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Updated over 7 years ago on . Most recent reply

User Stats

174
Posts
72
Votes
Bryce Cutler
  • Investor
  • Wynantskill, NY
72
Votes |
174
Posts

Making payment to Private lenders

Bryce Cutler
  • Investor
  • Wynantskill, NY
Posted

Hey BP family,

I was using Dwolla to pay my private lenders as it was easy and I could set it up as automated and I loved it for $0.25 per transaction. 

They have now raised their fees and it will cost me $5 per transaction. Across multiple lenders that will really add up. So I am looking for suggested websites that are used to be able to make these payments direct to the lenders bank accounts without being overwhelmed with fees. 

I checked out PayPal but then the lenders have to go in and transfer to their Bakker account and I'm looking for something very automated. My bank doesn't offer P2P options on the business side so that's out too. 

Any suggestions would be greatly appreciated. 

Thanks in advance,

Bryce

  • Bryce Cutler
  • Most Popular Reply

    User Stats

    788
    Posts
    640
    Votes
    Rocky V.
    • Flipper/Rehabber
    • Arlington, TX
    640
    Votes |
    788
    Posts
    Rocky V.
    • Flipper/Rehabber
    • Arlington, TX
    Replied

    I use Chase's bill pay service just like @Chris Martin.  Has not failed me yet.   Private lenders are the first to get paid by the 15th and it's not due until 1st of month.  I guess that is why I keep getting asked if I want to borrow more money ;)

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