Video seems in poor taste.
Pay your rent with a Credit or Debit card. No landlord signup required
11–20 of 54 posts
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#12Earlier quoted context omitted.
A lot of people find it's important to pay on a credit card especially if you're living month to month, or if you can afford to pay the fees you can get decent status with your card company. You're totally right though, $4.95/mo is more likely to happen (or send through your bank). We have some good value add over the bank because we're in the process of letting you build your credit history with successully paid ren…
Paying your rent on a credit card if you're living month to month sounds like it is a recipe for some spiraling out of control consumer debt.
Sometimes your paycheck doesn't arrive on time to pay your rent, and paying on a credit card to absorb the fee temporarily is a viable option for some people. Paying with a credit card also isn't a requirement...just an option :)
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#13The use of checks baffles me. I'm 32 and have lived my life in Australia and Canada, have never had a check book and never needed/wanted one. To pay rent, bills, send money to friends/family and other similar items, I put a name and bank account number into my internet banking and setup a scheduled transfer every month. It's free, and it works irrelevant of who is with what bank. Why doesn't the US have this?
It does, but it seems a lot of folks don't know about it...
The money is either transfered directly from the bank, or even mailed on your behalf as a physical check for those merchants who aren't set up to accept transfers like that. In either case, it's not necessary for you - the bill-payer- to write checks.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#14The use of checks baffles me. I'm 32 and have lived my life in Australia and Canada, have never had a check book and never needed/wanted one. To pay rent, bills, send money to friends/family and other similar items, I put a name and bank account number into my internet banking and setup a scheduled transfer every month. It's free, and it works irrelevant of who is with what bank. Why doesn't the US have this?
All US banks I have used have had this for at least the past 5 years.
I would say its cultural reasons keeping people on checks.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#15Earlier quoted context omitted.
A lot of people find it's important to pay on a credit card especially if you're living month to month, or if you can afford to pay the fees you can get decent status with your card company. You're totally right though, $4.95/mo is more likely to happen (or send through your bank). We have some good value add over the bank because we're in the process of letting you build your credit history with successully paid ren…
Paying your rent on a credit card if you're living month to month sounds like it is a recipe for some spiraling out of control consumer debt.
That was exactly my first thought when I saw this headline.
You thought people were racking up crazy credit card debt before... When this baby hits 88 mph, you're gonna see some serious shit.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#16Video seems in poor taste.
Very.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#17It costs 3.25%, or $74.25 for the example of $2300. So if you're looking to just rack up "reward points", you'd be best pumping through a payment processor that takes a smaller cut. $5/month for debit is more reasonable, but my bank will mail my rent check for free.
Good point. This app would make more sense with bitcoin in order to avoid the fees, and would have several benefits over paying rent online through a bank (or over having to write a check by hand and mail it in). Some examples:
1) Instead of waiting 3 days for a bank transfer to clear (or for a check to go through the mail), you could pay your rent through an app like this in seconds using bitcoin (and not pay 3% for the convenience of instant payment).
2) If you're working remotely in a different country then you could use this app with bitcoin to pay neither credit card fees nor SWIFT fees for international bank transfers.
3) If you're an early adopter and your bitcoin appreciate over time you'd effectively be paying tomorrows rent with a big percentage discount with todays BTC purchases if you could use this app with bitcoin.
etc. etc.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#18The use of checks baffles me. I'm 32 and have lived my life in Australia and Canada, have never had a check book and never needed/wanted one. To pay rent, bills, send money to friends/family and other similar items, I put a name and bank account number into my internet banking and setup a scheduled transfer every month. It's free, and it works irrelevant of who is with what bank. Why doesn't the US have this?
Most people in the US get cagey when you ask for a bank account number. I don't know exactly why, but it is.
(Yes, I know the account number is printed on each check)
Perhaps something to do with the receiving account sharing its number, as opposed to the sending account?
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#19It costs 3.25%, or $74.25 for the example of $2300. So if you're looking to just rack up "reward points", you'd be best pumping through a payment processor that takes a smaller cut. $5/month for debit is more reasonable, but my bank will mail my rent check for free.
A debit transaction only costs 15-70 cents for the processor. $5 is gouging-level. EDIT: change 15-30 to 15-70 cents based on additional information provided in response below.
FYI transaction costs are a percentage of the total charge. Plus interchange and all that crap. Without looking too far into this, I'm pretty sure debit transaction fees are ~1% which would be about $20 for my $2,000 rent.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#20Most major banks offer a service called 'bill pay' which does this for free, directly from your checking account. Your bank first tries to pay the receiver electronically if they are in the banks network (most utility or other major companies would likely be in-network), and if they aren't in network or if they are just a person and not a company, then the service sends them a physical check in the mail. [1] https://…
Is this a thing? In every country I've lived in, cheques are not only universally hated by landlords and tenants, but all banks offer recurring payments available online (no matter whether the payee is "in the network", you just need the account number and some other piece of data depending on the country). My rent has been paid automatically ever since I was old enough to have a rent, and I never paid a cent for the…
Have you lived in the USA? Checks are, as far as I can tell, still ubiquitous for rent payments here, and I've always used my bank's online bill pay feature for that. The same is true for utilities, although recently more of those have started supporting recurring credit card payments online.