Updated over 6 years ago on . Most recent reply
Rent payment methods Zelle or Venmo
A tenant has suggested we use the services ZELLE or Venmo to collect rents. Currently we use snail mail to our P.O. box to collect rent checks. Is anyone familiar with these services, and can you tell me how they work? If these two services are not recommended what do you prefer? I don't want to pay a fee, and I don't want my tenant to know my account numbers. Thank you for all help offered.
Most Popular Reply
I would never use PayPal. Too many horror stories (including 2 or three of mine personally)
Venmo seems to be popular here. Both you and your tenant need to sign up for Venmo and link your checking/savings account. They (or anyone) can pay you and you can request money. It’s pretty much instant. Jonathan Orana has an interesting point - I’ve never read or checked.
I use Cozy. Easy and free. And focused towards tenant/landlord. The only downside is a 5-6 day delay from tenant deposit to deposit into your account.