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3 Businesses Flourishing with Stop Payment Protection

Posted by Brandon Weaver on Thu, Jun 07, 2012 @ 10:00 AM

stop paymentAs much as companies wish to provide a great product or service all the time; payment disputes still occur sometimes. These can be due to customer and merchant disagreements over work quality, an overall bad experience or a misunderstanding by one or the other party. In any case, these are almost always uncomfortable situations and unpleasant for the merchant to settle. Even so, when they happen, having a stop payment service in place gives businesses protection and reimbursement should the customer halt the payment for services rendered.

At CrossCheck, we see a variety of businesses implement a Stop Payment service to reduce their risk of never collecting on the checks returned for stop payment. These businesses typically have high dollar sales, therefore a stop payment check service is important to assure them of payment. Without further ado, here are three businesses that can benefit from stop payment protection:

  1. Auto Repair - This can include a wide variety of businesses from mechanics, muffler shops, brake shops, dealer service departments and auto glass repair. For example, say a customer pays for a new air conditioning system but the system consistently releases warm air after leaving the shop. They then stop payment on their check because they are unhappy with the performance of the work. With this premium in place the shop is guaranteed to collect payment provided all warranty guidelines are followed.
  2. Veterinarians - Sometimes pets visit the vet for serious conditions and require medication or surgery to regain full health. Bills can be quite steep and a stop payment check occasionally results if the pet does not respond favorably to treatment. In this situation, a stop payment premium saves the vet time, money and the uncomfortable position of trying to collect payment from a family who has just lost a loved one.
  3. Building Supply - This category consist of lumber yards, fencing and roofing companies, home improvement stores and other businesses that provide both service and supplies. These businesses occasionally have a customer or contractor who is unhappy. For example, a customer who may hire a roofing contractor but after finding a still-leaky roof stops payment on his check. With stop payment in place, the contractor is protected under the check warranty when all of the guidelines have been met.

Checks returned to merchants for stop payment are often the most difficult to collect on and frustrating to deal with. Having a system in place to resolve these payments allows them to focus on customers and the product or service, rather than spend time and energy collecting on stop payment checks.

In a rebounding economy, capturing every last dollar is important for growth no matter what business you are in. The stop payment premium helps to guarantee consumer payments and offers merchants the appropriate protection to collect on returned checks. Take the first step by filling out this form and we will respond with more information within 48 hours.

 

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Tags: Veterinarians, Building Materials, Auto Repair, Stop Payment Protection