Pay periods vs. pay convenience

[LDB]

I was with one company that only paid twice a month but they would direct deposit into your checking account so you didn't have to deal with Comdata and all their fees and surcharges. I switched companies and pay was weekly but only to Comdata so you had lots of fees. Now I have the option of direct deposit again and will set that up once I get a voided check to do it with.

Does anyone truly like Comdata? It's convenient to use at the pump when filling however very similar results could be achieved paying cash or using one of the company affiliated credit cards that gets a discount on fuel.

Maybe I'm cynical or overly suspicious but it seems to me Comdata is just another way to get a little more out of our pockets that should be going into our pockets.

Leo Bricker, owner truck 3034
OOIDA 677319
73's K5LDB
EO Forum Moderator
1+ Years of Service
Expediters Online.com - The Best is Getting Better!
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[jwgmover]

Direct Deposit once a week,

Comdata with escrow, for fuel and Oil, etc. only.

Works for me, [http://www.v-rodforums.com/forums/images/smilies/driving.gif]

 

[redytrk]

FECC makes weekly direct deposit to my ckecking account.I pay for 95% of my fuel by check.Pre-approval of personal checks is available at FJ and other chains. I get the cash price for these transactions.

My Comdata fees have dropped to nill with this process.The J will also approve your checks to be for more than the amount of fuel.

 

[greg334]

Leo Wrote > Maybe I'm cynical or overly suspicious but it seems to me Comdata is just another way to get a little more out of our pockets that should be going into our pockets.

You know Leo many feel the same way but don’t get how this entire banking thing works, most fees are hidden and even this free checking and saving stuff is not free. I guess you can look at it as nothing in life is free. The use of your money is one thing, the lack of substantial rates being applied to your money as they use it is another thing. If they give you 2.5% you know that they are making 5 to 7%. Then you throw into the mix the fact that Credit Cards are actually a problem because of the thing with two different prices, like the cash price and credit price for fuel. You pay, no one else AND it is not a business expense.

With Comdata all the fees are up front and you know what you are dealing with, it is all about their service and how it is helpful to you and hence the fees. For me it is part of doing business. Sure if I add up the fees they may look outrageous but every run I put the max on the card and use it for fuel and food for that run, this way I don’t worry about the next check thing or dipping into a bank account that is low or I didn’t keep track of for the week. AND I get to write off the fees.

 

[DannyD]

Hi Leo,

Your post mirrors what I was feeling about ComData maybe 2 weeks ago. I got a few things cleared up by asking some questions on here, but not everything.

With my old company, the ComData charges were HUGE. Going to Canada a fair amount, I'd fill up at the border. This might mean only $20 in gas or so. I had put $200 in my ComData account & when I used my card, I figured $20 would come off. No such luck. Sometimes the charge might be $3.20 for 20 in gas or it might be $2.55 for 30 in gas. I never could make rhyme or reason as to what the charges were for. I just quit using the thing.

What I found out was that it wasn't so much ComData charging me these fees as it was my former company. My current company requires ComData, so I wanted to know upfront what fees I was going to get hit up for. I was thinkin that if I was getting hit for over $2 on a $20 charge, would I get hit for $100 if I wanted to take out $1000?

I recall I called ComData & asked about their fees & to almost everything I asked they'd say "contact your company for that info". I didn't get much out of em in the way of answers, but I did find out it was my former company hitting me up for these fees.

At first no one at my current company seemed to know. After asking around a bit, I was told by my company AND by ComData (one thing that ComData confirmed after I'd asked my company)that I get one check a week for free & after that it's a $1.00 charge when I use a check. So I go to the bank, call the # on the back of the card, go thru their process. I take out $1700, leaving 8 in there. I call & get my ComData balance & there's $7 in there. For a dollar I'm not going to fret it, but it would be nice to get clear, concise information on exactly what I'll be charged.

I do agree ComData isn't needed. They have a direct deposit feature which I thought I'd already set up. It didn't seem to work though. I'd rather pay a dollar to have direct deposit. It would save me a trip to the bank. Having said that, I think if you're w/ a good company, having to deal w/ Com Data is a small hassle in the scheme of things.

Good luck in getting it figured out,
Danny

 

[bryan]

HI
I like the Comdata system. I direct deposit any loaded funds once a week into my checking which cost $1.55 per week.I don't use the card to by fuel or to get cash advances.Without Comdata some husband and wife teams could have big problems like being out for 4 weeks and having their settlements sitting in a mailbox at home.You have tons of money just no way to get to it.A couple of months like that and your more than just frustrated,your ready to pack it in.