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by gallego2007 2076 days ago
Can’t upvote this enough! Checks should have been done away with long ago, but I guess some landlords still like to cash them in-person...
1 comments

Did you know that accepting credit card payments could mean you have to pay three percent (maybe more?) in charges and fees?

It is insane.

Maybe FedNow will change things?

Cozy.co direct deposit for my tenants has been great for years absolutely no hiccups.
Aren't there other options besides checks and credit cards? Like Venmo?
I don't think Venmo permits high volume commercial transactions. They want you to use PayPal for that.

The real answer is more prevalance of free ACH transfers. Some companies still like to charge the unneeded credit card fee for those too sadly.

There are services like zelle but the daily limit is often too low to make a rent payment in a high cost of living city.
EFT.