Non-motoring > Only 3 banking days between Thurs and 3rd May	Miscellaneous
Thread Author: Falkirk Bairn	Replies: 34

Mon 18 Apr 11 09:49   Only 3 banking days between Thurs and 3rd May - Falkirk Bairn

Banks close 21st for Easter, Open 26/27/28th, Close for Royal Wedding/Monday, Open 3rd May. Cheques to pay in - it could take ages to clear (AND GET MONEY DRAWN ON IT) Bills to pay - some services take days to process even although you pay in in cash @ the bank - do not get caught by late charge fees of £12.00 etc. You have been warned! Reply to this message | Report message

Mon 18 Apr 11 11:08   Only 3 banking days between Thurs and 3rd May - Dave_

Also the same with the post - a friend has a birthday on Monday 2nd May so I'll need to post his card by Wednesday 27th (or even Tuesday 26th?) April to ensure it reaches him in time. Reply to this message | Report message

Mon 18 Apr 11 12:27   Only 3 banking days between Thurs and 3rd May - RattleandSmoke

I hadn't realised just how bad it was. I think I will have to charge a surcharge for cheques this week and encourage cash or bank transfers. Reply to this message | Report message

Mon 18 Apr 11 12:37   Only 3 banking days between Thurs and 3rd May - rtj70

Rattle go for cash or bank transfer. A surcharge won't help with cash flow... What you might be better of doing is charging less for bank transfers and cash to encourage people not to use cheques in the first place. What about Pay Pal for those with Pay Pal accounts? Last edited by: rtj70 on Mon 18 Apr 11 at 12:39 Reply to this message | Report message

Mon 18 Apr 11 12:41   Only 3 banking days between Thurs and 3rd May - RattleandSmoke

The problem with Paypal is it still takes a few days to reach the bank account. A bank transfer or cash is very easy (the two areas where I work have probably more cash machines than any where else in outside the city centre, there is about 15 in Chorlton alone). A cheque won't be a problem if its all labour but if I have to buy parts I will need cash or transfer as I can't wait ten days just to get paid. I don't charge anything for any payment but I really really do need a way of discouraging cheques. Reply to this message | Report message

Mon 18 Apr 11 13:03   Only 3 banking days between Thurs and 3rd May - Cliff Pope

>> but I really really do need a way >> of discouraging cheques. >> We find a sign saying "Sorry, we do not take cheques" works quite well. Reply to this message | Report message

Mon 18 Apr 11 14:21   Only 3 banking days between Thurs and 3rd May - Stuartli

But a lot of people will enjoy a bonus as a result of taking the three working days next week as time off and enjoying a total break of 11 days...:-) Reply to this message | Report message

Mon 18 Apr 11 14:59   Only 3 banking days between Thurs and 3rd May - rtj70

Rattle what will you do later this year when cheques are no longer guaranteed? Someone could pay you and then cancel the check. A warning to all really - check guarantee will be no more later this year (is it July at a guess)? Reply to this message | Report message

Mon 18 Apr 11 15:12   Only 3 banking days between Thurs and 3rd May - Dulwich Estate

Just think what it's like for Zero and all us early retireds. We get no benefit at all from Bank Holidays as they're no longer anything special. Every day is a day off. I'm not expecting a lot of sympathy for this post ! Reply to this message | Report message

Mon 18 Apr 11 15:16   Only 3 banking days between Thurs and 3rd May - RattleandSmoke

Same for me really, as I can take a day off when I feel like it anyway bank holidays are just a normal day and more often than not I end up working anyway. Makes me laugh how everybody suddenly wants to go clubbing at times like this. Reply to this message | Report message

Mon 18 Apr 11 15:58   Only 3 banking days between Thurs and 3rd May - Falkirk Bairn

Being retired means we spend most Bank Holidays and Weekends at home - why get crushed at the shops / sea front when you can choose many other days when the shops are quiet and the beach is empty and the weather is more to your liking................retirement is hard work sometimes with all the additional decisions to be made. Reply to this message | Report message

Mon 18 Apr 11 16:02   Only 3 banking days between Thurs and 3rd May - Stuartli

There seem to be fewer hours in the day when retired then when working...:-( I always laugh when people ask what do I find to do... Reply to this message | Report message

Mon 18 Apr 11 17:52   Only 3 banking days between Thurs and 3rd May - Roger.

I have an account with HSBC - no cheque book issued on opening. I have decided I want a cheque book as there are occasions when a kite is useful. There is no way to apply on-line, so I sent a message using their web mail facility and received a quick reply - your cheque book should be with you in 5 working days! Mind you - 10 years in Spain and I think I issued 3 cheques! Reply to this message | Report message

Mon 18 Apr 11 17:52   Only 3 banking days between Thurs and 3rd May - Roger.

I like a siesta - fills an afternoon quite well! Reply to this message | Report message

Mon 18 Apr 11 18:08   Only 3 banking days between Thurs and 3rd May - rtj70

Don't forget the check guarantee scheme ends this year (already said): www.ukpayments.org.uk/media_centre/press_releases/-/page/719/ So even if your debit car still says it's a guarantee card it won't actually mean anything after 30th June. If you accept after that date it cannot be guaranteed, i.e. for most payments it may become useless. Reply to this message | Report message

Mon 18 Apr 11 18:31   Only 3 banking days between Thurs and 3rd May - Zero

>> Just think what it's like for Zero and all us early retireds. We get no >> benefit at all from Bank Holidays as they're no longer anything special. Every day is >> a day off. Its a real PITA, I quite resent all those workers cluttering up the cafes, taking my parking spaces, ruining my quiet dog walks. They should be at work lazy idle SOB's Last edited by: Zero on Mon 18 Apr 11 at 18:32 Reply to this message | Report message

Tue 19 Apr 11 09:40   Only 3 banking days between Thurs and 3rd May - Cliff Pope

>> Just think what it's like for Zero and all us early retireds. We get no >> benefit at all from Bank Holidays as they're no longer anything special. Every day is >> a day off. >> It's like part time people who don't normally work Mondays - they get another day (or strictly, part day) off instead. All your lost bank holidays will be added up, and your life in the care home will be extended by 10 days :) Reply to this message | Report message

Mon 18 Apr 11 18:23   Only 3 banking days between Thurs and 3rd May - L'escargot

>> I hadn't realised just how bad it was. I think I will have to charge >> a surcharge for cheques this week and encourage cash or bank transfers. >> What you need to do is stop running your business hand to mouth. Reply to this message | Report message       1

Mon 18 Apr 11 18:33   Only 3 banking days between Thurs and 3rd May - rtj70

Running a business so you need the cheque money now means you still have no cash to smooth over the normal cash flow process. A surcharge won't help with cash flow. Keeping some money in the business account would (or a low cost or free overdraft). But I suspect from what you have said you'd raid that to buy something that has nothing to do with the business. Reply to this message | Report message

Mon 18 Apr 11 19:58   Only 3 banking days between Thurs and 3rd May - mikeyb

Rattle = you need to improve the cash position of your business - you cant expect to be taken seriously by your customers when a few bank holidays cause you a cash flow problem. I guess that the parts we are talking about are 10's and sometimes 100's - not 1000's Reply to this message | Report message

Mon 18 Apr 11 20:04   Only 3 banking days between Thurs and 3rd May - RattleandSmoke

Cash flow situation is a lot better than it has been, April is always by far my quietest month though on top of that my car is costing me an extra £200 this month due to the service and tax. I have no idea how much I will earn one week from the next so it can be very hard balance things. I used have about £500-£1000 spare for cash flow but all the problems with my Corsa ate all that up :(. I am hoping in May to get things straight once and for all. Last edited by: RattleandSmoke on Mon 18 Apr 11 at 20:04 Reply to this message | Report message

Mon 18 Apr 11 20:06   Only 3 banking days between Thurs and 3rd May - mikeyb

Perhaps you should take a fixed salary from your business - would help your own personal budgeting out and should enable you to build up some capital in the business during the god time Reply to this message | Report message

Mon 18 Apr 11 20:10   Only 3 banking days between Thurs and 3rd May - John H

>> I am hoping in May to get things straight once and for all. >> Famous last words. This forum will die then as there will be no more mega threads telling you how to run your business. ;-) Last edited by: John H on Mon 18 Apr 11 at 20:10 Reply to this message | Report message       1

Tue 19 Apr 11 09:24   Only 3 banking days between Thurs and 3rd May - Clk Sec

>> there will be no more mega threads telling you >> how to run your business. ;-) ...Particularly from the folk who have never run one themselves. :-) Reply to this message | Report message

Mon 18 Apr 11 20:09   Only 3 banking days between Thurs and 3rd May - Falkirk Bairn

>> Rattle = you need to improve the cash position of your business A friend ran his own business for nearly 35 years - he built 3-6 houses per year -all one offs for private buyers - for years he employed 3-10 people sometimes 7 x days per week. He made no real money - bid to the bone to win the order - he should have charged more and built fewer home - better build 3 x homes and making £60K profit than building 6 x homes and making £30,000. Rattle needs to up the rates and do the same or a few less jobs but have cash in his bank. Reply to this message | Report message

Mon 18 Apr 11 20:13   Only 3 banking days between Thurs and 3rd May - RattleandSmoke

Already started that process of upping my prices. It is a bit hard with regular customers but trying to get new customers. It isn't as easy as upping rates when everybody single shop in certain areas does PC repairs init even if they just reinstall your OS for £30. The market is very saturated simply because barriers to entry are too easy. Had the busiest March ever but used some of that money to invest in software which will automate a lot of things I do. Reply to this message | Report message

Mon 18 Apr 11 20:49   Only 3 banking days between Thurs and 3rd May - rtj70

Rattle we seem to never get the message across. You need to make more profit per job. You also need to build up a bit of a cash reserve that is not touched. In fact building the business without the cash flow sorted will never happen. If you rely on cheques (which will not be guaranteed from 1st July 2011 onwards) then if you had quite a few jobs needing parts you are stuffed. I know you're competing with others and lots will just take the easy/expensive route and go to PC World.... so you need to offer a different service and get that across. If you are just competing with those fixing (and often just re-installing OS) then do something else. You could (as we have said) get work contracting in the NW doing a role you are skilled for and make much more money. But you'll ignore the advice. Reply to this message | Report message

Mon 18 Apr 11 23:51   Only 3 banking days between Thurs and 3rd May - smokie

"But you'll ignore the advice." And you'll keep giving it. It's a bit like a cracked record in here sometimes, it felt to me like we had a whole month devoted to the respective states of Rat's business and health recently, any chance we can avoid another one quite so soon after the last? Not aimed at anyone in particular, but I'm sure Rats can continue to soldier on using the sound advice he's already heard once or twice before. Reply to this message | Report message

Mon 18 Apr 11 23:56   Only 3 banking days between Thurs and 3rd May - RattleandSmoke

My comment has been taken out of proportion. I did take a lot of advice on from the last thread, and I have raised my prices. I have had the best month ever last month. I can afford to buy parts and take cheques for the next week or so but if the cheques take nearly two weeks to clear which they will if I have a quiet week next which it might start to cause a bit of inconvenience but nothing I can't handle. The situation a couple of months back was dire because of so many reasons, things which were beyond my control which are not sorted. I have also invested a lot into the business since the last thread. It may seem like I don't take advice but I really really do. It was just a comment and I didn't really want a repeat of the last thread either but I did gain a lot from the last thread and I am convinced it has made my business stronger. Reply to this message | Report message

Tue 19 Apr 11 00:09   Only 3 banking days between Thurs and 3rd May - rtj70

Sorry Smokie. You're right we have told Ian time and again... Cash flow is important. For everyone though I assume you know guaranteed cheques are ending? >> I can afford to buy parts and take cheques for the next week or so but if the cheques take nearly two weeks Cash flow ;-) And cheques will be bits of promise soon. Last edited by: rtj70 on Tue 19 Apr 11 at 00:11 Reply to this message | Report message

Tue 19 Apr 11 00:15   Only 3 banking days between Thurs and 3rd May - RattleandSmoke

I never ever ask to see a card anyway, out of the hundreds of cheques I have received none of bounced. I know where they live you see :). Reply to this message | Report message

Tue 19 Apr 11 00:28   Only 3 banking days between Thurs and 3rd May - rtj70

No more comment from me. If I was in the position you are I might behave different. IF cheques are not that important to you then you don't need to worry on cash flow. Let's stop discussing this. Rattle you do know seeing a card was always irrelevant? Writing the number on the cheque was what that mattered. Reply to this message | Report message

Tue 19 Apr 11 00:33   Only 3 banking days between Thurs and 3rd May - RattleandSmoke

Yep indeed but I've never had one bounce so its never been a major concern. It is just a bit tricky being in somebody's house and asking for a cheque guarantee. It is a very different environment to say a shop. Reply to this message | Report message

Tue 19 Apr 11 00:39   Only 3 banking days between Thurs and 3rd May - rtj70

Come end June it's irrelevant. Reply to this message | Report message

Tue 19 Apr 11 12:12   Only 3 banking days between Thurs and 3rd May - Ted

My Leeds Albion cheque only account has just written to say my guarantee card will no longer be of any use. Guaranteed cheques up to £250 but I've never used it at all. Any cheques on this account are sent by post. No great loss to me. Ted Reply to this message | Report message