Author Topic: Online rent pay or ACH?  (Read 3243 times)

mozar

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Online rent pay or ACH?
« on: July 02, 2015, 07:21:37 PM »
I just got a new tenant. Woot! The tenant is a young man and his father is paying all his bills. I guess the father really wants his kid out of the house.
Anyways, the father asked me if he can pay by ACH. I don't really understand how this works. It seems different than online bill pay and popmoney through my bank. The father has already paid for July and given me all his personal info including his bank number. So now he wants mine so he can send me money directly. Is this easier than online rent pay or other options? I'm not really keen on having to pay a fee to receive money.
Thx

forummm

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Re: Online rent pay or ACH?
« Reply #1 on: July 02, 2015, 07:31:29 PM »
Why don't you just use paypal or something like that where you don't have to give out your bank account info?

slugline

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Re: Online rent pay or ACH?
« Reply #2 on: July 02, 2015, 08:37:50 PM »
Why don't you just use paypal or something like that where you don't have to give out your bank account info?

The fees are probably discouraging the OP from this option.

mozar

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Re: Online rent pay or ACH?
« Reply #3 on: July 02, 2015, 08:45:57 PM »
Quote
Quote
Why don't you just use paypal or something like that where you don't have to give out your bank account info?

The fees are probably discouraging the OP from this option.

yep

Mirwen

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Re: Online rent pay or ACH?
« Reply #4 on: July 02, 2015, 09:49:41 PM »
ACH is great, but you do have to give out your bank info.  If you don't want to do that most banks have a free transfer service.  My bank, Chase, has something called quickpay.  You can create an account even if you are not a Chase customer.  My mom and I use this service to send each other money all the time.  I'm sure most banks have something similar.  What bank do you use?

bacchi

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Re: Online rent pay or ACH?
« Reply #5 on: July 02, 2015, 10:12:00 PM »
Your account number is on each check you write or send out via bill pay. Open another account if you're concerned about it. Probably a good idea anyway.

arebelspy

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Re: Online rent pay or ACH?
« Reply #6 on: July 03, 2015, 01:38:35 AM »

Your account number is on each check you write or send out via bill pay. Open another account if you're concerned about it. Probably a good idea anyway.

+1.
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forummm

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Re: Online rent pay or ACH?
« Reply #7 on: July 03, 2015, 05:38:06 AM »
Why don't you just use paypal or something like that where you don't have to give out your bank account info?

The fees are probably discouraging the OP from this option.

If you have a personal account (where you only accept paypal or ACH funds and not CC funds) transfers are free. Or at least they always have been for me.

Your account number is on each check you write or send out via bill pay. Open another account if you're concerned about it. Probably a good idea anyway.

That's true. And for business purposes, you should have a 2nd account anyway.

chasesfish

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Re: Online rent pay or ACH?
« Reply #8 on: July 03, 2015, 06:38:35 AM »

Your account number is on each check you write or send out via bill pay. Open another account if you're concerned about it. Probably a good idea anyway.

+1.

I'm a banker and I'd be okay with what the father is asking to do.   Its a really low possibility you'll deal with account fraud, but if you do it's the bank's loss and only a minor pain in your ass to deal with.

mozar

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Re: Online rent pay or ACH?
« Reply #9 on: July 03, 2015, 02:15:54 PM »
Sounds good, I'll open another account. I have a local credit union.

Bearded Man

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Re: Online rent pay or ACH?
« Reply #10 on: July 03, 2015, 03:26:33 PM »
I opened a business checking account for this purpose so that I don't have to give out my other account number. I reduce my risk this way.

Cycling Stache

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Re: Online rent pay or ACH?
« Reply #11 on: July 03, 2015, 03:30:27 PM »
Interesting all the concerns about account numbers.  Your account numbers are not secret, nor are they intended to be.  They're on every single check you write.

The only thing you have to pay attention to is who you give permission to to pull money from your account.