Agent paying my invoices by cash

[Lumiere]

Doesn't a BACS payment cost £20 or so? Maybe he has just worked out that by withdrawing and depositing cash he is saving that £20 EACH week to EAC contractor. It soons adds up. Very frugal!

DICLAIMER: I have no idea if any of this is ptrue or even remotely plausible.

No, that's CHAPS. BACS normally is the cheapest option (free) ...

[Archangel]

Not all of them, just some from time to time ..

Should I be worried ? I do not understand where would he get cash in this type of business, he should receive all his payments from clients by BACS ..

If he has other business interests which receive cash it is cheaper to pay it into your account than his (banks charge for cash deposits).

[rhubarb]

Have you asked him why he sometimes pays cash ?

[weemster]

Sounds Shaky !

[Lumiere]

If he has other business interests which receive cash

like car boot hot dog sales or you suggest he might be a real pimp ?

[Lumiere]

Have you asked him why he sometimes pays cash ?

No, just discovered it after analysing the fees summary document from my bank (still free banking, would cost me a significant amount otherwise)

[TykeMerc]

It's not that ludicrous, a few years ago I had some subcon resources on a project, I found it easier to draw a big lump of cash out and pay the invoices. The book keeping wasn't at all tricky, just apportioned the withdrawal to the invoices.

There had been a couple of cockups from the bank previously and it was a guaranteed way to be sure the money was in their accounts on the promised dates and I had the BGC receipts.