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Updated about 5 years ago on . Most recent reply

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Jarred Patrick Mooney
  • New to Real Estate
  • Great Falls, VA
0
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Payment Options for Contractors Who Only Take Checks

Jarred Patrick Mooney
  • New to Real Estate
  • Great Falls, VA
Posted

Hi Bigger Pockets Community!

Do any of you know of any fixed fee (or better, no fee) electronic payment options where I could send my contractor money without needing to write a check?  I've written dozens of checks, so it's not that I can't - but when he wants a percentage up front and needs it to buy materials, cutting a check and being at home for him to pick it up so he can start in a timely manner is not the most efficient.  Additionally, when I have several projects going, I have to do a lot more accounting for floating checks/expenses than I would need to if I scheduled each electronically.

Has anyone found a good and simple method for transferring money electronically that a contractor could immediately see the value?  I.e. he gives me his email and has his money in 15-30 minutes with low fixed fee or no fee?  I have heard of services like this for landlords, but not for paying monies owed on projects.

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