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unpaid cheque fee
Hippyer
Posts: 1,230 Forumite
Hello I'm new to this forum but thought it might be a good place to seek advice.
I recently openend a business bank account with HSBC.
I'm new to business and I collected a cheque payment from a customer on 04/06. I deposited it the same day and today I received the cheque back through the post unpaid and the reason for return is "refer to drawer".
Now I intend on sending this cheque back to the customer and asking them to repay. I will also let them know that as this payment is now received late their next invoice will contain a late fee of £10 and if this money is not received by such and such a date the late fee will then increase to £x per day.
I believe that is the best way to go about it, but like I said I'm new to business so any alternative advice is welcome.
The main question I wanted to ask here was about the £4 charge that HSBC have charged me for the privilege of this.
It doesn't seem right that I should be charged a fee for accepting money off a customer that didn't have enough funds to pay.
What do you guys think?
I recently openend a business bank account with HSBC.
I'm new to business and I collected a cheque payment from a customer on 04/06. I deposited it the same day and today I received the cheque back through the post unpaid and the reason for return is "refer to drawer".
Now I intend on sending this cheque back to the customer and asking them to repay. I will also let them know that as this payment is now received late their next invoice will contain a late fee of £10 and if this money is not received by such and such a date the late fee will then increase to £x per day.
I believe that is the best way to go about it, but like I said I'm new to business so any alternative advice is welcome.
The main question I wanted to ask here was about the £4 charge that HSBC have charged me for the privilege of this.
It doesn't seem right that I should be charged a fee for accepting money off a customer that didn't have enough funds to pay.
What do you guys think?
0
Comments
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Do you have any sort of agreement with your customer to charge those fees?
And the £4 encompasses the costs incurred by HSBC in presenting the cheque, having it unpaid, returning it to you, etc. Cheque clearing is not cheap, and this charge would be in your tariff that you agreed to when opening the account.
Also, a cheque marked refer to drawer can still be represented - you don't have to send it back.What would William Shatner do?0 -
Thanks Barclays Manager
I do have late fees detailed in the agreement we signed.
Are you saying that I should contact my customer, tell her the situation and ask if it would be ok to reattempt to cash it?0 -
Thanks Barclays Manager
I do have late fees detailed in the agreement we signed.
Are you saying that I should contact my customer, tell her the situation and ask if it would be ok to reattempt to cash it?
They might offer some explanation or an alternative way to pay, so I'd say it'd be wise to contact them, yes.What would William Shatner do?0
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