The tile market in the U.S. is growing with a surge in construction and renovation activities. They offer different types of tiles, from timeless ceramics and porcelains to luxurious marbles to eco-friendly options. With the advancements in technology and the adoption of eco-friendly materials, tile businesses are expanding in the market. Tile purchases, especially for large construction projects, can involve large amounts. Therefore, these businesses need a secure and guaranteed mode of payment for these large purchases. Create and utilize a bank draft from the check printing software for secured large payments.
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What are Bank Drafts?
Bank drafts are a legal copy of a check, which is created by the merchant and authorized by the account holder. They are just like checks, but you do not require a signature. However, you will need the account holder’s authorization to create a check draft. The authorization by the account holder is indicated in the signature field. Using a bank draft can offer you more security than a check, as it is guaranteed by the issuing financial institution. When using a bank draft, you can be confident that the payment will clear. This is because the issuing financial institution would have already debited the draft amount.
Manage Bank Drafts with the Check Printing Software
Tile businesses usually have to handle multiple large B2B transactions from
- Building contractors and construction companies usually place large orders for various construction projects like large residential renovations or new building constructions.
- Interior design firms may order customized tiles for specific projects that are residential, commercial, or hospitality-focused.
- Wholesale distributors or retailers usually purchase tiles in bulk for resale purposes.
For all these business transactions, tile companies usually prefer bank drafts or check drafts. This is to reduce financial risk and ensure they receive payments on time for these large orders. However, while creating check drafts manually, you have to visit your financial institution and fill out forms. You also need to track the issuance and status of each check draft manually. If there are any mistakes or incorrect information, your check draft can be rejected or delayed.
You may avoid these hassles of manual check draft creation by using OnlineCheckWriter.com – Powered by Zil Money. The check printing software can help tile businesses easily create a check draft by obtaining permission from the account holder. Utilize the software and avoid visiting a financial institution just to create a check draft.
Steps to Create a Check Draft at Your Convenience
Create check drafts with a few clicks using the cloud-based platform. All you need to do is –
- Log in to your OnlineCheckWriter.com – Powered by Zil Money account.
- Click on Receivables on the side panel.
- Click on Check Draft from the drop-down, and you will be taken to the Check Draft Page.
- To create a new check draft, click on New. You may add the relevant information like your client’s name, account number, amount, date, draft number, etc.
- Once completed, click on Save, and you will be taken to the Check Draft list page. Here, you can view all the check drafts you have created.
- From this page, you may print, delete, or set up recurring check drafts. Also, send your check draft as a direct deposit.
- You may also import check drafts from an Excel or CSV file.
How Can Tile Businesses Benefit Using Check Draft?
Tile businesses usually have large orders from various clients, such as construction companies, wholesalers, and retailers. As all these involve significant amounts, requesting a check draft from these clients can ensure security for you and your clients. As check drafts are guaranteed by the issuing financial institution, it assures funds are readily available. This can reduce the risk of bouncing checks or non-payment.
When you own a tile business, sometimes you may have clients from overseas. For these international clients, check drafts can be a more reliable method than checks. As check drafts are universally accepted and secured by financial institutions, they can minimize cross-border payment risks.
Alternative Methods for Check Drafts
Other than check drafts, OnlineCheckWriter.com – Powered by Zil Money, also offers other payment receivable methods, such as payment links. With payment links on the platform, businesses can easily accept online payments from their clients. You may instantly send and receive money with payment links. The platform lets users easily generate and customize their payment links. After generating links, you may send them via email or SMS.
When your clients click on the payment link, they will be directed to a specific online checkout page. From there, they can pay you using multiple payment options. These payment options include bank accounts and credit cards.
The Conclusion
As a business involving high-value transactions, tile businesses can use bank drafts for guaranteed client payments. You can create check drafts from OnlineCheckWriter.com – Powered by Zil Money by obtaining permission from the account holder. Also, you may use a payment link on the platform as an alternative to check drafts to receive payments.
