No matter who you are—a 12-year-old paperboy or a trucking company with 50 power units—you’ve thought about the best way to get paid for your services. But sometimes the answer isn’t so clear. So let’s find out the advantages and disadvantages of each of the four payment options we at RTS offer.

What’s behind Door #1? 3% 2-Day Quickpay ACH!

This is ideal if you want speed and lower prices. Although it’s not as inexpensive as opting for 28 day ACH (below), the rate is just 3%, so it’s worth it for the efficiency of getting your payments so rapidly. It also makes it easy to keep track of which payment goes with which loads, because it’s practically in real time. Smaller carriers in particular should take note of this option because it gives you the possibility to get paid straight away if you don’t have as much financial flexibility to wait, but it’s still not too costly. But just a heads-up: make sure to report any load problems promptly so that we can still ensure the 2-day payment, otherwise it might not be guaranteed.

Would you like to see what’s behind Door #2? It’s 28-Day ACH!

Our second option is 28 Day ACH, meaning you’ll get a direct deposit within 28 days of us receiving your invoice. So what’s the good, bad, and ugly about choosing 28 day ACH? Well, it’s economical, because there’s no charge for getting the payout instantly. And it’s guaranteed to come straight to your account within four weeks, no trips to the bank to cash checks necessary. But if you need money right away, this may not be your preferred method to get paid. It also makes it a little more difficult to anticipate payments as you try to remember which load is supposed to pay when.

Door #3 (Is this joke getting old to you, yet?!): Using a Factoring Company

You may already be familiar with this: this is where we pay a factoring company using 28 Day ACH, but said company will pay you prior to that. This means that you get your money swiftly, and you don’t even have to handle the invoices because the factoring company you work with will do that. But despite the convenience and immediate payout, factoring companies do come with a couple of disadvantages. For one, they charge high rates to pay you quickly, so your overall take-home is less. It also allows you less control over your business because factoring companies will vet the customers for good credit, and you may not be allowed to take any load you want if the customer is deemed unsuitable by the factoring company. Finally, if you do end up with an issue with one particular customer, all your loads (with EVERY customer) will be held up until the claim is resolved. Overall, this might be most suitable for you if you want a totally hands-off approach and you’re willing to overlook the negative aspects.

And now, let’s reveal the contents of Door #4: 30-Day Paper Check!

If you’re one of those people who likes to hold the proof of payment in your hand, or to keep a hard-copy record of transactions, you can select to receive a 30-day paper check. For this, the downside is that it’s our slowest option (out of necessity, since we have to mail the checks, we’re sure you understand). But it is a good, non-digital choice.

Alexander Graham Bell once said (probably in a new and exciting phone call), “When one door closes, another one opens.” So if you’re ready to close one payment door and open another, better one, email us to fill out a new PTC, and get paid the way you want.