Pay your rent with a Credit or Debit card. No landlord signup required
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Re: Pay your rent with a Credit or Debit card. No landlord signup required
#2Pretty neat idea.
LOL at their video http://youtu.be/0kXTual0lfk
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#3It 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.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#4Or sign up for a credit union which will surely do this for free.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#5It 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.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#6It 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 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 rent payments - something the banks don't offer.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#7It 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 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.
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#8Most 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://www.bankofamerica.com/onlinebanking/online-bill-pay....
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#9The 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?
Re: Pay your rent with a Credit or Debit card. No landlord signup required
#10Most 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 service of "paying my rent".
I mean, don't get me wrong, I'm sure the service is great... what is making me laugh is the fact that it's even needed. And by "making me laugh" I mean "horrifies me".