March 10, 2009
Is it okay to accept only business checks from other businesses?
Can you answer Infinity Challenge's question about Checks?:
I plan to start my own business and my customers will mainly be small businesses.
Filed under More Checks Answers by admin
Comments on Is it okay to accept only business checks from other businesses? »
it is ok for you to set your own policy….it is your business and you have the right to not take checks from regular customers. if you have a store front, i would post a notice either on the door [small sign] and near the register or check out area.
As a small business owner myself, I've wrestled with this issue for years. Oddly enough, I was STILL getting a fair share of bounced checks!
You have the right to set whatever policies you choose, if you start seeing patterns emerging where you're losing money, you also have the right to switch gears and change your policy (with 30 days notice typically).
Just make sure the check has been cleared by your bank before releasing goods.
Another way is accept debit card its faster and no hassle.