I am no longer Expediting but the Company I haul for uses exclusivly Comdata.
These are the following mistakes that would cost me BIG $ over a year.
When I send my Pro's in or B.O.L. I do this only once every two weeks as to not get hit with the $1.75 charge for loading funds onto my card. Multiple deposites = Comdata Charges so each load at $800 deposited a charge appears, 10 loads deposited only creates one charge.
There is NO CHARGE for DIRECT DEPOSITE into ones checking or savings account. (I highly encourage one to do so.)
I recently visited my corporate office, and was given a copy of all Comdata Transactions which will be forwarded to me once a month and I encourage YOU if on Comdata to do so also and cross refrence everything. It was all correct but I discovered the above deductions of the $1.75 thus if I were to do 220 runs in the next year it could be $385 vs every two weeks $45.50.
The Companies you are leased to find this is the easiest way for them to get you $ but it only costs you fees. STOP DEPENDING on this service it is in my opinion a Poor Mans TAX or a lazy Mans Tax. I say lazy to be Politicaly Incorrect here on Purpose! If you cannot ever save up $5K to bridge yourself and get away from these Taxes imposed on you, than the Title fits.
Example Load A pays $800.00 your leased to a O/O who is leased to ABC Expedite, you advance yourself $200.00 $C=X, now you fuel up $C=X, deliver the load head over to the truck stop refuel $C=X and you decide to pay some bills and put the remainder of the funds eitehr into your check book or into money orders $C=X. Two fill ups, two cash withdrawls, and two times your card was loaded, you just made Comdata $10.50 multiply that by lets say 130 loads a year. VS $45.50. That could be a large % of ones profits.
One could run there business from the OOIDA Fleet One and save all of those expenses. One must have a track record of decent credit, and a checking account. Nice little savings for being Politicaly Fiscialy Smart.
Hope this helps, more than one way to avoid the claws of Comdata.
