller writing! 20180719_104355.jpg
     
    RedForeman and gokiddogo Thank this.
  11. gokiddogo

    gokiddogo Road Train Member

    8,786
    14,768
    Mar 5, 2012
    Ontario Canada
    0
    I staple paper to my walls and write on them. Plenty of space. I haven't even made contact with any of those except one time with Coyote, but we couldn't reach a deal, so it's all good.
     
    Mattflat362 Thanks this.
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.