Paying vendors electronically

[Ari S.]

Hello BP! I have been driving over to physically give my contractors checks but want to set something up electronically. What are the best services folks have been using? Venmo? I like to pay my contractors quickly and don’t like to wait for the check in the mail. Thanks! Ari

[Peter M.]

I like Venmo and Google pay and Zelle but the only problem is that (right now) they only work with personal accounts. If you are trying to use a business account it either won't work or if it does you risk them closing your account for violating the terms. If you don't mind commingling personal and business expenses it is fine but if you have LLCs set up you risk losing that extra layer of liability protection. Checks, deposits or credit cards accepted through quickbooks or some other software are my main go tos but it just depends on the contractor.