In an effort to keep our prices as low as possible for all customers, effective November 1, 2018 we are making a change to the payment schedule for races that require payment by check. The change will affect any organization that is owed proceeds from RunSignUp on or after that date and has asked to be paid by check. Specifically beginning on that date, check payments will be initiated to you on our normal weekly schedule each time proceeds payable to you are greater than or equal to $1,000.00. If proceeds payable to you are less than $1,000.00 then the payment will be made to you after your race has concluded. This change impacts any races or clubs processing transactions with RunSignUp on either a Quick Start (Check) or Advanced (Check) payment account type. This change does not impact other payment account types. If you originally set up your payment account to pay by ACH with RunSignUp there is no change to the payment schedule for your race.
We are making this change due to the high cost of issuing replacement checks for lost, missing and stale checks. The provider that we use to issue checks has recently increased the cost of replacing checks to as much as $25.00 to reissue a check. Our new policy will not eliminate lost, missing and stale checks but by issuing fewer checks overall and encouraging you to change your payment method to ACH we think we can minimize this new cost to you and to RunSignUp. We also think that ACH is a safer and more efficient payment method and we would like to use this opportunity to encourage you to use ACH payments instead of check payments.
Fortunately, most of our races use ACH payment today and you can easily update your payment account to ACH to eliminate any impact to the cash flow for your race. We will be sending an email shortly to those races that are currently set up with check payment to let them know about the policy change and to provide instructions on how to move to ACH payment.