Intuit Payment Network Shutting Down, New website suggestions?

Question

Hello Everyone,

I've been using Intuit Payment Network to collect rent for some months and loved it. I received an email that it will no longer be available starting May 31st. Any suggestion on a great rent collection website/service to use? I've been looking through old post and I've seen Dwolla. Any others? Prefer recommendation based on personal use. Thanks.

JR C. · Answer

Check out erentpayment.com. They offer outstanding customer service and have some good features. $3 a property but they have been around a while and are not a newbie company that may go under.

Mimi H. · Answer

It really depends greatly on the features that you're looking for. My rent collections are pretty cut and dry for one of my units so I used Venmo.com. They've been acquired by Paypal. It's extremely simple and fee free for transactions under $2999.00 per week. They have a great little phone app as well and you can connect it up with your bank account, etc. One of my former tenants, who was accustomed to writing checks, called it,"oddly unceremonious" as a monthly transaction. :) I also refund security deposits in the same way.

Some other tenants of mine do direct debit. Also, no cost to me but incurs a fee (at times) for the tenant depending on their bank.

Bolanle Ogunmakin · Answer

Thanks for the great suggestions everyone!

Kelly N. · Answer

Glad to help.  Yes, Quickbooks Payments is $.50/transaction, same as IPN was, and there is an option to allow credit card use.  The nice thing is that you can allow credit card payments for select customers where with IPN it was either on or off.  I tested it out already and it is easy to use *however* if the tenant were to have an issue, there is no way for them to contact Intuit (no phone number or e mail for customer service provided) and I was told they were to contact ME and I was to contact INTUIT with any issues.  For the most part, IPN was trouble free for us, but the last 6 months we've had more issues.

I never got a good handle on why certain tenants were having issues, but I feel like it was mainly on the user side- some tenants had two IPN accounts and would choose the wrong one, some had mobile phones that were timing out before the payment went through, and there were a few more with issues I couldn't identify.  Anyways, this system seems to be a bit more mobile friendly, so if we can keep the trouble calls down to 1-2 per year it is worth it.

I bought QB2016 Pro- the desktop version.  I had QB2013 pro already and had been buying the new version every 3-4 years so I would have been buying the new software by next year anyways.  $200 ish (you can find it cheaper on Amazon but there were enough reviews stating that they received unlicensed copies from Amazon that I went through Intuit directly) plus $.50/transaction is cheaper for me i nthe long run than paying $3/transaction through other solutions.

Bolanle Ogunmakin · Answer

Thanks @JR C. Will check them out!

@Kelly N. Great suggestion! I thought i saw something online about still paying $.50 per ACH transaction. The rep I online chatted knew nothing about it though so I will check it out again. This just might be the solution. Thanks again!

Kelly N. · Answer

Venmo told me directly that they aren't meant to be used by businesses.  They had a $2999 weekly limit which would not have worked for us anyways.

I am a Quickbooks user, so I upgraded to QB2016 and will use their Quickbooks Payments starting April 15 to make sure we have all the issues worked out in advance of IPN shutting down.  I like that I can exclude everyone from paying via credit card, and ACH is only $.50 still.

Another good option is Chase- you can send or request money from anyone at no charge if you have a Chase account, might be worth looking into.

Ron Tafoya · Answer

for those that recommended Venmo and use it what are the benifits of using Venmo over PayPal if PayPal owns Venmo?

Bolanle Ogunmakin · Answer

Thanks @J Allen, I will look into Wave. I've also heard Venmo a couple of times. My sister uses it with her tenants so I'll discuss it with her.

@Ken Sauer Thanks for recommendation, getting ready to screen more tenants so this could be a nice all inclusive service. Thanks for also mentioning your concern about the strength of the company. My tenants have been tossed back and forth enough regarding rent payment. Thanks!

J Allen · Answer

I've used Wave and Venmo. Great services. Square Cash looks nice. I haven't used the service, but plan to soon.

Intuit Payment Network Shutting Down, New website suggestions?

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