High value payments for construction.
NZ Builder specializes in building high performance, energy efficient homes and Dave is the man in charge of sending and receiving high-value payments to keep everyone happy. In the construction industry, most businesses rely on using cheques to move large amounts of money, but the process is painfully inefficient.
Growing up in New Zealand where online payments are far more advanced, Dave didn’t even know how to use a cheque until he moved to Canada and was asked to write one. To this day, he still Googles how to write one to double check that everything is written on the right line. They’re not intuitive and they take forever.
HIDDEN COSTS OF A CHEQUE
“Cheques in my head cost a minimum of $25 each.”
Blanket across the board, Dave always sees $25 as the minimum cost for a cheque. Sometimes they can cost up to $50-$55 depending on how annoying it is or if it’s convenient to get to the post office. If it requires a special trip, that’s time he can’t get back.
Some suppliers in the construction industry also require same day payments and that requires a courier to get involved. There are a lot of nuances to be concerned about with cheques and he loves that Truss handles all of that for him.
REMOVE HUMAN ERROR
“I like eliminating the chance for me to make mistakes.”
Wire transfers aren’t any better. Dave still sees ample opportunity to make mistakes with routing numbers there too. He always double checks the numbers and asks himself, “Did I send this to the right person? Did I write this on the right line?”
Other solutions he’s used will keep banking information on file but if the client changes their banking without telling him then he’s entirely in the dark and the payment won’t go through.
With Truss he appreciates how he simply has to send an email to a client and they can authorize online directly to their own bank. It’s just like accepting an etransfer, but without the limits. The client chooses which bank account they want to accept the funds into, and all they need is a custom code from me to connect our accounts.
Invite via email
SIMPLE AND SECURE
“Being backed by BMO should be enough to make people feel comfortable.”
Dave believes that if you boil it down, Truss is the ability to do a massive etransfer without the limits. And like etransfers, Dave appreciates the inherent security around that. The knowledge that the payments run through the BMO security platform also gives him confidence that the payments he sends and receives through Truss will go through smoothly.
When he has to send or receive a payment he knows he can send the automated email through the platform, but always prefers to copy and paste the payment links into his own personal emails. He believes that sending an email reminds his end customer that he supports this platform and that they can trust it to deliver.
Copy payment links