pay near me service ?

[Javier Perez]

Hi Everyone,

 I just purchased a property with a tenant in it. The Tenants had a Deposit Only ATM card with the previous landlord. However, I prefer not to use that.

I have heard of many talk about "pay near me". I contacted them and they responded saying they could not provide service to me directly but that I needed to use a 3rd party processor. I'm a little confused ... Any of you use "pay near me". If so, how do you use it?

[John Underwood]

@Javier Perez So your tenants are trained to use a deposit only ATM card. I believe these are free. WF had given me one but I have never used it. Using a service and 3rd party service on top is defiantly going to cost you money.

Why are you against using what your tenant is used to that is likely free to you?

I personally don't pay to collect my rent. My tenants mostly deposit directly into my business account at a smaller bank. They get a receipt and I can check online that they have paid. The bigger banks have stopped allowing cash deposits into someone else's account. I have several tenants that pay using Zelle which is supported by most banks and is built into many banking apps. I also have a couple that set up ACH transfers with their bank.

At the end of the day you want the rent into your bank account, so why not cut out all the middlemen that want a fee?

That deposit only ATM card does just that and your tenant is already trained and is OK with it. I see no reason to upset the apple cart. Just my 2cents.