Surfers that pay with a check, knowing they are NSF... - Page 2 - GoFuckYourself.com

newbreed · 10-06-2004, 07:49 PM

Quote:

Originally posted by corvett
As far as whether you should accept checks or not:

Let me say that online checks do add to the bottom line as a healthy supplement to your credit card income?as an additional payment option or to be offered on a cc decline.

I recall KK mentioning some of this years ago? If a surfer has a credit card, they most likely have a checking account to pay the monthly credit card bill. In addition while a credit card may not be enormously necessary to survive, it is difficult to pay normal bills (rent, elec.,ISP/broadband, etc) without a checking account.

You access 2 additional markets; someplace to send a surfer when his cc declines and you have a viable payment option for the people that do not have access to a credit card.

Moreover, it is general industry knowledge that online check transactions normally recur for a longer period than credit card transactions...

Once again, Corvett owns the stage...

ArikaAmes · 10-06-2004, 08:06 PM

51 assholes with insufficient funds

whatif_3 · 10-07-2004, 09:45 AM

we quit accepting online checks about a year ago due the massive check returns,never considered offering them when the credit card attem,pts have been exhausted

wtsben, what is the check return rate if the surfer only sees it on a credit card decline, not as a seperate option on the payments page? do you have those stats? it has to be lower than offering that as an additional option, as the fraudsters do not see it right away and might not know it is gthere

GotGauge · 10-07-2004, 10:31 AM

For the year we are at 21% returned checks....

Ben.Z · 10-07-2004, 11:28 AM

Quote:

Originally posted by whatif_3

wtsben, what is the check return rate if the surfer only sees it on a credit card decline, not as a seperate option on the payments page? do you have those stats? it has to be lower than offering that as an additional option, as the fraudsters do not see it right away and might not know it is gthere

whatif_3, i don't think there's that much difference....

Quote:

Originally posted by GotGauge
For the year we are at 21% returned checks....

Good to hear!

Our average rate (including recurring) is at about 80%

whatif_3 · 10-07-2004, 12:32 PM

Quote:

Originally posted by WTS - Ben
whatif_3, i don't think there's that much difference....

thansk for answering

hmm, i would think that most people that give bad information would look for easy sites to take advantage of, not try to attept legitimate cc transactions, then try to defraud when the cc declines send them to an online check page

one last question, what is your normal decline rate for check transactions, both by unique and raw? i can have a tiny chargeback rate if my processor is scrubbing 80% of my transactions, this is important to know

10-07-2004, 10:31 AM	#54
GotGauge Confirmed User Join Date: Nov 2001 Location: USA Posts: 3,072	For the year we are at 21% returned checks.... __________________ ICQ 22264474 [email protected]

10-06-2004, 08:06 PM	#52
ArikaAmes Confirmed User Join Date: Jan 2004 Posts: 3,081	51 assholes with insufficient funds

10-07-2004, 09:45 AM	#53
whatif_3 Registered User Join Date: Jul 2004 Location: Canada Posts: 459	we quit accepting online checks about a year ago due the massive check returns,never considered offering them when the credit card attem,pts have been exhausted wtsben, what is the check return rate if the surfer only sees it on a credit card decline, not as a seperate option on the payments page? do you have those stats? it has to be lower than offering that as an additional option, as the fraudsters do not see it right away and might not know it is gthere