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Updated almost 9 years ago on . Most recent reply

Recurring online rent payment?
So I came across a problem today...
I have been using Intuit Payment Network (product of Quickbooks) to collect rent for 3 of my properties. I went to add a 4th and 5th property today and I found out they no longer allow more than 3 bank accounts. I set up a bank account for each of my properties so I can easily track and set up direct payments for my mortgage (one less thing to worry about paying) Intuit has been working great for me (and only $0.50 a transaction) so I was pretty bummed when I found out. I really want to avoid having all payments go into one account and then paying each account out from there afterward. I reached out to Quickbooks as well and they said if I have a separate bank account for each property I would need to have a separate quickbooks account for each property as well. Don't feel like paying for quickbooks each time I have another property.
I have also been using Cozy for rent payments.... which is decent. I just hate how you have to wait 7-10 days for the check to clear and it is kind of a hassle for my tenants to initially set up.
Anyone know of any good rent payments that are either free or a minimal fee per transaction like Intuit was?
Thanks in advance for the input!
Mike
Most Popular Reply
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Why not simply use 1 account for payment, then move the payment to the account that corresponds to each property?