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Author Topic: Online payments Frank Cox Film God Posts: 2234 From: Melville Saskatchewan Canada Registered: Apr 2011 posted 06-16-2012 02:05 AM                        I sent a cheque to one of the film companies on May 22, and another (smaller) one on May 23 when they decided that they wanted 1% more than they had said they wanted on the previous day. I got an email Tuesday of this week asking why I hadn't paid that bill. Upon following this up, I was advised that they had not received either of the cheques that I had mailed them. It's three weeks later, and neither of those cheques have arrived? I could see one going missing, maybe, but two separate cheques mailed on consecutive days, both gone? I was reminded of Goldfinger: "Once is happenstance. Twice is coincidence. The third time it's enemy action." I have only had this sort of thing happen once before, several years ago and with another film company: A cheque I mailed to them disappeared and has never been seen again to this day. In that case I just mailed them another cheque and that was that. I really dislike having this sort of thing happen, largely because I don't want people to think I'm not paying my bills. I can tell someone that I mailed them a cheque on such-and-such a date, but how do you prove that? Just trust me? That probably works to a certain degree with people that I've been dealing with for years, but I still don't like it and I don't want to get into this situation again. After a number of back-and-forth emails I decided that I would sign up to make online payments from my bank account, and then make an online payment to them that would cover the amount due and I told them to just shred those cheques if they ever did show up. At least, that was the plan. Since I keep my business account at the local Credit Union, I went there on Thursday morning to sign up for online payments. Little did I know that this process is not as simple as I thought it should be. Due to anti-money laundering regulations, it was going to take two days to get authorized and able to make online payments. Humph. I got the ball rolling on that and emailed the film company to advise them that I would send them the money through the online system as soon as I have the ability to do so. Lo and behold, on Friday morning when I checked my email I had a message from the film company stating that both of my cheques had finally arrived at their office that morning. Ghawd knows where they were for the past three weeks. Anyway, that situation is now sorted out and I won't have to send them their money via this new online setup. However, I now have the ability to do online payments so it is my current intention to start paying everyone that I can via online payment instead of mailing them a cheque. They are supposed to get their money faster, which should make them happy. The service charge for making an online payment appears to be the same as what they charge me to write a cheque, so I get to save the cost of a stamp and an envelope. This long story leads up to my question: Is there any pitfall or problem that you folks know about that can come up when making online payments like this? Or is this system really the cat's pyjamas that it appears to be at first glance? By online payments, the system that I'm referring to is where I make a payment from my account through a webpage and the money is directly deposited into the recipient's bank account.  |  IP: Logged Robert E. Allen Phenomenal Film Handler Posts: 1078 From: Checotah, Oklahoma Registered: Jul 2002 posted 06-16-2012 05:32 AM                     Well Frank, all of our personal bills are paid on-line automatically each month. It is very convenient for us (my wife who keeps the family books) and all we have to do is make sure the money is in our bank. There's never been a problem.  |  IP: Logged Rick Raskin Phenomenal Film Handler Posts: 1100 From: Manassas Virginia Registered: Jan 2003 posted 06-16-2012 06:13 AM                     I've been using online bill pay through my bank for years with no problems. I would avoid paying online directly to a company via their website unless you are using a credit card. A little dyslexia when entering your bank account account number can cause you big headaches. Also, I once sent a certified letter less than 100 miles and it took 18 days to get there. The USPS offered no explanation.  |  IP: Logged Frank Cox Film God Posts: 2234 From: Melville Saskatchewan Canada Registered: Apr 2011 posted 06-16-2012 12:21 PM                        This isn't paying money to a company via their website, it's paying money to them via the bank's website. The Credit Union here has some kind of an arrangement with hyperwallet to provide this service. I now have an account on that website and transfer money into that account from my regular bank account. I can then go to that website, log in with my username and password, and provide anyone else's bank account information (institution number, transit number, account number) and then directly deposit money into that account from the hyperwallet account. The hypwerallet website records the transactions and keeps a running balance of what's left in your hyperwallet account and so on. I sent out an email about this to the film companies on Friday morning and so far three of them have given me their bank account information so I can deposit money into their account this way instead of mailing cheques to cover film rental as it comes up. They all seem to be pretty happy about this idea; I assume a lot of other people pay them this way since this online direct payment thing is far from a new idea. Some outfits (mostly utilities) keep trying to tell me how wonderful and convenient it would be if they could just automatically withdraw payments from my bank account, but I don't do that and I have no intention of starting. I don't like that idea simply because you lose control of your bank account. I've heard stories about people who have had thousands of dollars automatically taken from their bank account by utility companies either in error or to cover supposed damages to something or other. It's a lot easier to get a problem dealt with when you owe them money that when it's the other way around. Plus I like to know how much money I have in my account; if it's allowed to magically disappear I would never be certain. I might start paying them with this hyperwallet thing at some point, but I don't want them to be taking money out of my bank account whenever they feel like it.  |  IP: Logged Robert E. Allen Phenomenal Film Handler Posts: 1078 From: Checotah, Oklahoma Registered: Jul 2002 posted 06-16-2012 01:23 PM                     Hey Frank, would it be possible for you to PM or email me some photos of your place? I regret not being active in the business at this time and long to return to it. Seeing photos of others theatres helps make the time more tolerable.  |  IP: Logged Randy Stankey Film God Posts: 6539 From: Erie, Pennsylvania Registered: Jun 99 posted 06-16-2012 01:39 PM                     Set up a bank account, specifically for the purpose of paying bills online. Keep a nominal amount of money in that account, just enough to pay for contingencies and to keep the account active. Then, before you make any online payment, transfer money from your "real" bank account into the "online" account. It's a little more work and, depending on the bank, you might have to pay other fees but, people get their money right away and you are insulated from any trouble. I learned that trick when I was a field service tech at Cinemark. I had to pay for daily expenses out of my own account but got reimbursed at the end of the month. This served to insulate "my" money from "their" money and it made keeping expense reports simple. I just sent a copy of the bank statement and explained each charge. (Most of them were self explanatory, anyway.) I still do this trick, today. My bank doesn't charge me for the extra account if I keep a minimum balance in BOTH my accounts, combined.  |  IP: Logged Rick Raskin Phenomenal Film Handler Posts: 1100 From: Manassas Virginia Registered: Jan 2003 posted 06-16-2012 01:42 PM                     With my bank's BillPay, I have a list of my payees and their associated account numbers stored on the bank's computer. When I wish to pay I simply logon and authorize payment. Other than the initial setup, no entering of account numbers or R/T numbers is needed and therefore less chance for errors. The bank will EFT the funds where applicable and mail a physical check if the payee does not have EFT capability. Its a nice service and is free if I maintain certain minimum account balances.  |  IP: Logged Frank Cox Film God Posts: 2234 From: Melville Saskatchewan Canada Registered: Apr 2011 posted 06-16-2012 03:39 PM                        Robert: I just took a series of photos of my theatre and emailed them to you. I also sent them in as a photo submission, so maybe they will show up on this website soon.  |  IP: Logged Mike Frese Master Film Handler Posts: 465 From: Holts Summit, MO Registered: Jun 2007 posted 06-16-2012 04:23 PM                        It amazes me that the studios have not made it easier to pay them like pretty much any other business out there. It would be nice to login to a Warner bros website and make payment. I wire money on a regular basis. Only use checks for the smaller less used studios. My bank does not charge me to make wires.  |  IP: Logged Scott Norwood Film God Posts: 8146 From: Boston, MA. USA (1774.21 miles northeast of Dallas) Registered: Jun 99 posted 06-16-2012 05:28 PM                        Some of the smaller distributors allow payment by credit card. I have done this before with Kino. If I remember correctly, Universal and Disney both require a check in advance of the screening (they may take other forms of payment, too...I don't know). Shipping is, of course, handled separately. Disney uses TES. Universal uses Danzas. Kino uses UPS. This was for one-off repertory screenings with no admission charged, not first-run bookings. Things might work differently when a boxoffice percentage is involved.  |  IP: Logged Mike Blakesley Film God Posts: 12767 From: Forsyth, Montana Registered: Jun 99 posted 06-16-2012 08:06 PM                        We pay our UPS bill online through their website. Nothing could be easier. I wish the film companies would set up a system like they have. We get a weekly invoice from UPS. From there I click into their bill-payment system and about 4 clicks later, it's done. Film companies could set up a system where the invoice could work off your Rentrak grosses and generate an amount due from there. Click on that amount and pay the bill. I'd think it'd be pretty simple to set up. They could make it optional for those who still want to send checks.  |  IP: Logged Robert E. Allen Phenomenal Film Handler Posts: 1078 From: Checotah, Oklahoma Registered: Jul 2002 posted 06-17-2012 05:00 PM                     Thanks Frank, I got them. What a great job you've done.  |  IP: Logged

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