Web Hosting Talk : Web Hosting Main Forums : Running a Web Hosting Business : All Aussies..

[edude]

Hi,

Any fellow Australians here who use instabill or revecom? i used instabill and recieved the check, but my bank says it takes 28 days to clear? why so long? does revecom use the same process?

Also my bank is Commonwealth bank.

Kindest Regards,
HostEXP

[zbco]

Clearance of cheques is dependent on the bank (CBA or NAB). The cheque is sent back to the USA for clearance and the money is converted back minus any fees.

Malaysia..... around 1 month to clear the cheques and fees are dependent on which bank you bank with.

[edude]

Hmm thats horrible, i have recieved many checks from the U.S from other companies which clear in 3 days!

[zbco]

If the cheque is a demand draft paid in Aussie dollars (not USD) then it is treated as a normal Aussie cheque..... 3 days. I was a student in QLD, AU and my dad had to buy a damand draft/bank draft in AUD. Banked it in at the National like a normal cheque.

[edude]

Yes i know, but when the check is in USD its a different case so is there anyway the bank can speed up the process.

Originally posted by zbco
If the cheque is a demand draft paid in Aussie dollars (not USD) then it is treated as a normal Aussie cheque..... 3 days. I was a student in QLD, AU and my dad had to buy a damand draft/bank draft in AUD. Banked it in at the National like a normal cheque.

[eva2000]

same here i regularly receive cheques from advertisers and for NAB once it's over AUD$1000/ per deposit it goes on hold for 40 days

with CBA i have to wait 30 days

unless the cheque is endorsed by an Aussie bank which has special arrangements with revecom's cheque issuing bank, you'll have to wait at least 5 weeks to receive the cheque

imagine that when i already wait 30 - 90 days after i earnt advertising revenues

some branches will cover for you and pay you earlier if you are in good standing - that's what NAB customer service rep said, and they said my accounts didn't look good enough but they just approved my 2nd credit card's increase limit

[edude]

In that case its worth it to pay for wire transfer

Originally posted by eva2000
same here i regularly receive cheques from advertisers and for NAB once it's over AUD$1000/ per deposit it goes on hold for 40 days

with CBA i have to wait 30 days

unless the cheque is endorsed by an Aussie bank which has special arrangements with revecom's cheque issuing bank, you'll have to wait at least 5 weeks to receive the cheque

imagine that when i already wait 30 - 90 days after i earnt advertising revenues

some branches will cover for you and pay you earlier if you are in good standing - that's what NAB customer service rep said, and they said my accounts didn't look good enough but they just approved my 2nd credit card's increase limit

[Lawrence]

We're with NAB, and our USD cheques take 30 days to clear, but the money is actually deposited into our account within 4 days. If the cheque fails to clear, the amount is withdrawn again, but that is yet to occur.

[zbco]

If they credit it into your account within 4 days.... meaning you are earning whatever daily interest applicable even before the money is cleared.

I know NAB allowed us International students to withdraw some of the money to cover rent and stuff eventhough we just banked in the cheque.

[AussieHosts]

Originally posted by Hostexp
Hi,

Any fellow Australians here who use instabill or revecom?

We're yet to receive a Revecom cheque, having only signed one site up with them recently. But with the Bendigo Bank, cheques from other processors (Globill) do take 28 days to clear. But as others have posted, once you get to a certain stage with your bank, they should start clearing your cheques immediately upon deposit.

We have a better processing service here than what I've ever been able to find offshore though. PlanetPOS (www.planetpos.com.au). AU$80 setup, then 6% is simply added to your sell price. i.e. not deducted from your prices. AU$10 to direct transfer to your account, or you can receive payment by cheque. No monthly fees *at all*. You're basically up and running within minutes, and accepting payment.

I wont bother going into my speil on their service and support. Suffice to say, these guys offer the very best in support that you coud hope for. They are constantly evolving their product to suit the needs of the client.
<< Mod edit : please refrain from advertising on the boards - kunal >>

Gary

[eva2000]

Originally posted by Editor


We're yet to receive a Revecom cheque, having only signed one site up with them recently. But with the Bendigo Bank, cheques from other processors (Globill) do take 28 days to clear. But as others have posted, once you get to a certain stage with your bank, they should start clearing your cheques immediately upon deposit.

We have a better processing service here than what I've ever been able to find offshore though. PlanetPOS (www.planetpos.com.au). AU$80 setup, then 6% is simply added to your sell price. i.e. not deducted from your prices. AU$10 to direct transfer to your account, or you can receive payment by cheque. No monthly fees *at all*. You're basically up and running within minutes, and accepting payment.

I wont bother going into my speil on their service and support. Suffice to say, these guys offer the very best in support that you coud hope for. They are constantly evolving their product to suit the needs of the client.

<< Mod edit : post edited. - kunal >>

Gary

interesting i missed this last post

[AussieHosts]

Yeah, I had missed the mod edit. This is getting beyond the joke now.

Gary