Steem4Nigeriaccelerator Contest Week 126: My experience with daily contribution collectors (DCCs)

Greetings and welcome to my blog. Another beautiful day to dwell on a good contest topic.

Do you know Daily contribution collectors? What is your experience with them?

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I know daily contribution collectors. They are a popular brand of business around here. I see them day in Day out going round businesses at certain times with cards, collecting money from people who are running savings account with them and ticking it off on their cards.

I’ve not had any personal experience with daily contribution collectors but I’ve seen and heard others who at one time or the other had business dealings with them. My mum is among those who use their services till tomorrow.

She always tells me on how she’s been able to save with them over time and it has helped her to save money for her shop rent. Infact over the years, that’s what she’s been using to pay for her shop rent.

How long have you been with them? Can you recommend people to them?

Like I said earlier, I haven’t had any personal dealings with them but my mum has. She has been with them for a very long time precisely over ten years and counting. She always tells me how she’s able to save up for her shop rent through their services.

I cannot say I’d expressly recommend them to people because of certain stories I’ve heard about dealings with them. Some persons re fortunate while some are not.

My mum is obviously one of the fortunate ones to have heard this practice work for her cos most times you hear stories of them running away with people’s money especially during Christmas time. They leave people stranded at times mourning for the loss of their hard earned money.

Do you think every business owner should join daily contribution collectors?

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Nope. I think it’s better if one can save up on their own through the use of savings accounts or savings box. We are in digital era and there are various means now available through which business men and women can save up for their business investments.

I think all that is needed here is some amount of discipline. A lot of people do not have the discipline to save hence they revert to the use of daily contribution collectors. Some spend the savings if it’s close to them hence that inability to save by themselves.

I think we should do what works best for us but with caution and if we must use daily contribution collectors, we should use those who have been tested and trusted over time and are known to have integrity in financial matters.

If the collector dies, will you forfeit your money or ask the relative to pay you, hence there's no written agreement?

Heheheh. I guess the answer of obvious. There’s no written agreement for these transactions. There’s a probability that the relative of the person in charge of the business has no connection or affiliation to the business whatsoever.

So how can one go to request from another what is not in his or her care? If the business is well founded, there could be a means of recovery for peoples funds even if the owner dies. But if it’s a one man business, I guess it’s a to your tent oh Israel.

Forfeiting the money would have to be an option in the face of no appropriate accountability system.