@nickabouzeid@ryanstu89 Bill.com does ACH only and for those vendors that don't have ACH info or don't provide it sends our paper Checks for $1.49/each. With Checkbook.io there is no need for paper Checks since Digital Checks cover both ACH as well non-ACH Payees. Additionally, the issue we have solved is recipient onboarding of new payment systems - to get paid through PayPal, you have to signup to PayPal. Same goes for Venmo and the same for Bill.com's ACH payment network. That's not true with Checkbook - the recipient does not need to signup at Checkbook to get paid. No signups & No app to download.
@nickabouzeid@rossdcurrie Depends on the use case. If you are trying to pay someone you need their bank info to setup ACH. You may not have that info - they may not be willing to share it. Or, you simply have too many people you need to pay which makes it inefficient/costly to acquire that information for each customer. If you have the capability to do ACH thru your bank free of charge - go for it. If you don't have the bank facility, or don't have the ACH info for the Payee, use us.
@sidsriramoju That sounds like a horribly broken system (US Banking I mean, not Checkbook).
Here, a bank-to-bank transaction is essentially free, covered under your monthly allotment of electronic transactions (typically unlimited for a $10/mo business bank account, or free if you maintain a balance).
For employees, a BSB (branch) and account number are provided at time of employment. For other payees (ie, other businesses), the details are provided on the invoice. For reoccurring payments you just save the payee's details, and can even schedule the payments in on a regular basis. Electronic funds transfer typically takes < 24h to complete.
It blows my mind that the US banking system is so far behind a country like Australia, but at the same time kudos for doing your part to modernise it, I guess!
@nivo0o0 Yep! Digital Checks are great because you always lose your Checkbook right when you need it the most. We have 3 Free Checks every month for individuals so it's free for the casual user. Signup and drop some feedback! you can send a few sample Checks without signing up here: test.checkbook.io
@nivo0o0 Yeah, I haven't used cheques since the 90s. I was asked by an American business to pay by cheque recently and couldn't believe that they still used them. When I asked for their account number so I could do an eletronic funds transfer, they acted like I was trying to steal from them.
The only people that still use cheques here are the same people that refuse to use ATMs because they don't like talking to machines
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@nivo0o0@sidsriramoju Three free a month for the casual user is the best idea ever....That is about how much I will use this app...MAYBE once a month....So clutch, thanks for offering this service!!!
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@nivo0o0@rossdcurrie Do you believe at some point this will become obsolete entirely ... 10 more years?? Nevertheless, handy in the meanwhile.
@nivo0o0@rossdcurrie@thegaryma Checkbook will get obsolete in 10yrs in the same way Twilio getting obsolete with SMS or many other services trying to find a product-market fit in legacy businesses.
If Checkbook moves all these check senders/receivers to its digital platform - the concept of "check" will disappear and open up so many new possibilities.
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Can you do this in reverse? In other words, request payment via Checkbook.io from the user interface (and not through the API).
@webjoe Yes! you can request a Check via our website by sending an invoice to someone. They can pay that invoice with a Digital Check, and even set up recurring/auto-pay schedules.
Hi PH 👋 PJ here from Checkbook, thanks @Naval for hunting us!
Believe it or not, people are still using paper checks in 2017. We created an online interface so that you never have to do this. Simply fill out the name and amount, add the person’s email address, and they’ll get a check they can deposit instantly right through email (no more going to the bank to cash it).
We’ll be here to answer questions throughout the day. Looking forward to hearing your feedback!
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This was my dream when I built Paynote.io. After I shut down Paynote, I found Deluxe by eVerify and it filled most of my needs, especially for payroll. How does this compare to eVerify?
@itsthisjustin We're way different from Deluxe. Their system sends a pdf image of the Check but does not allow the recipient to deposit the check online (which is our biggest value added). Our "Deposit Online" solution achieves end-to-end tracking for funds and online completion. If the recipient has to print the check out or send it to a deposit lockbox it's still the old fashioned paper solution. Not having the recipient to sign up for a new service and giving them an option to deposit online is the key here. Additionally we have a great RESTful API. We don't see an API with Deluxe Checks, nor do we see the ability to upload a CSV file with multiple Checks in it to send them all out together with one click.
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@sidsriramoju Awesome stuff! I will definitely give it a try. Love to see solutions like this that combine the old with the new.
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Quick question, I notice that the recipient needs to go through some steps to receive payment. Can you discuss a use case of a startup sending a payment to say a government agency, such as the IRS? Also, can you attach any remittance information with payments?
@mespi Mark - great question - since we have some government agencies using us already and planning to go after more: If its a business that is receiving the Check, they need to input their TAX-ID and enter their bank account routing and account number if they choose the Manual Bank Verification in Deposit Online option. Since a lot of government agencies don't have the person checking the email with access to the agency's bank account number or login we offer the "Print" option where the receiving business can simply print the Check. Over time we are hoping that the government agencies that print Checks will switch to Deposit Online, but the key is to give the recipient all the options and not to force them to signup or download any app to receive the Check i.e. make the process as seamless and no different from receiving paper Checks as they are used to
PS: We do have a "catch-all" option where we actually mail a paper Check for those Checks that have not been "accepted" by the recipient i.e. the recipient didn't get the email or chose not to open the email. So far this has been a minuscule percentage.
@abhkes_krishna Krishna, excellent question! We support all banking institutions in the US currently on Checkbook including the smaller credit unions to send/receive Checks.
As of today, we're only compatible with banks in the United States, but soon, we will expand to include service in Canada later this year as well.
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