[Hidden-tech] Direct deposit for entrepreneurs

[Lynne Rudié]

One of my clients pays me by direct deposit. I bill them on the same  
cycle as their payroll and they direct deposit the amount of my  
invoice. This client is a company with whom is have a very long-term  
relationship but originally it was their idea and makes their book- 
keeping simpler, and they don't have to mail the check. If you have an  
anchor client you could talk to them and the bank--it might work. You  
could say that you're not going to be raising your rates in this  
economic climate, but maybe in lieu of that they could help you  
qualify for higher interest at your bank. Let us know...

Lynne


On Feb 27, 2009, at 7:32 AM, Marcia Yudkin wrote:

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>
>
> I see that the idea of offering higher interest rates for people who  
> have direct deposit of their paychecks (or Social Security checks)  
> is spreading locally.
>
> Not having a paycheck, I feel left out of this trend.  And annoyed  
> when I do business at the teller window and the teller tells me I  
> really should be in the higher interest program.
>
> I am wondering if there is some kind of substitute that we business  
> owners can set up that qualifies, where the banks are concerned.   
> For instance, does an electronic transfer of funds from another  
> account quality as a direct deposit?  Or does it have to be a  
> paycheck or government check?  Has anyone walked tried to negotiate  
> an equivalent arrangement without a paycheck or Social Security  
> check at one of these banks?
>
> Thanks for any hints.
>
> Marcia Yudkin
> Goshen
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