The ONLY national organization representing, solely and without compromise, oil & gas royalty owners interests.

Texas Message Board

Direct Deposits

  • 02/12/2013 12:58 PM
    Message # 1206919
    Anonymous

    I am inquiring whether you think it is a good idea or not for direct deposits of royalty payments.

     

    If I recall, I have read something that stated it was not a good idea to do such, but can't remember directly.

     

    Any info, thoughts, etc would be greatly appreciated!

     

  • 02/13/2013 1:24 AM
    Reply # 1207395 on 1206919
    Anonymous
    Electronically deposited checks have proven to be a secure, efficient and convenient method of receiving royalty checks for as long as that service has been offered.
    Much more "chancy" to receive "hard copy" of checks each month.  Risk of being lost in the mail, or misplaced once brought into the office.  Then...there is always the danger of theft.

  • 02/27/2013 6:18 AM
    Reply # 1228670 on 1206919
    Anonymous
    We have had a great experience with directly deposited funds for royalty payments. As stated above, no more "lost in the mail" checks. The deposits arrive on time, every time. We are emailed a "run sheet" or deposit detail a day or two before the deposit hits the bank. Works for us! Good Luck!
  • 02/27/2013 9:44 AM
    Reply # 1228860 on 1206919
    Anonymous
    We have been using electronic deposits for at least ten years with no problems.  One producer emails the deposit amount on the same day as the deposit.  Another tried, but evidently could not get the email notification to work.  We have had no problems, and, as said above, the nuisance of handling checks coming in the mail is eliminated.
 
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