Electronic Transfer As Means of Payment for Business- How do you cope with delayed transactions?

[King Belieal]

The world has gone digital and businesses have also followed suit. The increased adoption of electronic bank transfer as payment options for business is something that is almost inevitable.

Sometimes, there is always network issues with electronic money transfers that wood delay the transaction and you can't get alert from your bank.

How do you manage that? Do you let the customer go with the product despite not confirming the payment from your own end?

 

[magnus2022]

Honestly, it is a difficult and quite frustrating especially when you are about to close in a transation. Even today, transfers did not go and i have no option to give my goods to my customers without seeing credit alert. Though, i only give to customers who i know well.

 

[eLdavis]

In such a case I would tell the customer to wait Abit, but if the customer has been debited, and he is able to show me the debit receipt, then I might allow them go.

 

[Fidelia]

In such a case I would tell the customer to wait Abit, but if the customer has been debited, and he is able to show me the debit receipt, then I might allow them go.

That is risky. Some transactions are reversed. And it might turn out you don't get to see the customer again. For me, it is no credit notification, no product. I tell a customer before he or she initiates the transaction.

 

[eLdavis]

That is risky. Some transactions are reversed. And it might turn out you don't get to see the customer again. For me, it is no credit notification, no product. I tell a customer before he or she initiates the transaction.

Yes it's risky but in most cases we can't actually hold them the customer for a long period of time especially when they have showed you their debit alert. The same way you might not want to be told to wait for long after you have showed them your debit alert. Though I won't make or take such a risk with a huge sum of money though.

 

[Fidelia]

Yes it's risky but in most cases we can't actually hold them the customer for a long period of time especially when they have showed you their debit alert. The same way you might not want to be told to wait for long after you have showed them your debit alert. Though I won't make or take such a risk with a huge sum of money though.

Debit alerts is not enough for me. They are apps that can be used to generate debit alerts to defraud people. I use my bank app to check and if the transaction is not reflected, no release of products. Don't ever rely on debit alerts from customers.

 

[eLdavis]

There are actually ways to detect fake bank alerts though, if you are careful enough to look at the details. There are always some inconsistencies or errors.

 

[Fidelia]

There are actually ways to detect fake bank alerts though, if you are careful enough to look at the details. There are always some inconsistencies or errors.

True but in a shop situation where you have to attend to several customers, you might not have the time to scrutinize all those things. The best thing to do is to wait for credit alert before I give you my products.