Kubota Credit Corp - slow check processing?

[chriscos]

This isn't a complaint, I'm just curious...

If you have a loan through Kubota, do you notice if your payment processing takes a curiously long time? Whenever I send them a check it seems like it can take up to two weeks before it clears. Everywhere else I send checks to in the USA seems to clear them within a week. This is including transit time through the US postal system.

I should probably just go ahead and set up electronic payments, but I liked the novelty of the payment coupon book. Not many places around here does that any more. Heck, even my mortgage statement comes in an email.

 

[JOHNTHOMAS]

This is a complaint, I'm just curious...

If you have a loan through Kubota, do you notice if your payment processing takes a curiously long time? Whenever I send them a check it seems like it can take up to two weeks before it clears. Everywhere else I send checks to in the USA seems to clear them within a week. This is including transit time through the US postal system.

I should probably just go ahead and set up electronic payments, but I liked the novelty of the payment coupon book. Not many places around here does that any more. Heck, even my mortgage statement comes in an email.

You still get the payment books and envelopes even with auto electronic payments soooooo no reason now to not do auto withdrawal from your bank account.

 

[kensnelling]

I used to have the same problem with my mortgage company. I finally sent a payment registered mail. From the time they recieved the payment until it was posted 18 days elapsed. Yep, more late charges and a late pay put on my credit report.

What I finally started doing was send my payment by Western Union. Immediatly posted to my account, although having to pay a few bucks to make a payment chapped me.

Ken

 

[JOHNTHOMAS]

I used to have the same problem with my mortgage company. I finally sent a payment registered mail. From the time they recieved the payment until it was posted 18 days elapsed. Yep, more late charges and a late pay put on my credit report.

What I finally started doing was send my payment by Western Union. Immediatly posted to my account, although having to pay a few bucks to make a payment chapped me.

Ken

I think your mortgage company was wanting you to default so they could take your house but I don't think that's Kubotas reason for slow posting. They sold you the tractor and they want you to keep the tractor.

 

[streamin]

Even though it is late, they don't report it unless it is another 30 past the due date. I have had trouble paying in the past and they even allowed me to skip a month and add it to the end. They have been one of the best credit companies to deal with in my opinion.

 

[DT86]

Even though it is late, they don't report it unless it is another 30 past the due date. I have had trouble paying in the past and they even allowed me to skip a month and add it to the end. They have been one of the best credit companies to deal with in my opinion.

I make all of my payments over the phone with KCC, JD Financial and others.

Kubota is by far the easiest to deal with. I was six days late...my bad, called on the 11th, thought it was due the 15th but it was actually due the 5th. The woman said it was fine. But since I'm on yearly payments I don't think I can get by with skipping one. I think they'd miss ~$10k too much to let that slide.

With Deere (Farm Plan) I have to verify everything from my account number, address, bank name, bank account number ect. EVERY time I call and they always ask to have a second phone number on file. I hate dealing with them and hopefully I can get to where I no longer require the use of their money in the near future.

 

[WilliamBos]

You guys are still writing cheques? Auto withdrawl is amazing!

 

[SSdoxie]

Don't have a Kubota but i'm sure you could go online a pay via Electonic check. I just put in a new central HVAC system in the house this year, they sent me a payment book and included the website for EFT payments. Now I pay online then right the date and confirmation number on each payment slip and put it in the file. Takes 48 -72 hrs. to process and all is good.

 

[AStanton]

Kubota is taking a long time to cash your check because the Japanese read right to left.

 

[Hooked_on_HP]

Is you payment posting on you account in time and the check is just taking longer to clear. Or are you getting a late charge. About 15 years ago I started having problems with a loan I had. I could send my payment in 2 weeks early and still receive a late payment notice in the mail.( I wasn"t the only one having this problem) The company I had the loan with had hired another company to do their accounts receivable. The company doing the accounts receivable would let your payment sit there until it was late and then process it. When the loan company finally figured out what was going on thay got rid of that company and refunded any late payment charges and sent letters to the credit bureau.
Bill

 

[MHarryE]

I'm like johnthomas- set my last two loans up from the start as auto pay but they still sent me the coupons. I think Kubota actually takes their money a few days after the date I set up but I'm okay with that if they are. I get a couple more days of my account paying me 0.1% annual interest.

 

[streamin]

You guys are still writing cheques? Auto withdrawl is amazing!

when your self employed and rely on others to pay you, auto withdrawl is not always good. However, I do pay through the website when "I" need to, no checks.

 

[JOHNTHOMAS]

I'm like johnthomas- set my last two loans up from the start as auto pay but they still sent me the coupons. I think Kubota actually takes their money a few days after the date I set up but I'm okay with that if they are. I get a couple more days of my account paying me 0.1% annual interest.

What are you spending all that earned interest money on?:laughing:

 

[chriscos]

Thanks for the replies. I got hit with a $5 fee once. I did send the check a little late=== "late",but I sent it a little more than two weeks before the "late fee" date. Payment is due on the 8th of each month, and if they receive it after the 24th or something they tack another 5 bucks on. I looked back in my records and noticed all the checks cleared well after I sent them in, after the 8th (but before the late date). I just thought it odd that they took so long to cash checks. Had I known I would have sent them earlier. I figured 7 days was enough for the postal service to get the check to them. No issues with credit reporting or anything like that, and to be honest, that is one check I don't mind writing each month, I could not be happier with the tractor. I'll make my life easier and do auto-withdrawl. save my self 50 cents for the envelope and stamps

 

[Gary Fowler]

I paid my tractor via EBT and was glad to see October 2012 come as that was my last payment on the 0% interest loan for 24 months. Glad to see that $1500 stay in the bank each month now that I am retired.

 

[Clint S]

My sisters has a Kia and set up auto payments through Kia and it STILL took 8 to 10 days to post. Called Kia and the lady told her it was common for it to take up to 2 weeks to post a payment from the date it was electronically sent. I told her it was BS and she set up E payment through our credit union, payment posted 2 days after date every time.

 

[kubotacres]

I pay online and decide what day I want the amount to process...Piece of Cake.