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Updated almost 5 years ago,
Payment Options for Contractors Who Only Take Checks
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.